North America TIC Market: 2024-2028 Forecast

The North America Testing Inspection and Certification (TIC) Market is poised for significant growth, projecting a USD 14.7 billion increase with a CAGR of 3.78% from 2023 to 2028. Key drivers include the rise of remote inspections, US digital transformation initiatives, and a focus on sustainability.

Market Dynamics:

• Driver: Growing adoption of remote inspections yields cost and time savings, enhancing safety and efficiency.
• Trends: Increasing strategic M&A activities consolidate market competitiveness and service offerings.
• Challenge: Data security concerns pose potential risks to the market's growth.

Market Segmentation:

• Service Segment: Testing expected to lead growth, driven by regulatory compliance across industries.
• Source Segment: In-house services dominate, providing cost advantages and control over processes.

Major Companies: Companies like Bureau Veritas, DEKRA, Intertek, and SGS are employing strategic measures for market presence.

Analyst Overview: TIC services play a crucial role across sectors, including automotive and food safety. The market adapts to technological advancements, embracing automation for efficient inspections.