The global testing, inspection, and certification market is expected to witness a massive demand from the emerging economies. The volume of products and goods that are being exported from these emerging economies to the developed ones has grown dramatically in the past few years. The latest trends suggest that there has been a growing focus among the western developed nations to assume control of the entire supply value chain. The products and goods exported must comply with the relevant European standards and regulations. In addition to this, there has been a considerable economic development in the middle class, particularly in the BRIC nations. This has resulted in consumers becoming more aware, economically strong, and health conscious.
They are also becoming quite choosy about the type of food they consume and often select food products that are properly certified. In addition to this, there has been a growing demand for consumer goods, water, and energy as the economic conditions improve in emerging nations with higher per capita income. Such factors are also expected to drive the overall development of the global testing inspection and certification market.
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Wide Range of End Use Industries Provide Ample Growth Opportunities
The competitive landscape of the global testing, inspection, and certification market is quite fragmented one. This fragmentation is due to the fact that there are several notable players working in the market space. The companies in the global market are now trying to tap in wide range of application industries ranging from cosmetics, textile, education, government, water & wastewater management, energy & utilities, travel & tourism, logistics & transport, healthcare & pharma, chemical, information technologies, forest & agriculture, food & beverages, contract manufacturing, and infrastructure. Such wide range of industries provide ample business and growth opportunities to the key companies in the global market.