The term testing in TIC refers to industrial activity that ensures manufactured products individual parts and multi-component systems are applicable for the purpose they are required. The product is delivered on time at the appropriate cost with quality control. Globalization has indeed paved the path for product standardization across industries. Thus, most of the industries are predicting the period 2021-2027. TIC has given the credibility of image based on legal and regulatory requirements.
The TIC market in the sports and entertainment industry is anticipated to see a CAGR of 30% during the predicted duration. This sector is changing fast, and the public is knowledgeable of environmental safety, and social responsibility. Thus, the important factor is
TIC carry out tests, investigation and certifications based on regulations globally. The product has good attributes, is protective when used, dependable for the customers. The growth of TIC in the sports and entertainment industry are based on the following characteristics.
- Fast urbanization
- Laid down safety regulations
- Improvement in networking and communication methods
- Build trustful image
- Employee’s minimization
- Betterment of different processes
The pandemic of COVID-19 has reverted the people to the use of the digital method of working. Social media, apps and other upcoming technologies have shown growth of the TIC market. From ways and means, the global verification program has shown a good supply chain.
When we consider the vertical of the market for sports and entertainment, we find under sports industry divided into the given categories
- Fitness studio
- Water sports items
- Electric cycles
- Climbing parks
The entertainment sector has within its terminology
- Stage and studio items
- Musical instruments
- Camping & seasonal items
Innovation in this sector reaches fast through know-how compliance relevant functionality and service with quality. Government support is forthcoming. The growing investment in AR and VR, use of cloud-based technology and popularity of mergers and acquisitions by the industry; the uninterrupted consolidation of suppliers pioneers the process towards globalization. However, a dearth of testing tools and skilled personnel may dampen the growth of the TIC market. There is optimism that the growth of the TIC market will bring stability to the sports and entertainment industry.
Consumer’s knowledge and awareness are growing through communication media. China and India testing labs in the region. They maintain international standards. The thriving middle-class population has created a demand for safety as well as product quality and sports and entertainment falls within its preview.