The TIC is a compliance assessment organization. Extending services varying from auditing inspection, testing, verification, quality assurance as well as certification. It is inclusive of in-house and outsourced services. The TIC is anticipated to record a CAGR of over 4.86% during the predicted period 2018-2023. The TIC across regions is dependent upon the following factors-
- Government regulations
- Environmental safety
- Quality assurance
- Consumer getting wiser
- Social responsibility
TIC with regards to water industry there is a risk of corrosion which must be treated at national and international level., check out for processing the treatment of wastewater, sanitation of tap water, assessment of water heating according to guidelines. Thus, TIC means surety of manufactured items, individual parts, and multi-component systems functioning well for the determined cause. The quality control thus achieved helps the company to survive by fixing cost, productivity, punctuality in delivery, and market share.
The environment of nations is altering. There is growth in the middle-class segment, urbanization is rapid, the population is shifting from rural to an urban area, strict safety rules, progress in networking certification services as well as communication. All these factors mobilize positivity in the growth of the water industry. The legal and regulatory factors are covered. The government of different countries put in the endeavour for cleaner environment through rules and regulations. Water is a valuable resource and needs planned preservation.
In-house water rules the market, and it is predicted that the largest share it will hold in 2021-2027. In-house is vital for bottled water. Several facets are evaluated such as mobility, supply, equipment, ingredients, maintenance, and distribution network. TIC work such as on-site distribution, skilled and qualified talent and work out custom practices based on the requirement of the organization.
There was a decline in demand and revenue because of a pandemic. TIC safety measures extend revive of business healthily. TIC is a colossal market full of technologically rich environments like AI, robotics, drones, big data, automation, cloud, and cybersecurity. All this form basis of the TIC market in the water industry.