Global TIC Market for IT & Telecom Industry is Anticipated to grow at a Significant Pace and was USD 3.05 billion in 2020

Published Date: Oct, 2021

The TIC market for the IT & Telecom industry is expected to witness a CAGR of 3.5% during the forecast period. IT & telecommunication industry focus on the importance to protect the networks and communication channels and secures communication over encrypted networks and technology, resulting in the growth of the TIC market for the IT & telecom industry. Moreover, the growing need of enterprises and corporations to provide safe and efficient testing, inspection, and certification practices will propel market growth. Globalization, industrialization, technological development, adoption of cloud-based technology, rising need for certification requirements, adoption of high-speed networks, cybersecurity, and digital devices will fuel the market growth in the TIC market for the IT and Telecom industry.

The COVID-19 outbreak has had an unprecedented impact on the IT & Telecom industry which has disrupted the supply chain globally. So, companies need to have business continuity plans to ensure operational efficiencies and take strategic actions resulting in the growth of the TIC market for the IT & Telecom industry. Nevertheless, the TIC market is attributed to growth during the COVID-19 crisis due to innovation in services, for instance, virtual inspections, visual inspection, and remote auditing.  

TÜV Rheinland has signed a contract for cooperation with Ericsson, the leading provider of mobile communications infrastructure to service providers i.e., Ericsson Device Hub (EDH) ecosystem. Ericsson and TÜV Rheinland will offer manufacturers of radio and telecommunications products all services related to global market launch and can reduce the previous complexity of product launch and marketing on the part of product providers.

Browse 53 market data Tables and 35 Figures spread through 300 Pages and in-depth TOC on " TIC Market for IT & Telecom Industry by Sourcing Type (In-House and Outsourced), by Service Type (Testing, Inspection, and Certification), by Industry Vertical (Radio Equipment Directive, FCC Testing, IMDA Equipment registration Network, Data Centre, Radio & Wireless Testing, Digital Payments, Radio Frequency Equipment, Specific Absorption Rate (SAR) Testing, Electromagnetic Compatibility (EMC) Testing, Environmental Testing, and Others), and Region - Global Forecast to 2027"

By sourcing type, the inhouse segment contributes to the largest revenue in the TIC market for the IT & Telcom industry during the forecast period.

Based on sourcing type, the TIC market for the IT & telecommunication industry is segregated into in-house and outsourced. In-house dominates the market as companies’ sensitive information that is stored on in-house servers and files via messages, images, documents, etc. are delivered to trading partners and customers. Thus, it gives emphasis on cybersecurity and meets stringent compliance requirements.

Global TIC Market for IT & Telecom Industry Segmentation Analysis

Segment

Categorization

Leading Category

Sourcing Type

In-House and Outsourced

In-House (Largest)

Service Type

Testing, Inspection, and Certification

Testing (Largest) Certification

 (High CAGR)

Industry Vertical

Radio Equipment Directive, FCC Testing, IMDA Equipment registration Network, Data Centre, Radio & Wireless Testing, Digital Payments, Radio Frequency Equipment, Specific Absorption Rate (SAR) Testing, Electromagnetic Compatibility (EMC) Testing, Environmental Testing, and Others

Radio Equipment Directive  

(Significant Growth)

 

 

Region

North America, Europe, Asia-Pacific, and Rest of the World

Asia-Pacific

(High CAGR)

Discover More About This Report, Download A Free Sample Copy of TIC Market for IT & Telecom Industry

“APAC is anticipated to witness fastest-growing region during the forecast period in the TIC market for the chemical industry.”

Asia-Pacific is anticipated to have a high CAGR during the forecast period owing to the adoption of advanced technology, the presence of major industry players, and initiatives taken by the government on R&D. Also, there is the rising number of TIC start-ups because of the initiatives taken by the government will create opportunities for the TIC market for the IT & Telecom industry.

Some of the key players operating in the TIC market in the IT & Telecommunication industry: Intertek Group plc, Bureau Veritas, UL LLC, SGS SA, Eurofins Scientific, TUV Rheinland, TUV SUD, The Lloyd Register Group Limited, Element Materials Technology, and Applus+.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2015–2027

Historical Period

2015–2020

Base Year

2020

Forecast Period

2021–2027

Segments Covered in the Study

Sourcing Type, Service Type, Industry Vertical, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

Intertek Group plc, Bureau Veritas, UL LLC, SGS SA, Eurofins Scientifc, TUV Rheinland, TUV SUD, The Lloyd Register Group Limited, Element Materials Technology, and Applus+

Global TIC Market for IT & Telecom Industry- Market Coverage

Sourcing Type Insight and Forecast 2015-2027

  • In-House
  • Outsourced

Service Type Insight and Forecast 2015-2027

  • Testing
  • Inspection
  • Certification

Industry Vertical Insight and Forecast 2015-2027

  • Radio Equipment Directive
  • FCC Testing
  • IMDA Equipment Registration Network
  • Data Centre, Radio & Wireless Testing
  • Digital Payments
  • Radio Frequency Equipment
  • Specific Absorption Rate (SAR) Testing
  • Electromagnetic Compatibility (EMC) Testing
  • Environmental Testing
  • Others

Geographical Segmentation

TIC Market for IT & Telecom Industry by Region

North America

  • By Sourcing Type
  • By Service Type
  • By Industry Vertical
  • By Country – U.S., Canada, and Mexico

Europe

  • By Sourcing Type
  • By Service Type
  • By Industry Vertical
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Sourcing Type
  • By Service Type
  • By Industry Vertical
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Sourcing Type
  • By Service Type
  • By Industry Vertical
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries

 

 

 

Our Industry
Global TIC Market for IT & Telecom Industry is Anticipated to grow at a Significant Pace and was USD 3.05 billion in 2020