Status : Published | Published On : Jan, 2024 | Report Code : VRSME9074 | Industry : Semiconductor & Electronics | Available Format :
![]() |
Page : 165 |
The Electronics & Electrical Products Testing, Inspection, And Certification Market reached USD 28.6 billion in 2030, currently, the market in the year 2023 is USD 13.6 billion with a projected CAGR of 5.1% from 2025 to 2030. This market encompasses various services such as audit, inspection, testing, verification, quality assurance, and certification.
TIC market for electronics and electrical products is witnessing growth owing to the adoption of advanced technologies in the electronics and electrical sector and offering new services and solutions like virtual inspections, visual inspections, and remote auditing during the COVID-19 outbreak. Moreover globalization, rapid urbanization, and rising brand protection, regulatory compliance have propelled the growth of the TIC market for electronics & electrical products. Furthermore, owing to the integration of electronics infrastructure, there is an increasing demand for automotive testing, standards, and regulations to reduce greenhouse emissions from vehicles, rising energy conservation movement in the automotive sector. Also, the growing need for comfort and safety has led to innovations and R&D efforts from OEM and automotive dealers to test electronics parts and comply with regulations, resulting in the growth of the TIC market for electronics & electrical products. Thus, mounting demand for household appliance testing and the increasing need for equipment validation will drive the growth of the TIC market for electronics and electrical products.
The COVID-19 outbreak has led to reduced demand during the first quarter of 2020. However, TIC plays a significant role to assure that customers receive products & services according to safety and security standards.
Based on sourcing type, the TIC market for electronics & electrical products is bifurcated into in-house and outsourced. Among the two segments, the in-house segment is expected to witness the largest share over the projected period 2023-2030 owing to in-house capabilities in terms of specialists, technology, testing and measurement equipment. Thus, providing organizations to manage TIC activities such as on-site availability, ability to employ talent, and make custom practices as per the requirements of the organizations.
Based on service type, the TIC market for electronics & electrical products is segmented into testing, inspection, and certification. Among these segments, the testing segment holds the largest share in the testing, inspection, and certification market in 2020 owing to the different product standards, mandatory regulations, improved safety & security, growing industrialization, and surge in brand protection policies. Electrical components are rigorously tested in a lab environment to ensure compliance with health and safety standards and discover faults at an early stage.
Based on industry vertical, the TIC market for electronics & electrical products is divided into audio, video & household appliances, battery, cells & accumulators, electrical toys & childcare, e-cigarettes, IoT & Information Technology, lighting & luminaries, machinery, microelectronics, solar energy technology, cybersecurity services, chemical & material services, and others. Owing to technological innovation, consumers expect that their household appliances and audio & video products should be safe, reliable, efficient, and should have high performance, resulting in significant growth in the TIC market for electronics & electrical products. Solar energy technology is the most important renewable energy and is growing at a faster pace owing to its uses such as generating electricity, heating, and cooling systems, lighting, and concentrating power.
Report Metric |
Details |
Historical Period |
2020 - 2024 |
Base Year Considered |
2025 |
Forecast Period |
2026 - 2035 |
Market Size in 2025 |
U.S.D. 13.6 Billion |
Revenue Forecast in 2035 |
U.S.D. 28.6 Billion |
Growth Rate |
5.1% |
Segments Covered in the Report |
By Sourcing Type, By Service Type and By Industry Vertical |
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
Regions Covered in the Report |
North America, Europe, Asia-Pacific, Middle East, and Rest of the World |
The trends in the TIC market for electronics & electrical products are rising investment in AR and VR, usage of connected devices and cloud-based technology, and growing M&A by market players
Electrical components play a crucial role in ensuring the safe operation of energy-using products and appliances. The TIC (Testing, Inspection, and Certification) market for electronics and electrical products is expected to experience significant growth due to various factors. These include the increasing demand for household appliance testing and equipment validation, the rise in smart home projects and IoT adoption, the use of cloud-based data storage, the enforcement of government regulations and compliance, and the advancement of smart cities.
Manufacturing and production companies are focusing on delivering high-quality products to satisfy consumers. Additionally, the emergence of digital platforms, the growing need for interoperability testing for connected devices and IoT, and the expansion of global trade will further contribute to the growth of the TIC market in the electronics and electrical products sector.
The lack of global certification standards, growth fluctuations, trade wars, massive investment in automating and installing industrial safety systems, lack of testing facilities, and huge cost involved in TIC due to diverse standards and regulations may restrict the growth of the testing, inspection, and certification market in electronics & electrical products.
TIC Market for Electronics & Electrical Products Industry Opportunities
Testing, inspection, and certification offer promising opportunities in technologies like Artificial Intelligence, robotics, drones, big data analytics, next-generation automation, and cloud and cybersecurity.
North America dominates the market of TIC in electronics & electrical products owing to strict testing and inspection regulations and standard certifications such as USTC, CEC, and NOM in the country which has contributed to the growth of TIC in the region. Moreover, the demand for TIC services has increased resulting in the growth of the TIC market for electronics & electrical products.
Key players are innovating digital payment technologies and services to a market and are aware of national and regional guidelines to verify that the products are safe and secure. The market players are taking advantage of the COVID-19 crisis to restructure their existing strategies and introduce new services and delivery models to facilitate demand. The market players are leveraging strategic collaborative initiatives to enhance their market share, increase their geographical presence, and improve their profitability.
Bureau Veritas provides electrical safety testing and certification services that help gain access to global markets. This certification program test products against recognized safety standards relating to criteria such as electric shock, excessive temperature, radiation, implosion, and mechanical hazards and fire.
UL Solutions helps to bring innovative technology and electronics products to the market with confidence that they meet applicable regulations and consumer demands for reliability and performance.
Some of the key players operating in the TIC market in the electronics & electrical products industry are Intertek Group plc, Bureau Veritas, UL LLC, SGS SA, Eurofins Scientific, TUV Rheinland, DEKRA SE, TUV Nord, Applus+, and DNV GL.
Intertek (a leading Total Quality Assurance provider to industries worldwide) has partnered with the Current/OS Foundation, a non-profit, independent and open foundation for the promotion and adoption of active Direct Current (DC) Microgrids based on the Current/OS set of rules.
Bureau Veritas has signed definitive agreements to acquire three players to diversify its position in testing and certification services for the Electrical and Electronics consumer products segment in South and North-East Asia provide services to a wide portfolio of domestic clients in Korea, including large manufacturers, exporters, and brands for electrical and electronic products, household appliances, and new mobility products.
GS Mexico stated its accreditation to perform full scope testing against the RoHS Directive of the European Union, which seeks to reduce the environmental effects of electrical and electronic equipment (EEE).
Bureau Veritas announced that they will provide their expertise to the Eolmed project. It will consist of three wind turbines with a combined capacity of 30MW and will be able to satisfy the energy needs of 50,000 people. The wind turbines will be mounted on floating platforms more than 18 km from the shore and grounded at an average depth of 60 meters.
The TIC Market for Electronics & Electrical Products Industry report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
Segments Covered in the Report
Region Covered in the Report
Source: VynZ Research
Source: VynZ Research
1. Research Overview
1.1. The Report Offers
1.2. Market Coverage
1.2.1. By Sourcing Type
1.2.2. By Service Type
1.2.3. By Industry Vertical
1.2.4. By Region
1.3. Research Phases
1.4. Limitations
1.5. Market Methodology
1.5.1. Data Sources
1.5.1.1. Primary Research
1.5.1.2. Secondary Research
1.5.2. Methodology
1.5.2.1. Data Exploration
1.5.2.2. Forecast Parameters
1.5.2.3. Data Validation
1.5.2.4. Assumptions
1.5.3. Study Period & Data Reporting Unit
2. Executive Summary
3. Industry Overview
3.1. Industry Dynamics
3.1.1. Market Growth Drivers
3.1.2. Market Restraints
3.1.3. Key Market Trends
3.1.4. Major Opportunities
3.2. Industry Ecosystem
3.2.1. Porter’s Five Forces Analysis
3.2.2. Recent Development Analysis
3.2.3. Value Chain Analysis
3.3. Competitive Insight
3.3.1. Competitive Position of Industry Players
3.3.2. Market Attractive Analysis
3.3.3. Market Share Analysis
4. Global Market Estimate and Forecast
4.1. Global Market Overview
4.2. Global Market Estimate and Forecast to 2030
5. Market Segmentation Estimate and Forecast
5.1. By Sourcing Type
5.1.1. In-House
5.1.1.1. Market Definition
5.1.1.2. Market Estimation and Forecast to 2030
5.1.2. Outsourced
5.1.2.1. Market Definition
5.1.2.2. Market Estimation and Forecast to 2030
5.2. By Service Type
5.2.1. Testing
5.2.1.1. Market Definition
5.2.1.2. Market Estimation and Forecast to 2030
5.2.2. Inspection
5.2.2.1. Market Definition
5.2.2.2. Market Estimation and Forecast to 2030
5.2.3. Certification
5.2.3.1. Market Definition
5.2.3.2. Market Estimation and Forecast to 2030
5.3. By Industry Vertical
5.3.1. Audio, Video & Household Appliances
5.3.1.1. Market Definition
5.3.1.2. Market Estimation and Forecast to 2030
5.3.2. Battery, Cells & Accumulators
5.3.2.1. Market Definition
5.3.2.2. Market Estimation and Forecast to 2030
5.3.3. Electrical Toys & Childcare
5.3.3.1. Market Definition
5.3.3.2. Market Estimation and Forecast to 2030
5.3.4. E-Cigarettes
5.3.4.1. Market Definition
5.3.4.2. Market Estimation and Forecast to 2030
5.3.5. IoT & Information Technology
5.3.5.1. Market Definition
5.3.5.2. Market Estimation and Forecast to 2030
5.3.6. Lighting & Luminaries
5.3.6.1. Market Definition
5.3.6.2. Market Estimation and Forecast to 2030
5.3.7. Machinery
5.3.7.1. Market Definition
5.3.7.2. Market Estimation and Forecast to 2030
5.3.8. Microelectronics
5.3.8.1. Market Definition
5.3.8.2. Market Estimation and Forecast to 2030
5.3.9. Solar Energy Technology
5.3.9.1. Market Definition
5.3.9.2. Market Estimation and Forecast to 2030
5.3.10. Cybersecurity Services
5.3.10.1. Market Definition
5.3.10.2. Market Estimation and Forecast to 2030
5.3.11. Chemical & Material Services
5.3.11.1. Market Definition
5.3.11.2. Market Estimation and Forecast to 2030
5.3.12. Others
5.3.12.1. Market Definition
5.3.12.2. Market Estimation and Forecast to 2030
6. North America Market Estimate and Forecast
6.1. By Sourcing Type
6.2. By Service Type
6.3. By Industry Vertical
6.4. By Country
6.4.1. U.S. Market Estimate and Forecast
6.4.2. Canada Market Estimate and Forecast
6.4.3. Mexico Market Estimate and Forecast
7. Europe Market Estimate and Forecast
7.1. By Sourcing Type
7.2. By Service Type
7.3. By Industry Vertical
7.4. By Country
7.4.1. Germany Market Estimate and Forecast
7.4.2. France Market Estimate and Forecast
7.4.3. U.K. Market Estimate and Forecast
7.4.4. Italy Market Estimate and Forecast
7.4.5. Spain Market Estimate and Forecast
7.4.6. Rest of Europe Market Estimate and Forecast
8. Asia-Pacific Market Estimate and Forecast
8.1. By Sourcing Type
8.2. By Service Type
8.3. By Industry Vertical
8.4. By Country
8.4.1. China Market Estimate and Forecast
8.4.2. Japan Market Estimate and Forecast
8.4.3. India Market Estimate and Forecast
8.4.4. South Korea Market Estimate and Forecast
8.4.5. Singapore Market Estimate and Forecast
8.4.6. Rest of Asia-Pacific Market Estimate and Forecast
9. Rest of the World (RoW) Market Estimate and Forecast
9.1. By Sourcing Type
9.2. By Service Type
9.3. By Industry Vertical
9.4. By Country
9.4.1. Brazil Market Estimate and Forecast
9.4.2. Saudi Arabia Market Estimate and Forecast
9.4.3. South Africa Market Estimate and Forecast
9.4.4. Other Countries Market Estimate and Forecast
10. Company Profiles
10.1. Intertek Group plc
10.1.1. Snapshot
10.1.2. Overview
10.1.3. Offerings
10.1.4. Financial Insight
10.1.5. Recent Developments
10.2. Bureau Veritas
10.2.1. Snapshot
10.2.2. Overview
10.2.3. Offerings
10.2.4. Financial Insight
10.2.5. Recent Developments
10.3. UL LLC
10.3.1. Snapshot
10.3.2. Overview
10.3.3. Offerings
10.3.4. Financial Insight
10.3.5. Recent Developments
10.4. SGS SA
10.4.1. Snapshot
10.4.2. Overview
10.4.3. Offerings
10.4.4. Financial Insight
10.4.5. Recent Developments
10.5. Eurofins Scientific
10.5.1. Snapshot
10.5.2. Overview
10.5.3. Offerings
10.5.4. Financial Insight
10.5.5. Recent Developments
10.6. TUV Rheinland
10.6.1. Snapshot
10.6.2. Overview
10.6.3. Offerings
10.6.4. Financial Insight
10.6.5. Recent Developments
10.7. DEKRA SE
10.7.1. Snapshot
10.7.2. Overview
10.7.3. Offerings
10.7.4. Financial Insight
10.7.5. Recent Developments
10.8. TUV Nord
10.8.1. Snapshot
10.8.2. Overview
10.8.3. Offerings
10.8.4. Financial Insight
10.8.5. Recent Developments
10.9. Applus+
10.9.1. Snapshot
10.9.2. Overview
10.9.3. Offerings
10.9.4. Financial Insight
10.9.5. Recent Developments
10.10. DNV GL
10.10.1. Snapshot
10.10.2. Overview
10.10.3. Offerings
10.10.4. Financial Insight
10.10.5. Recent Developments
11. Appendix
11.1. Exchange Rates
11.2. Abbreviations
Note: Financial insight and recent developments of different companies are subject to the availability of information in the secondary domain.
List of Tables
Table 1 Sources
Table 2 Study Periods
Table 3 Data Reporting Unit
Table 4 Global TIC Market for Electronics & Electrical Products Size, By Sourcing Type, 2018 - 2023 (USD Billion)
Table 5 Global TIC Market for Electronics & Electrical Products Size, By Sourcing Type, 2025 - 2030 (USD Billion)
Table 6 Global TIC Market for Electronics & Electrical Products Size, By Service Type, 2018 - 2023 (USD Billion)
Table 7 Global TIC Market for Electronics & Electrical Products Size, By Service Type, 2025 - 2030 (USD Billion)
Table 8 Global TIC Market for Electronics & Electrical Products Size, By Industry Vertical, 2018 - 2023 (USD Billion)
Table 9 Global TIC Market for Electronics & Electrical Products Size, By Industry Vertical, 2025 - 2030 (USD Billion)
Table 10 Global TIC Market for Electronics & Electrical Products Size, by Region, 2018 - 2023 (USD Billion)
Table 11 Global TIC Market for Electronics & Electrical Products Size, by Region, 2025 - 2030 (USD Billion)
Table 12 North America TIC Market for Electronics & Electrical Products Size, By Sourcing Type, 2018 - 2023 (USD Billion)
Table 13 North America TIC Market for Electronics & Electrical Products Size, By Sourcing Type, 2025 - 2030 (USD Billion)
Table 14 North America TIC Market for Electronics & Electrical Products Size, By Service Type, 2018 - 2023 (USD Billion)
Table 15 North America TIC Market for Electronics & Electrical Products Size, By Service Type, 2025 - 2030 (USD Billion)
Table 16 North America TIC Market for Electronics & Electrical Products Size, By Industry Vertical, 2018 - 2023 (USD Billion)
Table 17 North America TIC Market for Electronics & Electrical Products Size, By Industry Vertical, 2025 - 2030 (USD Billion)
Table 18 North America TIC Market for Electronics & Electrical Products Size, by Region, 2018 - 2023 (USD Billion)
Table 19 North America TIC Market for Electronics & Electrical Products Size, by Region, 2025 - 2030 (USD Billion)
Table 20 Europe TIC Market for Electronics & Electrical Products Size, By Sourcing Type, 2018 - 2023 (USD Billion)
Table 21 Europe TIC Market for Electronics & Electrical Products Size, By Sourcing Type, 2025 - 2030 (USD Billion)
Table 22 Europe TIC Market for Electronics & Electrical Products Size, By Service Type, 2018 - 2023 (USD Billion)
Table 23 Europe TIC Market for Electronics & Electrical Products Size, By Service Type, 2025 - 2030 (USD Billion)
Table 24 Europe TIC Market for Electronics & Electrical Products Size, By Industry Vertical, 2018 - 2023 (USD Billion)
Table 25 Europe TIC Market for Electronics & Electrical Products Size, By Industry Vertical, 2025 - 2030 (USD Billion)
Table 26 Europe TIC Market for Electronics & Electrical Products Size, by Region, 2018 - 2023 (USD Billion)
Table 27 Europe TIC Market for Electronics & Electrical Products Size, by Region, 2025 - 2030 (USD Billion)
Table 28 Asia-Pacific TIC Market for Electronics & Electrical Products Size, By Sourcing Type, 2018 - 2023 (USD Billion)
Table 29 Asia-Pacific TIC Market for Electronics & Electrical Products Size, By Sourcing Type, 2025 - 2030 (USD Billion)
Table 30 Asia-Pacific TIC Market for Electronics & Electrical Products Size, By Service Type, 2018 - 2023 (USD Billion)
Table 31 Asia-Pacific TIC Market for Electronics & Electrical Products Size, By Service Type, 2025 - 2030 (USD Billion)
Table 32 Asia-Pacific TIC Market for Electronics & Electrical Products Size, By Industry Vertical, 2018 - 2023 (USD Billion)
Table 33 Asia-Pacific TIC Market for Electronics & Electrical Products Size, By Industry Vertical, 2025 - 2030 (USD Billion)
Table 34 Asia-Pacific TIC Market for Electronics & Electrical Products Size, by Region, 2018 - 2023 (USD Billion)
Table 35 Asia-Pacific TIC Market for Electronics & Electrical Products Size, by Region, 2025 - 2030 (USD Billion)
Table 36 RoW TIC Market for Electronics & Electrical Products Size, By Sourcing Type, 2018 - 2023 (USD Billion)
Table 37 RoW TIC Market for Electronics & Electrical Products Size, By Sourcing Type, 2025 - 2030 (USD Billion)
Table 38 RoW TIC Market for Electronics & Electrical Products Size, By Service Type, 2018 - 2023 (USD Billion)
Table 39 RoW TIC Market for Electronics & Electrical Products Size, By Service Type, 2025 - 2030 (USD Billion)
Table 40 RoW TIC Market for Electronics & Electrical Products Size, By Industry Vertical, 2018 - 2023 (USD Billion)
Table 41 RoW TIC Market for Electronics & Electrical Products Size, By Industry Vertical, 2025 - 2030 (USD Billion)
Table 42 RoW TIC Market for Electronics & Electrical Products Size, by Region, 2018 - 2023 (USD Billion)
Table 43 RoW TIC Market for Electronics & Electrical Products Size, by Region, 2025 - 2030 (USD Billion)
Table 44 Snapshot – Intertek Group plc
Table 45 Snapshot – Bureau Veritas
Table 46 Snapshot – UL LLC
Table 47 Snapshot – SGS SA
Table 48 Snapshot – Eurofins Scientific
Table 49 Snapshot – TUV Rheinland
Table 50 Snapshot – DEKRA SE
Table 51 Snapshot – TUV Nord
Table 52 Snapshot – Applus+
Table 53 Snapshot – DNV GL
List of Figures
Figure 1 Market Coverage
Figure 2 Research Phases
Figure 3 Secondary Sources for Different Parameters
Figure 4 Methodology
Figure 5 Data Mining & Exploration
Figure 6 Data Triangulation
Figure 7 Assumptions for Market Estimation and Forecast
Figure 8 Market Synopsis
Figure 9 Global TIC Market for Electronics & Electrical Products - Growth Drivers and Restraints
Figure 10 Competitive Benchmark
Figure 11 Global TIC Market for Electronics & Electrical Products Highlight
Figure 12 Global TIC Market for Electronics & Electrical Products Size, By Sourcing Type, 2018 - 2030 (USD Billion)
Figure 13 Global TIC Market for Electronics & Electrical Products Size, By Service Type, 2018 - 2030 (USD Billion)
Figure 14 Global TIC Market for Electronics & Electrical Products Size, By Industry Vertical, 2018 - 2030 (USD Billion)
Figure 15 Global TIC Market for Electronics & Electrical Products Size, by Region, 2018 - 2030 (USD Billion)
Figure 16 North America TIC Market for Electronics & Electrical Products Highlight
Figure 17 North America TIC Market for Electronics & Electrical Products Size, By Sourcing Type, 2018 - 2030 (USD Billion)
Figure 18 North America TIC Market for Electronics & Electrical Products Size, By Service Type, 2018 - 2030 (USD Billion)
Figure 19 North America TIC Market for Electronics & Electrical Products Size, By Industry Vertical, 2018 - 2030 (USD Billion)
Figure 20 North America TIC Market for Electronics & Electrical Products Size, by Region, 2018 - 2030 (USD Billion)
Figure 21 Europe TIC Market for Electronics & Electrical Products Highlight
Figure 22 Europe TIC Market for Electronics & Electrical Products Size, By Sourcing Type, 2018 - 2030 (USD Billion)
Figure 23 Europe TIC Market for Electronics & Electrical Products Size, By Service Type, 2018 - 2030 (USD Billion)
Figure 24 Europe TIC Market for Electronics & Electrical Products Size, By Industry Vertical, 2018 - 2030 (USD Billion)
Figure 25 Europe TIC Market for Electronics & Electrical Products Size, by Region, 2018 - 2030 (USD Billion)
Figure 26 Asia-Pacific TIC Market for Electronics & Electrical Products Highlight
Figure 27 Asia-Pacific TIC Market for Electronics & Electrical Products Size, By Sourcing Type, 2018 - 2030 (USD Billion)
Figure 28 Asia-Pacific TIC Market for Electronics & Electrical Products Size, By Service Type, 2018 - 2030 (USD Billion)
Figure 29 Asia-Pacific TIC Market for Electronics & Electrical Products Size, By Industry Vertical, 2018 - 2030 (USD Billion)
Figure 30 Asia-Pacific TIC Market for Electronics & Electrical Products Size, by Region, 2018 - 2030 (USD Billion)
Figure 31 RoW TIC Market for Electronics & Electrical Products Highlight
Figure 32 RoW TIC Market for Electronics & Electrical Products Size, By Sourcing Type, 2018 - 2030 (USD Billion)
Figure 33 RoW TIC Market for Electronics & Electrical Products Size, By Service Type, 2018 - 2030 (USD Billion)
Figure 34 RoW TIC Market for Electronics & Electrical Products Size, By Industry Vertical, 2018 - 2030 (USD Billion)
Figure 35 RoW TIC Market for Electronics & Electrical Products Size, by Region, 2018 - 2030 (USD Billion)
Global TIC Market for Electronics & Electrical Products Industry- Market Coverage
Sourcing Type Insight and Forecast 2025-2030
Service Type Insight and Forecast 2025-2030
Industry Vertical Insight and Forecast 2025-2030
Geographical Segmentation
TIC Market for Electronics & Electrical Products Industry by Region
North America
Europe
Asia-Pacific (APAC)
Rest of the World (RoW)
Vynz Research know in your business needs, you required specific answers pertaining to the market, Hence, our experts and analyst can provide you the customized research support on your specific needs.
After the purchase of current report, you can claim certain degree of free customization within the scope of the research.
Please let us know, how we can serve you better with your specific requirements to your research needs. Vynz research promises for quick reversal for your current business requirements.
Purchase Options
Latest Report
Research Methodology
Connect With Our Sales Team
TIC Market for Electronics & Electrical Products Industry