Status : Published Published On : Oct, 2021 Report Code : VRSME9075 Industry : Semiconductor & Electronics Available Format : Page : 180

Global TIC Market for Government & Public Sector– Analysis and Forecast (2021-2027)

Industry Insight by Sourcing Type (In-House and Outsourced), by Service Type (Testing, Inspection, and Certification), by Industry Vertical (Government (Customs Services, Import & Export) And Public Sector (Border Control, E-Government, Quality, Health, Safety and Environment (QHSE), and Road Safety & Vehicle Management)), and Geography (U.S., Canada, Germany, U.K., France, China, Japan, India, and Rest of the World)

Industry Overview

The testing, inspection, and certification market in the government & public sector was USD 4.2 billion in 2020, registering a CAGR of 2.2% during the forecast period 2021-2027. TIC provides services such as auditing, inspecting, testing, verification, quality assurance, certification of the product and equipment, validation to provide efficient products & services and minimize the risk.

TIC Market for Government & Public Sector Highlights

Government across the world are facing various complex issues and are constantly challenged to deliver public services in an effective way with limited and constrained resources. The delivery of public sector services requires a careful and comprehensive approach, adhering to strict regulations, ensuring public safety, and providing services according to stringent standards and schedules.  Moreover, the increasing middle-class populace, urbanization, stringent safety regulations, increasing trade of pirated products, development in networking and communication technology and creating brand image has propelled the growth of the TIC market in the government & public sector Thus, TIC services will help the public sector to find and mitigate the intrinsic risk of operations, supply chain, and business processes so as to provide safety, quality, and cost-effectiveness of public sector services and infrastructure.

The COVID-19 pandemic has led to a sudden and involuntary transition to remote work. Government & Public Sector has to assess, prioritize and develop strategies in real-time and need to intensify IT infrastructure so that government agencies can work better.

Market Segmentation

Insight by Sourcing Type

Based on sourcing type, the TIC market for the government & public sector is bifurcated into in-house and outsourced. Among the two segments, the in-house segment is expected to hold the largest share in the TIC market for government & public sector as there is a need to have a core business expertise. In-house testing and inspection will allow companies to have their in-house testing facilities in terms of technology, assist quality control, trace analysis, contamination issues, skilled personnel, and testing and measurement equipment.

Insight by Service Type

Based on service type, the TIC market for the government & public sector 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 Government & Public Sector in 2020. Digital Testing will provide the government & public sector to practically and organizationally embrace and thrive in the new business and technology. Moreover, it helps organizations secure their confidential and sensitive data via security testing and safeguards their systems from potential cyber security threats. Moreover, inspection services provide validation against the specified performance and certification of products & services.

Insight by Industry Vertical

Based on industry vertical, the TIC market for the government and public sector is divided into government (customs services, import & export) and public sector (border control, E-government, quality, health, safety and environment (QHSE), Road Safety & Vehicle Management). Improved road safety will protect transport users by providing enforcement devices (such as speed cameras) to vehicle inspection, data management and reports, driver verification, and vehicle registration. Moreover, road safety solutions also extend to the implementation and management of traffic systems as well as the homologation of traffic lights (homologation), resulting in the growth of the TIC services in the government & public sector. Imports and Exports will grow at a significant pace and will provide assurance to consumers, brands, and companies that the products are complying with importing countries' regulatory standards, resulting in the growth of the TIC market.

Industry Dynamics

Industry Trends

The TIC for the government & public sector is characterized by various industry trends such as large-scale digital innovations, and focus on remote working, huge investment in AR and VR, and an increase in usage of connected devices and cloud-based technology.

Growth Drivers

TIC services enable the public sector to offer products & services that meet and exceed quality, safety, and performance standards. Moreover, inspection services will validate performance against specification which will lead to certification of products and services when required, resulting in the growth of the TIC market for the government & public sector.

Challenges

The testing, inspection, and certification market face certain challenges like trade wars and growth fluctuations, high barriers to entry, increasing cost of TIC owing to diverse standards and regulations globally, lack of qualified staff and testing facilities.

Opportunities

Testing, inspection, and certification offer opportunities in technologies such as AI, robotics, drones, big data analytics, next-generation automation, and cloud and cybersecurity. Moreover, new research & development in TIC will provide promising opportunities in the TIC market for the government & public sector industry.

Geographic Overview

Geographically, APAC is anticipated to have a high CAGR during the forecast period owing to the growing investment in R&D, urbanization, massive manufacturing capabilities and exports, and awareness among consumers about the significance of certification. Nevertheless, the rising middle-class population has resulted in the growth of private consumption and surging need for safety and product quality, resulting in providing opportunities in government & public sector industry.

Competitive Insight

The industry players are using the COVID-19  pandemic as an opportunity to focus on innovative strategies attracting consumers, using digital platforms to build their image and provide a competitive edge. The industry players are focusing on their competencies to have a competitive edge and are leveraging their strategic collaboration initiatives to enhance their market share and profitability.

Intertek, a leading Total Quality Assurance provider to industries worldwide has been awarded a contract by the Ministry of Industry, Trade, Green and Digital Economy (MICEVN) of Morocco to provide support to the Verification of Conformity Programme (VoC) for exports.

Some of the key players operating in the TIC market in government & public sector industry: Intertek Group plc, Bureau Veritas, UL LLC, SGS SA, Eurofins Scientific, The British Standards Institution, Element Materials Technology, Sai Global Pty Limited, Applus+, and DNV GL.

 

Frequently Asked Questions

The testing, inspection, and certification market in the government & public sector was USD 4.2 billion in 2020
The growth rate of TIC market for government & public sector industry during the forecast period 2021-2027 is 2.2%.
TIC services enable the public sector to offer products & services that meet and exceed quality, safety, and performance standards.
is anticipated to have a high CAGR during the forecast period owing to the growing investment in R&D, urbanization, massive manufacturing capabilities and exports, and awareness among consumers about the significance of certification
Some of the key players operating in the TIC market in government & public sector industry: Intertek Group plc, Bureau Veritas, UL LLC, SGS SA, Eurofins Scientific, The British Standards Institution, Element Materials Technology, Sai Global Pty Limited, Applus+, and DNV GL.

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Research Methodology

  •  Desk Research / Pilot Interviews
  •  Build Market Size Model
  •  Research and Analysis
  •  Final Deliverabvle
TIC Market for Government & Public Sector