Table of Content

1    INTRODUCTION    36
1.1    STUDY OBJECTIVES    36
1.2    MARKET DEFINITION AND SCOPE    36
1.2.1    INCLUSIONS AND EXCLUSIONS    37
1.3    STUDY SCOPE    37
1.3.1    MARKETS COVERED    37
FIGURE 1    TIC MARKET SEGMENTATION    38
1.3.2    YEARS CONSIDERED    39
1.4    CURRENCY    39
1.5    LIMITATIONS    39
1.6    STAKEHOLDERS    40
1.7    SUMMARY OF CHANGES MADE    40
2    RESEARCH METHODOLOGY    41
2.1    RESEARCH DATA    41
FIGURE 2    RESEARCH DESIGN    41
2.1.1    SECONDARY DATA    42
2.1.1.1    Key data from secondary sources    42
2.1.2    PRIMARY DATA    43
2.1.2.1    Key data from primary sources    43
2.1.2.2    Key industry insights    44
2.1.2.3    Breakdown of primaries    44
2.2    MARKET SIZE ESTIMATION    45
FIGURE 3    PROCESS FLOW OF MARKET SIZE ESTIMATION    45
2.2.1    MARKET SIZE ESTIMATION METHODOLOGY: SUPPLY-SIDE APPROACH    46
2.2.2    BOTTOM-UP APPROACH    46
2.2.3    TOP-DOWN APPROACH    47
2.3    MARKET BREAKDOWN AND DATA TRIANGULATION    48
FIGURE 4    DATA TRIANGULATION    48
2.4    LIMITATIONS    49
TABLE 1    STUDY LIMITATIONS    49
2.5    RESEARCH ASSUMPTION    50
TABLE 2    STUDY ASSUMPTIONS    50
2.6    COVID-19 ASSUMPTION    51
3    EXECUTIVE SUMMARY    52
FIGURE 5    IMPACT OF COVID-19 ON TIC MARKET (2016–2025)    53
FIGURE 6    TIC TESTING MARKET, BY SERVICE TYPE (2019)    54
FIGURE 7    TIC TESTING MARKET, BY APPLICATION (2019)    54
FIGURE 8    TIC MARKET SHARE, BY REGION (2019)    55
4    PREMIUM INSIGHTS    56
4.1    ATTRACTIVE OPPORTUNITIES IN TIC MARKET    56
FIGURE 9    RAPID ADOPTION OF PRODUCT STANDARDIZATION PRACTICES AND PENETRATION OF ADVANCED TECHNOLOGIES ACROSS MULTIPLE INDUSTRIES TO LEAD TIC MARKET GROWTH DURING FORECAST PERIOD    56
4.2    TIC MARKET, BY SERVICE    56
FIGURE 10    TESTING SERVICES TO HOLD LARGEST SIZE OF TIC MARKET IN 2020    56
4.3    TIC MARKET, BY APPLICATION    57
FIGURE 11    CONSUMER GOODS AND RETAIL APPLICATION TO ACCOUNT FOR LARGEST SIZE OF TIC MARKET IN 2020    57
4.4    TIC MARKET, BY AGRICULTURE AND FOOD APPLICATION    58
FIGURE 12    COMMODITIES TO WITNESS HIGHEST CAGR IN TIC MARKET FOR AGRICULTURE AND FOOD APPLICATION DURING FORECAST PERIOD    58
4.5    TIC MARKET, BY REGION    58
FIGURE 13    US ACCOUNTED FOR LARGEST SHARE OF TIC MARKET IN 2019    58
5    MARKET OVERVIEW    59
5.1    INTRODUCTION    59
5.2    MARKET DYNAMICS    60
FIGURE 14    TESTING, INSPECTION, AND CERTIFICATION (TIC) MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES    60
5.2.1    DRIVERS    61
FIGURE 15    TIC MARKET DRIVERS AND THEIR IMPACT    61
5.2.1.1    Surge in illicit trade of counterfeit and pirated goods    61
FIGURE 16    FOOTWEAR AND CLOTHING CONTRIBUTE MOST TO FAKE GOODS TRADING (2016)    61
5.2.1.2    Inclination toward outsourcing TIC services    62
5.2.1.3    High demand for testing services to ensure effective interoperability of connected devices and networks    62
FIGURE 17    GLOBAL IOT CONNECTIONS, 2018–2025 (BILLION)    63
5.2.1.4    Advancements in networking and communication technologies    63
5.2.2    RESTRAINTS    64
FIGURE 18    TIC MARKET RESTRAINT AND ITS IMPACT    64
5.2.2.1    Diverse standards and regulations among many different nations    64
TABLE 3    COST ESTIMATION FOR DIFFERENT STAGES OF EMC TESTING    65
5.2.3    OPPORTUNITIES    65
FIGURE 19    TIC MARKET OPPORTUNITIES AND THEIR IMPACT    65
5.2.3.1    Rise in demand for TIC services globally    65
5.2.3.2    Growth opportunities for small and medium-sized businesses    66
FIGURE 20    COMPANY-WISE NUMBER OF ACQUISITIONS FROM 2013 TO 2017    66
5.2.4    CHALLENGES    67
FIGURE 21    TIC MARKET CHALLENGE AND ITS IMPACT    67
5.2.4.1    Adoption of advanced technologies by smaller TIC players    67
5.3    INDUSTRY TRENDS    68
5.3.1    VALUE CHAIN ANALYSIS    68
FIGURE 22    VALUE CHAIN ANALYSIS: TIC MARKET    68
5.3.2    KEY INDUSTRY TRENDS    69
TABLE 4    MAJOR TRENDS IN TIC MARKET    69
5.3.3    PEST ANALYSIS    70
5.3.3.1    Political factors    70
5.3.3.2    Economic factors    70
5.3.3.3    Social factors    70
5.3.3.4    Technological factors    71
5.4    IMPACT OF COVID-19 ON TIC MARKET    71
5.4.1    COVID DRIVERS    72
5.4.1.1    increased demand for TIC services in healthcare industry    72
5.4.1.2    Rise in adoption of TIC services to ensure food safety    72
5.4.2    POST-COVID CHALLENGES    72
5.4.2.1    Post-COVID challenges faced by testing, inspection, and certification industry players    72
6    TIC MARKET, BY SERVICE TYPE    73
6.1    INTRODUCTION    74
6.2    IMPACT OF COVID-19 ON CERTIFICATION SERVICES    74
TABLE 5    TIC CERTIFICATION MARKET, 2016–2025 (USD MILLION)    74
FIGURE 23    TIC CERTIFICATION SERVICES MARKET (2016–2025)    75
FIGURE 24    TESTING SERVICES TO CONTINUE TO ACCOUNT FOR LARGEST SIZE OF
TIC MARKET DURING FORECAST PERIOD    76
TABLE 6    TIC MARKET, BY SERVICE TYPE, 2016–2019 (USD MILLION)    76
TABLE 7    TIC MARKET, BY SERVICE TYPE, 2020–2025 (USD MILLION)    77
6.3    TESTING    77
6.3.1    FOOD AND DRUGS TESTING HAS LED TO INCREASE IN DEMAND FOR
TIC SERVICES    77
6.4    INSPECTION    78
6.4.1    INSPECTION SERVICES ALLOW PRODUCTS TO MEET INDUSTRY STANDARDS AND GOVERNMENT NORMS TO MINIMIZE LOSSES DUE TO DEFECTIVE PRODUCTS    78
6.5    CERTIFICATION    78
6.5.1    COMPLIANCE TO ENSURE MARKETABILITY OF PRODUCT IS ACHIEVED THROUGH CERTIFICATION SERVICES    78
6.6    OTHERS    79
7    TIC MARKET, BY SOURCING TYPE    80
7.1    INTRODUCTION    81
7.2    IMPACT OF COVID-19 ON OUTSOURCED SERVICES    81
TABLE 8    TIC OUTSOURCED SERVICES MARKET, 2016–2025 (USD MILLION)    81
FIGURE 25    TIC OUTSOURCED SERVICES MARKET (2016–2025)    81
FIGURE 26    IN-HOUSE SERVICES TO ACCOUNT FOR LARGEST SIZE OF TIC MARKET IN 2020    82
TABLE 9    TIC MARKET, BY SOURCING TYPE, 2016–2019 (USD MILLION)    82
TABLE 10    TIC MARKET, BY SOURCING TYPE, 2020–2025 (USD MILLION)    83
7.3    IN-HOUSE SERVICES    83
7.3.1    IN-HOUSE TESTING SERVICES TO CONTINUE TO CAPTURE LARGER MARKET SHARE DURING FORECAST PERIOD    83
7.4    OUTSOURCED SERVICES    84
7.4.1    MARKET FOR OUTSOURCED SERVICES TO GROW AT HIGHER CAGR DURING 2020–2025    84
8    TIC MARKET, BY APPLICATION    85
8.1    INTRODUCTION    86
8.2    IMPACT OF COVID-19 ON AGRICULTURE AND FOOD    86
TABLE 11    TIC AGRICULTURE AND FOOD MARKET, 2016–2025 (USD MILLION)    86
FIGURE 27    TIC AGRICULTURE AND FOOD MARKET, BY APPLICATION (2016–2025)    86
FIGURE 28    CONSUMER GOODS AND RETAIL APPLICATION TO HOLD LARGEST MARKET SIZE OF GLOBAL TIC MARKET IN 2020    87
TABLE 12    TIC MARKET, BY APPLICATION, 2016–2019 (USD MILLION)    88
TABLE 13    TIC MARKET, BY APPLICATION, 2020–2025 (USD MILLION)    89
8.3    CONSUMER GOODS AND RETAIL    90
8.3.1    STRICT MEASURES ARE TAKEN TO TEST AND CERTIFY ELECTRICAL AND ELECTRONIC PRODUCTS WITHIN CONSUMER GOODS AND RETAIL APPLICATION    90
8.3.2    PERSONAL CARE AND BEAUTY PRODUCTS    90
8.3.3    HARD GOODS    90
8.3.4    SOFTLINES AND ACCESSORIES    91
8.3.5    TOYS AND JUVENILE PRODUCTS    91
8.3.6    ELECTRICAL AND ELECTRONICS    92
8.3.7    OTHERS    93
TABLE 14    TIC MARKET FOR CONSUMER GOODS AND RETAIL APPLICATION, BY TYPE, 2016–2019 (USD MILLION)    94
TABLE 15    TIC MARKET FOR CONSUMER GOODS AND RETAIL APPLICATION, BY TYPE, 2020–2025 (USD MILLION)    94
8.4    AGRICULTURE AND FOOD    94
8.4.1    HIGH DEMAND FOR CERTIFIED FOOD PRODUCTS HAS DRIVEN MARKET FOR TIC SERVICES FOR AGRICULTURE AND FOOD APPLICATIONS    94
8.4.2    SEEDS AND CROPS    95
8.4.3    FERTILIZERS    95
8.4.4    COMMODITIES    95
8.4.5    FOOD    95
8.4.6    FORESTRY    96
8.4.7    OTHERS    96
TABLE 16    TIC MARKET FOR AGRICULTURE AND FOOD APPLICATION, BY TYPE,
2016–2019 (USD MILLION)    97
TABLE 17    TIC MARKET FOR AGRICULTURE AND FOOD APPLICATION, BY TYPE,
2020–2025 (USD MILLION)    97
8.5    CHEMICALS    97
8.5.1    ASSET INTEGRITY MANAGEMENT SERVICES ENSURE PRODUCTIVITY, RELIABILITY, AND SAFETY OF PLANT ASSETS    97
8.5.2    ASSET INTEGRITY MANAGEMENT SERVICES    98
8.5.3    PROJECT LIFECYCLE SERVICES    98
8.5.4    FINISHED PRODUCT SERVICES    98
8.5.5    CHEMICAL FEEDSTOCK SERVICES    98
8.5.6    OTHERS    98
TABLE 18    TIC MARKET FOR CHEMICAL APPLICATION, BY TYPE,
2016–2019 (USD MILLION)    99
TABLE 19    TIC MARKET FOR CHEMICAL APPLICATION, BY TYPE,
2020–2025 (USD MILLION)    99
8.6    CONSTRUCTION AND INFRASTRUCTURE    99
8.6.1    HEAVY MACHINERY HAVE TO UNDERPASS TESTING AND INSPECTION BEFORE THEIR COMMERCIALIZATION, THEREBY DEMANDING TIC SERVICES    99
8.6.2    PROJECT MANAGEMENT SERVICES    100
8.6.3    MATERIAL SERVICES    100
8.6.4    CONSTRUCTION MACHINERY AND EQUIPMENT SERVICES    100
8.6.5    FACILITIES MANAGEMENT AND INSPECTION SERVICES    101
8.6.6    OTHERS    102
TABLE 20    TIC MARKET FOR CONSTRUCTION AND INFRASTRUCTURE APPLICATION,
BY TYPE, 2016–2019 (USD MILLION)    102
TABLE 21    TIC MARKET FOR CONSTRUCTION AND INFRASTRUCTURE APPLICATION,
BY TYPE, 2020–2025 (USD MILLION)    102
8.7    ENERGY & POWER    103
8.7.1    INCREASING DEMAND FOR NUCLEAR, WIND, AND SOLAR SOURCES PROPEL TIC MARKET GROWTH    103
8.7.2    ENERGY SOURCES    103
8.7.2.1    Nuclear    103
8.7.2.2    Wind    103
8.7.2.3    Solar    103
8.7.2.4    Alternative fuels    103
8.7.2.5    Fuel oils and gases    104
8.7.2.6    Coal    104
8.7.3    POWER GENERATION    104
8.7.4    POWER DISTRIBUTION    104
8.7.5    ASSET INTEGRITY MANAGEMENT SERVICES    104
8.7.6    PROJECT LIFECYCLE SERVICES    104
8.7.7    OTHERS    105
FIGURE 29    ENERGY SOURCES TO LEAD TIC MARKET FOR ENERGY & POWER APPLICATION IN 2020    105
TABLE 22    TIC MARKET FOR ENERGY & POWER APPLICATION, BY TYPE,
2016–2019 (USD MILLION)    105
TABLE 23    TIC MARKET FOR ENERGY & POWER APPLICATION, BY TYPE,
2020–2025 (USD MILLION)    106
8.8    INDUSTRIAL AND MANUFACTURING    106
8.8.1    TIC SERVICES PLAY CRITICAL ROLE IN QUALITY, CONFORMITY, AND SAFETY OF INDUSTRIAL PRODUCTS IN SUPPLY CHAIN OF INDUSTRIAL AND MANUFACTURING ECOSYSTEM    106
8.8.2    SUPPLIER-RELATED SERVICES    106
8.8.3    PRODUCTION- AND PRODUCT-RELATED SERVICES    107
8.8.4    PROJECT-RELATED SERVICES    107
8.8.5    OTHERS    107
TABLE 24    TIC MARKET FOR INDUSTRIAL AND MANUFACTURING APPLICATION, BY TYPE, 2016–2019 (USD MILLION)    107
TABLE 25    TIC MARKET FOR INDUSTRIAL AND MANUFACTURING APPLICATION, BY TYPE, 2020–2025 (USD MILLION)    108
8.9    MEDICAL AND LIFE SCIENCES    108
8.9.1    TIC APPROVED ADVANCED MEDICAL DEVICES THAT ARE IN DEMAND WORLDWIDE DRIVE GROWTH OF MEDICAL AND LIFE SCIENCES APPLICATIONS    108
8.9.2    MEDICAL DEVICES    109
8.9.3    HEALTH, BEAUTY, AND WELLNESS    109
8.9.4    CLINICAL SERVICES    109
8.9.5    LABORATORY SERVICES    110
8.9.6    BIOPHARMACEUTICAL AND PHARMACEUTICAL SERVICES    110
8.9.7    OTHERS    111
TABLE 26    TIC MARKET FOR MEDICAL AND LIFE SCIENCES APPLICATION, BY TYPE, 2016–2019 (USD MILLION)    111
TABLE 27    TIC MARKET FOR MEDICAL AND LIFE SCIENCES APPLICATION, BY TYPE, 2020–2025 (USD MILLION)    111
8.10    MINING    112
8.10.1    EXPLORATION SERVICES AND PRODUCTION & PLANT SERVICES CONTRIBUTE SIGNIFICANTLY TO GROWTH OF TIC MARKET FOR MINING APPLICATION    112
8.10.2    INSPECTION AND SAMPLING SERVICES    112
8.10.3    ANALYTICAL SERVICES    112
8.10.4    EXPLORATION SERVICES    112
8.10.5    METALLURGY AND PROCESS DESIGN SERVICES    112
8.10.6    PRODUCTION AND PLANT SERVICES    112
8.10.7    SITE OPERATIONS AND CLOSURE SERVICES    113
8.10.8    PROJECT RISK ASSESSMENT AND MITIGATION SERVICES    113
8.10.9    OTHERS    113
FIGURE 30    EXPLORATION SERVICES TO HOLD LARGEST SIZE OF TIC MARKET FOR MINING APPLICATION IN 2020    113
TABLE 28    TIC MARKET FOR MINING APPLICATION, BY TYPE, 2016–2019 (USD MILLION)    114
TABLE 29    TIC MARKET FOR MINING APPLICATION, BY TYPE, 2020–2025 (USD MILLION)    114

8.11    OIL & GAS AND PETROLEUM    115
8.11.1    NEED FOR HIGH-QUALITY ANALYTICAL TESTING SERVICES AND SPECIALIST KNOWLEDGE IN UPSTREAM SEGMENT OF OIL & GAS AND PETROLEUM APPLICATION ACCELERATE DEMAND FOR TIC SERVICES    115
8.11.2    UPSTREAM    115
8.11.3    DOWNSTREAM    116
8.11.4    BIOFUELS AND FEEDSTOCK    116
8.11.5    PETROCHEMICALS    116
8.11.6    ASSET INTEGRITY MANAGEMENT    117
8.11.7    PROJECT LIFECYCLE    118
8.11.8    OTHERS    118
FIGURE 31    UPSTREAM SERVICES TO LEAD TIC MARKET FOR OIL & GAS AND PETROLEUM APPLICATION IN 2020    118
TABLE 30    TIC MARKET FOR OIL & GAS AND PETROLEUM APPLICATION, BY TYPE,
2016–2019 (USD MILLION)    118
TABLE 31    TIC MARKET FOR OIL & GAS AND PETROLEUM APPLICATION, BY TYPE,
2020–2025 (USD MILLION)    119
8.12    PUBLIC SECTOR    119
8.12.1    PRODUCT CONFORMITY ASSESSMENT (PCA) REQUIRES TIC SERVICES TO ENSURE PRODUCTS MEET COUNTRY-LEVEL REGULATIONS    119
8.12.2    PRODUCT CONFORMITY ASSESSMENT SERVICES    119
8.12.3    MONITORING SERVICES    119
8.12.4    VALUATION SERVICES    120
8.12.5    OTHERS    120
TABLE 32    TIC MARKET FOR PUBLIC SECTOR APPLICATION, BY TYPE,
2016–2019 (USD MILLION)    120
TABLE 33    TIC MARKET FOR PUBLIC SECTOR APPLICATION, BY TYPE,
2020–2025 (USD MILLION)    120
8.13    AUTOMOTIVE    121
8.13.1    VEHICLE INSPECTION SERVICES (VIS) IN AUTOMOTIVE INDUSTRY FOSTER GROWTH OF TIC MARKET    121
8.13.2    ELECTRICAL SYSTEMS AND COMPONENTS    121
8.13.3    ELECTRIC VEHICLES, HYBRID ELECTRIC VEHICLES, AND BATTERY SYSTEMS    121
8.13.4    TELEMATICS    121
8.13.5    FUELS, FLUIDS, AND LUBRICANTS    122
8.13.6    INTERIOR AND EXTERIOR MATERIALS AND COMPONENTS    122
8.13.7    VEHICLE INSPECTION SERVICES (VIS)    122
8.13.8    HOMOLOGATION TESTING    123
8.13.9    OTHERS    123
TABLE 34    TIC MARKET FOR AUTOMOTIVE APPLICATION, BY TYPE,
2016–2019 (USD MILLION)    124
TABLE 35    TIC MARKET FOR AUTOMOTIVE APPLICATION, BY TYPE,
2020–2025 (USD MILLION)    124

8.14    AEROSPACE    125
8.14.1    FLIGHT TESTS, TRACEABILITY-TO-CERTIFICATION MANAGEMENT, AND CERTIFICATION WITHIN AVIATION MANAGEMENT APPLICATION PLAY CRUCIAL ROLE IN GROWTH OF TIC MARKET    125
8.14.2    AEROSPACE MANUFACTURING SERVICES    125
8.14.3    AVIATION MANAGEMENT SERVICES    126
8.14.4    OTHERS    126
TABLE 36    TIC MARKET FOR AEROSPACE APPLICATION, BY TYPE,
2016–2019 (USD MILLION)    127
TABLE 37    TIC MARKET FOR AEROSPACE APPLICATION, BY TYPE,
2020–2025 (USD MILLION)    127
8.15    MARINE    127
8.15.1    TIC SERVICES PLAY VITAL ROLE IN MARINE FUEL SYSTEM AND COMPONENT TESTING IN MARINE APPLICATIONS    127
8.15.2    MARINE FUEL SYSTEM AND COMPONENT SERVICES    127
8.15.3    SHIP CLASSIFICATION SERVICES    128
8.15.4    MARINE MATERIAL AND EQUIPMENT SERVICES    128
8.15.5    OTHERS    128
TABLE 38    TIC MARKET FOR MARINE APPLICATION, BY TYPE,
2016–2019 (USD MILLION)    128
TABLE 39    TIC MARKET FOR MARINE APPLICATION, BY TYPE,
2020–2025 (USD MILLION)    129
8.16    RAILWAYS    129
8.16.1    RAIL CONSTRUCTION AND PRODUCTION MONITORING ACTIVITIES AUGMENT DEMAND FOR TIC SERVICES    129
8.16.2    RAIL CONSTRUCTION AND PRODUCTION MONITORING    129
8.16.3    INFRASTRUCTURE MANAGEMENT    130
8.16.4    OTHERS    130
TABLE 40    TIC MARKET FOR RAILWAYS APPLICATION, BY TYPE,
2016–2019 (USD MILLION)    130
TABLE 41    TIC MARKET FOR RAILWAYS APPLICATION, BY TYPE,
2020–2025 (USD MILLION)    130
8.17    SUPPLY CHAIN AND LOGISTICS    131
8.17.1    TIC SERVICES ARE IMPLEMENTED IN SUPPLY CHAIN AND LOGISTICS APPLICATIONS TO PROTECT PACKAGING FROM DAMAGE OR DEGRADATION    131
8.17.2    PACKAGING & HANDLING    131
8.17.3    RISK MANAGEMENT    131
8.17.4    OTHERS    131
TABLE 42    TIC MARKET FOR SUPPLY CHAIN AND LOGISTICS APPLICATION, BY TYPE, 2016–2019 (USD MILLION)    132
TABLE 43    TIC MARKET FOR SUPPLY CHAIN AND LOGISTICS APPLICATION, BY TYPE, 2020–2025 (USD MILLION)    132
8.18    IT AND TELECOM    132
8.18.1    TESTING OF MODULES TO MEET REGULATORY REQUIREMENTS IN IT AND TELECOM SECTOR DUE TO VARIATIONS IN COUNTRY-LEVEL REGULATIONS WILL BOOST DEMAND FOR TIC SERVICES    132
8.18.2    TELECOM AND IT INFRASTRUCTURE EQUIPMENT    133
8.18.3    MODULES AND DEVICES    133
TABLE 44    TIC MARKET FOR IT & TELECOM APPLICATION, BY TYPE,
2016–2019 (USD MILLION)    133
TABLE 45    TIC MARKET FOR IT & TELECOM APPLICATION, BY TYPE,
2020–2025 (USD MILLION)    133
8.19    SPORTS & ENTERTAINMENT    134
8.19.1    THREATS OF PRODUCT RECALLS, AND INJURIES AND POTENTIAL FATALITIES DRIVE DEMAND FOR TIC SERVICES IN SPORTS & ENTERTAINMENT APPLICATION    134
8.19.2    SPORTS VENUES AND FACILITIES    134
8.19.3    SPORTING GOODS AND PROTECTIVE EQUIPMENT    134
TABLE 46    TIC MARKET FOR SPORTS & ENTERTAINMENT APPLICATION, BY TYPE,
2016–2019 (USD MILLION)    135
TABLE 47    TIC MARKET FOR SPORTS & ENTERTAINMENT APPLICATION, BY TYPE,
2020–2025 (USD MILLION)    135
9    GEOGRAPHIC ANALYSIS    136
9.1    INTRODUCTION    137
FIGURE 32    GEOGRAPHIC SNAPSHOT: VIETNAM TO GROW AT THE FASTEST CAGR DURING THE FORECAST PERIOD    137
FIGURE 33    APAC TO CONTINUE TO ACCOUNT FOR LARGEST SIZE OF TIC MARKET DURING FORECAST PERIOD    138
TABLE 48    TIC MARKET, BY REGION, 2016–2019 (USD MILLION)    138
TABLE 49    TIC MARKET, BY REGION, 2020–2025 (USD MILLION)    138
9.2    NORTH AMERICA    139
FIGURE 34    SNAPSHOT OF TIC MARKET IN NORTH AMERICA    140
TABLE 50    TIC MARKET IN NORTH AMERICA, BY COUNTRY, 2016–2019 (USD MILLION)    140
TABLE 51    TIC MARKET IN NORTH AMERICA, BY COUNTRY, 2020–2025 (USD MILLION)    141
TABLE 52    TIC MARKET IN NORTH AMERICA, BY APPLICATION,
2016–2019 (USD MILLION)    141
TABLE 53    TIC MARKET IN NORTH AMERICA, BY APPLICATION,
2020–2025 (USD MILLION)    142
TABLE 54    TIC MARKET IN NORTH AMERICA, BY SERVICE TYPE,
2016–2019 (USD MILLION)    142
TABLE 55    TIC MARKET IN NORTH AMERICA, BY SERVICE TYPE,
2020–2025 (USD MILLION)    143
TABLE 56    TIC MARKET IN NORTH AMERICA, BY SOURCING TYPE,
2016–2019 (USD MILLION)    143
TABLE 57    TIC MARKET IN NORTH AMERICA, BY SOURCING TYPE,
2020–2025 (USD MILLION)    143
9.2.1    US    144
9.2.1.1    Increased investments in developing next-generation technologies such as artificial intelligence and digital twin    144
TABLE 58    TIC MARKET IN US, BY APPLICATION, 2016–2019 (USD MILLION)    145
TABLE 59    TIC MARKET IN US, BY APPLICATION, 2020–2025 (USD MILLION)    146
TABLE 60    TIC MARKET IN US, BY SERVICE TYPE, 2016–2019 (USD MILLION)    146
TABLE 61    TIC MARKET IN US, BY SERVICE TYPE, 2020–2025 (USD MILLION)    147
TABLE 62    TIC MARKET IN US, BY SOURCING TYPE, 2016–2019 (USD MILLION)    147
TABLE 63    TIC MARKET IN US, BY SOURCING TYPE, 2020–2025 (USD MILLION)    147
9.2.2    CANADA    148
9.2.2.1    Growing demand for TIC services across manufacturing and telecommunications industries    148
TABLE 64    TIC MARKET IN CANADA, BY APPLICATION, 2016–2019 (USD MILLION)    149
TABLE 65    TIC MARKET IN CANADA, BY APPLICATION, 2020–2025 (USD MILLION)    150
TABLE 66    TIC MARKET IN CANADA, BY SERVICE TYPE, 2016–2019 (USD MILLION)    150
TABLE 67    TIC MARKET IN CANADA, BY SERVICE TYPE, 2020–2025 (USD MILLION)    151
TABLE 68    TIC MARKET IN CANADA, BY SOURCING TYPE, 2016–2019 (USD MILLION)    151
TABLE 69    TIC MARKET IN CANADA, BY SOURCING TYPE, 2020–2025 (USD MILLION)    151
9.2.3    MEXICO    152
9.2.3.1    Huge potential for growth in automotive and aerospace TIC services    152
TABLE 70    TIC MARKET IN MEXICO, BY APPLICATION, 2016–2019 (USD MILLION)    153
TABLE 71    TIC MARKET IN MEXICO, BY APPLICATION, 2020–2025 (USD MILLION)    154
TABLE 72    TIC MARKET IN MEXICO, BY SERVICE TYPE, 2016–2019 (USD MILLION)    154
TABLE 73    TIC MARKET IN MEXICO, BY SERVICE TYPE, 2020–2025 (USD MILLION)    155
TABLE 74    TIC MARKET IN MEXICO, BY SOURCING TYPE, 2016–2019 (USD MILLION)    155
TABLE 75    TIC MARKET IN MEXICO, BY SOURCING TYPE, 2020–2025 (USD MILLION)    155
9.3    EUROPE    156
FIGURE 35    SNAPSHOT OF TIC MARKET IN EUROPE    157
TABLE 76    TIC MARKET IN EUROPE, BY COUNTRY, 2016–2019 (USD MILLION)    158
TABLE 77    TIC MARKET IN EUROPE, BY COUNTRY, 2020–2025 (USD MILLION)    159
TABLE 78    TIC MARKET IN EUROPE, BY APPLICATION, 2016–2019 (USD MILLION)    160
TABLE 79    TIC MARKET IN EUROPE, BY APPLICATION, 2020–2025 (USD MILLION)    161
TABLE 80    TIC MARKET IN EUROPE, BY SERVICE TYPE, 2016–2019 (USD MILLION)    161
TABLE 81    TIC MARKET IN EUROPE, BY SERVICE TYPE, 2020–2025 (USD MILLION)    162
TABLE 82    TIC MARKET IN EUROPE, BY SOURCING TYPE, 2016–2019 (USD MILLION)    162
TABLE 83    TIC MARKET IN EUROPE, BY SOURCING TYPE, 2020–2025 (USD MILLION)    162
9.3.1    GERMANY    163
9.3.1.1    Industry 4.0 creates space for TIC ecosystem in automotive and medical applications across country    163
TABLE 84    TIC MARKET IN GERMANY, BY APPLICATION, 2016-2019 (USD MILLION)    164
TABLE 85    TIC MARKET IN GERMANY, BY APPLICATION, 2020–2025 (USD MILLION)    165
TABLE 86    TIC MARKET IN GERMANY, BY SERVICE TYPE, 2016–2019 (USD MILLION)    165
TABLE 87    TIC MARKET IN GERMANY, BY SERVICE TYPE, 2020–2025 (USD MILLION)    166
TABLE 88    TIC MARKET IN GERMANY, BY SOURCING TYPE, 2016–2019 (USD MILLION)    166
TABLE 89    TIC MARKET IN GERMANY, BY SOURCING TYPE, 2020–2025 (USD MILLION)    166

9.3.2    UK    167
9.3.2.1    Adoption of newer technologies and enforcement of strict regulations across agriculture and food application will create new growth opportunities for TIC market in UK    167
TABLE 90    TIC MARKET IN UK, BY APPLICATION, 2016–2019 (USD MILLION)    168
TABLE 91    TIC MARKET IN UK, BY APPLICATION, 2020–2025 (USD MILLION)    169
TABLE 92    TIC MARKET IN UK, BY SERVICE TYPE, 2016–2019 (USD MILLION)    169
TABLE 93    TIC MARKET IN UK, BY SERVICE TYPE, 2020–2025 (USD MILLION)    170
TABLE 94    TIC MARKET IN UK, BY SOURCING TYPE, 2016–2019 (USD MILLION)    170
TABLE 95    TIC MARKET IN UK, BY SOURCING TYPE, 2020–2025 (USD MILLION)    170
9.3.3    FRANCE    171
9.3.3.1    Exports have seen significant growth, thereby fueling demand for
TIC services    171
TABLE 96    TIC MARKET IN FRANCE, BY APPLICATION, 2016–2019 (USD MILLION)    172
TABLE 97    TIC MARKET IN FRANCE, BY APPLICATION, 2020–2025 (USD MILLION)    173
TABLE 98    TIC MARKET IN FRANCE, BY SERVICE TYPE, 2016–2019 (USD MILLION)    173
TABLE 99    TIC MARKET IN FRANCE, BY SERVICE TYPE, 2020–2025 (USD MILLION)    174
TABLE 100    TIC MARKET IN FRANCE, BY SOURCING TYPE, 2016–2019 (USD MILLION)    174
TABLE 101    TIC MARKET IN FRANCE, BY SOURCING TYPE, 2020–2025 (USD MILLION)    174
9.3.4    ITALY    175
9.3.4.1    Government strives to maintain product standards and meet international regulatory measures    175
TABLE 102    TIC MARKET IN ITALY, BY APPLICATION, 2016–2019 (USD MILLION)    176
TABLE 103    TIC MARKET IN ITALY, BY APPLICATION, 2020–2025 (USD MILLION)    177
TABLE 104    TIC MARKET IN ITALY, BY SERVICE TYPE, 2016–2019 (USD MILLION)    177
TABLE 105    TIC MARKET IN ITALY, BY SERVICE TYPE, 2020–2025 (USD MILLION)    178
TABLE 106    TIC MARKET IN ITALY, BY SOURCING TYPE, 2016–2019 (USD MILLION)    178
TABLE 107    TIC MARKET IN ITALY, BY SOURCING TYPE, 2020–2025 (USD MILLION)    178
9.3.5    SPAIN    179
9.3.5.1    Privatization in aerospace industry has seen huge development and is creating opportunities for TIC players    179
TABLE 108    TIC MARKET IN SPAIN, BY APPLICATION, 2016–2019 (USD MILLION)    180
TABLE 109    TIC MARKET IN SPAIN, BY APPLICATION, 2020–2025 (USD MILLION)    181
TABLE 110    TIC MARKET IN SPAIN, BY SERVICE TYPE, 2016–2019 (USD MILLION)    181
TABLE 111    TIC MARKET IN SPAIN, BY SERVICE TYPE, 2020–2025 (USD MILLION)    182
TABLE 112    TIC MARKET IN SPAIN, BY SOURCING TYPE, 2016–2019 (USD MILLION)    182
TABLE 113    TIC MARKET IN SPAIN, BY SOURCING TYPE, 2020–2025 (USD MILLION)    182
9.3.6    BELGIUM    183
9.3.6.1    Petroleum and chocolate industries are driving TIC market growth in Belgium    183
TABLE 114    TIC MARKET IN BELGIUM, BY APPLICATION, 2016–2019 (USD MILLION)    184
TABLE 115    TIC MARKET IN BELGIUM, BY APPLICATION, 2020–2025 (USD MILLION)    185
TABLE 116    TIC MARKET IN BELGIUM, BY SERVICE TYPE, 2016–2019 (USD MILLION)    185
TABLE 117    TIC MARKET IN BELGIUM, BY SERVICE TYPE, 2020–2025 (USD MILLION)    186
TABLE 118    TIC MARKET IN BELGIUM, BY SOURCING TYPE, 2016–2019 (USD MILLION)    186
TABLE 119    TIC MARKET IN BELGIUM, BY SOURCING TYPE, 2020–2025 (USD MILLION)    186
9.3.7    RUSSIA    187
9.3.7.1    TIC players witnessing scope and opportunities in petroleum and exports sectors    187
TABLE 120    TIC MARKET IN RUSSIA, BY APPLICATION, 2016–2019 (USD MILLION)    187
TABLE 121    TIC MARKET IN RUSSIA, BY APPLICATION, 2020–2025 (USD MILLION)    188
TABLE 122    TIC MARKET IN RUSSIA, BY SERVICE TYPE, 2016–2019 (USD MILLION)    188
TABLE 123    TIC MARKET IN RUSSIA, BY SERVICE TYPE, 2020–2025 (USD MILLION)    189
TABLE 124    TIC MARKET IN RUSSIA, BY SOURCING TYPE, 2016–2019 (USD MILLION)    189
TABLE 125    TIC MARKET IN RUSSIA, BY SOURCING TYPE, 2020–2025 (USD MILLION)    189
9.3.8    NETHERLANDS    190
9.3.8.1    Increasing innovations in Netherlands has led to increase in product offerings, thereby fostering demand for tic services    190
TABLE 126    TIC MARKET IN NETHERLANDS, BY APPLICATION, 2016–2019 (USD MILLION)    191
TABLE 127    TIC MARKET IN NETHERLANDS, BY APPLICATION, 2020–2025 (USD MILLION)    192
TABLE 128    TIC MARKET IN NETHERLANDS, BY SERVICE TYPE,
2016–2019 (USD MILLION)    192
TABLE 129    TIC MARKET IN NETHERLANDS, BY SERVICE TYPE,
2020–2025 (USD MILLION)    193
TABLE 130    TIC MARKET IN NETHERLANDS, BY SOURCING TYPE,
2016–2019 (USD MILLION)    193
TABLE 131    TIC MARKET IN NETHERLANDS, BY SOURCING TYPE,
2020–2025 (USD MILLION)    193
9.3.9    SWITZERLAND    194
9.3.9.1    Consumer goods and retail industry is booming, thereby surging demand for TIC services    194
TABLE 132    TIC MARKET IN SWITZERLAND, BY APPLICATION,
2016–2019 (USD THOUSAND)    195
TABLE 133    TIC MARKET IN SWITZERLAND, BY APPLICATION,
2020–2025 (USD THOUSAND)    196
TABLE 134    TIC MARKET IN SWITZERLAND, BY SERVICE TYPE, 2016–2019 (USD MILLION)    196
TABLE 135    TIC MARKET IN SWITZERLAND, BY SERVICE TYPE, 2020–2025 (USD MILLION)    197
TABLE 136    TIC MARKET IN SWITZERLAND, BY SOURCING TYPE,
2016–2019 (USD MILLION)    197
TABLE 137    TIC MARKET IN SWITZERLAND, BY SOURCING TYPE,
2020–2025 (USD MILLION)    197
9.3.10    HUNGARY    198
9.3.10.1    E-commerce industry invites plethora of opportunities for TIC players in Hungary    198
9.3.11    POLAND    198
9.3.11.1    Technologies such as IoT, cloud computing, and cybersecurity are and boosting TIC market in Poland    198
9.3.12    BULGARIA    199
9.3.12.1    Huge potential for manufacturing companies in TIC ecosystem    199

9.3.13    SWEDEN    199
9.3.13.1    Growing focus on electronic manufacturing to improve global ranking    199
9.3.14    MOROCCO    200
9.3.14.1    Agro-industrial and renewable companies to contribute to TIC market growth in Morocco    200
9.3.15    NORWAY    200
9.3.15.1    Exports and petroleum industries contribute in improving global rankings    200
9.3.16    ROMANIA    201
9.3.16.1    Software and service industries have helped generate employment in Romania    201
9.3.17    AUSTRIA    201
9.3.17.1    Logistics and telecommunication sectors to pull demand for TIC services in Austria    201
9.3.18    TURKEY    202
9.3.18.1    Turkey has become new hub for start-ups and innovative companies that encourages TIC service providers to stretch their services in turkey    202
9.3.19    CROATIA    202
9.3.19.1    Developmental strategies in Croatia to boost demand for TIC services    202
9.3.20    IRELAND    203
9.3.20.1    Innovative technologies help Ireland to improve global ranking    203
9.3.21    GREECE    203
9.3.21.1    Strategic location has helped in fishing, mining, and export industries    203
9.3.22    REST OF EUROPE (ROE)    203
9.4    ASIA PACIFIC    204
FIGURE 36    SNAPSHOT OF TIC MARKET IN APAC    205
TABLE 138    TIC MARKET IN APAC, BY COUNTRY, 2016–2019 (USD MILLION)    206
TABLE 139    TIC MARKET IN APAC, BY COUNTRY, 2020–2025 (USD MILLION)    207
TABLE 140    TIC MARKET IN APAC, BY APPLICATION, 2016–2019 (USD MILLION)    208
TABLE 141    TIC MARKET IN APAC, BY APPLICATION, 2020–2025 (USD MILLION)    209
TABLE 142    TIC MARKET IN APAC, BY SERVICE TYPE, 2016–2019 (USD MILLION)    209
TABLE 143    TIC MARKET IN APAC, BY SERVICE TYPE, 2020–2025 (USD MILLION)    210
TABLE 144    TIC MARKET IN APAC, BY SOURCING TYPE, 2016–2019 (USD MILLION)    210
TABLE 145    TIC MARKET IN APAC, BY SOURCING TYPE, 2020–2025 (USD MILLION)    210
9.4.1    CHINA    211
9.4.1.1    Growing development in technology and medical space has encouraged TIC service providers    211
TABLE 146    TIC MARKET IN CHINA, BY APPLICATION, 2016–2019 (USD MILLION)    212
TABLE 147    TIC MARKET IN CHINA, BY APPLICATION, 2020–2025 (USD MILLION)    213
TABLE 148    TIC MARKET IN CHINA, BY SERVICE TYPE, 2016–2019 (USD MILLION)    213
TABLE 149    TIC MARKET IN CHINA, BY SERVICE TYPE, 2020–2025 (USD MILLION)    214
TABLE 150    TIC MARKET IN CHINA, BY SOURCING TYPE, 2016–2019 (USD MILLION)    214
TABLE 151    TIC MARKET IN CHINA, BY SOURCING TYPE, 2020–2025 (USD MILLION)    214
9.4.2    JAPAN    215
9.4.2.1    Stringent telecommunication compliances to ensure safety and security of its harmful effects on human beings    215
TABLE 152    TIC MARKET IN JAPAN, BY APPLICATION, 2016–2019 (USD MILLION)    216
TABLE 153    TIC MARKET IN JAPAN, BY APPLICATION, 2020–2025 (USD MILLION)    217
TABLE 154    TIC MARKET IN JAPAN, BY SERVICE TYPE, 2016–2019 (USD MILLION)    217
TABLE 155    TIC MARKET IN JAPAN, BY SERVICE TYPE, 2020–2025 (USD MILLION)    218
TABLE 156    TIC MARKET IN JAPAN, BY SOURCING TYPE, 2016–2019 (USD MILLION)    218
TABLE 157    TIC MARKET IN JAPAN, BY SOURCING TYPE, 2020–2025 (USD MILLION)    218
9.4.3    INDIA    219
9.4.3.1    Demand for TIC services is increasing with rising investments in infrastructure and construction sectors    219
TABLE 158    TIC MARKET IN INDIA, BY APPLICATION, 2016–2019 (USD MILLION)    220
TABLE 159    TIC MARKET IN INDIA, BY APPLICATION, 2020–2025 (USD MILLION)    221
TABLE 160    TIC MARKET IN INDIA, BY SERVICE TYPE, 2016–2019 (USD MILLION)    221
TABLE 161    TIC MARKET IN INDIA, BY SERVICE TYPE, 2020–2025 (USD MILLION)    222
TABLE 162    TIC MARKET IN INDIA, BY SOURCING TYPE, 2016–2019 (USD MILLION)    222
TABLE 163    TIC MARKET IN INDIA, BY SOURCING TYPE, 2020–2025 (USD MILLION)    222
9.4.4    SOUTH KOREA    223
9.4.4.1    Huge potential in exports and manufacturing industries including electronics and medical devices    223
TABLE 164    TIC MARKET IN SOUTH KOREA, BY APPLICATION, 2016–2019 (USD MILLION)    224
TABLE 165    TIC MARKET IN SOUTH KOREA, BY APPLICATION, 2020–2025 (USD MILLION)    225
TABLE 166    TIC MARKET IN SOUTH KOREA, BY SERVICE TYPE, 2016–2019 (USD MILLION)    225
TABLE 167    TIC MARKET IN SOUTH KOREA, BY SERVICE TYPE, 2020–2025 (USD MILLION)    226
TABLE 168    TIC MARKET IN SOUTH KOREA, BY SOURCING TYPE,
2016–2019 (USD MILLION)    226
TABLE 169    TIC MARKET IN SOUTH KOREA, BY SOURCING TYPE,
2020–2025 (USD MILLION)    226
9.4.5    AUSTRALIA    227
9.4.5.1    Healthcare and mining industries support growth of Australian TIC market    227
TABLE 170    TIC MARKET IN AUSTRALIA, BY APPLICATION, 2016–2019 (USD MILLION)    228
TABLE 171    TIC MARKET IN AUSTRALIA, BY APPLICATION, 2020–2025 (USD MILLION)    229
TABLE 172    TIC MARKET IN AUSTRALIA, BY SERVICE TYPE, 2016–2019 (USD MILLION)    230
TABLE 173    TIC MARKET IN AUSTRALIA, BY SERVICE TYPE, 2020–2025 (USD MILLION)    230
TABLE 174    TIC MARKET IN AUSTRALIA, BY SOURCING TYPE, 2016–2019 (USD MILLION)    230
TABLE 175    TIC MARKET IN AUSTRALIA, BY SOURCING TYPE, 2020–2025 (USD MILLION)    231
9.4.6    SINGAPORE    231
9.4.6.1    Stringent government policies in electric and electronic products create demand for TIC services    231
TABLE 176    TIC MARKET IN SINGAPORE, BY APPLICATION, 2016–2019 (USD MILLION)    232
TABLE 177    TIC MARKET IN SINGAPORE, BY APPLICATION, 2020–2025 (USD MILLION)    233
TABLE 178    TIC MARKET IN SINGAPORE, BY SERVICE TYPE, 2016–2019 (USD MILLION)    233
TABLE 179    TIC MARKET IN SINGAPORE, BY SERVICE TYPE, 2020–2025 (USD MILLION)    234
TABLE 180    TIC MARKET IN SINGAPORE, BY SOURCING TYPE, 2016–2019 (USD MILLION)    234
TABLE 181    TIC MARKET IN SINGAPORE, BY SOURCING TYPE, 2020–2025 (USD MILLION)    234
9.4.7    THAILAND    235
9.4.7.1    Telecommunication and manufacturing industries contribute TIC market growth in Thailand    235
TABLE 182    TIC MARKET IN THAILAND, BY APPLICATION, 2016–2019 (USD MILLION)    236
TABLE 183    TIC MARKET IN THAILAND, BY APPLICATION, 2020–2025 (USD MILLION)    237
TABLE 184    TIC MARKET IN THAILAND, BY SERVICE TYPE, 2016–2019 (USD MILLION)    237
TABLE 185    TIC MARKET IN THAILAND, BY SERVICE TYPE, 2020–2025 (USD MILLION)    238
TABLE 186    TIC MARKET IN THAILAND, BY SOURCING TYPE, 2016–2019 (USD MILLION)    238
TABLE 187    TIC MARKET IN THAILAND, BY SOURCING TYPE, 2020–2025 (USD MILLION)    238
9.4.8    INDONESIA    239
9.4.8.1    Mandatory testing of electronic products in country    239
TABLE 188    TIC MARKET IN INDONESIA, BY APPLICATION, 2016–2019 (USD MILLION)    240
TABLE 189    TIC MARKET IN INDONESIA, BY APPLICATION, 2020–2025 (USD MILLION)    241
TABLE 190    TIC MARKET IN INDONESIA, BY SERVICE TYPE, 2016–2019 (USD MILLION)    241
TABLE 191    TIC MARKET IN INDONESIA, BY SERVICE TYPE, 2020–2025 (USD MILLION)    242
TABLE 192    TIC MARKET IN INDONESIA, BY SOURCING TYPE, 2016–2019 (USD MILLION)    242
TABLE 193    TIC MARKET IN INDONESIA, BY SOURCING TYPE, 2020–2025 (USD MILLION)    242
9.4.9    MALAYSIA    243
9.4.9.1    Electrical & electronics, banking and IT sectors foster Malaysian market growth    243
9.4.10    VIETNAM    243
9.4.10.1    Mandatory testing, inspection, and certification of cosmetic products accelerates TIC market growth    243
9.4.11    TAIWAN    244
9.4.11.1    Huge potential in automotive, cosmetics, and telecommunications industries boosts demand for TIC services    244
9.4.12    HONG KONG    244
9.4.12.1    Stringent and mandatory norms set by government create opportunities for TIC players in Hong Kong    244
9.4.13    BANGLADESH    245
9.4.13.1    Textiles industry and investments made in energy & power industry contribute to TIC market growth    245
9.4.14    PHILIPPINES    246
9.4.14.1    Growing ICT sector accelerates demand for TIC services in Philippines    246
9.4.15    REST OF APAC (ROAPAC)    246
9.5    REST OF THE WORLD    246
FIGURE 37    SNAPSHOT OF TIC MARKET IN ROW    247
TABLE 194    TIC MARKET IN ROW, BY REGION, 2016–2019 (USD MILLION)    248
TABLE 195    TIC MARKET IN ROW, BY COUNTRY, 2020–2025 (USD MILLION)    249
TABLE 196    TIC MARKET IN ROW, BY APPLICATION, 2016–2019 (USD MILLION)    250
TABLE 197    TIC MARKET IN ROW, BY APPLICATION, 2020–2025 (USD MILLION)    251
TABLE 198    TIC MARKET IN ROW, BY SERVICE TYPE, 2016–2019 (USD MILLION)    251
TABLE 199    TIC MARKET IN ROW, BY SERVICE TYPE, 2020–2025 (USD MILLION)    252
TABLE 200    TIC MARKET IN ROW, BY SOURCING TYPE, 2016–2019 (USD MILLION)    252
TABLE 201    TIC MARKET IN ROW, BY SOURCING TYPE, 2020–2025 (USD MILLION)    252
9.5.1    BRAZIL    253
9.5.1.1    Opportunities created by favorable government policies in energy, infrastructure, defense, and healthcare industries    253
TABLE 202    TIC MARKET IN BRAZIL, BY APPLICATION, 2016–2019 (USD MILLION)    254
TABLE 203    TIC MARKET IN BRAZIL, BY APPLICATION, 2020–2025 (USD MILLION)    255
TABLE 204    TIC MARKET IN BRAZIL, BY SERVICE TYPE, 2016–2019 (USD MILLION)    255
TABLE 205    TIC MARKET IN BRAZIL, BY SERVICE TYPE, 2020–2025 (USD MILLION)    256
TABLE 206    TIC MARKET IN BRAZIL, BY SOURCING TYPE, 2016–2019 (USD MILLION)    256
TABLE 207    TIC MARKET IN BRAZIL, BY SOURCING TYPE, 2020–2025 (USD MILLION)    256
9.5.2    ARGENTINA    257
9.5.2.1    Mutual agreements and contracts have increased imports and export of products, ultimately fueling demand for tic services in Argentina    257
TABLE 208    TIC MARKET IN ARGENTINA, BY APPLICATION,
2016–2019 (USD THOUSANDS)    258
TABLE 209    TIC MARKET IN ARGENTINA, BY APPLICATION,
2020–2025 (USD THOUSANDS)    259
TABLE 210    TIC MARKET IN ARGENTINA, BY SERVICE TYPE, 2016–2019 (USD MILLION)    259
TABLE 211    TIC MARKET IN ARGENTINA, BY SERVICE TYPE, 2020–2025 (USD MILLION)    260
TABLE 212    TIC MARKET IN ARGENTINA, BY SOURCING TYPE, 2016–2019 (USD MILLION)    260
TABLE 213    TIC MARKET IN ARGENTINA, BY SOURCING TYPE, 2020–2025 (USD MILLION)    260
9.5.3    SAUDI ARABIA    261
9.5.3.1    Existence of oil reserves creates new revenue pockets for TIC service providers    261
TABLE 214    TIC MARKET IN SAUDI ARABIA, BY APPLICATION, 2016–2019 (USD MILLION)    262
TABLE 215    TIC MARKET IN SAUDI ARABIA, BY APPLICATION, 2020–2025 (USD MILLION)    263
TABLE 216    TIC MARKET IN SAUDI ARABIA, BY SERVICE TYPE,
2016–2019 (USD MILLION)    263
TABLE 217    TIC MARKET IN SAUDI ARABIA, BY SERVICE TYPE,
2020–2025 (USD MILLION)    264
TABLE 218    TIC MARKET IN SAUDI ARABIA, BY SOURCING TYPE,
 2016–2019 (USD MILLION)    264
TABLE 219    TIC MARKET IN SAUDI ARABIA, BY SOURCING TYPE,
2020–2025 (USD MILLION)    264
9.5.4    UNITED ARAB EMIRATES    265
9.5.4.1    Development in manufacturing sector to surge demand for
TIC services in UAE    265
9.5.5    PERU    265
9.5.5.1    Building and constructing sectors to expand TIC market in Peru    265
9.5.6    CZECH REPUBLIC    266
9.5.6.1    Economy of Czech Republic is backed by automotive manufacturing    266
9.5.7    CHILE    266
9.5.7.1    Innovative and latest technologies are shaping market in Chile and motivating the tic companies to broaden their market in Chile    266
9.5.8    COLOMBIA    267
9.5.8.1    Medical and pharmaceutical industries are booming in Columbia    267
9.5.9    VENEZUELA    267
9.5.9.1    Oil & Gas and Petroleum industry to provide growth opportunities to TIC market    267
9.5.10    IRAN    268
9.5.10.1    Stringent and tight regulations for imported products to ensure safety and reliability to create demand for TIC services    268
9.5.11    IRAQ    268
9.5.11.1    Booming consumer goods and retail industry in Iraq to foster TIC market growth    268
9.5.12    QATAR    269
9.5.12.1    Oil & gas industry in Qatar promotes TIC market growth    269
9.5.13    OMAN    269
9.5.13.1    Huge opportunities in telecom and agriculture sectors to boost demand for TIC services    269
9.5.14    BAHRAIN    269
9.5.14.1    Stringent certification and inspection policies in medical and pharmaceuticals industry accelerate demand for tic market in Bahrain    269
9.5.15    EGYPT    270
9.5.15.1    Renewable energy and Logistics sector giving TIC players several growth opportunities    270
9.5.16    SOUTH AFRICA    271
9.5.16.1    Industries affecting TIC market in South Africa are exports, power & energy, and communications    271
9.5.17    REST OF MIDDLE EAST AND AFRICA    271
10    COMPETITIVE LANDSCAPE    272
10.1    OVERVIEW    272
FIGURE 38    TIC MARKET TOP 5 COMPANIES (2019)    272
10.2    RANKING ANALYSIS: TIC MARKET    273
FIGURE 39    RANKING OF TOP 5 PLAYERS IN TIC MARKET (2019)    273
10.3    COMPETITIVE LEADERSHIP MAPPING, 2019    274
10.3.1    VISIONARY LEADERS    274
10.3.2    DYNAMIC DIFFERENTIATORS    274
10.3.3    INNOVATORS    274
10.3.4    EMERGING COMPANIES    274
FIGURE 40    TIC MARKET (GLOBAL) COMPETITIVE LEADERSHIP MAPPING, 2019    275
10.3.5    STRENGTH OF SERVICE PORTFOLIO    276
FIGURE 41    SERVICE PORTFOLIO ANALYSIS OF TOP PLAYERS IN TIC MARKET    276
10.3.6    BUSINESS STRATEGY EXCELLENCE    277
FIGURE 42    BUSINESS STRATEGY EXCELLENCE OF TOP PLAYERS IN TIC MARKET    277
10.4    COMPETITIVE SITUATION AND TRENDS    278
10.4.1    SERVICE EXPANSIONS    278
TABLE 220    SERVICE EXPANSIONS, 2019    278
10.4.2    SERVICE LAUNCHES AND DEVELOPMENTS    278
TABLE 221    SERVICE LAUNCHES AND DEVELOPMENTS, 2019    278
10.4.3    ACQUISITIONS    279
TABLE 222    ACQUISITIONS, 2019    279
10.4.4    PARTNERSHIPS AND AGREEMENTS    279
TABLE 223    PARTNERSHIPS AND AGREEMENTS, 2019 & 2020    279
11    COMPANY PROFILES    280
(Business Overview, Services Offered, Recent Developments, OVID-19-related developments, SWOT Analysis, and MnM View)*
11.1    INTRODUCTION    280
11.2    KEY PLAYERS    281
11.2.1    SGS GROUP    281
FIGURE 43    SGS GROUP: COMPANY SNAPSHOT    281
11.2.2    BUREAU VERITAS    288
FIGURE 44    BUREAU VERITAS: COMPANY SNAPSHOT    288
11.2.3    INTERTEK    295
FIGURE 45    INTERTEK: COMPANY SNAPSHOT    295
11.2.4    DEKRA SE    299
FIGURE 46    DEKRA SE: COMPANY SNAPSHOT    299
11.2.5    EUROFINS SCIENTIFIC    303
FIGURE 47    EUROFINS SCIENTIFIC: COMPANY SNAPSHOT    303
11.2.6    TÜV SÜD    308
FIGURE 48    TÜV SÜD: COMPANY SNAPSHOT    308
11.2.7    DNV GL    314
FIGURE 49    DNV GL: COMPANY SNAPSHOT    314
11.2.8    TÜV RHEINLAND    318
FIGURE 50    TÜV RHEINLAND: COMPANY SNAPSHOT    319
11.2.9    APPLUS+    322
FIGURE 51    APPLUS+: COMPANY SNAPSHOT    322
11.2.10    ALS LIMITED    326
FIGURE 52    ALS LIMITED: COMPANY SNAPSHOT    326
11.2.11    TÜV NORD GROUP    330
FIGURE 53    TÜV NORD GROUP: COMPANY SNAPSHOT    330
11.2.12    LLOYD’S REGISTER GROUP LIMITED    334
FIGURE 54    LLOYD’S REGISTER GROUP LIMITED: COMPANY SNAPSHOT    334
11.2.13    MISTRAS    337
FIGURE 55    MISTRAS: COMPANY SNAPSHOT    337
11.2.14    ELEMENT MATERIALS TECHNOLOGY    340
11.2.15    UL LLC    344
11.3    OTHER IMPORTANT PLAYERS AND ASSOCIATIONS    346
11.3.1    IRCLASS    346
11.3.2    QS TESTING    346
11.3.3    THOMAS BELL-WRIGHT INTERNATIONAL CONSULTANTS    347
11.3.4    TIC SERA    347
11.3.5    HOHENSTEIN    348
11.3.6    APAVE INTERNATIONAL    348
11.3.7    SAI GLOBAL    349
11.3.8    ASTM INTERNATIONAL    349
11.3.9    VDE TESTING INSTITUTE    350
11.3.10    KEYSTONE COMPLIANCE    350
11.3.11    WASHINGTON LABORATORIES LTD.    351
11.3.12    FORCE TECHNOLOGY    351
11.3.13    KIWA INSPECTA    352
11.3.14    RINA S.P.A.    352
11.3.15    TECHNICKÁ INŠPEKCIA    353
11.3.16    TÜRK LOYDU    353
11.3.17    SAFETY ASSESSMENT FEDERATION (SAFED)    354
11.3.18    HV TECHNOLOGIES INC.    355
11.4    KEY INNOVATORS    356
11.4.1    AVOMEEN ANALYTICAL SERVICES    356
11.4.2    ENVIGO    356
11.4.3    GATEWAY ANALYTICAL    356
11.4.4    MEDISTRI SA    356
*Details on Business Overview, Services Offered, Recent Developments, OVID-19-related developments, SWOT Analysis, and MnM View might not be captured in case of unlisted companies.
12    ADJACENT AND RELATED MARKETS    357
12.1    INTRODUCTION    357
12.2    LIMITATIONS    357
12.3    TIC ECOSYSTEM AND INTERCONNECTED MARKETS    357
FIGURE 56    AUTOMOTIVE TIC MARKET, BY APPLICATION, 2019–2024    358
12.4    AUTOMOTIVE TIC MARKET, BY APPLICATION    358
12.4.1    ELECTRICAL SYSTEMS AND COMPONENTS    358
TABLE 224    AUTOMOTIVE TIC MARKET FOR ELECTRICAL SYSTEMS AND COMPONENTS,
BY REGION, 2016–2024 (USD MILLION)    359
12.4.2    ELECTRICAL VEHICLES, HYBRID ELECTRIC VEHICLES, AND BATTERY SYSTEMS    359
TABLE 225    AUTOMOTIVE TIC MARKET FOR ELECTRIC VEHICLES, HYBRID ELECTRIC VEHICLES, AND BATTERY SYSTEMS, BY REGION, 2016–2024 (USD MILLION)    359
12.4.3    TELEMATICS    360
TABLE 226    AUTOMOTIVE TIC MARKET FOR TELEMATICS, BY REGION,
2016–2024 (USD MILLION)    360
12.4.4    FUELS, FLUIDS, AND LUBRICANTS    360
TABLE 227    AUTOMOTIVE TIC MARKET FOR FUELS, FLUIDS, AND LUBRICANTS,
BY REGION, 2016–2024 (USD MILLION)    361
12.4.5    INTERIOR AND EXTERIOR MATERIALS AND COMPONENTS    361
TABLE 228    AUTOMOTIVE TIC MARKET FOR INTERIOR & EXTERIOR MATERIALS AND COMPONENTS, BY REGION, 2016–2024 (USD MILLION)    362
12.4.6    VEHICLE INSPECTION SERVICES (VIS)    362
TABLE 229    AUTOMOTIVE TIC MARKET FOR VEHICLE INSPECTION SERVICES, BY REGION, 2016–2024 (USD MILLION)    362
12.4.7    HOMOLOGATION TESTING    363
TABLE 230    AUTOMOTIVE TIC MARKET FOR HOMOLOGATION TESTING, BY REGION,
2016–2024 (USD MILLION)    363
12.4.8    OTHERS    363
TABLE 231    AUTOMOTIVE TIC MARKET FOR OTHER APPLICATIONS, BY REGION,
2016–2024 (USD MILLION)    364
12.5    AUTOMOTIVE TIC MARKET, BY REGION    364
12.5.1    NORTH AMERICA    364
TABLE 232    AUTOMOTIVE TIC MARKET IN NORTH AMERICA, BY COUNTRY,
2016–2024 (USD MILLION)    364
12.5.2    EUROPE    365
TABLE 233    AUTOMOTIVE TIC MARKET IN EUROPE, BY COUNTRY,
2016–2024 (USD MILLION)    365
12.5.3    APAC    365
TABLE 234    AUTOMOTIVE TIC MARKET IN APAC, BY COUNTRY,
2016–2024 (USD MILLION)    365
12.5.4    ROW    366
TABLE 235    AUTOMOTIVE TIC MARKET IN ROW, BY REGION, 2016–2024 (USD MILLION)    366
13    APPENDIX    367
13.1    INSIGHTS OF INDUSTRY EXPERTS    367
13.2    DISCUSSION GUIDE    368
13.3    KNOWLEDGE STORE   371
13.4    AVAILABLE CUSTOMIZATIONS    373
13.5    RELATED REPORTS    373
13.6    AUTHOR DETAILS    374