#Inspection & Certification Market Forecast

[padmavarma]

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South East Asia Testing, Inspection & Certification Market - Forecast(2024 - 2030)

The South East Asia TIC Market size is estimated to reach US$4.7 billion by 2030, growing at CAGR 4.82% during the forecast period 2024-2030. The growth of South East Asia TIC Market is majorly driven by increasing need for food testing and rising safety regulations and standards for the enhancement of medical device safety measure.

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South East Asia TIC Report Coverage

The “South East Asia TIC Market Report – Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the South East Asia TIC Market.

By Type: Outsourcing, In-house

By Types of Services: Testing Services, Inspection Services, Certification Services

By End Users: Agriculture, Automotive, Food, Consumers (textile, cosmetic, toys, apparel, furniture, stationary, hand tools), Medical & Life Science, Marine, Manufacturing, Building & Infrastructure, Industrial Equipment, Retail, Rail, E-Commerce, Meteorology, Others. 

By Geography: Indonesia, Malaysia, Sinagpore, Philliphines, Thailand, Vietnam, Others (Myanmar, Laos, Cambodia, Brunei, Timor-Leste)

[market-insider]

Testing, Inspection, And Certification Market Growth Accredited To Rise In Manufacturing Activities

The global testing, inspection, and certification market size is anticipated to reach USD 499.0 billion by 2030, growing at a CAGR of 4.0% from 2023 to 2030, according to a new report by Grand View Research, Inc. The incremental deployment rates of testing, inspection, and certification (TIC) systems and solutions can be accredited to the rise in manufacturing activities worldwide. Furthermore, the onset of Industry 5.0 and the rise in connected systems further augments the need to deploy TIC-based technologies in tandem with manufacturing activities.

The need to optimize manufacturing processes and end products has resulted in the manufacturing application segment capturing the highest growth rate of 6.4% over the forecast period. For instance, in January 2022, SGS, a Swiss international business that provides inspection, verification, testing, and certification services, has launched a new Vehicle Over the Air (OTA) performance testing laboratory in Suzhou, China. The lab will assist automotive manufacturers in helping them test, validate, and comply with evolving wireless standards and regulations. It fully integrates beneficial resources in automobile, communication, electronics, and reliability testing to provide commercial customers with technical verification, quality improvement product certification, and technology development services.

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The integration of cloud technology with the TIC market is one of the significant market drivers. The need to access data instantly, automate certification, and issue reports on a real-time basis highlights the importance of storing essential TIC-related data in the cloud. Moreover, cybersecurity concerns such as increasing instances of cyberattack and data privacy threats further highlight the importance of a safe cloud architecture to safeguard data from people with malicious intent.

This is expected to help in general data regulation, security certifications, and software testing. For instance, in February 2022, Intertek Group plc, one of the prominent providers in connectivity testing and cybersecurity, established its Acucert, the first ISO/IEC certified cybersecurity testing lab in Mumbai, India. Acucert has significant expertise in IT system and software testing while meeting stringent quality control standards. Further opening a new testing lab would help them promote internationally and nationally.

The gradual acceptance of big data analytics with the TIC-based technology model is also expected to offer an impetus to the TIC market. The adoption of big data analytics technology by service providers is expected to diversify their service offerings, such as data-based services and predictive maintenance data and enable service providers to offer better solutions to their customers.

[educationalcourses]

Understanding Hazard and Safety Management: Ensuring Workplace Safety

With today’s fast-paced working environment, an Online Safety Course with Certification has never been so important. Organizations across the world are realizing that investing in hazard and safety management is of utmost priority to protect an organization’s most crucial asset which is its people. According to the Workplace Safety Market, its global size was valued at $16.11 billion in 2022 and is projected to reach $40.47 billion by 2031, with an outstanding CAGR of 12.2% within the forecast period. Thus, it draws a picture of the high demand that has increased with the rising necessity for safety training and management solutions across industries. As workplace safety continues to take different dimensions in the modern world, online safety courses have come to provide flexibility that is responsive to the needs of each organisation and individual person. This will also build your understanding of the safety protocols while enhancing employability and professional credibility by adding certification to your name.

What Are the Essential Safety Topics To Learn?

When considering safety courses, it’s crucial to choose topics that not only fulfill regulatory requirements but also enhance your knowledge and skills. Here are some of the best safety topics to cover:

Workplace Safety Regulations and Standards

Familiarity with International Safety Standards: ISO 45001 is an international standard that deals with occupational health and safety management systems. Familiarity with this standard lends a hand in realizing proactive safety cultures, reducing workplace injuries, and taking up legal and regulatory compliances within organizations. It emphasizes continuous improvement and provides a framework for managing safety risks effectively.

Importance of Compliance and Legal Consequences: The importance of compliance saves not only the employees from injuries and death but also saves the organizations from legal consequences and financial penalties. The possible consequences of non-compliance such as fines, work stoppage, or even legal action can influence an organization to place emphasis on safety and following all the regulations.

Identification of Hazard and Risk Assessment

Techniques for Identifying Physical, Chemical, and Biological Hazards: Identification is the very first step in making the workplace safer. Physical hazards could include machinery and equipment, chemical hazards involve toxic substance exposure and biological hazards can be presented by bacteria or viruses. Such hazards are recognized through workplace inspection, auditing, and feedback from employees.

Performing Thorough Risk Assessments: Carrying out risk assessment includes developing the seriousness and likelihood of the identified hazards. It, therefore, helps in prioritizing the safety measures to effectively allocate resources to control risks. By knowing what hazards present higher risks, an organization will initiate controls that will make a big difference in improving safety.

Fire Safety and Prevention

Assessment of Fire Risks and Identification of Potential Fire Hazards: Carrying out an assessment of fire hazards involves identifying possible sources of igniting, potentially highly flammable materials, and other connected workplace hazards. These are vital in ensuring that fire outbreaks do not take place.

Fire Extinguisher and Evacuation Route Use Training: Employees need to be properly trained in the use of fire extinguishers and evacuation routes. It is important that the use of fire extinguishers be part of hands-on training so that workers will feel confident to take action if there is an emergency.

Formulation of Fire Safety Policies, and Holding Regular Fire Drills: The development of comprehensive fire policies states what causes the expectations of fire practices in the workplace. Regular fire drills strengthen such policies, thereby enhancing employee’s preparedness in case of any actual fire situation.

Ergonomics and Manual Handling

Knowing the Impact of Ergonomics on Employee Health: It fits the physical needs of employees at their workplaces. Poor practices concerning ergonomics may result in musculoskeletal disorders. It thus affects employee health and productivity. Organizations that invest in workplace ergonomic assessments can enhance employee comfort and efficiency.

Create More Efficient Work Environments: Workstations, tools, and furniture design could avoid or reduce discomfort for workers. Hence, increases productivity while reducing the chances of injury. Workplace ergonomic assessments could determine what changes need to be made to improve workplace layout.

Explore UniAthena’s Online Safety Course with Certification

This Free Course will provide you with the knowledge to help you create a safe and dependable workplace for everyone. Its self-paced and free learning format allows you to gain insights into different workplace hazards while providing you with fundamental knowledge regarding the legislation, regulations, and professionals who work hard to prevent, avoid, and investigate workplace accidents.

Plus, this Free Online Course upon completion will entitle you to Cambridge International Qualifications (CIQ, UK) certification, thereby demonstrating your commitment to inculcating a safety culture. Seize this opportunity to strengthen your knowledge of managing hazards. Enroll now and start making a difference at workplaces.

[mordormr]

Ensuring Healthcare Efficiency: The Growing Importance of the Medical Equipment Maintenance Market

The Global Medical Equipment Maintenance Market is projected to be valued at USD 53.67 billion in 2024 and is anticipated to grow to USD 88.27 billion by 2029, with a CAGR of 10.47% during the forecast period (2024-2029

As healthcare systems around the world continue to modernize, the medical equipment maintenance industry is becoming increasingly crucial. The reliance on advanced medical devices for diagnostics, treatment, and patient care has underscored the need for effective maintenance services to ensure the uninterrupted operation of healthcare facilities. From regular inspections to complex repairs, medical equipment maintenance plays a vital role in extending the lifespan of medical devices, ensuring patient safety, and optimizing operational efficiency.

Key Drivers of Growth in the Medical Equipment Maintenance Market

Technological Advancements in Medical Devices The medical equipment market is flooded with high-tech devices, such as MRI machines, CT scanners, and robotic surgical systems, which require routine maintenance to function correctly. As technology advances, the complexity of these machines increases, driving demand for specialized maintenance services to ensure devices are up-to-date and fully operational. Preventative maintenance is essential to avoid costly downtime or equipment failure during critical procedures.

Increased Focus on Patient Safety Regulatory bodies and healthcare institutions are increasingly focusing on patient safety, mandating regular maintenance checks and certifications for medical equipment. Failure to comply with these standards could lead to equipment malfunction, which may compromise patient outcomes. The emphasis on safety ensures that medical equipment undergoes frequent checks, driving the demand for maintenance services.

Rising Healthcare Expenditures and Aging Population With global healthcare spending on the rise and an aging population that requires frequent medical care, there is an increasing need for reliable medical equipment. Regular maintenance services help prevent sudden equipment breakdowns and extend the service life of machines, making healthcare more affordable in the long run. The demand for maintenance services is particularly strong in developed regions with advanced healthcare infrastructures, but it is also growing in developing markets as healthcare systems expand.

Cost-Effectiveness and Operational Efficiency Preventive maintenance is a cost-effective solution that helps healthcare facilities avoid expensive emergency repairs or the premature replacement of high-value equipment. By maintaining equipment properly, healthcare providers can ensure operational efficiency, reduce downtime, and optimize the performance of their devices. This growing awareness of cost-saving strategies is fueling the medical equipment maintenance market.

Expanding Use of Multi-Vendor Maintenance Services Healthcare providers are increasingly turning to multi-vendor maintenance services, which allow them to streamline the maintenance of various types of medical equipment through a single provider. This approach is especially beneficial for hospitals and large healthcare networks that use devices from multiple manufacturers. These service providers offer specialized maintenance solutions that cover a wide range of equipment, saving time and reducing the complexity of managing multiple maintenance contracts.

Challenges in the Medical Equipment Maintenance Market

Despite its rapid growth, the industry does face certain challenges. One key hurdle is the high cost of specialized maintenance services, especially for high-tech medical equipment. Smaller healthcare facilities or those in developing regions may struggle with these costs, limiting their access to regular maintenance services. Another challenge is the lack of skilled technicians who are trained to maintain and repair complex devices, which can lead to delays and inefficient service delivery.

Additionally, technological advancements in medical devices may outpace the training of maintenance personnel, creating a skills gap. Service providers need to continuously invest in training and education to keep pace with the latest equipment technologies and regulations.

Opportunities in the Medical Equipment Maintenance Market

Outsourcing of Maintenance Services Many healthcare facilities are choosing to outsource their equipment maintenance to third-party service providers, which allows them to focus on patient care rather than managing maintenance operations. Outsourcing offers flexibility and cost savings, especially for smaller facilities or those without in-house maintenance departments.

Remote Monitoring and Predictive Maintenance The rise of Internet of Things (IoT) and connected devices is revolutionizing the way medical equipment is maintained. Remote monitoring systems can track equipment performance in real-time, allowing for early detection of potential issues. Predictive maintenance, powered by data analytics, enables healthcare providers to perform maintenance only when necessary, further reducing costs and downtime.

Growing Demand in Emerging Markets As healthcare infrastructures develop in emerging markets, the demand for reliable medical equipment maintenance services is growing. Countries in regions such as Asia-Pacific, Latin America, and Africa are increasingly investing in healthcare facilities and modern medical devices, creating new opportunities for maintenance service providers to expand their presence.

Future Trends in the Medical Equipment Maintenance Market

Integration of AI and Automation Artificial Intelligence (AI) is beginning to make its way into medical equipment maintenance, particularly in automating diagnostics and repair processes. AI-powered systems can analyze equipment performance data, predict potential issues, and even suggest or initiate corrective measures. This trend will likely increase the efficiency and accuracy of maintenance services, reducing human error.

Customized Service Packages Medical equipment maintenance providers are offering tailored service contracts that cater to the specific needs of healthcare institutions. These customizable packages help facilities manage costs while ensuring that critical equipment receives the necessary attention, based on its usage and importance in clinical operations.

Sustainability and Green Technologies The growing focus on environmental sustainability is pushing maintenance providers to adopt eco-friendly practices. This includes recycling or refurbishing old medical equipment, reducing energy consumption during maintenance operations, and using environmentally friendly materials in repairs.

Conclusion

The medical equipment maintenance industry is poised for significant growth, driven by the increasing adoption of advanced medical technologies, a heightened focus on patient safety, and the need for cost-efficient healthcare operations. As healthcare providers continue to embrace digital and predictive maintenance solutions, the market will evolve, offering more sophisticated and reliable services.

By ensuring that medical devices remain in optimal working condition, the medical equipment maintenance market plays a vital role in supporting the smooth operation of healthcare facilities, enhancing patient care, and maximizing the return on investment in advanced medical technologies. As the industry continues to innovate and expand, it will remain a key pillar of the global healthcare system.

[shubhampawrainfinium]

The Science of Safety: How Food Testing Ensures Quality and Health

The global food safety testing market is on a significant growth trajectory, fueled by increasing consumer awareness and regulatory requirements. According to the report, the market is projected to grow at a compound annual growth rate (CAGR) of 8.06% over the forecast period of 2022-2028. With a revenue of approximately USD 19 billion in 2022, the market is expected to reach approximately USD 30 billion by 2028.

Why Food Safety Testing Matters

Food safety testing is crucial for ensuring that food products are safe for consumption and meet regulatory standards. This process involves the detection and analysis of contaminants, pathogens, allergens, and other harmful substances in food products. Effective food safety testing helps prevent foodborne illnesses, protect consumer health, and ensure compliance with food safety regulations.

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Market Dynamics and Growth Drivers

Several factors are driving the growth of the global food safety testing market:

Rising Foodborne Illnesses: The increasing incidence of foodborne illnesses and outbreaks is driving the demand for comprehensive food safety testing. Consumers and regulatory bodies are placing greater emphasis on ensuring the safety and quality of food products.

Stringent Regulatory Standards: Governments and regulatory agencies worldwide are implementing stricter food safety regulations and standards. These regulations require food manufacturers and processors to conduct regular testing to ensure compliance and protect public health.

Growing Consumer Awareness: Consumers are becoming more aware of food safety issues and are demanding higher standards of food quality and safety. This heightened awareness is driving the adoption of advanced testing methods to ensure the safety of food products.

Technological Advancements: Innovations in testing technologies, such as rapid testing methods, molecular diagnostics, and advanced analytical techniques, are enhancing the accuracy and efficiency of food safety testing. These advancements are expanding the capabilities of testing labs and improving the reliability of results.

Regional Analysis

North America: The North American market is characterized by stringent food safety regulations and high consumer awareness. The U.S. and Canada have established comprehensive food safety testing frameworks, driving market growth.

Europe: Europe is a major market for food safety testing, with a strong focus on regulatory compliance and consumer protection. Countries such as Germany, France, and the U.K. have implemented rigorous food safety standards, contributing to market expansion.

Asia-Pacific: The Asia-Pacific region is experiencing rapid growth in the food safety testing market due to increasing food production, rising consumer awareness, and expanding regulatory frameworks. Emerging economies like China and India are key contributors to market growth.

Latin America and Middle East & Africa: These regions are witnessing gradual growth in the food safety testing market, driven by increasing regulatory initiatives and growing consumer demand for safe food products. Market growth is supported by the implementation of food safety standards and regulations.

Report Overview : https://www.infiniumglobalresearch.com/reports/global-food-safety-testing-market

Competitive Landscape

The food safety testing market is competitive, with several key players and emerging companies offering a range of testing solutions. Notable players in the market include:

SGS SA: A global leader in inspection, verification, testing, and certification services, offering comprehensive food safety testing solutions.

Eurofins Scientific: Provides a wide range of food testing services, including microbiological, chemical, and allergen testing.

Intertek Group plc: Offers food safety and quality testing services, including laboratory testing and certification.

Bureau Veritas: Specializes in food safety testing and certification, focusing on regulatory compliance and consumer protection.

ALS Limited: Provides food safety testing services, including environmental and microbiological testing for food products.

Challenges and Opportunities

The food safety testing market faces challenges such as high testing costs, the need for continuous innovation, and the complexity of regulatory compliance. Additionally, ensuring the accuracy and reliability of testing methods can be challenging.

However, there are significant opportunities for growth. The increasing demand for advanced testing technologies, the expansion of regulatory frameworks, and the rising focus on consumer health present avenues for market expansion. Companies that invest in innovation, technological advancements, and strategic partnerships are well-positioned to capitalize on the growing demand for food safety testing.

Conclusion

The global food safety testing market is set for substantial growth, driven by rising foodborne illnesses, stringent regulatory standards, and growing consumer awareness. With revenue expected to reach approximately USD 30 billion by 2028, the market presents significant opportunities for investment and innovation. As the focus on food safety continues to intensify, food safety testing will play a critical role in ensuring the safety and quality of food products.

[foodandbeverages]

Food Authenticity Testing Services Market Earnings Margins, Value Of Production & Consumption Demand Figures 2023 to 2033

In 2023, the US$ 5893 million for the food authenticity testing service market (Markt für Dienstleistungen zur Prüfung der Lebensmittelauthentizität) is estimated to reach a revised size of US$ 10112.8 million by 2033. This market is expected to expand at a CAGR of 6% during the analysis period.

Consumers have become increasingly skeptical about the authenticity of food products designed to meet specific needs, such as vegan, free-form, and organic. This is due to intentional ingredient substitution, misleading consumers with false claims, and disruptive labeling.

To differentiate their products from conventional offerings, food manufacturers have adopted food authentication techniques to capture significant market share. Consumers are increasingly concerned about food safety and clean labels, so adoption may be on the rise.

The increasing incidence of fraud, false labeling, certification, and adulteration in food products is one factor driving the market growth. Additionally, consumers are becoming more knowledgeable about food quality, increasing market growth.

Detailed Market Study: https://www.futuremarketinsights.com/reports/food-authenticity-market

“The epidemic of economically motivated infestation (EMA) to overcome competition has forced governments to impose strict regulations on food inspection and authenticity regulations, pushing markets toward a multi-billion-dollar valuation.” – says a lead analyst at Future Market Insights.

Key Takeaways from Market Study

The food authenticity testing service market is expected to grow at a CAGR of 6% over the forecast period.

It is estimated that the food authenticity testing service market in North America will remain strong during the forecast period.

Due to its large population, Asia Pacific is expected to be the fastest-growing region for food authenticity testing services

Testing meat speciation authenticity is bolstered by a high incidence of meat consumption

The food authenticity testing services market in China is expected to witness significant growth at a CAGR of around 4.4%.

Competitive Landscape:

The global food authenticity testing service market is dominated by a small number of players aiming to concentrate their presence in emerging markets. They launch products, introduce innovations, acquire strategic companies, and establish laboratories and research facilities in areas that are not developed. By offering innovative products, market players can maintain supply and demand, thus assisting the growth of the overall market.

Several prominent companies dominate this market, including ALS Ltd, EMSL Analytical, Inc., Genetic ID NA Inc., Eurofins Scientific SE, Merieux NutriSciences Corporation, Intertek Group PLC, Microbac Laboratories Inc., SGS SA, Romer Labs, others.

Recent Developments:

In collaboration with Eurofins GeneScan Technologies GmbH in October 2019, UgenTec’s real-time PCR analysis software platform, FastFinder, may be used to develop assay plugins for Eurofins GeneScan Technologies’ portfolio of molecular biology kits. Furthermore, the partnership can help Eurofins scale up its assays with automated results reports and fast sample-to-result times for food, feed, and seed testing.

With the acquisition of Vanguard Sciences Inc. in January 2018, SGS expanded its global network of agriculture and food laboratories by integrating the company’s two food laboratories. Agricultural and food testing is provided by two laboratories, including product testing and research (including testing of processes and products).

SGS announces the opening of its new food testing laboratory in Papua New Guinea. In addition to food safety, quality, and sustainability, SGS offers a comprehensive range of services.

Food Authenticity Testing Services Market Segmentation by Category

By Food Tested:

Meat & Meat Products

Dairy & Dairy Products

Processed Foods

Other Food Tested

By Target Testing:

Meat Speciation

Country of Origin & Ageing

Adulteration

False Labelling

By Technology:

PCR-Based

Liquid Chromatography-Mass Spectrometry (LC-MS)

Isotope

Immunoassay Based/ELISA

Other Technologies

By Region:

North America

Latin America

Europe

The Middle East and Africa

East Asia

[robertemma27-blog]

Hydrogen Technology Testing, Inspection and Certification (TIC) Market worth $9.2 billion by 2029The global Hydrogen Technology Testing, Inspection and Certification (TIC) Market is valued at USD 4.1 billion in 2024 and is projected to reach USD 9.2 billion by 2029; it is expected to register a CAGR of 17.8% during the forecast period according to a new report by MarketsandMarkets™. Several factors are driving the steady growth of the hydrogen technology TIC market. These include the rising demand for clean fuels, supportive government policies promoting decarbonization, expanding hydrogen infrastructure, growing risk management concerns, stricter regulations, and advancements in green hydrogen technologies.

[trendingreportz]

South East Asia Testing, Inspection & Certification Market - Forecast (2024-2030)

South East Asia Testing, Inspection & Certification (TIC) Market Overview

The South East Asia TIC Market size is estimated to reach US$4.7 billion by 2030, growing at CAGR 4.82% during the forecast period 2024-2030. The growth of South East Asia TIC Market is majorly driven by increasing need for food testing and rising safety regulations and standards for the enhancement of medical device safety measure. Moreover, the rapid growth of consumer electronics industry coupled with the increasing demand for electronics will also trigger the growth of the testing, inspection & certification market in South East Asia. The manufacturer of electronic products needs to comply with various governmental standards to ensure quality testing and certification through RoHS testing, Electromagnetic compatibility (EMC) testing, GS mark certification, CPSR and so on, which in turn drives the market growth of TIC (Testing, Inspection & Certification) services. Furthermore, the demand for TIC services which includes failure & damage analysis, various component testing, e-mobility & battery testing and others in automotive industry is also a major factor that can transform the South East Asia TIC industry outlook in the long run. 

The South East Asia Testing, Inspection, and Certification (TIC) market is undergoing significant transformation driven by multiple converging trends. The region's rapid industrialization and economic growth are increasing the demand for robust TIC services to ensure compliance with international standards and regulations. Advancements in digital technologies, such as blockchain, IoT, and AI, are revolutionizing TIC processes, enhancing the accuracy and efficiency of inspections and certifications. The growing emphasis on quality and safety in sectors like food and beverages, pharmaceuticals, and consumer goods is fueling the need for stringent testing and certification protocols. Additionally, the expansion of the manufacturing sector, particularly in automotive and electronics, is driving the demand for specialized TIC services to maintain quality control and meet export requirements. The rise of e-commerce is also contributing to the market growth, as online retailers seek to ensure product safety and authenticity. Environmental sustainability and regulatory compliance are becoming increasingly important, prompting companies to adopt comprehensive TIC services to meet green standards and reduce environmental impact. These trends collectively are enhancing the significance of TIC services in ensuring product quality, safety, and compliance across various industries in South East Asia.

South East Asia TIC Report Coverage

The “South East Asia TIC Market Report – Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the South East Asia TIC Market.

By Type: Outsourcing, In-house

By Types of Services: Testing Services, Inspection Services, Certification Services

By End Users: Agriculture, Automotive, Food, Consumers (textile, cosmetic, toys, apparel, furniture, stationary, hand tools), Medical & Life Science, Marine, Manufacturing, Building & Infrastructure, Industrial Equipment, Retail, Rail, E-Commerce, Meteorology, Others. 

By Geography: Indonesia, Malaysia, Sinagpore, Philliphines, Thailand, Vietnam, Others (Myanmar, Laos, Cambodia, Brunei, Timor-Leste)

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Key Takeaways

Testing Services held the major market share in 2023 owing to rising implementations of integrated testing solutions for wide range of end users including automation and control systems, battery storage, F&B processing, communication protocol and so on. 

E-Commerce segment is analysed to grow at the fastest rate during the forecast period 2024-2030 owing to increasing internet and mobile phone usage, high penetration of IoT as well as improved e-payment methods& logistics. 

Indonesia held the highest market share in 2023 Vietnam is analysed to grow at the fastest rate during the forecast period 2024-2030 owing to rapid growth of manufacturing sector and rising investments on railway infrastructure.

The increasing demand towards food testing and rising safety regulations and standards imposed by global as well as regional government bodies for the enhancement of medical device safety measure are analysed to significantly drive the market growth of South East Asia TIC market during the forecast period 2023-2030.

South East Asia TIC Market Segment Analysis- by Type of Services

Testing Services held the major market share in 2023 with a market size of $1.7 Billion and is estimated to reach $2.3 Billion by 2030 with a CAGR of around 4.51% during the forecast period 2024-2030. The growth is mainly attributed to rising implementations of integrated testing solutions for wide range of end users including automation and control systems, battery storage, F&B processing, communication protocol, maritime equipment material, oil & gas structure and components and others to increase productivity and customer satisfaction. In September 2022, Intertek announced the launch of their new Vegan Foods Certification. The Intertek Vegan Certification is designed to determine the suitability of food products for vegan and plant-based consumers. These factors are set to influence the growth of global South East Asia industry in the long run.

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South East Asia TIC Market Segment Analysis- by End User

E-Commerce segment is analysed to grow at the fastest rate of 9.84% during the forecast period 2024-2030. The growth of the E-Commerce in South East Asia is mainly driven by increasing internet and mobile phone usage, high penetration of IoT as well as improved e-payment methods& logistics. According to an article by Inside Monkey, E-commerce growth in Southeast Asia stands out at an 20.6% expansion in 2022, with sales reaching $89.67 billion from $74.36 billion in 2021 and is expected to pass $100 billion by 2023. Ecommerce sites or mobile applications need to undergo different tests including functionality, usability, security, performance, database and mobile application. TIC services judge the authenticity of the websites by testing the design, specifications, functionalities and various features to check their sanity and to ensure the protection level of the sites against any potential threats. Such benefits of these services drive the growth of TIC services market in this region. Moreover, the E-commerce sector in this region witnessing increasing cases of fraud and cyber-attacks which enhances the demand for testing, inspection and certification services in this industry. In Southeast Asia, digital payment methods are becoming increasingly accepted by most businesses and services today. According to a recent Kaspersky research titled “Mapping a secure path for the future of digital payments in APAC” published in April 2022, e-payment are the top encountered threat for most Southeast Asia countries including Indonesia (40%), Malaysia (45%), The Philippines (42%), Singapore (32%), and Vietnam (38%). Thus, significant rise in number of e-payment frauds can cater to the demand for testing, inspection & certification services within the industry.

South East Asia TIC Market Segment Analysis- by Geography

Indonesia held the highest market share of 20.9% in 2023. The economy of Indonesia is majorly driven by exporting of crude oil and natural gas and holds well established manufacturing industry, agriculture, mining and others. According to U.S Energy Information Administration, the production of petroleum and other liquids totalled 887,000 barrels per day in Indonesia in 2022, making it the seventh-largest exporter of liquefied natural gas, thus creating significant opportunities for the growth of the TIC Market. The rising number of railway infrastructure projects can be considered vital in fueling the market demand for quality testing, electromagnetic testing, and related inspection services for rail components used in the construction process within the country. In January 2022, the Indonesian Government announced the construction of the multibillion-dollar railway project with an estimated cost of $7.9 billion. It will involve the deployment of signaling systems, rolling stocks, and many related components. Such projects are bound to drive the need for railway operators or authorities to meet up with the required regulatory compliance, which in turn, can be considered vital in transforming the South East Asia TIC industry outlook in the long run.

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South East Asia TIC Market Drivers

Rising Demand Towards Food Testing or Inspection due to Increasing Import/Export activities, Agricultural or Food Contamination, Food Safety Violation and Others is Surging the Demand for Testing, Inspection & Certification Services:

The increasing demand towards food testing owing to rising import/export activities, agricultural or food contamination, food safety violation and others is one of the major growth drivers boosting the adoption rate of testing, inspection & certification services in South East Asia. Food industry is considered as a highly regulated industry due to stringent regulatory compliance ensuring food quality assurance and safety for the consumers. The levels of product recalls owing to the presence of harmful ingredients or contamination or the undeclared presence of an allergen or not an approved additives are rising within the Southeast Asian nations. Moreover, the levels of agricultural trade (both export and import) are successively increasing owing to the population boost in various countries under scope, which will support the growth of the TIC market. As per World Bank 2021, the population of Philippines grew by 1.3% in the period of 2019-20. According to International Trade Administration July 2022 update, agricultural imports in Indonesia reached over $24 billion in 2021, owing to high demand for rice, wheat, soybeans, fresh fruits, dairy beef and various feed ingredients. The following marks an increase by $5 billion or 26% from 2020 import values. Furthermore, nearly 57.8% of the total import value regarding the agricultural products in the Indonesia market was dominated by five suppliers including China, Australia, U.S, Brazil as well as India. Such increase in imports can boost the adoption of food testing services which in turn can influence the market growth.

The Safety Regulations and Standards imposed by Global as well as regional government bodies for the enhancement of medical device safety measure is accelerating the growth of South East Asia TIC Market:

A major driver in the South East Asia TIC market is the implementation of stringent regulatory requirements across various industries. Governments in the region are increasingly adopting and enforcing rigorous standards to protect consumer safety, ensure product quality, and safeguard the environment. This regulatory landscape compels companies to adhere to strict testing, inspection, and certification protocols to gain market access and maintain competitiveness. The pharmaceutical and food industries, in particular, face heightened scrutiny, necessitating comprehensive TIC services to comply with health and safety standards. The automotive and electronics sectors also require extensive TIC processes to meet international export standards. The continuous update and tightening of regulations drive the demand for specialized and advanced TIC services, fostering market growth as companies strive to align with evolving compliance requirements.

The rising safety regulations and standards imposed by global as well as regional government bodies for the enhancement of medical device safety measure is creating demand for the TIC services which in turn triggers the growth of this market. The demand for Class III medical devices such as High-frequency ventilators, blood sampling monitors, oxygen supply units and so on have been growing overtime majorly amidst the pandemic as these devices are used to maintain or protect human life. Since these devices require licensed FDA approvals before distribution across countries, the market growth of TIC services is impacted significantly. Medical device testing is critical to the entire medical device development lifecycle to ensure the safety of patients and device users. In January 2021 the Philippines Food and Drug Administration (FDA) issued circular n° 2021-001 on the product standards to which Medical Devices must comply for notification or registration. The circular was issued so that local Manufacturers, Importers and/or Distributors must comply to obtain a certificate of Medical Device notification (CMDN) or a certificate of Medical Device registration (CMDR). In August 2021, FDA had released a list of Class-A 1242 product categories in its circular 2021-017, in order to support and clarify regulatory requirements for medical manufacturers looking for market access within Philippines. Under this, medical device manufacturers of Class A products specified under the ASEAN MDD, need to mandatorily obtain a Certificate of Medical Device Notification, (CMDN), before manufacturing, distribution, importing, selling, or advertising the medical devices within the country. Thus, rise in regulations and standards can boost the demand of testing, inspection & certification services among the medical device manufacturers.

South East Asia TIC Market Challenges 

Lower Level of Digital Adoption by the Key Players coupled with the Continued Impact of Bottlenecks in Trade Flows across South East Asia region owing to Shortage of Cargo Container are Limiting the Market Growth:

Low level of digital adoption coupled with continued impact of bottlenecks in trade flows acts as a major challenge restraining the market growth of TIC market in South East Asia. According to Rothchild & Co report published in May 2021, the testing-inspection-certification digital maturity substantially lags behind the other various end-user industries which shall pose problems in the long-run. Some of the common industries against which the TIC lacked under digital technology is energy, financial institutions, industrial goods, insurance, and telecommunications. Additionally, Shortage of shipping cargos, shipment cancellations, growing freight rates along with many others have emerged as some of the prime factors adversely impacting domestic manufacturing operations across various Southeast Asian countries owing to dependency on raw material imports within the country. According to Westports Holdings Berhad report, Malaysia faces a container throughput slipping 1% year on year to 10.4 million TEUs (20ft equivalent units) in 2021. Container throughput at Westports was down 10% y-o-y in 1Q2022, reaching 2.39 million TEUs versus 2.66 million TEUs handled in 1Q2021 which leads to supply chain disruption. These factors are limiting the demand for South East Asia TIC which in turn hampers the market growth.

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South East Asia TIC Industry Outlook

Product launches, acquisitions and R&D activities are key strategies adopted by players in the South East Asia TIC Market. The top 10 companies in the South East Asia TIC market are:

SGS SA

Bureau Veritas

Intertek

DNV GL

TUV SUD AG

ALS GLOBAL

DEKRA SE

Eurofins

Cast Laboratories PTE LTD

Singapore Laboratory Services PTE LTD

Recent Developments

In December 2022- Intertek, a leading Total Quality Assurance provider to industries, announced the launch of Intertek Green R&D, an innovative integrated solution that ensures the sustainability, quality and safety attributes of a product are maintained.

In June 2022- DNV launched the MyISRS digital self-assessment tool. The service is estimated to aid organizations to run an online independent high-level survey for quality assessing applications. Some of the key industries in South East Asia that can benefit from the service include oil and gas, chemicals, utilities, power generation, telecommunication, pharmaceutics, transport, food, and beverage, and maritime. 

[healthcaremarketanalysis]

PFAS Testing Solutions: Market Growth, Opportunities, and Innovations

The global PFAS testing market in terms of revenue was estimated to be worth $110 million in 2023 and is poised to reach $217 million by 2028, growing at a CAGR of 14.4% from 2023 to 2028. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market.

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PFAS Testing: Market Dynamics Driver: Greater regulatory emphasis on effective pollution monitoring and control Authorities in many countries have started enacting various policies and legislations for effective pollution monitoring and control. Regulations and legislations set forth by government organizations have triggered the testing, inspection, and certification of environmental samples by governments and manufacturing companies. In this regard, regulatory bodies have introduced guidelines regulating the inspection, sampling, and testing of environmental samples to detect the presence of pollutants and contaminants.

Restraint: Stringent storage requirements for PFAS testing reagents and analytical standards Globally, the demand for solvents, reagents and analytical standards is increasing because of the rising number of PFAS analysis and environmental testing activities; wastewater plants and industries like food and beverages require analytical reagents and standards for parent compounds to carry per-and polyfluoroalkyl substances investigations. The PFAS testing solvents and reagents should be in the required amount and should have high purity levels. This is a major challenge as their integrity can be easily affected by degradative processes.

Opportunity: Regulatory agencies to control environmental pollution due to PFAS contamination The extensive health threats related to PFAS, the government has implemented PFAS testing regulations, which leads to the increasing adoption of environmental pollution equipment for PFAS. Additionally, in October 2021, the US EPA announced the Agency’s PFAS Strategic Roadmap, mapping out the agency’s approach to addressing the pollution due to PFAS contamination. The agency also established the EPA Council on PFAS in April 2021 to execute a bold, strategic, whole-of-EPA strategy to protect public health and the environment from the impacts of PFAS.

Challenge: Inadequate supporting infrastructure and the shortage of skilled professionals Testing & certification practices in several developing countries lack organization, sophistication, and technology. The lack of the basic supporting infrastructure for setting up testing laboratories is another major challenge to the growth of the market. Testing service providers in some developing regions also face challenges in obtaining samples from manufacturing companies as they are fragmented and dominated by small enterprises. Other key issues include a lack of institutional coordination, a shortage of equipment, technical skills, and expertise for legislating legislation at the grassroots; and a lack of updated standards.

North America is expected to be the largest market for the PFAS testing industry during the forecast period. The PFAS testing market has been segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America, comprising the US and Canada, held the largest share of the global market in 2022. On the other hand, the Asia Pacific market is estimated to register the highest growth rate during the forecast period. North America accounted for a share of 45% of the market, followed by Europe with a share of 35%. This region is witnessing growth due to greater regulatory emphasis on effective pollution monitoring and control High adoption of advanced analytical technologies and growing funding for environmental testing.

Prominent players in the PFAS Testing market include:

Merck KGaA (Germany)

Agilent Technologies (US)

LGC Limited (UK)

Waters Corporation (US)

Biotage (Sweden)

AccuStandard, Inc. (US)

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Recent Developments of PFAS Testing Industry

In August 2022, Agilent Technologies, Inc. plans to invest $20 million to expand its Shanghai manufacturing center to meet growing demand in China for the company’s advanced liquid chromatography (LC), spectrometer, and mass spectroscopy (MS) systems.

In June 2022, MACHEREY-NAGEL GmbH & Co. KG introduced NUCLEODUR PFAS and PFAS Delay, HPLC columns for the analysis of per- and polyfluoroalkyl substances (PFAS).

In September 2020, Waters Corporation established its Innovation and Research Laboratory in Massachusetts (US). For the innovation of analytical instruments and their consumables, which will strengthen the product portfolio of analytical products and consumables of Waters Corporation.

Conclusion: The PFAS testing market is poised for significant growth, driven by increasing environmental and health concerns, stringent regulatory standards, and advancements in testing technologies. PFAS, often referred to as “forever chemicals” due to their persistence in the environment and human body, have been linked to various adverse health effects, prompting a global demand for comprehensive testing solutions.

[globalgrowthinsights]

Hand Pump Market Current Scenario and Future Prospects by 2032

Hand Pump Market provides in-depth analysis of the market state of Hand Pump manufacturers, including best facts and figures, overview, definition, SWOT analysis, expert opinions, and the most current global developments. The research also calculates market size, price, revenue, cost structure, gross margin, sales, and market share, as well as forecasts and growth rates. The report assists in determining the revenue earned by the selling of this report and technology across different application areas.

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Hand Pump in these regions till the forecast period

North America

Middle East and Africa

Asia-Pacific

South America

Europe

Key Attentions of Hand Pump Market Report:

The report offers a comprehensive and broad perspective on the global Hand Pump Market.

The market statistics represented in different Hand Pump segments offers complete industry picture.

Market growth drivers, challenges affecting the development of Hand Pump are analyzed in detail.

The report will help in the analysis of major competitive market scenario, market dynamics of Hand Pump.

Major stakeholders, key companies Hand Pump, investment feasibility and new market entrants study is offered.

Development scope of Hand Pump in each market segment is covered in this report. The macro and micro-economic factors affecting the Hand Pump Market

Advancement is elaborated in this report. The upstream and downstream components of Hand Pump and a comprehensive value chain are explained.

Browse More Details On This Report at @https://www.globalgrowthinsights.com/market-reports/hand-pump-market-100563

 Global Growth Insights

Web: https://www.globalgrowthinsights.com

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[semiconductorsandelectronics]

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[businessmarketreports]

Current Trends Shaping the Australian Construction Market

The Australian construction market is undergoing a period of significant transformation, driven by a combination of economic, technological, and environmental factors.

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Several key trends are shaping the market:

1. Sustainability and Green Building

Rising Environmental Consciousness: Growing awareness of climate change and resource depletion is driving demand for sustainable construction practices.

Green Building Certifications: Achieving certifications like Green Star is becoming increasingly important for project success.

Renewable Energy Integration: Incorporating solar, wind, and other renewable energy sources into buildings is gaining traction.

2. Technological Advancements

Building Information Modeling (BIM): Adoption of BIM is improving design, construction, and facility management processes.

Modular and Prefabricated Construction: Off-site construction is gaining popularity for its efficiency and speed.

Drones and Robotics: These technologies are being used for site surveys, inspections, and even construction tasks.

3. Infrastructure Development

Government Investment: Significant government spending on infrastructure projects is driving construction activity.

Public-Private Partnerships (PPPs): Collaborations between public and private sectors are accelerating infrastructure development.

Digital Infrastructure: Investments in digital infrastructure, including broadband and 5G networks, are creating opportunities for construction companies.

4. Skills Shortages and Labor Costs

Workforce Challenges: The industry faces a shortage of skilled labor, impacting project timelines and costs.

Wage Growth: Increasing labor costs are affecting project profitability.

Automation and Robotics: Adoption of automation technologies is being explored to address labor shortages.

5. Economic Fluctuations

Housing Market Cycles: The residential construction sector is influenced by factors such as interest rates, population growth, and economic conditions.

Commercial Construction: Office space demand is impacted by economic growth and technological changes (e.g., remote work).

These trends are reshaping the Australian construction landscape, presenting both challenges and opportunities for industry players. Adapting to these changes will be crucial for success in the market.