Testing Inspection and Certification Market Share

APAC Market Statistics

The Asia Pacific testing, inspection, and certification market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2037. The growth of the market can be attributed majorly to the rising production and demand for autonomous vehicles. Testing, certification and inspection are important for testing the various codes of the vehicle and the safety of the self-driving vehicles. Around 35% of the 100 million lines of code for the driverless car are being written by Indian engineers. Moreover, in an effort to hasten the commercialization of self-driving technology, China revised its restrictions on testing driverless cars in August 2021. Qualified companies are now permitted to undertake trials of autonomous vehicles used to transport people and products on motorways and city streets.

North American Market Forecast

The North American testing, inspection, and certification market, amongst the market in all the other regions, is projected to hold the second largest share during the forecast period. The growth of the market can be attributed majorly to the rising trade of the United States with other countries. According to the U.S. International Trade in Goods and Services, the entire value of American exports in January 2023 was USD 257.5 billion, which is USD 8.5 billion greater than in December. The number of imports in January was USD 325.8 billion, USD 9.6 billion more than in December. On the other hand, market growth in the region is also expected on the account of the launch of new testing, inspection, and certification services for various industries. For instance, the CSA Group launched an accredited, specialized laboratory for testing and verifying the safety of medical-grade PPE. The new facility is to be set up in Toronto, Canada.

Europe Market Forecast

Further, the market in Europe, amongst the market in all the other regions, is projected to hold a significant share by the end of 2037. The growth of the market can be attributed majorly to the rise in the volume of export and import in the region. Consumer electronics, food & beverages, and, automotives are the three main areas of trade in Europe. According to Eurostat, 2021 witnessed a growth in imports and export since the pandemic, in comparison to 2020, the volume of imports and exports increased by 23% and 13%, respectively.