VITA Technologies
  • VME
  • XMC
  • FMC
  • PMC
  • VNX
  • VPX
Menu
  • VME
  • XMC
  • FMC
  • PMC
  • VNX
  • VPX
  • Articles
  • White Papers
  • Products
  • News
Menu
  • Articles
  • White Papers
  • Products
  • News
  Industry News  Testing and Analysis Services Market to Log 5.6% CAGR from 2015 to 2023
Industry News

Testing and Analysis Services Market to Log 5.6% CAGR from 2015 to 2023

Transparency Market ResearchTransparency Market Research—May 23, 20160
FacebookTwitterPinterestLinkedInTumblrRedditVKWhatsAppEmail

The global testing and analysis market is exhibiting a CAGR of 5.60% within a forecast period from 2015 to 2023. This market is expected to reach US$29.1 bn in 2023. It was valued at US$17.9 bn in 2014, as stated in a research report released by Transparency Market Research. The report, titled “Testing and Analysis Services Market: – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2023,” encapsulates all factors important in understanding the future situation that this market is expected to be in.

Get a Free Sample Report:

www.transparencymarketresearch.com/sample/sampl[…]

According to the report, the primary driver for the global testing and analysis services market is the rapidly increasing need for it in the industries of food and beverages, pharmaceuticals, and medical devices. These sectors have undergone several changes in terms of new legislations. Companies in these sectors need to comply with the new standards of safety and therefore need to make wider use of testing and analysis services.

More stories

Pentek’s Real-Time Multiband Recording and Playback Transceiver Development Platform Boasts Improved Performance and System Density

May 16, 2006

Dynatem Upgrades High-Performance, Low-Power Pentium M CPU in a single VMEbus slot

September 13, 2005

Fujitsu Expands its FM3 Family of ARM(r) Cortex(tm)-M3 based Microcontrollers with new High Performance Derivatives

November 14, 2011

Curtiss-Wright Announces Assured Position, Navigation & Timing (A-PNT) Solution Roadmap

May 22, 2018

Government regulations have grown more stringent after most economies started recovering following the 2009 meltdown. These mandatory requirements imposed by governments on multiple industries involve product characterization, safety, as well as quality assurance. Companies that are looking for organic growth must also make sure their locations and products meet the latest regulatory standards.

One of the major trends in the global testing and analysis services market is the growing preference for outsourcing testing and analysis services. Outsourcing provides the benefits of customized testing services and also helps a company cut down on costs while availing high-quality services. In a 2012 survey for laboratory services outsourcing, it was revealed that 93.0% of the companies that took part in the survey had opted for some form of outsourcing of lab services.

The report provides a segmented analysis of the global testing and analysis services market through the criteria of sample type, analysis type, industry, and geography.

Based on sample type, the global testing and analysis services market was dominated by the food and beverages segment in 2014 owing to a growing presence of small and medium companies in this sector. Most of these companies prefer to outsource testing and analytical services. The food and beverage segment is also expected to expand at the fastest rate due to the growing awareness among consumers regarding food safety standards.

In terms of analysis type, the global testing and analysis services market was dominated by the elemental analysis segment in 2014. The report goes further into this segment’s analysis, stating that 44.0% of SMEs outsource their elemental testing analysis needs. Additionally, almost 70.0% of outsourced tests are provided by industrial sources, while the remainder is given to public or private organizations.

North America dominated the global testing and analysis services market in 2014, followed closely by Europe. These regions led the global testing and analysis services market due to the high demand for advanced testing and analytics, especially in elemental testing, as well as the financial ability of SMEs to procure these tests.

The key players in the global testing and analysis services market are LECO Corporation, Applus, TÜV SÜD, Koninklijke Philips N.V., Maxxam, Acuren, TÜV Rheinland, Exova, Eurofins, ALS Global, Intertek Group plc, SGS S.A., and Bureau Veritas.

Full Research Report on Global Testing and Analysis Services Market:

www.transparencymarketresearch.com/testing-anal[…]

FacebookTwitterPinterestLinkedInTumblrRedditVKWhatsAppEmail
Global M2M Satellite Communication Market, Forecast 2016 – 2024
Intersil’s 5A and 3A Power Modules Offer Industry-Leading Power Density and Efficiency
Related posts
  • Related posts
  • More from author
Eletter Products

SPONSORED: SpaceVPX Solutions From Pixus Technologies

May 28, 20250
Eletter Products

SPONSORED: Mission-Ready Chassis Management Aligned to SOSA®

May 28, 20250
Eletter Products

SPONSORED: 2300W Intelligent VPX Power Supply

May 21, 20250
Load more
Read also
Eletter Products

SPONSORED: SpaceVPX Solutions From Pixus Technologies

May 28, 20250
Eletter Products

SPONSORED: Mission-Ready Chassis Management Aligned to SOSA®

May 28, 20250
Eletter Products

SPONSORED: 2300W Intelligent VPX Power Supply

May 21, 20250
Eletter Products

SPONSORED: Small Scale 4 Slot OpenVPX and SOSA Aligned System Development

May 21, 20250
Eletter Products

SPONSORED: 3U VPX HD Switch Doubles Backplane Density

May 14, 20250
Eletter Products

SPONSORED: Rugged 1/2 ATR Aligned to SOSA, CMFF and SAVE Ready

January 30, 20250
Load more

Recent Comments

No comments to show.
  • Articles
  • White Papers
  • Products
  • News
Menu
  • Articles
  • White Papers
  • Products
  • News
  • VME
  • XMC
  • FMC
  • PMC
  • VNX
  • VPX
Menu
  • VME
  • XMC
  • FMC
  • PMC
  • VNX
  • VPX

© 2023 VITA Technologies. All rights Reserved.