Consumer Products Testing Service Market Scope
Consumer product testing services is essential for offering quality assurance regarding the consumer goods. This testing ensures quality assurance regarding the safety, efficacy and durability of the products. Number of testing are used to evaluate product’s offerings and uniqueness. Increasing focus of market leaders on consumer’s retaining via offering qualified products is impacting on the demand for the market in positive manner. Further, growing demand for automotive parts, electronics, and retail goods driving growth for the market as consumer products testing is broadly used as a preventive measure and parameter of quality checking. Hence, increasing end-user industrial expenditure is impacting the market in a positive manner. Geographically, the Asia Pacific region is expected to grow with the highest market share over the forecast period followed By North America and Europe.
The market of Consumer Products Testing Service is expected to grow with rising consumer goods and retail industry across the globe. Increasing demand for quality and inspection activities in consumer electronics driving the demand for the market. Several companies are operating in the market to provide consumer products testing service with various features & unique testing. The market is highly fragmented with the presence of several market players. They are gaining attention owing to their innovative and novel portfolio.
UL (United States), Eurofins Scientific (Luxembourg), SGS (Switzerland), Intertek (United Kingdom), Bureau Veritas (France), DEKRA SE (Germany), TÜV NORD (Germany), ALS Global (Australia), Mistras (United States), NTS (United States), TÜV RHEINLAND (Germany), CETECOM (Germany), Avomeen (United States), DNV GL (Norway), Element Materials Technology (United Kingdom), Applus+ (Spain) and Asia Quality Focus. (China) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Spectro Analytical Labs (India), EKG Labs (United States) and Testree (India).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Consumer Products Testing Service market by Type (Chemical Testing, Physical Testing, Sensory Testing, Claims Testing, Accessories Testing, IP Protection Testing and Others) and Region with country level break-up.
On the basis of geography, the market of Consumer Products Testing Service has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
In September 2021, National Testing House expands testing services to consumer products like cosmetics, electronic items. It has expanded its services for packaged drinking water and testing services for EV batteries, solar panels, LED lamps etc. With this portfolio expansion, National Testing House is able to offer its qualified testing services.
Section 14(a) (3)(E) of the Consumer Product Safety Act, as amended, requires the Commission to 'maintain on its Internet website an up-to-date list of entities that have been accredited to assess conformity with children's product safety rules.'
Market Trend
- High Demand from Electronic Goods Industry to avoid further Dysfunctionality
Market Drivers
- Augmenting Industrial Expenditure of Consumer Goods & Electronics
- Rising Preference for Quality Inspection Activities
Opportunities
- Technological Advancements in Testing Methods
- Introduction of Machine Learning and AI in Testing for Accuracy
Restraints
- Huge Cost Involved in Product Testing
Challenges
- Strict Regulatory Compliances
Key Target Audience
Consumer Products Testing Service Providers, Regulatory Authorities, New Entrants/Investors, Strategic Business Planners, Governments and End Use Industries