The pre-shipment inspection market is expected to increase from USD
11.00 Billion in 2017 to USD 14.83 Billion by 2023, at a CAGR of 5.04%
during the forecast period. The base year for this study is 2017, and
the forecast period is between 2018 and 2023.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Export goods accounted for a larger share of the
pre-shipment inspection market in 2017. There is an increasing demand
for pre-shipment inspection services in most applications owing to the
rising demand for good-quality and standard products across various
industries. Manufacturers are required to ensure the products have met
the quality, technical, safety, and performance regulatory standards to
increase the marketability of their products.
In-house sourcing type accounted for a larger share
of the pre-shipment inspection market in 2017. Earlier, manufacturers
and organizations had to adhere to limited standards and regulations;
hence, it was possible for companies to build their in-house
pre-shipment inspection capabilities. In recent years, standards
pertaining to human/user safety and environmental safety have increased
and become mandatory for certain category of products.
The consumer goods and retail application held the
largest share of the pre-shipment inspection market in 2017. Customers
in consumer goods and retail markets are more demanding and less
predictable than ever before. Therefore, superior consumer understanding
and thought leadership play a crucial role in engaging the customers.
This factor holds the potential for the increase in the adoption of
pre-shipment inspection services worldwide.
In terms of regions, Asia Pacific (APAC) accounted
for the largest share of the pre-shipment inspection market in 2017.
Industrially advanced countries such as China, Japan, South Korea, and
Taiwan possess a significant export capacity. Major industries in these
countries include consumer electronics, processed foods, and
agriculture. These industries have a significant demand for pre-shipment
inspection services, which would help them to comply with international
standards.
Pre-shipment inspection increases burdens and costs
in international trade and can be counterproductive for the country of
importation and its traders, thereby restraining market growth.
Pre-shipment inspection companies are subject to local laws and have to
abide by the regulations and jurisdiction of each region and country in
which they operate, thereby reducing their effectiveness.
SGS (Switzerland) is one of the leading companies in
the pre-shipment inspection market, followed by Bureau Veritas with a
large contribution to the parent market share and high financial power,
and provides a broad service portfolio in the market with strong
technical expertise. SGS is highly focused on its continued growth
through acquisitions, strategic partnerships, and expansions to gain a
competitive advantage. Bureau Veritas is viewed to grow through an
aggressive inorganic strategy by means of acquiring small companies.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research
on 30,000 high growth niche opportunities/threats which will impact 70%
to 80% of worldwide companies’ revenues. Currently servicing 5000
customers worldwide including 80% of global Fortune 1000 companies as
clients. Almost 75,000 top officers across eight industries worldwide
approach MarketsandMarkets™ for their painpoints around revenues
decisions.
Our 850 fulltime analyst and SMEs at
MarketsandMarkets™ are tracking global high growth markets following the
"Growth Engagement Model – GEM". The GEM aims at proactive
collaboration with the clients to identify new opportunities, identify
most important customers, write "Attack, avoid and defend" strategies,
identify sources of incremental revenues for both the company and its
competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants
(Positioning top players across leaders, emerging companies, innovators,
strategic players) annually in high growth emerging segments.
MarketsandMarkets™ is determined to benefit more than 10,000 companies
this year for their revenue planning and help them take their
innovations/disruptions early to the market by providing them research
ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence
and market research platform, "RT" connects over 200,000 markets and
entire value chains for deeper understanding of the unmet insights along
with market sizing and forecasts of niche markets.
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
No comments:
Post a Comment