Testing, Inspection and Certification Market Share, Growth Rate, Forecast To 2027

According to a new market research report published by Transparency Market Research entitled “Global Testing, Inspection and Certification Market [By Service Type – Testing & Inspection and Certification; By Sourcing Type – In-house Sourcing and Outsourcing; By Industry –Infrastructure & Construction, Transformational & Contract Manufacturing, Food & Beverages, Agriculture & Forest, Information Technologies, Chemical, Healthcare & Pharmaceutical, Transportation & Logistics, Travel & Tourism, Energy & Utilities, Water & Wastewater Management, Government, Education, Textile, Cosmetics and Others]  – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2020 - 2027,” the global testing, inspection and certification market is projected to reach US$ 367,336.4 Mn by 2027. The market is expected to expand at a CAGR of 8.0% during the period from 2020 to 2027. Expanding testing, inspection and certification in the emerging market is boosted by global trade, new infrastructure standards.

Europe dominates the testing, inspection and certification market with a market share of 33% in 2019. This is primarily due to continual introduction of new regulations such as energy efficiency in construction. Testing, inspection and certification services continue to gain traction in the Europe market due to rising focus on outsourcing. The Europe testing, inspection and certification market is primarily driven by factors such as increase in demand for modernization of water & wastewater, oil & gas, and power infrastructures. Moreover, changing eating preferences along with consumer health consciousness are driving the demand for food certification in Europe.

Testing, inspection, and certification services are aimed at providing assurance to the end users that the product is accredited with international and national regulations and industry standards pertaining to quality and safety. The testing, inspection, and certification market is dependent on a mix of international and local rules and regulations. The market is witnessing growth as a result of globalization, regulations getting stricter, and increasing focus on outsourcing. Developed countries often import food products from developing countries and the quality standards in these countries are very high.

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Therefore, manufacturers in order to export to developed countries have to strictly adhere to quality standards. Environmental safety is another area of concern for the manufacturers and they have to abide by stringent environmental standards. Industries are subjected to increasingly strict environmental regulations pertaining to emission, discharge, storage, and disposal of certain chemicals, gases and other substance.

Globally, testing and inspection segment held approximately 95% market share in the testing, inspection and certification market in 2019. This is primarily due to the growing focus on monitoring and maintaining hygienic, healthy and conducive environments along the supply chain in order to safeguard the safety and quality of products. Moreover, certification segment is expected to create huge opportunities for testing, inspection and certification market over the forecast period.

Outsourcing segment is anticipated to witness healthy growth in the testing, inspection and certification market over the forecast period. There is continuous increase in outsourcing of testing and inspection services in attempt to reduce cost. Rising levels of regulations make TIC services progressively costlier, as it requires more cost for in-house testing, is acting as major growth driver for testing, inspection and certification market. Apart from this, energy & utilities segment is also expected to witness lucrative growth opportunities during the forecast period.

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This the result of new technology development and advancements in testing, inspection, and certification services for power grid management which in turn fueling the market growth. Apart from this, the provision of testing, inspection and certification services in the oil and gas sector includes various services across all stages of the lifecycle of oil and gas infrastructure starting from the feasibility to the de-commissioning stage. The oil and gas industry witnessed rapid outsourcing as a result of regulations becoming more stringent and widespread globally.

Some of the major players in the market are: Intertek Group PLC, Bureau Veritas SA, SGS Group, ASTM International, ALS Ltd., TUV SUD AG, DNV GL Group AS, AsureQuality Ltd., Underwriters Laboratories Inc, Dekra SE, Lloyd's Register Group Limited, and TÜV Rheinland Group.

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Augmented Reality Solutions Market for Broadcast Future Potential 2026

Augmented reality solutions are used to visually change the appearance of a broadcast studio. They combine real life with virtual elements and provide different perspectives of things. They can change a limited area into an unlimited space or transform a green screen with anything a user can imagine. Augmented reality solutions provide an environment of mixed encoded cameras, including handheld cameras, pedestal/hard cameras, and even steady cameras for production. The solutions are used to integrate print and video marketing. They also provide different forms of social interactions with people in a risk-free and safe environment. The overall audio-visual experience is enhanced with the help of augmented reality solutions. Augmented reality solutions provide digital game play in a real-world environment for gaming enthusiasts.

Augmented reality broadcast solutions are used for providing interaction between hosts, virtual objects, and sets. Some of the applications are created for external data sources such as charts, bars, statistics, and many others. These solutions provide visually engaging representations of the data and information. Augmented reality solutions provide broadcasters a way to share a complex story in a visual way with the help of augmented reality graphics. They allow the broadcaster to create compelling virtual set pieces and change the look and feel of the studio environment for elevating production value and enhance the storytelling process.

Augmented Reality Solutions Market for Broadcast – Drivers and Restraints

The global augmented reality solutions market for broadcast is primarily driven by growth in the digital broadcasting industry. Rise in demand for advanced digital transformation is projected to fuel demand for augmented reality solutions within the broadcast industry across the world in the near future. Currently, a rise in the demand for live rendering, realistic live shadows, and realistic live reflections is expected to boost demand for augmented reality solutions around the globe.

Furthermore, increase in the adoption of cloud-based solutions by broadcasters in order to enhance storytelling and provide a better interaction between presenters and graphics objects is likely to boost the market. These value additions are projected to fuel the demand for augmented reality solutions from the broadcast industry worldwide. Moreover, the adoption of augmented reality solutions dedicated to special events such as elections and sports is anticipated to fuel demand for them globally. However, complicated virtual multi-camera environment and quality of the graphics and backgrounds are projected to hamper the demand for augmented reality solutions across the globe. Furthermore, integration challenges are restraining market growth.

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Augmented Reality Solutions Market for Broadcast - Segmentation

The global augmented reality solutions market for broadcast can be segmented based on solution, deployment, and region. Based on solution, the augmented reality solutions market for broadcast can be classified into hardware, software, and services. In terms of deployment, the augmented reality solutions market for broadcast can be categorized into cloud-based and on-premise. The services segment can be sub-divided into professional services and managed services. The cloud segment can be further classified into public, private, and hybrid.

In terms of region, the global augmented reality solutions market for broadcast can be segmented into Europe, North America, Middle East & Africa, South America, and Asia Pacific. The augmented reality solutions market for broadcast in North America is estimated to expand at a substantial rate during the forecast period. This is primarily attributable to the early adoption of augmented reality solutions by organizations resulting in high penetration in the region. North America is expected to hold a prominent share of the global augmented reality solutions market for broadcast during the forecast period. The market in Asia Pacific is anticipated to expand at a significant pace during the forecast period. The region is estimated to present attractive growth opportunities to the augmented reality solutions market in the near future.

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Solar Based IoT Market Analysis By Trends

The market for solar based IoT is an amalgamation of implementing renewable sources and digitization methods. This is a brand new concept and is expected to establish its position globally in the forecast period. Internet of Things is one of the fastest growing trends in technology which allows all machines and devices to connect and communicate with each other. The growth of solar based IoT global market is likely to be seen perpetual in the coming years. 

TMR has announced a new addition report titled “Solar Based IoT Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2018–2026”. The report offers a detailed insight into the growth, opportunities and factors positively influencing the global solar based IoT market. It also discusses latest technological developments, trends and competitive landscape. It also highlights some of the challenges that the global market could face during the forecast period.

This information is taken from reliable and valid sources such as white papers, journals, news updates, and press releases of various players functioning in the global market. The report offers valuable information on the key players which includes company overview, recent updates, innovation and research and development activities for product development. 

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Global Solar Based IoT Market: Key Drivers and Restraints 

The global solar based IoT market is expected to prosper with the growing developments in technology along with digitization. Another driver responsible for the growth of solar based IoT market especially in the industrial sector is that the optimum use of IoT makes products more energy and material-efficient. Developments such as digitizing and harnessing solar energy are anticipated to simplify industrial processes for end-users and power producers. This would finally allow consumers and producers to gain maximum returns from their investment. Furthermore, solar based IoT products are capable of tracking energy consumption so as to avoid its wastage. The aforementioned drivers contribute to the growth of solar based IoT market globally and these factors are expected to drive the demand for the global market in the forecast period. 

Though there are factors influencing the market growth of solar based IoT, yet some restraining factors are expected to impede the growth in the forecast period. Cybersecurity issue needs to be looked after in the upcoming years. Experts in IoT have also said that there is no solid strategy to overcome cybersecurity. Nonetheless, with rising digitization many companies are finding solutions to resolve this issues. This, in turn will eventually lead to the growth of solar based IoT market in the near future. 

Global Solar Based IoT Market: Regional Outlook 

The global market for solar based IoT is fragmented into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. Of these, North America is anticipated to cover majority of the market share in the forecast period owing to the increasing IoT applications across different industries. Adding to this, extensive use of smart devices is also anticipated to surge demand for solar based IoT. Asia Pacific is also expected to rise significantly due to the rapid increase in digitization especially in countries like Japan. 

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Global Solar Based IoT Market: Competitive Insight 

In order to understand the existing competition better, the report also highlights some of the key players functioning in the global solar based IoT market. Some of these companies include Voltaic Systems, Alta Devices Inc., Cypress Semiconductor Corporation, and Solar Sps. These companies are continuously working on optimizing the use of resources and reducing the cost.

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Custom Software Development Services Market Trend Shows A Rapid Growth By 2026

Custom software development services is a kind of extensive services offered by vendors. These services largely include software development from scratch, integration with currently running projects, shift from a legacy system toward a new platform, providing of maintenance services, designing of IT infrastructure, and running of different tests to ensure product quality. Furthermore, custom software development service vendors ensure complete software development lifecycle analysis as well as deployment, maintenance, and support services. Service vendors operating in the market provide software development and quality assurance services that help enterprises in resolving crucial issues related to product quality.

A wide range of vendors operate in the market providing custom software solutions spanning a wide area ranging from SAAS development, software product development, cloud-based solutions, enterprise software development, and custom ERP development to business software consulting.

Custom Software Development Services Market - Drivers and Restraints

Custom software development services witnessed high demand, largely due to the rising need for more business-specific software. Earlier, software solutions that were developed used to serve a wide range of purposes of an organization. However, a majority of these software used to prove inadequate when the organization had to expand. This led to emergence of custom software development services. Custom software development service providers build and design solutions to cater to specific needs of businesses.

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Custom software development is becoming popular among enterprises that are largely looking for scaling up of their business operations. Custom software development offers several benefits to enterprises. One of the key benefits is reduction in long-term costs. However, initial development and implementation of custom software is costlier than that of basic software solutions. However, in the long run, these basic software solutions do not fit to the increasing requirement of businesses and hence, the organization may have to start the process of software procurement and implementation all over again. In case of custom software development, the scenario is quite different. Since the software is custom-made, enterprises do not require any further investment in the software, in the long run. This, in turn, leads to total cost reduction.

The custom software development services market is driven by growing requirement for customized software among enterprises. Moreover, enterprises are always looking for reducing long-term costs. Since custom software development leads to long-term cost-effectiveness, demand for custom software development services is rising.

Key trends in the custom software development services market include emergence of chatbots, increase in the demand for PaaS solutions, and the rise of open-source solutions,. Currently, the software development technology that is gaining momentum is chatbots. In recent times, chatbots have emerged as an effective tool for maintaining ease of doing business. The customer software development services market is expected to witness the trend of increase in chatbot development in the next few years.

Custom Software Development Services Market - Segmentation

The custom software development services market has been segmented based on solution type, deployment type, end-user, and region. In terms of solution type, the custom software development services market can be bifurcated into web- /desktop-based solutions and mobile-based solutions.

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Based on deployment, the custom software development services market can be divided into cloud-based services and on-premise services. In terms of end-user, the custom software development services market can be segmented into small & medium enterprises (SMEs) and large enterprises. Based on region, the custom software development services market can be categorized into North America, Europe, Asia-Pacific, South America, and Middle East & Africa.

Custom Software Development Services Market - Key Players

Key players operating in the global custom software development services market are Fingent Corporation, Elinext Group, Flatworld Solutions Pvt. Ltd., Kanda Software, DEVTECHNOSYS, NIX Solutions Ltd., SPEC INDIA, TatvaSoft, Trigent Software, Inc., and Oxagile.

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Facility Management Software Market Research Report To 2026

Facility management software helps an organization manage the complete repair and maintenance work through a web-based panel.  The software is designed to help enterprises save time and cost and manage the building premises efficiently and effectively. The solution helps ensure productivity, safety, comfort & convenience, and cost-effective operations through seamless integration of all functionalities in real-time. Earlier, facility managers struggled to manage the needs of the organization and incurred high cost for energy, maintenance, and security. Facility managers therefore sought ways to streamline their facility management operations due to these challenges. Today, facility managers can smoothly manage various facilities using facility management software that are available in the market.

Growing need among facility managers to reduce day-to-day operational costs of managing and maintaining facilities drives the facility management software market. Facility management software are scalable and flexible, which helps the managers to manage extended facilities without changing the software design. The facility management software market is projected to be highly lucrative due to the increase in adoption of the software among mid-size enterprises in the next few years. Rise in demand for software solution which easily integrate with other existing software, such as enterprise resource planning (ERP), is projected to create opportunities in the market.

A number of facility management software offer features such as asset management, preventive maintenance scheduling, work order management, procurement management, contract management, and property management. These software can be integrated with most building management/automation systems (BMS/BAS). Most facility management software solutions support various operating system such as Windows, Mac, and Linux; therefore, diverse organizations can easily use the software without the requirement for any additional IT infrastructure.

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The global facility management software market can be categorized based on region, end-user, enterprise size, deployment, and services. In terms of region, the facility management software market can be divided into North America, Asia Pacific, Middle East & Africa, and South America. Based on end-user, the facility management software market can be segregated into airports, manufacturing plants, government buildings, hospitals & pharmacies retail stores / hotels, residential complexes, IT parks, and other commercial buildings.

In terms of enterprise size, the facility management software market can be segmented into small & medium enterprises (SMEs) and large enterprises. Based on deployment, the facility management software market can be bifurcated into on premise and cloud/software-as-a-service (SaaS)-based model. In terms of services, the facility management software market can be categorized into implementation services, maintenance, and integration services.

Players operating in the global facility management software market are strategically engaging in mergers and acquisitions. This is likely to consolidate the market in the next few years. Investment firms have also shown interest in this facility management software market. These companies are funding start-ups, thereby promoting new companies to enter the market. This, in turn, is increasing competition in the global facility management software market.

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The competition is largely on the basis of pricing models, integration facilities, and features that the software platform offers to the target customer/end-user. Vendors are engaged in developing innovative software solutions by making it more user-friendly and scalable to get an edge over the competitors. Easy to use mobile apps are being developed by various facility management software companies for enterprises. Flexible subscription models are also being offered by players to attract and retain customers.

Key players operating in the global facility management software market include SIERRA ODC Private Limited, Hippo CMMS, Fluke Corporation, MPulse Software, Inc. Maintenance Connection, Quick Base, CBRE ServiceInsight, and AssetWorks, LLC.

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Temperature Sensor Market Share, Growth Rate, Forecast To 2024

Amidst a high degree of fragmentation and intense competition, top six players in the temperature sensors market held mere 19% share in the overall market, finds Transparency Market Research (TMR) in a new report. As the market suffers from lack of differentiating attributes in key products, this has given rise to price-wars among market participants for greater share. In this competitive market, leading vendors are vying to consolidate the vendor landscape and are proactively engaging in strategic collaborations.

Some leading participants in the global temperature sensor market are ST Microelectronics N.V., Panasonic Corp., Infineon Technologies AG, Honeywell International Inc., General Electric Co., and Texas Instruments Inc.

As per the TMR report, the global temperature sensor market will expand at a steady 4.6% CAGR over the 2016-2024 forecast period. At this pace, the market which stood at US$4.6 bn in 2015 will become US$6.6 bn by 2024. Vis-à-vis volume, the market is anticipated to exceed 2.93 bn units by 2024. Among the key product types being purveyed in the market, which includes thermistors, resistance temperature detectors, bimetallic temperature sensors, thermocouple, infrared temperature sensors, and fiber optic temperature sensors, thermistors account for grossing maximum revenue in the recent years. Going ahead too, the segment is poised to continue to remain at the fore. However, infrared temperature sensors is likely to witness a high growth rate vis-à-vis revenue due to their rising applications across several industry verticals.

Geographically, North America is presently the dominant regional market. This is mainly because of increasing adoption of temperature sensors across the medical, oil and gas, and healthcare sectors.

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Flourishing Consumer Electronics to Present Attractive Opportunities

According to the report, majorly fuelling the global temperature sensor market is increasing bend of key industries towards non-contact sensors, vast rise in demand from flourishing consumer electronics industry, along with increasing number of applications. Among these, consumer electronics is predicted to provide attractive growth opportunities to the temperature sensor market. The soaring demand for mobile phones, wearable devices, laptops, LCDs, and fitness bands is acting in favor of the temperature sensor market, says the report.

The modernization of the medical and healthcare sector is a key factor fuelling the global temperature sensor market. Several governments especially in developed nations are taking initiatives to provide comprehensive healthcare at each and every healthcare facility be it in the remotest region of the nation.

Expanding Manufacturing Sector in Asia Pacific Benefits Market

Apart from this, expansion of the oil and gas sector is serving to boost the temperature sensor market. The growth of the manufacturing and semiconductor and electronics industries in Asia Pacific is also fuelling the temperature sensor market.

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The review presented here is based on the findings of a TMR report, titled “Temperature Sensor Market (Type - Thermistor, Resistance Temperature Detector, Thermocouple, Infrared Temperature Sensor, Fiber Optic Temperature Sensor, and Bimetallic Temperature Sensor; Sensing Method - Contact Temperature Sensor and Non-contact Temperature Sensor; by End User - Food and Beverage, Aerospace and Defense, Chemicals, Oil and Gas, Semiconductor and Electronics, Automotive, and Healthcare) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024.”

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Gesture Recognition Market Trends and Growth

The global gesture recognition is consolidated due to just few players operating in the market. These few players in the market include Google, Apple, Intel, and Microsoft, elucidates an upcoming Transparency Market Research (TMR) report. These key players in the market are always at a forefront to bring in technological advancement to introduce the latest product and diversify the global gesture recognition market. The small players at regional level are also spreading their wings by attracting large companies to invest in them. 

Rising technological advancement and automation is predicted to expand the gesture recognition market. The global gesture recognition market is predicted to expand at 16.2% CAGR over the projected period 2015 to 2024. Also, the same was registered value worth US$ 11. 60bn in 2015, at this robust pace of growth the global gesture recognition market is projected to reach estimation worth US$ 48.56 bn by the end of 2024. 

On the regional front, North America is expected to dominate the global gesture recognition market. The reason for growth can be attributed to the presence of latest technology and optoelectronic companies. Asia Pacific is expected to emerge as a strong region in the future.  On the basis of segmentation, the global gesture recognition market is divided into automotive, hospitality, gaming, and consumer electronics, in terms of end users. Among these, the consumer electronics sector is projected to lead the global gesture recognition market in the following years.

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Rising Demand for Smart Electronic Products to Boost Growth 

In the era of digitalization, there is a rising demand for smart electronic products such as Ipad, tablets, mobile phones, smart tv’s, cameras, etc. In all these applications gesture recognition is used to make them user friendly and to access them effortlessly. Thus, the upswing of electronic goods due to increasing standard of living is projected to nudge the global gesture recognition market in the future. 

Rapid urbanization is raising the demand for latest technology to upkeep the pace in automated and technologically advanced world. Ever booming travel and hotel industry may increase the demand for gesture recognition for integrating them in hand dryers, faucets, shower, and flushes.  Thus, owing to the substantial expansion of the global gesture recognition market. 

Automated Homes to Create Growth Opportunities 

Homes are getting smarter these days with advent technological advancement at a fast pace. Now, let us get into future, soon the homes are going to be completely automated. The future technology is expected to take over all home devices to be controlled by gesture recognition. Such as switching on TV, lights, music systems, etc.  Thus, the future is expected to provide lucrative opportunities for gesture recognition, owing to expansion of the global gesture recognition  market in the future. 

Moreover, gesture recognitions are used in automobile industry for blind spot recognitions, parking assistance, etc. The demand for gesture recognition sensors from automobile industry is projected to surge the global gesture recognition market in the upcoming years. Further, gaming industry and corporate sector may boost demand, imagine the day when the P C can be controlled using just and fingers. Making presentation may no longer be a tedious task in the future. Thus, the global gesture market is likely to provide lot of potential in terms of future applications. 

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High cost associated with implementation of the same and unpredictability to discover the correct user may restrain the growth in the global gesture recognition market. Nonetheless, growing research and development in this field is projected to provide substantial growth opportunities in the coming years. 

This review is based on the findings of a TMR report titled, “Gesture Recognition Market (Technology - Touch Based Gesture Recognition (Gyroscope, Accelerometer, Combo Sensor), Touchless Gesture Recognition (Ultrasonic (3D Gesture), Infrared 2D Array, Camera Solutions); Application - Automotive, Hospitality, Consumer Electronics, Gaming, Aerospace and Defense, Commercial Centers, Educational Hubs, Medical Centers) - Global Industry Analysis Size Share Growth Trends and Forecast 2016 – 2024.” 

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