Press Release

Global TIC Market for Government & Public Sector Industry was USD 4.2 billion in 2020, registering a CAGR of 2.2% during the forecast period 2021-2027

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The global TIC market for government & public sector is anticipated to grow at a CAGR of 2.2% during the forecast period 2021-2027.TIC services offer improvement in the manufacturing process help improve the standards of the manufacturing process by complying with the regulations globally via testing, inspections, and certifications. TIC services will ensure safety, quality, and cost-effectiveness in public sector services and infrastructure.

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Furthermore, stringent and compulsory safety regulations, development in networking and communication technology, digitalization, need to create brand image, less turnover of employees, and rapid improvement of various processes will fuel the growth of TIC in the government & public sector industry. Protection from critical risks like supply chain terrorism, cargo disruption, smuggling, and counterfeit production is significant for the government so TIC plays an important role in identifying, analyzing, and manage global supply chain operations and risks.

The COVID-19 outbreak has allowed the government & public sector to be flexible about remote collaboration, embrace authenticity, and have entered into digital platforms.

Intertek, a leading Total Quality Assurance provider to industries worldwide has been awarded a contract by the Ministry of Industry, Trade, Green and Digital Economy (MICEVN) of Morocco to provide support to the Verification of Conformity Programme (VoC) for exports.

Based on industry vertical, the TIC market for the government and public sector is divided into government (customs services, import & export) and public sector (border control, E-government, quality, health, safety and environment (QHSE), Road Safety & Vehicle Management). TIC plays an important role in the border control segment there is a need to install scanners globally and trained personnel to operate them effectively and efficiently. Moreover, there is a need to have risk profiling and management at ports, airports, and land borders. So, there is a need for TIC services to assess the quality and conduct audits and certifications against a wide range of internationally recognized systems.

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APAC is anticipated to have the fastest-growing TIC market in government & public sector industry during the forecast period due to rapid urbanization, globalization, and industrialization in countries like China, India, Japan, etc. Furthermore, the strong presence of industry players in the TIC services will bolster the growth of the TIC market for the government & public sector industry.

Some of the key players operating in the TIC market in the Government & Public Sector: Intertek Group plc, Bureau Veritas, UL LLC, SGS SA, Eurofins Scientific, The British Standards Institution, Element Materials Technology, Sai Global Pty Limited, Applus+, and DNV GL.

Tags: TIC Market for Government & Public Sector, Government & Public Sector Industry

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