The Testing, Inspection and Certification (TIC) market has grown due to the globalisation of trade and markets, new regulations and standards and increasing concern about product safety and quality increasing demand for testing services.
Our work ensures our customers meet these safety, regulatory and performance standards, while also helping them to realise their own quality and commercial goals.
Our customers’ market drivers present opportunities for Exova to grow and to secure market share through the provision of technically demanding services.
- Global TIC market worth an estimated £120bn
- Approximately 47% outsourced to third-party providers
- Customer New Product Development
- Increasing complexity of materials & components
- New techniques and R&D
- The development of new products
- Increasing ‘per unit of output’ testing requirements
- Increasing government/self-regulation
- High cost of potential failure
- Increasing risk and reputational awareness
- Underlying volume growth
- In-house capacity constraints
- Globalisation and increasing complexity of supply chain
- Large in-house market
- Customers focusing on core activities
- Customer value/cost-control propositions
- Like-for-like price increases
- Low price relative to cost of getting it wrong