Management System Certification Market Share, Size, Trends, Industry Analysis Report, By Service (Certification & Verification, Training & Business Assurance); By Certificate; By Application; By Region; Segment Forecast, 2022 - 2030
- Published Date:May-2022
- Pages: 111
- Format: PDF
- Report ID: PM2389
- Base Year: 2021
- Historical Data: 2018 - 2020
Report Outlook
The global management system certification market was valued at USD 25.68 billion in 2021 and is expected to grow at a CAGR of 5.2% during the forecast period. The rising number of stringent norms to meet quality standards and the availability of favorable government policies for certified products are the major factors that foster the management system certification market demand.
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In addition, rising public awareness for the consumption of the quality product, as well as growing needs for quality-rich products among various end-user companies, are anticipated to accelerate the management system certification market growth. Moreover, an increase in disposable income is leading a large group of the population to be inclined toward branded products, further acting as a catalyzing factor for the industry growth over the forecasting years.
The outbreak of the COVID-19 has created unprecedented turmoil and drastically affected organizations and the economy globally. The management system certification market was also negatively affected during this period owing to the strict lockdown as the product demand of various end-user industries such as consumer goods & retail, automotive, food & beverages experienced a downfall.
On the other hand, the healthcare sector boosts the product demand during the pandemic. Consequentially, the industry experienced growth in the healthcare sector compared to other end-use verticals experienced brings a significant upsurge in the industry. However, the gradual opening of the lockdowns is also presenting various growth prospects for the management system certification market growth in the projected years.
Industry Dynamics
Growth Drivers
The rising disposable income and shifting demand towards the adoption of branded products or certified products by the population are the factors that are likely to propel industry growth in the foreseen years. The government, manufacturers, and public spending on the quality of products are increasing due to the threat of allergies and side effects of low-quality products across the world.
Hence, branded and certified products are gaining huge traction that accelerates the industry growth. Moreover, the rising demand for consumable goods, health care services, and other end-user industries is anticipating fostering industry growth. For instance, the demand for the food & beverages industry is increasing rapidly in China and India due to the escalating population. For instance, as per the Indian Brand Equity Foundation (IBEF), in 2020, the food & beverages industry will account for about 3% of the country’s GDP.
Accordingly, the growth of the food & beverage industry is bolstering the demand owing to the rising need for high-quality and safe products to maintain the health & hygiene of the consumers. Furthermore, increasing R&D activities, rising investment, product launches, infrastructure improvements, etc., towards the enhancement and improvement of the industry will also augment growth expansion in the coming years.
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Report Segmentation
The market is primarily segmented based on certification, service, application, and region.
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By Certification |
By Service |
By Application |
By Region |
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Insight by Certification
The product certificate segment is deemed to be the dominating in 2021 across the world. It is expected to hold the highest market shares owing to factors such as the imposition of stringent government regulations for the certified product and growing digitalization, and increasing online shopping.
For instance, according to the International Standard Organization, in 2020, the ISO has introduced protocols and certifications for the quality of the products. It includes ISO 9001 for the quality management systems, ISO /IEC 27001 for the quality control of Information technology, and ISO 14001 for the quality control of environmental management systems. Accordingly, these factors are expected to stimulate segment dominance in the forecasting period.
The management system certificate is estimated to attain a lucrative growth rate in the forecast period. Management system certification is rising rapidly all over the globe due to rising digitalization, increasing penetration of smart technologies, and growing demand for electronic appliances.
For instance, as per the United Nations, the demand for digitalization globally leads to the rising adoption of electronic devices in 2020. Also, around 50 percent of the global population is using electronic devices in the present scenario, and it is likely to grow in the approaching years. Thereby, the rising need for accuracy and speed in manufacturing designing, manufacturing, and repairing industries further acts as a catalyzing factor for the industry demand worldwide.
Geographic Overview
Asia Pacific accounted for the largest revenue share in the global market. The increasing digitalization and rapid penetration of novel technology towards the improved product quality coupled with the rising disposable income of the population are the major factors that are surging the market demand across the region.
In addition, the growth of end-use industries, which include food & beverages, IT sector, and healthcare, coupled with the rising population, creates beneficial growth for the market. Moreover, the presence of leading companies in the region, as well as the growth of the emerging markets in China, Japan, and India, are also anticipated to drive the market growth. Moreover, the North American market is anticipated to exhibit the highest CAGR over the forecasting years owing to changing lifestyles and raising public awareness of the adoption of branded products.
The rising disposable income enables people to pay an extra amount for the adoption of quality products, along with rising health consciousness is accelerating the demand for certified consumable goods and other products for safety purposes. Moreover, the execution of government policies for the adoption of management system certification is further offering growth prospects to the market growth in the near future.
Competitive Insight
Some of the major players operating in the global market include ALS Limited, Applus+, Bureau Veritas, Dekra SE, DNV GL, Eurofins Scientific, Finecert, GCL International, Intertek, IRClass, Lloyd’s Register Group Limited, Rina S.P.A., SGS Group, Tüv Rheinland, and United Registrar of Systems (URS).
Management System Certification Market Report Scope
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Report Attributes |
Details |
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Market size value in 2021 |
USD 25.68 Billion |
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Revenue forecast in 2030 |
USD 40.53 Billion |
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CAGR |
5.2% from 2022 - 2030 |
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Base year |
2021 |
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Historical data |
2018 - 2020 |
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Forecast period |
2022 - 2030 |
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Quantitative units |
Revenue in USD Million/Billion and CAGR from 2022 to 2030 |
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Segments covered |
By Certification, By Service, By Application, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Key companies |
ALS Limited, Applus+, Bureau Veritas, Dekra SE, DNV GL, Eurofins Scientific, Finecert, GCL International, Intertek, IRClass, Lloyd’s Register Group Limited, Rina S.P.A., SGS Group, Tüv Rheinland, and United Registrar of Systems (URS) |
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