Quality Control Market Overview:
According to the National Sanitation Foundation (NSF) International, approximately global food industry suffers the burden of $49 billion owing to food fraud which is a serious issue all over the world. Encountering major problems related to quality analysis of the industrial food hinders brand image and loss of reliable customers consequently slowing the pace of economic build up. Quality control facilitates standard measures for product inspection, which thereby lowers the production cost, builds a healthy owner-consumer relationship, ensures safe brand identity, and increases sales and overall product price. Not only this process gauges quality management and problem identification for food and beverage industry, it also identifies any unsatisfactory product feature both in the government and private industrial firms, organizations, medical facilities, project management, and many others. It is essential for every manufacturing company to maintain customers’ trust and uniform commodity quality for established business and long-term survival in the current competitive landscape gradually increasing the global quality control market demand which is evaluated to grow at a CAGR of 6.18% through to 2025. This continuously amplifies the global quality control market size owing to which it leveraged a huge profit of $36.89 billion as of 2018.
Annually food and beverage industry contributes around $31.1 billion to the UK economy along with a total of $23 billion exported food and drink services. This exponential data reflects the expanding opportunity for quality control system in this region extracting huge revenue income through it. Europe contributed a regional share of 31.18% to the global quality control market in the year 2018 attributing to the rising supply-demand chain. Automotive and public infrastructure are the two most macroeconomic industries which constantly require effective quality analysis and management procedures to persist in the ever-changing business market. Resultantly, this key segment will exert huge demand for quality control services which is projected to increase at a noticeable CAGR of 7.47% during the forecast period 2019-2025.
Quality Control Market Growth Drivers:
· Growing industrialization and colossal investment on quality analysis of consumer products due to stringent government rules will significantly propel the global quality control market growth.
· Increasing instances of food adulteration, adverse drug reaction, and counterfeit products will enable frequent quality checks thereby ballooning the quality control market demand and revenue income.
Quality Control Market Key Players:
The key leaders in the quality control market includes Formel D (Deutsche Beteiligungs AG), SGS Group, Trigo, Eurofins, TUV SUD, DNV GL Group, TUV Nord Group, Dekera SE, Exact Systems, Bureau Veritas SA, and many others.
SGS Group is one of the leading companies which provides expert inspection, verification, testing services to its customers for boosting the efficiency of any business activities.
Quality Control Market Trends:
· The invasion of cloud computing technologies has etched a mark in the quality control and management market with multiple boons such as cost-effectiveness, chat bots facilities which facilitates detailed customer feedbacks, and connected mobile device support. This helps the business owners to effectively produce quality products as well as reaches the peak of customer expectations.
· In collaboration with the hybrid and agile methodologies of project management in an industrial firm, quality control process is implemented with ease due to proper plans, guidance, and project tracking methods.
Quality Control Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Quality Control market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of Quality Control in Quality Control market, and their specific applications in different areas.
Quality Control Market: Industry Coverage:
Global quality control market is classified into different segments such as type, procedure, services offered, and industry vertical. On the basis of type the segmentation includes in-house and outsourced. Based on procedure categorization includes inspection and audit. By services offered the quality control market can be bifurcated into preventive QC, corrective QC, laboratory, and others. Sub segments under industry vertical includes automotive, consumer goods and retail, aerospace, and many others.
The Quality Control market also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
• North America: The U.S., Canada, Mexico
• South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
• Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark
• APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
• Middle East and Africa: Israel, South Africa, Saudi Arabia