Management System Certification Market
Management System Certification Market Study by Certification & Verification and Training & Business Assurance for Retail, Agriculture, Construction, Energy, Medical, and Others from 2024 to 2034
Analysis of Management System Certification Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Management System Certification Market Outlook (2024 to 2034)
The global management system certification market is expected to reach US$ 29 billion in 2024, as revealed in the updated research report by Fact.MR. Revenue from management system certification services is evaluated to increase at 4.8% CAGR and reach US$ 46.3 billion by 2034.
Quality goods assist businesses in increasing customer retention and satisfaction with reduced risks and expenses associated with product recalls. Businesses increase their product share and get a competitive edge with adherence to standards set for quality management certification services. In addition, the certifications issued by reliable and recognized organizations help these businesses increase their general efficiency and legitimacy.
A majority of companies connect with their clients through marketing and advertisement methods, thereby assuring them of product quality. Thereby, more individuals are opting for things which are verified and labeled, which is further helping branded businesses increase their profit share. Governments in various countries, such as the United States, India, the United Kingdom, China, and others promote the adoption of products and services that have management system certifications approved for safeguarding people’s safety and building trust.
Variations in regulatory needs across different locations are leading to tax rate disparities, which are resulting in additional expenses for businesses, such as hiring staff to handle tax-related issues. In addition, there are some dangers related to the quality and standardization of services supplied by firms, such as erratic functioning and product failure.
- North America is forecast to account for 24.6% of the global management system certification market share by the end of 2034.
- Revenue from management system certification services in Japan is expected to increase at a 6.2% CAGR from 2024 to 2034.
- Based on service, demand for certification & verification solutions is analyzed to accelerate at a CAGR of 4.1% and reach a market value of US$ 32.4 billion by 2034-end.
| Report Attribute | Detail |
|---|---|
| Management System Certification Market Size (2024E) | US$ 29 Billion |
| Forecasted Market Value (2034F) | US$ 46.3 Billion |
| Global Market Growth Rate (2024 to 2034) | 4.8% CAGR |
| Market Share of Product Certification Services (2034F) | 68% |
| South Korea Market Growth Rate (2024 to 2034) | 6.4% CAGR |
| East Asia Market Share (2034F) | 25.8% |
| Key Companies Profiled | SGS Group; DEKRA SE; Intertek Group Plc; Eurofins Scientific; Bureau Veritas; TUV Rheinland; Europfins Scientific; DNV GL; Holding Socotec; Drata Inc.; The British Standards Institutions. |
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Which Market Dynamics are Pushing Demand for Management System Certification Services?
“Increasing Demand for Transparency and Growing Consumer Awareness about Products”
There is an increase in awareness among consumers related to product safety, quality, and environmental impacts, which is generating demand for management system certifications. In recent years, consumers have been becoming cautious about the products they purchase and prefer companies that offer services according to set regulations and recognition.
Moreover, the majority of consumers are showing support to businesses that demonstrate a commitment to socially responsible and sustainable practices. Thereby, companies from various sectors, such as consumer goods, automotive, agriculture, and others, are giving preference to management system certifications to build trust, match consumer expectations, and enhance market competitiveness.
Why is Demand for Management System Certification Services Not Increasing Faster?
“Higher Cost of Obtaining and Maintaining Certifications”
Cost related to obtaining and maintaining certification is comparatively high. Getting a certificate includes initial expenses for documentation, assessment, and implementation along with ongoing costs for compliance maintenance and audits. SMEs (small & medium enterprises) generally face financial issues, which is limiting their ability to pursue required certifications. These financial constraints are adversely impacting management system certification market growth.
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What is the Contribution of Startups to the Expanding Management System Certification Market Size?
“Focus on Offering Digital Management System Certification Services”
Governments from some countries, such as the United States, Japan, China, South Korea, and others, are switching from physical platforms to digital ones for strengthen basic services and structures for the public. Startups are leveraging opportunities created with increased demand for remote audits, digital audits, recertification services, and online sampling. They are increasing their profit margins while offering the required services in the market.
Country-wise Insights
Fact.MR, a market research and competitive intelligence provider, mentions in its updated analysis that East Asia is analyzed to hold a 25.8% share of global market revenue by 2034-end. Increased demand for management system certification services in regional countries, such as China, Japan, and South Korea is attributed to the presence of some prominent manufacturers and OEMs of consumer goods, electronic products, and semiconductors.
Which Management System Certification Market Trends are Companies Capitalizing on in the United States?
“High Emphasis on Sustainability Certifications and Digitalization of Certification Processes”
| Attribute | United States |
|---|---|
| Market Value (2024E) | US$ 3.29 Billion |
| Growth Rate (2024 to 2034) | 4.7% CAGR |
| Projected Value (2034F) | US$ 5.2 Billion |
The United States is forecast to capture a 45.6% share of the North American market by the end of 2034. In recent years, there has been an increased focus on sustainability certifications due to the rising demand for eco-friendly practices and products. Digitalization of certification procedures is contributing to improved transparency and efficiency in products offered.
Why is China Looked as a High Potential Market for Service Providers?
“Expanding IT and Telecommunication Sectors in the Country”
| Attribute | China |
|---|---|
| Market Value (2024E) | US$ 3.26 Billion |
| Growth Rate (2024 to 2034) | 5.7% CAGR |
| Projected Value (2034F) | US$ 5.7 Billion |
China is estimated to hold a share of 47.5% of the market in East Asia by 2034. There is a growing requirement for management system certification services with a rising number of manufacturers constantly investing in developing next-generation devices and upgrading their old communication equipment. In addition, the rising popularity of wireless communication technologies is contributing to their increased adoption, which is generating demand for management system certification for demonstrating knowledge about these systems.
Why are Management System Certification Services Popular in Japan?
“Growing Emphasis on Management Systems Certifications for Facilitating Cross-border Transactions”
| Attribute | Japan |
|---|---|
| Market Value (2024E) | US$ 1.9 Billion |
| Growth Rate (2024 to 2034) | 6.2% CAGR |
| Projected Value (2034F) | US$ 3.5 Billion |
Japan is calculated to hold 29.4% of the East Asian market revenue share by 2034-end. There is a growing emphasis in the country to align management systems and products with international requirements and regulations to facilitate seamless cross-border tractions. Increasing consumer awareness is leading to a rising preference for certified products, focusing on sustainability, quality, and safety.
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Category-wise Insights
Fact.MR, in its updated report, asserts that increased demand for product certification services is owing to their assistance to manufacturers in offering authentic products. They also ensure the optimum quality of certified products.
Why are Product Certification Services Highly Sought After?
“Adherence to Product Certifications for Developing Optimum Quality and Authentic Products”
| Attribute | Product Certification |
|---|---|
| Segment Value (2024E) | US$ 20.3 Billion |
| Growth Rate (2024 to 2034) | 4.5% CAGR |
| Projected Value (2034F) | US$ 31.5 Billion |
Product certification services are expected to capture a share of 68% of global market revenue by 2034. A growing volume of certified products adheres to all manufacturing cycles. Increasing demand for management system certification services is due to the existing standards set for production procedures to ensure the development of optimum authentic and quality products.
Which Service Type is Gaining Widespread Popularity?
“Rising Preference for Certification & Verification Services”
| Attribute | Certification & Verification |
|---|---|
| Segment Value (2024E) | US$ 21.7 Billion |
| Growth Rate (2024 to 2034) | 4.1% CAGR |
| Projected Value (2034F) | US$ 32.4 Billion |
Certification & verification services are projected to occupy a 70% share of the global market by the end of 2034. Increased demand for certification & verification services is attributed to their assistance in ensuring quality, dependability, and product safety. Non-certified items are used for a limited time due to their low production cost and use of low-quality components, which fail quality and safety tests. Thereby, it is safe to use products fulfilling certification standards as they are put through rigorous testing to ensure safety requirements for users’ health.
Irrespective of size, multiple industries, such as electronics, aerospace, food & beverages, and agriculture are getting benefits from the use of management system certification services. For instance, seed certification entails verification of seed source, seed quality analysis, field inspections, seed treatments, and seed genetic purity evaluations.
Competitive Landscape
Key players in the management system certification industry are incorporating various initiatives, for instance, collaborations, new product launches, and partnerships to increase their profit share.
For instance :
- In December 2020, RGIPL was purchased by SGS. RGIPL is a provider of geoengineering solutions for the infrastructure and construction industry based in Singapore. Soil research, geotechnical engineering, and instrumentation and monitoring are some of the solutions offered by the company. SGS delivers safety, compliance, and quality services with the assistance of RGIPL for construction and infrastructure projects.
- In December 2020, Bureau Veritas came up with a wide range of services for EVCS (electric vehicle charging stations), encompassing a complete lifestyle. These services are used in design, construction, and commission operations.
Fact.MR provides detailed information about the price points of key providers of management system certifications positioned across the world, sales growth, production capacity, and speculative technological expansion, in the recently updated market report.
Segmentation of Management System Certification Market Research
-
By Certification Type :
- Product Certification
- System Certification
-
By Service :
- Certification & Verification
- Training & Business Assurance
-
By Application :
- Consumer Goods & Retail
- Agriculture & Food
- Construction & Infrastructure
- Energy & Power
- Industrial & Manufacturing
- Medical & Life Sciences
- Oil & Gas and Petroleum
- Automotive
- Aerospace
- Marine
- IT & Telecom
-
By Region :
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia & Pacific
- MEA
- FAQs -
What is the size of the management system certification market in 2024?
The global management system certification market is valued at US$ 29 billion in 2024.
What is the projected demand for management system certification services by 2034?
Global demand for management system certification services is forecasted to reach a value of US$ 46.3 billion by 2034.
At what rate is the global market projected to expand?
The market for management system certification services is analyzed to advance at 4.8% CAGR from 2024 to 2034.
How much share of global market revenue is East Asia projected to occupy?
East Asia is forecasted to hold 25.8% share of the global market by 2034.
At what CAGR is the market analyzed to accelerate in South Korea?
The South Korean market is approximated to expand at a CAGR of 6.4% through 2034.
What is the market scenario for product certification services?
Revenue from product certification services is calculated to increase at 4.5% CAGR and reach US$ 31.5 billion by 2034.
Who are the leading players operating in the market?
Key companies include SGS Group, DEKRA SE, Intertek Group Plc., Eurofins Scientific, and Bureau Veritas.
Management System Certification Market