Environment Testing, Inspection, and Certification to Register Healthy Growth on Back of Stringent Environment-Protection Regulations Globally
Valley Cottage, NY, November 30, 2017 (Newswire.com) - Protection of the environment from pollutants introduced through air, water, and soil has been one of the topmost priorities of governments across the globe that are finding it difficult to find a balance between industrialization, which serves well for economic growth, and the consecutive rise in pollution, which deteriorates the environment. To ensure that industrialization and after-effects in terms of increased waste and pollutants do not pose a significant threat to the environment, several countries have put in place strict regulations that all businesses and industries are required to adhere to. This has led to the significant rise in demand for undertaking environment testing, inspection, and certification activities of business processes and operations across a number of industries.
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Need to Comply to Strict Environment Protection Regulations Compel Adoption of Environment Testing, Inspection, and Certification Activities
As business become more aware about the need to meet regulatory obligations by minimizing their impact on the environment to save themselves from the lash of legislations and regulatory bodies, the demand for environmental testing, inspection, and certification services is rising at a promising pace. With rise in the number of stringent regulations and monitoring bodies, the importance of environmental testing, inspection, and certification services in all industries irrespective of their area of activity is rising. As a result, the global market for these services is expected to expand at a promising pace in the next few years.
In a recent report, Future Market Insights states that the global environment testing, inspection, and certification market will exhibit a promising 6.2% CAGR from 2017 to 2026. If the numbers hold true, the market could rise to a revenue opportunity of US$23,000 mn by the end of 2026.
Service Outsourcing to become Definite Source of Income for Companies
The market is expected to witness a significant rise in demand from large organizations across the globe, which do not have internal teams for undertaking environment testing, inspection and certification activities and services. Outsourcing such activities is done for reducing in-house costs and passing on the responsibility of complex compliance matters to experts. The range of outsourced environmental testing, inspection and certification activities is expected to emerge as a key driver for companies operating in the global environmental testing, inspection and services market in the next few years.
Waste Samples to be More Preferred for Environment Testing, Inspection, and Certification Activities
In terms of the samples used for quality checks, including water, air, soil, building material, fuel, and waste, the segment of water testing is presently the dominant and most promising one. The segment accounted for over US$600 mn of the entire market in 2017 and is expected to exhibit a expansion at a promising pace as several labs prefer water samples for more expansive testing of an environment. In the next few years, however, the segment of waste testing will emerge as the more promising segment, exhibiting higher CAGR than other segments from 2017 to 2026.
Research Report Reference: https://www.futuremarketinsights.com/reports/environment-testing-inspection-and-certification-market
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Source: Future Market Insights