The management system certification global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Management System Certification Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The management system certification market size has grown strongly in recent years. It will grow from $29 billion in 2023 to $30.7 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to increasing focus on quality management regulatory requirements for certification, demand for improved environmental performance, emphasis on occupational health and safety and growing complexity of supply chains.
The management system certification market size is expected to see strong growth in the next few years. It will grow to $38.83 billion in 2028 at a compound annual growth rate (CAGR) of 6%. The growth in the forecast period can be attributed to need for enhanced information security, increasing globalization of businesses, rising consumer awareness and demand for sustainable products, pressure from stakeholders for certification, competitive advantage through certification. Major trends in the forecast period include AI and automation integration, blockchain for transparency and traceability, and remote and virtual auditing, increasing use of digital tools and technologies, integration of management systems, increased adoption of remote audit technologies.
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Scope Of Management System Certification Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Management System Certification Market Overview
Market Drivers –
The increasing frequency of data breaches is expected to propel the growth of the management system certification market going forward. Data breaches involve unauthorized access to private or sensitive data such as financial records, intellectual property, or personal information. Data breaches are increasing due to the evolving tactics of cybercriminals and the vulnerabilities introduced by remote work environments. Management system certification can significantly enhance an organization’s ability to prevent and mitigate data breaches by establishing a robust framework for managing information security risks and implementing adequate security controls. For instance, in November 2023, according to the Identity Resource Theft Center, a US-based non-profit organization, there were 2,116 data breaches, breaking the previous record of 1,862 breaches for the full year 2021. Therefore, the increasing frequency of data breaches is driving the growth of the management system certification market.
Market Trends –
Major companies operating in the management system certification market are integrating artificial intelligence techniques to gain a competitive edge. Artificial intelligence can analyze large volumes of data from various sources to identify trends, patterns, and anomalies. This analysis can help certification bodies and organizations streamline their certification processes, identify areas for improvement, and make data-driven decisions. For instance, in January 2024, BSI, a UK-based business solutions company, supported responsible AI management with a new package of measures to empower organizations to integrate AI safely. This initiative includes certification to an innovative management system designed to enable the safe, secure, and responsible use of Artificial Intelligence (AI) across society. The scheme, aligned with the recently published international management system standard for AI (BS ISO/IEC 42001), assists organizations in responsibly using AI by addressing considerations like non-transparent automatic decision-making, the utilization of machine learning, and continuous learning.
The management system certification market covered in this report is segmented –
1) By Certification Type: Product Certification, Management System Certification
2) By Service Type: Certification And Verification, Training And Business Assurance
3) By Application: Quality Management Systems, Occupational Health And Safety, Information Security And Information Technology (IT), Cyber Security, Food And Safety, Environmental Management, Other Applications
4) By Vertical: Consumer Goods And Retail, Agriculture And Food, Chemicals, Construction And Infrastructure, Energy And Power, Industrial And Manufacturing, Mining , Oil And Gas And Petroleum, Public, Other Verticals
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Regional Insights –
Asia-Pacific was the largest region in the management system certification market in 2023. The regions covered in the management system certification market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the management system certification market report are SGS SA; Bureau Veritas Group; Eurofins Scientific Group; DEKRA Group; Intertek Group; TÜV SÜD Group; TÜV Rheinland Group; Underwriters Laboratories Group; DNV GL Group; Technischer Überwachungsverein Nord Group; Lloyd’s Register Group; SOCOTEC Certification Group; British Standards Institution Group; Kiwa Group; SAI Global Group; NSF International Group; APCER Group; DQS Inc.; National Quality Assurance Group; ABS Quality Evaluations Group; International Association of Plumbing and Mechanical Officials Group; Quality Austria Group; Global Compliance Certification Group; QMS International Group
Table of Contents
1. Executive Summary
2. Management System Certification Market Report Structure
3. Management System Certification Market Trends And Strategies
4. Management System Certification Market – Macro Economic Scenario
5. Management System Certification Market Size And Growth
…..
27. Management System Certification Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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