Quality Control Market Reaping Profits in Automotive and Public Infrastructure

Posted by industryarc on August 9th, 2019

Organizations around the world are integrating newer and more consistent workflow processes to ensure reliability and reduce ad-hoc work practices. This shift is increasing the demand for quality control management services across different departments, positions, and processes in organizations. The quality control market is innovating and expanding to encompass the entire value chain. Right from finance to warehousing, no task is being exempted from quality control management. A market intelligence report by IndustryARC evaluated that the global quality control market offered opportunities worth .89 billion in 2018. The demand is projected to rise at a CAGR of 6.18% during the forecast period 2019 to 2025.

The IndustryARC report titled, “Quality Control Market: By Type (In-House, & Outsourced); By Procedure (Inspection and Audit); By Services Offered (Preventive QC, Corrective QC, Laboratory, and Others) By Industry Vertical (Automotive, Consumer goods and Retail, Aerospace & Others) & By Geography - Forecast (2019-2025),” incorporates an in-depth assessment of the competitive landscape, market drivers, end user industries, production life cycle, market trends, mergers and acquisitions, market life cycle analysis, market entropy, financial analysis, supply and demand analysis, and strategic analysis of the global quality control market.

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Quality Control Market: Leading Segments

Aligned with an organization’s ideas, the quality control market enables continuous improvements in product design, and thus, higher profits, for every industry. In the automotive segment, quality control management provides customer-centric solutions, employee empowerment, healthy stakeholder relationships, and manages benchmarks for suppliers, with the aid of industry-specific tools and techniques. Consequently, the demand for quality control in the automotive and public infrastructure industries is projected to grow at a CAGR of 7.47% over the forecast period.

European countries, especially Germany, have defined high standards of quality management for products and services. Most German goods maintain standards set by the International Standards Organization (ISO), with utilization of quality control techniques such as six sigma, which gives them an edge over products from other nations. Europe accounted for 31.18% share of the global quality control market in 2018.

Quality Control Market: Trends

· Automation and Digitization enhance outcomes of quality control such as by providing better quality audits, reducing manual errors, allowing for quicker identification of problems, and offering faster resolutions to problems.

· Businesses, both big and small, are leveraging the benefits of cloud-computing. The latest trend in the quality control market uses cloud-based data to enhance both employee and customer experience by providing chat and voice support through bots, and support for mobile devices across different platforms. These quality control techniques not only enhance the customer’s experience, but also improve workflows.

· Both product manufacturing and service companies are collaborating on quality control techniques, along with project management, to ensure higher levels of transparency and better quality of outcomes for an organization.

Quality Control Market: Competitive Landscape

SGS Group, Bureau Veritas SA , Dekera SE, Formel D (Deutsche Beteiligungs AG), Trigo, Eurofins, TUV SUD, DNV GL Group, TUV Nord Group, and Exact Systems are a few key players operating in the global quality control market.

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About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.