0

U.S. Consumer Product Safety Testing Market Expected to Reach $10,546.4 Million By 2030

 
2022
U.S. Consumer Product Safety Testing Market

Report Code : A16315

quote The U.S. consumer product safety testing market share is expected to witness considerable growth, owing to increase in demand for safety testing, especially in food and beverages, due to stringent government regulations to ensure consumer safety is driving the U.S. consumer product safety testing market growth. quote

Divyanshi Tiwari
Lead Analyst, Semiconductor and Electronics

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new report published by Allied Market Research, titled, “U.S. Consumer Product Safety Testing Market By Offering, Sourcing Type and Industry Vertical: Opportunity Analysis and Industry Forecast, 2021–2030,” the U.S. consumer product safety testing market size was valued at $7,453.5 million in 2020, and is projected to reach $10,546.4 million by 2030, registering a CAGR of 3.6%”.

The key factor that drives the growth of the U.S. consumer product safety testing industry include increasing focus of manufacturing companies to improve customer retention by offering quality products and surging demand for interoperability testing for connected devices and IoT. The key factor that affects the U.S. consumer product safety testing market size is high cost of product safety testing services, due to diverse standards and regulations across different regions. The opportunity lies in the digital transformation of customer services and rapid adoption of breakthrough technologies. Such U.S. consumer product safety testing market trends are expected to boost the market in the future.

According to the current U.S. consumer product safety testing market trends, the most widely used testing services are consumer product safety commission (CPSC) third party testing and consumer product safety improvement act (CPSIA) compliance testing. The demand for these services is expected to grow steadily in the forecasted period.

By offering, the U.S. consumer product safety testing market is divided into electromagnetic compatibility, electrical safety, connectivity, electronics testing, energy efficiency testing and others. The electronics testing segment was the highest revenue contributor, accounting for $1,822.4 million in 2020, and is estimated to reach $2,050.2 million by 2030, with a CAGR of 1.2%. This is due to rapid technological advancement and adoption of smart wireless devices.

By sourcing type, the U.S. consumer product safety testing market is bifurcated into in-house, and outsource. The in-house testing administrations give organizations unlimited authority over the whole testing procedure and thus, it is widely adopted across the U.S. The in-house segment was the highest revenue contributor, accounting for $4,147.2 million in 2020, and is estimated to reach $5,284.8 million by 2030, with a CAGR of 2.5%. By industry vertical, the market is analyzed across communications, semiconductors, aerospace and defense, consumer electronics, automotive healthcare, industrial, food and beverages and other. The food and beverages segment was the highest revenue contributor, accounting for $1,511.6 million in 2020, and is estimated to reach $2,051.3 million by 2030, with a CAGR of 3.2%. This is due to stringent regulations imposed by regulatory bodies on the manufacturers to ensure consumer safety as well as quality of food.

COVID-19 has caused the overall semiconductor industry to mobilize quickly and to make short-term decisions with long-term implications. Semiconductor companies operate in a complex ecosystem, working across the value chain with numerous raw materials, assembly, test, package, and equipment suppliers & partners, globally. The ongoing COVID-19 pandemic has abruptly re-shaped the global economy. Sudden decline in infrastructure development and installation projects is expected to hamper the cables market for commercial, government, industrial, residential, and more verticals.

Key Findings of the Study

  • In 2020, the electronics testing modem segment accounted for maximum revenue, and is projected to grow at a notable CAGR of 1.2% during the forecast period.
  • The in-house segment is projected to growth at a CAGR of 2.5% during the forecast period.
  • The food and beverages segment is projected to growth at a CAGR of 3.2% during the forecast period.

The key players profiled in the report includeABS, ALS Limited, BSI Group, Bureau Veritas SA, DEKRA, DNV, Element Materials Technology, Intertek Group PLC, ISO and TUV. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition, to expand their foothold in the market.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
 
 

First time buyer?
Check offers and discount on this report
To get this report

Click Here
 
 

quote U.S. Consumer Product Safety Testing Market By Offering (Electromagnetic Compatibility, Electrical Safety, Connectivity, Electronics Testing, Energy Efficiency Testing and Others), Sourcing Type (In-House, and Outsource), and Industry Vertical (Communications, Semiconductors, Aerospace & Defense, Consumer Electronics, Automotive Healthcare, Industrial, Food & Beverages and Others): Opportunity Analysis and Industry Forecast, 2021–2030 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

WHY ALLIED MARKET RESEARCH?

INFLALLIBLE METHODOLOGY

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

ANALYST SUPPORT

For complete satisfaction

CUSTOMIZATION

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
rep-img

Published Date Mar 2024

Hairbrush Market

Download Sample
rep-img

Published Date Mar 2024

Debt Security Market

Download Sample
rep-img

Published Date Mar 2024

Wood Adhesives Market

Download Sample

Buy Full Version
"U.S. Consumer Product Safety Testing Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers