Certification is the formal attestation or confirmation of certain characteristics of an object, person, or organization. This confirmation is often, but not always, provided by some form of external review, education, assessment, or audit. Accreditation is a specific organization's process of certification. According to the U.S. National Council on Measurement in Education, a certification test is a credentialing test used to determine whether individuals are knowledgeable enough in a given occupational area to be labeled "competent to practice" in that area. In first-party certification, an individual or organization providing the good or service offers assurance that it meets certain claims. In second-party certification, an association to which the individual or organization belongs provides the assurance. Third-party certification involves an independent assessment declaring that specified requirements pertaining to a product, person, process, or management system have been met.
According to the new market research report “Global Certification Market Report 2023-2029”, published by QYResearch, the global Certification market size is projected to reach USD 71.64 billion by 2029, at a CAGR of 5.4% during the forecast period.
Figure. Global Certification Market Size (US$ Million), 2018-2029
Figure. Global Certification Top 15 Players Ranking and Market Share (Ranking is based on the revenue of 2022, continually updated)
The global key manufacturers of Certification include SGS, TUV SUD, UL, Applus, Bureau Veritas, Intertek, TÜV Rheinland, TUV NORD, DNV, Eurofins Scientific, etc. In 2022, the global top five players had a share approximately 11.0% in terms of revenue.
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