Pre-shipment Inspection: Introduction
- Pre-shipment inspection is a systematic inspection where the sample of a product manufactured is chosen randomly and quality tested before being transported.
- Pre-shipment inspection can be carried out any time before the products are dispatched; generally, it is conducted when 80% of the production is done, which reduces the risk of receiving poor quality goods.
- Rising consumer spending, ongoing rapid urbanization in emerging markets, and growing global counterfeiting and piracy activities are the major driving factors of the global pre-shipment inspection market.
Rise in Demand from Consumer Goods and Retail Segment
- The consumer goods and retail segment is expected to be the fastest growing segment of the global pre-shipment inspection market during the forecast period.
- Consumer goods and retail market customers are more demanding and less predictable than ever before. Therefore, superior consumer understanding and thought leadership play an important role in engaging the customers, which propels the demand for pre-shipment inspection.
- Moreover, consumer goods and retail manufacturers are required to ensure the products have met the quality, technical, safety, and performance regulatory standards to increase the marketability of their products and services. These factors increase the adoption of pre-shipment inspection services worldwide.
- However, the long lead time for overseas qualification tests is the major factor that is likely to hinder the growth of the global pre-shipment inspection market during the forecast period.
Asia Pacific to Lead the Pre-shipment Inspection Market
- In terms of region, the global pre-shipment inspection market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- Asia Pacific is anticipated to dominate the global pre-shipment inspection market throughout the forecast period due to rapidly growing export capacity, and high adoption of automation solutions in inspection service.
- Moreover, major industries such as consumer electronics, processed foods, and agriculture in advanced countries of the region such as China, Japan, South Korea, and Taiwan, generate significant demand for pre-shipment inspection services, which would help them to adhere to international standards.
- The pre-shipment inspection market in Europe is expected to expand at a substantial rate during the forecast period since a large number of manufactures such as SGS (Switzerland), Bureau Veritas (France), Intertek Group plc. (UK), DEKRA (Germany), and TÜV SÜD (Germany) operate in the region
- On the other hand, the pre-shipment inspection market in North America, Middle East & Africa, and South America is estimated to expand at a moderate pace during the forecast period.
Key Players Operating in the Global Pre-shipment Inspection Market
Key players operating in the global market are focusing on technological advancements and expansion to meet the rising demand for pre-shipment inspections. Moreover, market players are emphasizing on strategic initiatives to enhance business and establish their manufacturing facilities.
Key players operating in the global pre-shipment inspection market include:
- Bureau Veritas
- Intertek Group plc.
- TÜV SÜD
- AIM CONTROL GROUP
- HQTS CO. LTD.
- GUANGDONG INSPECTION
- COTECNA S.A.
Global Pre-shipment Inspection Market: Research Scope
Global Pre-shipment Inspection Market, by Sourcing Type
Global Pre-shipment Inspection Market, by EXIM
- Export Goods
- Import Goods
Global Pre-shipment Inspection Market, by Applications
- Consumer Goods and Retail
- Agriculture and Food
- Industrial and Manufacturing
- Medical and Life Sciences
- Oil & Gas and Petroleum
- Supply Chain and Logistics
Global Pre-shipment Inspection Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.