Global ISO certification market to witness significant change in the coming years
The market study on ISO certificates provides an analysis of the global ISO certification market for the period of 2016-2025, wherein, 2016 is the base year and 2017 to 2025 is the forecast period. The study covers all the prevalent trends and products playing a major role in the growth of the market over the forecast period. It also highlights various restraints, trends and opportunities expected to influence the growth of the market during the forecast period. The market is segmented on the basis of certification, industry, and region.
The market size is estimated considering several factors such as certification costs, consulting costs, auditing costs and lead auditor training fees. Also, the renewal cycle of each certification, year on year newly registered ISO certification and re-certification deadline for newly launched versions like ISO 9001:2015 and ISO 14001:2015. In this report, the CAGR is negative for quality management system ISO 9001:2015 and information security management system ISO 27001:2013 certification. This is because of huge volume of re-certification from the ISO 9001:2008 version to the ISO 9001:2015 version and the 14001:2004 to ISO 14001:2015 version. ISO 9001 and ISO 14001 had higher adoption, and hold more than 90% of the market share during 2017-2018. This is mainly due to the huge volume of re-certification during the period 2017-2018. Because of this factor, the CAGR is negative for ISO 9001 and 14001 certifications, which is reflecting across all regions and industries. The global ISO certification market is valued at a market estimation of about US$ 11.8 Bn in 2017.
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Others segment to lead the global market
Other segment in the industry category is expected to show high market value by the end of the 2025 as compared to other segments in the industry category. This segment is estimated to reach a valuation of more than US$ 1.5 Bn. In 2017, this segment reflected a value of US$ 6.4 Bn which is higher than other segments. This trend is likely to continue over the forecasted period.
The construction segment in the industry category is estimated to be the second largest in terms of market value. This segment, in 2017, generated revenue of more than US$ 1.4 Bn. By 2025, this segment is expected to show a value of around US$ 355 Mn, growing at a negative CAGR throughout the period of forecast, 2017-2025. The metallurgy segment is expected to show a value of about US$ 265 Mn and is valued at around US$ 950 Mn in 2017.
Regional analysis of the industry category
In North America, the others segment by industry reflected a value of about US$ 157 Mn in 2017. The others region in this category is likely to lead the other segments by industry type. In Europe, the construction segment is the second largest in terms of market share and value. Asia Pacific region also shares the same standing of the other industry type segment. In Asia Pacific, the construction segment is the second largest followed by the metallurgy segment.