Global Management System Certification Market Report 2024: Trends, Strategies, And Opportunities

The Business Research Company has updated all its market reports with the latest information for the year 2024, projecting trends and forecasts until 2033

LONDON, GREATER LONDON, UK, June 21, 2024 /EINPresswire.com/ -- The management system certification process, involving third-party validation of compliance with specific standards, is pivotal for organizations aiming to enhance efficiency, meet regulatory requirements, and achieve sustained business success.

Strong Growth Projected in Market Size
The management system certification market is expected to grow from $29 billion in 2023 to $30.7 billion in 2024, demonstrating a CAGR of 5.9%. This growth is attributed to increasing regulatory demands for quality management, environmental performance improvements, and heightened emphasis on occupational health and safety.

Robust Growth Outlook
Anticipated growth continues robustly, with the market projected to reach $38.83 billion by 2028, growing at a CAGR of 6%. Key drivers include the need for enhanced information security, globalization of businesses, rising consumer demand for sustainable products, stakeholder pressure for certification, and competitive advantage through certification.

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Rise in Data Breaches Fuels Market Expansion
The management system certification market is further propelled by increasing instances of data breaches, which threaten organizational security and integrity. Certification frameworks bolster organizations' ability to mitigate risks and enhance data security protocols. For example, in 2023, there were 2,116 reported data breaches in the US alone, highlighting the critical need for robust management system certifications.

Key Players and Technological Innovations
Leading companies such as SGS SA, Bureau Veritas Group, and Eurofins Scientific Group are leveraging artificial intelligence (AI) to innovate and maintain competitive advantage. AI integration enables comprehensive data analysis, aiding in streamlining certification processes, identifying areas for improvement, and supporting informed decision-making. For instance, BSI introduced a new management system standard for AI, ensuring responsible AI implementation across organizations.

Segments:
• Certification Type: Product Certification, Management System Certification
• Service Type: Certification And Verification, Training And Business Assurance
• Application: Quality Management Systems, Occupational Health And Safety, Information Security And IT, Cyber Security, Food Safety, Environmental Management, Other Applications
• Vertical: Consumer Goods And Retail, Agriculture And Food, Chemicals, Construction And Infrastructure, Energy And Power, Industrial And Manufacturing, Mining, Oil And Gas, Public Sector, Other Verticals

Geographical Insights: Asia-Pacific Leads, Growth Across Regions
Asia-Pacific emerged as the largest region in the management system certification market in 2023, with significant growth anticipated. The report provides detailed insights into regional dynamics, market trends, and growth opportunities.

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Management System Certification Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Management System Certification Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on management system certification market size, management system certification market drivers and trends, management system certification market major players, competitors' revenues, market positioning, and market growth across geographies. The management system certification market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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