Portland, OR, Aug. 17, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global consumer product safety testing market generated $33.05 billion in 2021 and is estimated to hit $60.50 billion by 2031, registering a CAGR of 6.32% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $33.05 billion |
| Market Size in 2031 | $60.50 billion |
| CAGR | 6.32% |
| No. of Pages in Report | 419 |
| Segments covered | Offering, Sourcing, Industry Vertical and Region |
| Drivers | Increase in focus of manufacturing companies to improve customer retention by offering quality products |
| Surge in adoption of next generation safety and security solutions | |
| Rise in demand for interoperability testing for connected devices and IoT | |
| Opportunities | Digital transformation of customer services |
| Rapid adoption of breakthrough technologies | |
| Restraints | High cost of such services due to diverse standards and regulations across… |
