Sector & Segment, a research agency, tracks investments in quality standards by monitoring expenditure by companies on technical accreditations. In this report, they examined investment trends in ISO/IEC 17020 accreditation across Latin America, to evaluate policies enforcing quality and their impact on different industries and sectors.
Investments in ISO 17020 inspection accreditations have grown significantly in the past 5-6 years. Their research finds that the investment in accreditation has increased from $52 million to $69 million between 2013 and 2017. Despite challenging political and economic conditions in some economies in Latin America, companies have been pushed to invest in accreditation as a way of increasing competitiveness and complying with domestic regulations.