Our strategy will enable us to capitalize on our existing strengths and further transform to capture opportunities in promising markets.
Our testing, inspection and certification industry is rapidly changing. Previously dominated by regulatory compliance, it is driven today by megatrends that are changing society as a whole. Against this backdrop, Bureau Veritas is in a unique position to capture market opportunities, by leveraging our geographical reach, recognized expertise and strong brand.
Our strategy to expand up to 2020 and beyond aims to make a positive impact on society by addressing megatrends shaping the world:
- Growing population and a burgeoning middle class in emerging economies means more pressure on natural resources and the need to guarantee the quality of products from raw materials through to manufacturing to respond to consumers’ requirements.
- Galloping urbanization and the rise of megacities requires safer, cleaner and climate resilient building and infrastructure, and increased mobility of people and goods in and between cities.
- Energy transition and rising global energy demand: climate change, rapid urbanization and population growth have a direct impact on the energy sector, boosting demand and increasing the need for efficiency and diversification.
- More complex technologies and massive digitalization: while we are starting to see the powerful impact of the Internet of Things (IoT) and artificial intelligence, we are still very much at the beginning of the transformational journey.
Our 5 strategic pillars
We built our strategy around 5 pillars to capitalize on our strengths and further transform the Group:
- Expanding our market coverage, through five key growth initiatives (see below);
- Becoming the partner of choice for major international corporations, by providing more integrated and global solutions;
- Increasing our own productivity and agility, by improving the way we operate;
- Balancing our global footprint across three geographic areas (Europe/Middle East/Africa, Americas and Asia Pacific);
- Continuing to play a leading role in the consolidation of the TIC sector, by acquiring companies in key markets and geographies to enlarge our global footprint, build our share of specific markets and broaden our expertise.
To implement our strategy, we rely on strong transformation levers: Operational Excellence, Key Accounts management, Digital and Human Resources development.
Our 5 Growth Initiatives
To address the major global trends shaping society over the next few years, we are focusing on five Growth Initiatives:
- Building and Infrastructure
- Opex services (Oil & Gas, Power & Utilities, Chemicals)
These initiatives will reinforce our offering in key markets and increase our presence in sectors linked to consumer needs.
Our 2 priority countries
China and the United States being the world’s largest markets for TIC services, we are focusing our geographical expansion in these two key countries. The United States is an economic powerhouse and our business there has increased rapidly in recent years. We are also developing our presence in China, with its buoyant demand for infrastructure, transportation and energy.
Since we launched our Strategic Plan in 2015, we have acquired 21 companies.
As we move forward, our vision of our future is clear. By continuing to develop the scope and geographic spread of our services, we can create more value for our clients. And by achieving that, our business contributes to the world’s long-term sustainable future.
As we move forward, our vision of our future is clear. By continuing to develop the scope and geographic spread of our services, we can create more value for our clients.