The University of Technology Sydney launched its findings on the National Association of Testing Authorities on Tuesday, revealing it delivers up to $712 million in value each year.
The figure is almost double its estimated contribution in 2018, with much of the sum generated by the price premium businesses can charge if they meet testing standards.
The organisation is Australia's national accreditation body, overseeing more than 4400 facilities and testing more than 3400 products in a wide variety of fields.
To analyse its economic contribution, university researchers surveyed 165 member organisations and 181 technical assessors, and created economic modelling based on its outcomes.
The report, called Beyond Compliance, found the association contributed between $488 million and $712 million in economic value each year, up from an estimate of $315 million to $421 million in 2018.
Its greatest impact was in helping organisations enter new markets with accredited products, which generated up to $182 million a year, followed by delivering a price premium of up to $62 million a year.
The large figures were surprising, National Association of Testing Authorities chief executive Jennifer Evans said, but underpinned how important it was for Australians to have confidence in the quality of everything from food to superstructures.
While the organisation's work was often invisible, she said, it was vital to keeping consumers safe and businesses profitable.
"We expect that the food we eat is safe, we expect that pathology results are correct, we expect that the drinking water is safe, that we don't get electrocuted when we plug in our toasters in the morning," she told AAP.
"We expect that but we don't really think about how that comes about."
The national accreditation system would become more valuable over time, Ms Evans said, as the company tested more product promises and more facilities to ensure standards were met.
"Accreditation has a huge role to play in ensuring that if a claim is made, let's say, about sustainability, about greenhouse gas emissions, that those claims can be backed up with credible results," she said.
"Accreditation is only going to become more important as we go forward."
The UTS report will be launched at the Accreditation Matters conference in Melbourne on Tuesday.
