Global Calibration Services Markets, 2021-2022 && 2027 Industry Trends, Growth, Opportunities and Forecasts - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 28, 2022--
The “Calibration Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The global calibration services market size reached US$ 5.3 Billion in 2021. Looking forward, the market is set to reach US$ 7.3 Billion by 2027, exhibiting a CAGR of 5.48% during 2021-2027
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Calibration services refer to the measurement of deviations and inaccuracies in mechanical equipment. The calibration process involves comparing the readings of one device to other equipment that has been previously calibrated. It is conducted at regular intervals for identifying potential faults in an instrument at the earliest and ensuring optimal performance to minimize downtime and increase output.
Apart from this, service providers offer on-site calibration, rapid turnaround, calibration documentation, pickup and delivery, online documentation and in-house contract lab services. As a result, it finds extensive applications across various industries, such as aerospace, defense, automotive, communication and electronics.
Rapid industrialization, along with the increasing requirement for testing and measuring devices, is one of the key factors driving the growth of the market. Furthermore, rising awareness among the masses regarding protective and quality maintenance of instruments and machinery is stimulating the market growth.
In line with this, calibration services are often used by organizations for in-house standardization of equipment and by original equipment manufacturers (OEM) to ensure the efficiency of their products. Various third-party calibration providers have also emerged for outsourced services, which, in turn, is contributing to the market growth.
Various technological advancements, such as improvements in the 3D printing technology and the availability of tissue-mimicking 3D phantoms, are acting as other growth-inducing factors. These improved services are used for electrical, mechanical, thermodynamic and physical calibration of aerospace, defense, electronics, automotive and medical devices or components.
Other factors, including extensive research and development (R&D) activities, are anticipated to drive the market further.
Key Questions Answered in This Report:
- How has the global calibration services market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global calibration services market?
- What are the key regional markets?
- What is the breakup of the market based on the service type?
- What is the breakup of the market based on the calibration type?
- What is the breakup of the market based on the end use industry?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global calibration services market and who are the key players?
- What is the degree of competition in the industry?
The report has also analysed the competitive landscape of the market with some of the key players being
- ABB Ltd.
- Agilent Technologies Inc.
- Endress+Hauser AG
- Keysight Technologies Inc.
- Micro Precision Calibration Inc.
- Optical Test and Calibration Ltd.
- Rohde & Schwarz GmbH & Co KG
- Siemens Aktiengesellschaft
- Simco Electronics
- Sulzer AG
- Tradinco Instruments
- Transcat Inc.
- Trescal Holdings Inc.
Key Market Segmentation:
Breakup by Service Type:
- Third-Party Service
Breakup by Calibration Type:
Breakup by End Use Industry:
- Electronics Manufacturing
- Aerospace and Defense
Breakup by Region:
- North America
- United States
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/n1ko06
View source version on businesswire.com:https://www.businesswire.com/news/home/20221228005242/en/
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SOURCE: Research and Markets
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PUB: 12/28/2022 08:20 AM/DISC: 12/28/2022 08:21 AM