The Global Market for Calibration Services is Projected to Reach US$7.4 Billion by 2022

Increasing Adoption of Metrology in Manufacturing Drives Demand for Calibration Services to Ensure Accuracy & Precision of Measuring Instruments, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, market size and demand forecasts on the global Calibration Services market. The global market for Calibration Services is projected to reach US$7.4 billion by 2022, driven by the growing awareness over the importance of calibrating industrial measuring equipment, and the important role they play in quality control and maintaining tolerances of manufacturing processes.    

Measuring instruments constitute a vital component of manufacturing companies, as they are essential for checking and measuring various production processes. It is imperative for companies to undertake regular checks of such instruments with traceable calibration equipment, so as to maintain the product’s quality. Calibration services are of enormous significance for testing and measurement devices, as these devices need to operate with the highest level of precision and accuracy. Calibration process, which involves comparison between instrument or unit of unknown value and an existing standard, is essential to reduce risk of failures in a product or process owing to inaccurate measurements. Calibration services are critical to verify the accuracy and precision of test equipment in providing measurement readings at various points, and also provide associated documentation. Companies are increasingly opting for calibration services, regardless of the prevailing economic environment, in order to improve productivity and quality, and to minimize wastage. Growth in the calibration services market is influenced by internal factors such as lab accreditation, service quality and personnel expertise, along with external factors such as general economic conditions and installed base of process instruments.

Driven by the increased focus on preventive maintenance against the backdrop of rising awareness about quality standards among customers, global calibration services market is recording steady growth. The adoption of stringent government regulations is additionally leading industry players to focus on ensuring accurate functioning of their testing and measurement devices. Calibration services are essential in end-industries such as power generation, aerospace & defense, communications, industrial, automotive, semiconductors, electronics manufacturing, water, and power generation, among others. Companies operating in these end-use industries are adopting calibration services in their production processes, as part of efforts to identify errors at the earliest and thus cut down downtime and increase output. The increasingly complex and challenging operating conditions and processes in most manufacturing and process industries offer favorable growth opportunities for the calibration services market. Also driving demand for calibration services is the growing focus on quality and standards compliance across various end-use industry verticals. Also, compliance with legislative mandates related to environment and health and standards such as ISO are encouraging end-use customers to incorporate calibration as a vital component of internal auditing and quality management.

As stated by the new market research report on Calibration Services, Europe represents the largest market worldwide. Asia-Pacific is poised to register the fastest CAGR of 10.4% over the analysis period, led by the expanding base of the region’s massive manufacturing industry, and the growing government focus on achieving the highest standards in quality of healthcare and the ensuing importance shed on calibrating health equipment and biomedical devices.

Major players covered in the report include ABB Ltd., Amphenol Advanced Sensors, Endress+Hauser AG, Fluke Corporation, Keysight Technologies Inc., Micro Precision Calibration Inc., Optical Test and Calibration Limited, Rohde & Schwarz GmbH & Co. KG, Siemens AG, SIMCO Electronics, Tektronix Inc., Tradinco Instruments B.V., Transcat Inc., and Trescal among others.

The research report titled “Calibration Services: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. Calibration services market is analyzed by the following end-use industry segments, Electronic Manufacturing, Communication, Aerospace & Defense, Industrial & Automotive and Others. The global market for Calibration Services is additionally analyzed by the following parameters of calibration - Mechanical Calibration Services, Electrical Calibration Services, Physical/Dimensional Calibration Services, and Thermodynamic Calibration Services.

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