Emphasis on Smart Factory & the Ensuing Focus on Well Calibrated Automated Production Drives Demand for Calibration Services

Global Calibration Services market is projected to reach US$8.8 billion by 2024, driven by the rising significance of periodic calibrations of industrial measuring equipment in ensuring quality control and maintaining tolerances of manufacturing processes especially in the current era of smart manufacturing.

Calibration is the process of comparing a reading on one instrument with another instrument that has been calibration and referenced to a set of known parameters. Calibration process is aimed at eliminating or minimizing uncertainties by ensuring that test instruments give accurate results. Calibration hence not only quantifies errors or uncertainties but also ensures control over them during the measurement processes to maintain them within an acceptable level. Majority of the large manufacturers undertake periodic calibration services to ensure that all instrumentation and equipment are working precisely, as per manufacturer's specifications. Though some calibration tasks may be performed in-house using standard calibrators, majority of the large-to-medium scale firms that consider quality as a high priority prefer services of an independent calibration/metrology lab.

Over the years, calibration has come to play a critical role in improving productivity, reducing replacement costs, enhancing profitability and providing a competitive edge to players. Global market for calibration services continues to record stable growth, driven by the growing need for businesses to improve efficiency and effectiveness of operations by reducing equipment downtime. Periodic inspections and testing of equipment and systems to ensure their conformity to standard performance levels are driving companies to opt for regular calibration services. Growing importance of preventive maintenance and increasing appreciation of its long-term cost savings and benefits will further step up demand for calibration services. The adoption of stringent government regulations is also necessitating industry players to ensure accurate functioning of their testing and measurement devices, thus driving growth in the calibration services market.

Driven by the sheer diversity of application areas for calibration services, global calibration services market is recording stable growth. Calibration services are imperative in end-industries such as power generation, aerospace & defense, communication, industrial, automotive, semiconductors, electronics manufacturing, water, and power generation, among others. The increasing complexity of manufacturing activities over the years is also raising demand for testing. The increased attention being given to detailing in the design stage is also leading to higher demand for accurate and complex instruments, thus enhancing demand for calibration services. The increased focus on automation is also favoring calibration services market, since automation has the potential to cut down the time needed to carry out calibrations and also improve overall quality of services. With the use of modular instruments on the rise in various industries, there is increasing scope for calibration and repair services to be performed at regular intervals due to the high risk of failures in these sectors.

As stated by the new market research report on Calibration Services, Europe represents the largest regional market, worldwide. The rising demand for onsite calibration services and the increasing need to reduce equipment downtime is contributing to the region’s large share in the calibration services market. Asia-Pacific is forecast to register the fastest CAGR of 10.7% over the analysis period. The rapid pace of industrialization and infrastructure development activities in countries such as China, India and Brazil is contributing to the continuous rise in installed base of equipment across various industry verticals. Increased investments in the establishment of new facilities across industries such as chemical, and oil & gas sectors, automotive, food & beverages, communications, and electronics manufacturing are expected to propel the need for quality and accuracy of equipment, thus fueling demand for calibrations on a periodic basis.

Major players in the market include ABB Ltd., Brüel & Kjær Sound & Vibration Measurement A/S, ESSCO Calibration Laboratory, 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, Technical Maintenance Inc., Tektronix Inc., Tradinco Instrumenten-Apparaten B.V., Transcat Inc., and Trescal, among others.

The research report titled “Calibration Services - Market Analysis, Trends, and Forecasts” 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. The global and regional Calibration Services markets are analyzed by the End-Use Sectors - Electronic Manufacturing, Communication, Aerospace & Defense, Industrial & Automotive, and Others. The global Calibration Services market is additionally analyzed by Parameter - Mechanical Calibration Services, Electrical Calibration Services, Physical/Dimensional Calibration Services, and Thermodynamic Calibration Services. The US market for Calibration Services is additionally analyzed by the Segments - Original Equipment Manufacturers, In-House Laboratories and Third Party Service Providers.

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