Market Research Report
Calibration Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026
|Calibration Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026|
Published: September 16, 2021
IMARC Services Private Limited
Content info: 145 Pages
Delivery time: 2-3 business days
The global calibration services market is expected to grow at a CAGR of 7.4% during 2021-2026. 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.
Figure 11 Global: Calibration Services (OEMs) Market Forecast: Sales Value (in Million US$), 2021-2026