Dublin, Sept. 04, 2023 (GLOBE NEWSWIRE) -- The "Calibration Services Market by Proofreading (In-house, OEM, Third-party Vendor), Application (Mechanical, Electrical, Dimensional, Thermodynamics), Application (Industrial & Automation, Electronics, Aerospace & Defence) and Region - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global calibration services market is projected to grow from USD 5.7 billion in 2023 to USD 8.1 billion by 2030, registering a CAGR of 5.3%
The calibration services market is characterized by its maturity and consistent progression, with revenue growth varying across different segments. Ensuring the steady expansion of this market in the future hinges on calibration service providers effectively raising awareness among end-user industries about the enduring advantages of calibration services.
Notably, the North American region has exhibited substantial growth in the calibration services market, largely attributed to its robust industrial landscape and rigorous quality standards. Industries spanning aerospace, healthcare, automotive, and manufacturing are increasingly reliant on precise measurements to align with regulatory requirements.
As technological advancements give rise to more complex instruments, the need for accurate calibration becomes paramount. In addition to technological prowess, North America's commitment to innovation and the adoption of precision manufacturing practices have contributed significantly to the calibration services sector.
With an unwavering focus on accuracy and compliance, the region's advanced infrastructure further amplifies its role in propelling the expansion of the calibration services market. Moreover, the market's growth trajectory is bolstered by the increasing adoption of calibration services in diverse applications, including electronics, industrial automation, aerospace and defense, and communication.
At the forefront of this market are industry leaders like Keysight Technologies (US), Hexagon AB (Sweden), Rohde & Schwarz (Germany), Tektronix, Inc. (US), and VIAVI Solutions Inc. (US).
The third-party vendor proofreading segment is expected to hold a significant market share in the overall calibration services market
During the forecast period, third-party vendor proofreading segment in the calibration market is likely to experience notable growth driven by various factors.
Companies across industries increasingly recognize the critical role of accurate calibration in maintaining compliance, quality, and operational efficiency. As the complexity of instruments and equipment rises, the need for specialized expertise in proofreading calibration procedures becomes evident. Third-party vendors offer impartial and specialized services, addressing potential errors or inconsistencies that might otherwise be overlooked.
This outsourcing trend allows businesses to focus on their core operations while ensuring precision in calibration processes. As regulatory demands and technological advancements persist, the third-party vendor proofreading segment is poised for continued growth, contributing to the overall expansion of the calibration services market.
The electronics application is expected to grow at a significant growth rate during the forecast period
The calibration services within the electronic manufacturing industry include the calibration of final products, periodic calibration of infrastructural machinery, and calibration on completion of specified operational usage time. Considering its vast nature of operations, calibration services are likely to have a considerable demand in the electronic manufacturing industry.
Calibration services are frequently used in all electronic manufacturing plants to monitor regular activities and regulate the equipment according to standard values. With the growing trend of using inspection services such as industrial radiography, phased array ultrasonic, and X-ray computed tomography in electronic manufacturing plants, the calibration of such test and measurement devices has also become a vital aspect of preventive maintenance within the industry.
Calibration services are essential in consumer electronics to ensure accurate and reliable functionality of devices, maintain product quality and compliance with industry standards, and verify production processes. They play a critical role in enhancing user experiences and building consumer trust in electronic products.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 251 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $5.7 Billion |
| Forecasted Market Value (USD) by 2030 | $8.1 Billion |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Global |
Premium Insights
- Increasing Demand for Accurate Measurements and Precisions in Various Industries to Drive Market
- Third-Party Vendor Segment Estimated to Secure Largest Market Share During Forecast Period
- Electrical Segment to Account for Largest Market Size Throughout Forecast Period
- Industrial & Automation Application to Hold Largest Market Share During Forecast Period
- Asia-Pacific to Secure Largest Market Share During Forecast Period
Market Dynamics
Drivers
- Growing Demand for High-Quality Inspection Equipment in Precision Manufacturing
- Increasing Requirement for Interoperability Testing with Rising Adoption of IoT Devices
- Strict Government Regulations to Ensure Product Safety and Environmental Protection
- Growing Adoption of Electronic Devices
Restraints
- Shortage of Skilled Technicians to Carry Out Calibration and Maintenance Tasks
- High Competition Due to Increased Price Sensitivity
- Complexities in Calibration Standards
Opportunities
- Advent of 5G Technology and Deployment of LTE and LTE-Advanced (4G) Networks
- Rapid Penetration of IoT Devices
- Constant Technological Changes and Advancements
Challenges
- Difficulties Faced by Vendors in Keeping Up with Constantly Changing Technologies
- Emergence of Electrical and Electronic Instruments with In-Built Self-Calibration Feature
Technology Analysis
- Commercialization of IoT Technology
- Combining Cmm with Industrial Internet of Things (IIoT)
- Smart In-Line CT Inspection Systems
- Artificial Intelligence in Industrial Metrology
- 3D Measurement Sensors
- Smart Sensors
- Video Measurement Systems
Case Study Analysis
- Keysight Technologies Demonstrates Its N5244B Pna Network Analyzer to Develop 5G Antenna Module
- Samsung Foundry Adopts Keysight E4727B Advanced Low-Frequency Noise Analyzer to Measure and Analyze Flicker Noise
- Exfo Inc. Provides Ox1 to Converge Ict Solutions That Ease Troubleshooting
Company Profiles
Key Players
- Keysight Technologies
- Hexagon Ab
- Rohde & Schwarz
- Tektronix, Inc.
- Viavi Solutions Inc.
- Omega Engineering, Inc.
- Renishaw PLC.
- Trescal, Inc.
- Micro Precision Calibration
- Octagon Precision India Pvt. Ltd.
- Tanson Instrument
- Msi Viking
Other Players
- Mitutoyo Corporation
- Master Gage & Tool Co.
- Pratt and Whitney Measurement Systems, Inc.
- Advantest Corporation
- National Instruments Corporation
- Anritsu
- Kolb & Baumann GmbH & Co KG.
- Feinmess Suhl GmbH
- Tesa Brown & Sharpe (Part of Hexagon Ab)
- Mettler Toledo
- Testo SE & Co. KGaA
- Tradinco Instruments
- Tgci Group
- Mahr GmbH
- Essco Calibration Laboratory
For more information about this report visit https://www.researchandmarkets.com/r/uj5qwh
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