Calibration Services Global Market Report 2023: Sector to Reach $7.5 Billion by 2028 at a CAGR of 4.99% - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Calibration Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global calibration services market size reached US$ 5.6 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 7.5 Billion by 2028, exhibiting a CAGR of 4.99% during 2022-2028.

Companies Mentioned

• 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.

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 Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global calibration services market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on service type, calibration type and end use industry.

Breakup by Service Type:

• In-House
• OEMs
• Third-Party Service

Breakup by Calibration Type:

• Electrical
• Mechanical
• Thermodynamic
• Physical/Dimensional
• Others

Breakup by End Use Industry:

• Electronics Manufacturing
• Communication
• Aerospace and Defense
• Automotive
• Others

Breakup by Region:

• North America
• United States
• Canada
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa

Key Questions Answered in This Report

1. What was the size of the global calibration services market in 2022?

2. What is the expected growth rate of the global calibration services market during 2023-2028?

3. What are the key factors driving the global calibration services market?

4. What has been the impact of COVID-19 on the global calibration services market?

5. What is the breakup of the global calibration services market based on the service type?

6. What is the breakup of the global calibration services market based on the calibration type?

7. What is the breakup of the global calibration services market based on the end use industry?

8. What are the key regions in the global calibration services market?

9. Who are the key players/companies in the global calibration services market?

For more information about this report visit https://www.researchandmarkets.com/r/bdsecu

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900