The global calibration and repair services market is anticipated to reach $3,996.9 million by 2024, driven by increased quality awareness, greater adoption by the aerospace and defense and life sciences industries, and tightening regulations imposed by calibration regulatory authorities across the world. The instruments used in industries such as aerospace and defense, life sciences, and automotive, all of which are strictly regulated, are at high risk of failure, creating need for calibration at regular intervals.
Focus on automation and asset software also drives the calibration and repair services market because these tools reduce the amount of time required to perform calibration and improve the quality of service rendered. For some electrical equipment, users need only to plug the equipment into the software, and the test is conducted automatically. Moreover, this market is expected to grow rapidly with the advent of the Industrial Internet of Things (IIoT) and connected assets, considering all connected equipment must be calibrated regularly to ensure proper functioning of the device network.
Growth opportunities for the calibration and repair services market include multi-vendor and multi-instrument capabilities, connected mobility, and life sciences market activity, with further market consolidation and continuous acquisitions expected. However, the decline in activity across end markets such as consumer electronics, industrial, educational institutes, and energy due to the COVID-19 pandemic is expected to offset growth for the calibration and repair services market in the short-term. This trend is likely to reduce the frequency of on-site calibration and repair services due to social–distancing mandates.
Frost & Sullivan’s analysis of the global calibration and repair services market is segmented into North America, Europe, the Middle East and Africa, Asia-Pacific, and Latin America. The type of calibration and repair services covered are electrical/electronics, mechanical, physical/dimensional, and temperature/thermodynamic. The end-user industries include aerospace and defense, consumer electronics and semi-conductors, communications, medical/life sciences, automotive, industrial, and others (educational institutes). The study period is 2016 to 2024.
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The Strategic Imperative 8™
Impact of the Top Three Strategic Imperatives on the Calibration and Repair Services Market
Growth Opportunities Fuel the Growth Pipeline Engine™
Global Calibration and Repair Services Market Overview
Calibration and Repair Services Market Segmentation
Calibration and Repair Services Market Segmentation (continued)
Calibration and Repair Services Market Segmentation (continued)
Key Competitors in Global Calibration and Repair Services Market
Key Growth Metrics
Calibration and Repair Services Market Distribution Channels
Growth Drivers in the Calibration and Repair Services Market
Growth Driver Analysis
Growth Driver Analysis (continued)
Growth Driver Analysis (continued)
Growth Driver Analysis (continued)
Growth Restraints in the Calibration and Repair Services Market
Growth Restraint Analysis
Forecast Assumptions
Revenue Forecast
Revenue Forecast Discussion
Competitive Environment
Market Share Analysis
Market Share Analysis (continued)
Revenue Forecast by End User
Revenue Forecast by Service Type
Revenue Forecast by Service Type—Discussion
Revenue Forecast by Service Type—Discussion (continued)
Revenue Forecast by Service Type—Discussion (continued)
Revenue Forecast by Service Type—Discussion (continued)
Revenue Forecast by Region
Key Findings—North America
Key Findings—Europe
Key Findings—The Middle East and Africa
Key Findings—Asia-Pacific
Key Findings—Latin America
Key Growth Metrics
Revenue Forecast
Forecast Analysis by Vertical Market
Key Growth Metrics
Revenue Forecast
Forecast Analysis by Vertical Market
Key Growth Metrics
Revenue Forecast
Forecast Analysis by Vertical Market
KEY Growth Metrics
Revenue Forecast
Forecast Analysis by Vertical Market
KEY Growth Metrics
Revenue Forecast
Forecast Analysis by Vertical Market
Key Growth Metrics
Revenue Forecast
Forecast Analysis by Vertical Market
Calibration Asset Management Software
Automation in Calibration
Industry Trends in the Calibration and Repair Services Market
The Calibration and Repair Services Market in the Energy Sector
The Calibration and Repair Services Market in the Industrial Food and Beverage Sector
The calibration and Repair Services Market in the Industrial Food and Beverage Sector (continued)
Growth Opportunity 1—Consolidation of Third-party Service Providers for Expanded Customer Base, 2019
Growth Opportunity 1—Consolidation of Third-party Service Providers for Expanded Customer Base, 2019 (continued)
Growth Opportunity 2—Analytical Instrument Qualification, Calibration, and Repair Services for the Life Sciences Industry, 2019
Growth Opportunity 2—Analytical Instrument Qualification, Calibration, and Repair Services for the Life Sciences Industry, 2019 (continued)
Growth Opportunity 3—Calibration for Electric Vehicles in the Automotive Industry, 2019
Growth Opportunity 3—Calibration for Electric Vehicles in the Automotive Industry, 2019 (continued)
Growth Opportunity 4—Multi-vendor and Multi-instrument Capabilities for Expanded Customer Base, 2019
Growth Opportunity 4—Multi-vendor and Multi-instrument Capabilities for Expanding Customer Base, 2019 (continued)
Growth Opportunity 5—Calibration Asset Management Software for Technology-oriented End Users, 2019
Growth Opportunity 5—Calibration Asset Management Software for Technology-oriented End Users, 2019 (continued)
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| Deliverable Type | Market Research |
|---|---|
| No Index | No |
| Podcast | No |
| Author | Avinash Kumar |
| Industries | Test and Measurement Instrumentation |
| WIP Number | K483-01-00-00-00 |
| Is Prebook | No |
| GPS Codes | 9404-A5,9594,9403,9426,99FA,9593,9408 |
IIoT Technologies Improving Process Efficiencies Power Global Calibration and Repair Services Market
Demand for High-quality Instrument Standards and Tightened Regulations Enhances Future Growth Potential
11-Dec-2020
Global
Market Research