According to the latest report by IMARC Group, titled "Calibration Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global calibration services market size reached US$ 5.6 Billion in 2022. Calibration services are specialized services that help enhance the functionalities of a wide range of equipment or machines, such as calipers, chart recorders, digital multimeters, oscilloscopes, micrometers, pressure gauges, dial indicators, torque wrenches, and spectrum analyzers. They also assist in increasing operational efficiency and safety, reducing wastage of time and money, and eliminating the requirement of additional work. They enable researchers and lab assistants to use the necessary equipment for taking accurate measurements and working efficiently. They are employed for detecting deviations and inaccuracies in various measuring equipment by comparing their performance against a standardized measurement. They are also used in the manufacturing industry to produce commodities or components according to the required specifications.
Global Calibration Services Market Trends:
At present, the increasing demand for calibration services, as they enhance the efficiency and reliability of various measuring equipment, represents one of the primary factors propelling the growth of the market. Besides this, the rising utilization of calibrations services to maintain geographical consistency of measuring equipment and instruments with international agreements and standards is contributing to the growth of the market. In addition, the growing adoption of calibration services in international and local trade to measure the correct quantities of parcels and maintain quality assurance is offering a favorable market outlook. Apart from this, the increasing installation of heavy machinery in industries to improve productivity is supporting the growth of the market. Additionally, the rising demand for routine calibration of various automotive equipment to ensure proper functioning is strengthening the growth of the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 7.5 Billion by 2028, exhibiting a CAGR of 5.1% during 2023-2028.
- On the basis of the service type, the market has been segmented into in-house, OEMs, and third-party service. Presently, third-party service represented the largest segment in the market.
- Based on the calibration type, the market has been classified into electrical, mechanical, thermodynamic, physical/dimensional, and others. At present, electrical holds the biggest share in the market.
- On the basis of the end use industry, the market has been segregated into electronics manufacturing, communication, aerospace and defense, automotive, and others. Electronics manufacturing currently accounts for the total market share.
- Region-wise, the market has been divided into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others) enjoys the leading position in the market.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include 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., and Trescal Holdings Inc.
|Base Year of the Analysis
||Service Type, Calibration Type, End Use Industry, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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. and Trescal Holdings Inc.
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