New York, March 21, 2023 (GLOBE NEWSWIRE) -- The global calibration services market revenues totaled US$ 7.0 billion in 2022. Between 2023 and 2032, global calibration services demand will rise at 5.8% CAGR. By the end of 2032, the worldwide Calibration Services Market size is set to reach US$ 12.4 billion.
Most of the calibration services demand is likely to arise from electronics manufacturing. As per Persistence Market research, electronics manufacturing segment will expand at 5.6% CAGR through 2032.
One of the primary driving forces behind the market's expansion is rapid industrialization. Rapid industrialization is increasing the need for testing and measurement equipment. This in turn will create high demand for calibration services.
Services that are used to find or detect inaccuracies and deviations in measuring instruments and dimensional standards are called calibration services. These services are being used across various industries. This includes automotive, aerospace, and electronics.
Growing need for equipment preservation and maintenance will boost the global market. Subsequently, focus on preventative maintenance is likely to elevate calibration services demand.
Rising customer concern for quality and introduction of new regulations will also fuel market expansion.
Click Here to Get Free Sample Copy of this Report@ https://www.persistencemarketresearch.com/samples/33380
The emergence of various third-party calibration service providers for outsourced services has caused the business to expand. Other drivers driving expansion include advancements in 3D printing technology and other technical improvements.
Additionally, research and development and launch of on-site calibration services will boost accelerate market. Leading companies in this market space are launching new services to expand their customer base.
For instance, in June 2021, new Mobile Calibration Lab Service was launched by Godrej & Boyce across various Indian States. It is intended at providing on-site calibration service to businesses such as aerospace, automotive, and manufacturing.
Key Takeaways from Calibration Services Market Report:
- Global calibration services demand is set to rise at 5.8% CAGR over the next ten years.
- By calibration type, electric segment will expand at around 5.7% CAGR through 2032.
- By end-user industry, electronics manufacturing segment will thrive at 5.6% CAGR.
- The United States calibration services market is likely to reach US$ 2.6 billion by 2032.
- Demand for calibration services in China will surge at 6.8% CAGR through 2032.
- The United Kingdom calibration services market will top a valuation of US$ 1 billion by 2032.
- Sales in Korea market are set to rise at 6.2% CAGR during the projection period.
“Growing focus on preventive maintenance across various industries will boost the calibration market. Further, implementation of strict government regulations will fuel demand.” Says a Persistence Market Research analyst.
Get Full Access of this Report@ https://www.persistencemarketresearch.com/checkout/33380
Who is Winning?
Agilent Technologies Inc., Danaher Corporation, Siemens AG, ABB Ltd., Endress+Hauser, Trescal Inc., Micro Precision Calibration Inc, Simco Electronics, Tradinco Instruments, and Rohde & Schwarz GmbH & Co KG are leading calibration service providers.
These companies are continuously launching new calibration solutions and services. They are also showing interest in embracing strategies such as mergers, acquisitions, and collaborations to expand their footprint.
Recent Developments:
- In December 2021, The Cary 3500 UV-Vis Spectrophotometer was introduced by Agilent Technologies. .
- In April 2021, "Quick Vision Pro Series" a CNC Vision Measuring System, was released by Mitutoyo. The new system is essential for measuring the dimensions of semiconductors and electrical devices. This is because it allows for high-speed, automated measurements to be made without physical touch.
More Insights Available
Persistence Market Research, in its new offering, presents an unbiased analysis of the calibration services market, presenting historical market data (2017 to 2021) and forecast statistics for the period from 2023 to 2032.
The study reveals extensive growth in the calibration services market categorized
- by Service type (House, Laboratories, OEM, and Third-Party Services),
- by calibration type (Electrical, Mechanical, Thermodynamic, and Physical),
- by End-use Industry (Electronics Manufacturing, Communication, Aerospace, and Defense and Automotive)
- by Region (North America, Latin America, Europe, Asia Pacific and the Middle East and Africa).
You Can Customize this Report As per Your Requirement Click Here@ https://www.persistencemarketresearch.com/request-customization/33380
About the Semiconductor and Electronics Division at Persistence Market Research
Persistence Market Research's highly experienced semiconductor and electronics team aids companies from all over the world with their specific business intelligence needs through professional research, actionable insights, and strategic recommendations. With a library of over a thousand research and 1 million+ data points, the team has spent over a decade analyzing the technology business across 50+ countries. From start to end, the company provides unrivaled research and consulting services. Please get in touch with us to see how we can help.
Other Trending Reports:
- Integration Platform as a Service (iPaaS) Market
- Content Services Platform Market
- Managed Security Services Market
- Security-as-a-Service Market
- Public Cloud Service Market
- Public Cloud Management and Security Services Market
- Interactive and Self-Service Kiosk Market
- Semiconductor Assembly Test Services Market
About Persistence Market Research:
Business intelligence is the foundation of every business model employed by Persistence Market Research. Multi-dimensional sources are being put to work, which include big data, customer experience analytics, and real-time data collection. Thus, working on “micros” by Persistence Market Research helps companies overcome their “macro” business challenges.
Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies’/clients’ shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.
Contact
Rajendra Singh
Persistence Market Research
U.S. Sales Office:
305 Broadway, 7th Floor
New York City, NY 10007
+1-646-568-7751
United States
USA - Canada Toll-Free: 800-961-0353
Email: sales@persistencemarketresearch.com
