The global calibration services market size reached US$ 6 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 7.4% during 2021-2026, according to the latest research report by IMARC Group.
Calibration services refer to the detection of deviations and inaccuracies in any mechanical instrument or its parts. The process involves comparing the readings of equipment under test (EUT) to a known measurement or standard instrument. It is performed at regular intervals to identify potential faults in an instrument and ensure optimal performance to increase output and reduce downtime.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Market Trends and Drivers:
The growing awareness about the quality and preventive maintenance of machinery is the primary factor driving the market. Additionally, the rising adoption of calibration services by organizations for in-house standardization of instruments and by original equipment manufacturers for ensuring product efficiency is acting as another growth-inducing factor. Furthermore, technological advancements have led to the increasing application of calibration services for mechanical, electrical, physical and thermodynamic calibration of devices or components across automotive, electronics, aerospace and defense industries. Other factors, including rapid industrialization and extensive research and development (R&D) activities, are also anticipated to propel the market growth.
The report has also analysed the competitive landscape of the market with some of the key players being 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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The report has segmented on the basis of Service Type, Calibration Type, end-use Industry and geography.
Breakup by Service Type:
Breakup by Calibration Type:
Breakup by End Use Industry:
Breakup by Region:
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