Press release
Calibration Services Market is expected to grow at a CAGR of 6.4% during the forecasted period | Evolve Business Intelligence
• The global Calibration Services Market size was valued at USD 7.1 billion in 2022 growing at a CAGR of 6.4% from 2023 to 2033.
• North America dominated the market in 2022
• Asia Pacific is expected to grow at the highest CAGR from 2023 to 2033
As per the study initiated by Evolve Business Intelligence, the global Calibration Services Market size accounted for USD 7.1 Billion in 2022, growing at a CAGR of 6.4% from 2023 to 2033. The Calibration Services Market refers to the industry that provides calibration services for various measurement instruments and equipment used in different sectors such as manufacturing, healthcare, aerospace, automotive, electronics, and more. Calibration is the process of adjusting and verifying the accuracy and precision of measuring instruments to ensure they meet specified standards. This is crucial to maintain the reliability and accuracy of measurements in different industries.
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The Calibration Services Market driving the demand for calibration services include the need for compliance with industry regulations and standards, quality assurance, and the desire to enhance overall measurement accuracy in various processes. The market may also be influenced by technological advancements, as new instruments and equipment require regular calibration to maintain their accuracy.
Key Players
Some of the major Calibration Services Market players holding high market shares include ABB Ltd., Agilent Technologies Inc., Siemens AG, Danaher Corporation, Trescal Inc. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders. Some of the other major market players include Rohde & Schwarz GmbH & Co KG, Micro Precision Calibration Inc, Tradinco Instruments.
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Segmental Analysis
Based on Type, the Calibration Services Market is segmented into electrical, mechanical, physical/dimensional, thermodynamic. Electrical calibration is leading the segment growth with a major share and is anticipated to continue its dominance. This calibration type is essential in electronics, telecommunications, and energy industries, ensuring that electrical measurements are accurate and consistent. The rapid evolution of electronics drives the demand for electrical calibration services. As electronic devices become smaller, more complex, and integrated, accurate electrical measurements are essential for reliability and performance.
Based on End Use, the Calibration Services Market is segmented into aerospace & defense, electronic manufacturing, healthcare, communications, industrial & automotive. The electronic manufacturing segment holds a prominent position in the market. The electronics industry requires accurate measurements for parts and components. Calibration of dimensional, electrical, and mass instruments is crucial to ensure product quality, reduce defects, and meet industry standards.
Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Spain, Russia, Nordic Countries, BeNeLux, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Rest of Asia Pacific)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, South Africa, Rest of MEA)
• Latin America (Mexico, Brazil, Argentina, Rest of Latin America)
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