Calibration Services Market Research: Insights, Demand, Analysis, And Forecast 2024-2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Calibration Services Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The calibration services market size has grown strongly in recent years. It will grow from $6.33 billion in 2023 to $6.82 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to environmental monitoring and control, aviation and aerospace industry demand, scientific research and development, healthcare sector development, expansion of manufacturing sectors.

The calibration services market size is expected to see strong growth in the next few years. It will grow to $9.18 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to rapid digital transformation in manufacturing, expansion of aerospace and defense industries, emergence of smart cities and infrastructure, renewable energy sector growth, increased demand in healthcare and medical devices. Major trends in the forecast period include remote and on-demand calibration services, automation and robotics in calibration, data analytics and predictive maintenance, augmented reality (AR) and virtual reality (VR) calibration solutions, integration of calibration management software.

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Market Segmentation:
The calibration services market covered in this report is segmented -
1) By Service: In-House, OEMs (Original Equipment Manufacturer), Third-Party Service
2) By Calibration: Electrical, Mechanical, Thermodynamic, Physical Or Dimensional, Other Calibrations
3) By End Use: Electronics Manufacturing, Communication, Aerospace And Defense, Automotive, Other End-Uses

Major Driver - Calibration Services Market Surges With Global Expansion Driven By Rapid Industrialization
Rapid industrialization is expected to boost the growth of the calibration services market going forward. Rapid industrialization is due to the need for creating employment opportunities, promotion of education, training and research, industrial growth, and others. Rapid industrialization leads to increased growth in industries and manufacturing sectors that produce a lot of products to be tested and verified for the intended use. These products or materials need to be tested for deviations and accurate performance to be employed for final use, thus, creating a huge demand for calibration services that test and measure the accuracy and ensure the proper working of the products. For instance, according to the statistics by the UNIDO (United Nations Industrial Development Organization), a US-based specialized agency assisting countries in economic and industrial development, in 2022, the global manufacturing production saw a year-on-year output growth of 4.2% while industrial economies registered a similar annual output growth of 4.1%. This is followed by a stable increase of 3.6% and 6.1% in the last two quarters respectively. In addition, according to YCharts, a US-based investment research platform, the US industrial production year-on-year growth for 2022 is at 3.68%, which is higher than the long-term average of 3.58%. Therefore, rapid industrialization will drive the growth of the calibration services market.

Competitive Landscape:
Major companies operating in the calibration services market report are Siemens Aktiengesellschaft, General Electric, Danaher Corporation, Asea Brown Boveri Ltd, Eaton Corporation, Keysight Technologies Inc., Ametek Inc., Fluke Corporation, Optimal Calibration, Mettler-Toledo International Inc., Endress+Hauser AG, Yokogawa Electric Corporation, Rohde & Schwarz GmbH & Co KG, Tektronix Inc., WIKA Alexander Wiegand SE & Co. KG, National Technical Systems, Trescal Holdings Inc., Industrial Physics, Beamex Oy Ab, Transcat Inc., Instron Corporation, Micro Precision Calibration Inc., Cole-Parmer Instrument Company LLC, Simco Electronics, Anton Paar GmbH, Chauvi*n Arnoux Group, Gagemaker LP, Tradinco Instruments, American Calibration Inc., Optical Test and Calibration Ltd., Instrumentation Laboratory, Pruftechnik, Flir Systems, Global Beam Technologies, Intertek Group plc, Nagman Instrumentation & Electronics

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Top Trend - Calibration Services Market Elevates Precision With Groundbreaking GNSS Technologies
Major companies operating in the calibration services market are developing innovative products with advanced technologies, such as ground-based augmentation systems (GBAS), to provide reliable services to customers. A ground-based augmentation system (GBAS) is a system that improves the accuracy, integrity, and availability of Global Navigation Satellite Systems (GNSS) like GPS, primarily for aviation applications. For instance, in March 2023, Rohde & Schwarz, Germany-based, introduced the R&S EVSD1000 VHF/UHF NAV/drone analyzer, a cutting-edge solution for precise and efficient inspection of terrestrial navigation and communication systems for drones. This drone analyzer plays a significant role in the efficient inspection of air navigation and communication signals for drones, contributing to the overall growth of the calibration services market.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Calibration Services Market Characteristics
3. Calibration Services Market Trends And Strategies
4. Calibration Services Market - Macro Economic Scenario
5. Calibration Services Market Size And Growth
…..
27. Calibration Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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