Greater Connectivity Creates Growth Opportunities for Advanced Calibration and Repair Services
Evolving quality and safety standards boost market development, finds Frost & Sullivan's Global Measurement & Instrumentation Research Team
LONDON, Aug. 16, 2016 /PRNewswire/ -- As quality and safety standards continue to evolve, manufacturers across industries will be compelled to calibrate items they had not previously considered. The greater connectivity in end-user industries, such as Automotive & Transportation and rising penetration of complex products in industries, such as Aerospace & Defence, as well as Life Sciences, where the cost of the failure is too high - is driving strong demand for advanced calibration and repair services.
New analysis from Frost & Sullivan, Calibration and Repair Services Market in Europe (http://frost.ly/oi) observes that the European market was worth $1.51 billion in 2015 and expects it to cross over $2.12 billion in 2022, at a compound annual growth rate (CAGR) of 5 percent.
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"The complexity of smart products necessitates a superior level of testing and attention to detail right at the design stage, intensifying the demand for sophisticated and accurate instrumentation," said Frost & Sullivan Measurement & Instrumentation Research Analyst Apoorva Ravikrishnan. "Service providers are working on augmenting their capabilities, so they can address the vast and diverse requirements of end-user industries."
In addition to electrical, mechanical and thermodynamic upgrades, market participants are striving to enhance the physical and dimensional attributes of their products to make them viable for shipping. Considering the wide range of instruments in use at customer locations, calibration and repair service providers are also expanding their network of laboratories.
"Every year, there is a rise in the number of new and complex instrumentation that require calibration, from a variety of end-user industry verticals," noted Ravikrishnan. "This enlargement of installed base is a significant driver for calibration and repair services in Europe."
Another prominent trend in the test and measurement sector is the automation of calibration and repair services. It not only boosts the consistency of results but also reduces the costs of calibration and the repair time. Software-oriented scalability will result in the development of modular instruments and eventually, novel software for calibration.
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Calibration and Repair Services Market in Europe
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