Global Calibration and Repair Services Markets, 2016-2019 & 2020-2024: Demand for High-quality Instrument Standards and Tightened Regulations Enhances Future Growth Potential
DUBLIN, Jan. 22, 2021 /PRNewswire/ -- The "IIoT Technologies Improving Process Efficiencies Power Global Calibration and Repair Services Market" report has been added to ResearchAndMarkets.com's offering.
The global calibration and repair services market is anticipated to reach $3,996.9 million by 2024, driven by increased quality awareness, greater adoption by the aerospace and defense, and life sciences industries, and tightening regulations imposed by calibration regulatory authorities across the world.
The instruments used in industries such as aerospace and defense, life sciences, and automotive, all of which are strictly regulated, are at high risk of failure, creating the need for calibration at regular intervals.
Focus on automation and asset software also drives the calibration and repair services market because these tools reduce the amount of time required to perform calibration and improve the quality of service rendered. For some electrical equipment, users need only to plug the equipment into the software, and the test is conducted automatically.
Moreover, this market is expected to grow rapidly with the advent of the Industrial Internet of Things (IIoT) and connected assets, considering all connected equipment must be calibrated regularly to ensure the proper functioning of the device network.
Growth opportunities for the calibration and repair services market include multi-vendor and multi-instrument capabilities, connected mobility, and life sciences market activity, with further market consolidation and continuous acquisitions expected.
However, the decline in activity across end markets such as consumer electronics, industrial, educational institutes, and energy due to the COVID-19 pandemic is expected to offset growth for the calibration and repair services market in the short-term. This trend is likely to reduce the frequency of on-site calibration and repair services due to social-distancing mandates.
The type of calibration and repair services covered are electrical/electronics, mechanical, physical/dimensional, and temperature/thermodynamic. The end-user industries include aerospace and defense, consumer electronics and semiconductors, communications, medical/life sciences, automotive, industrial, and others (educational institutes). The study period is from 2016 to 2024.
Key Topics Covered:
1. Strategic Imperatives
- Why is it Increasingly Difficult to Grow?
- The Strategic Imperative
- Impact of the Top Three Strategic Imperatives on the Calibration and Repair Services Market
- Growth Opportunities Fuel the Growth Pipeline Engine
2. Growth Opportunity Analysis, Global Calibration, and Repair Services Market
- Global Calibration and Repair Services Market Overview
- Calibration and Repair Services Market Segmentation
- Key Competitors in Global Calibration and Repair Services Market
- Key Growth Metrics
- Calibration and Repair Services Market Distribution Channels
- Growth Drivers in the Calibration and Repair Services Market
- Growth Driver Analysis
- Growth Restraints in the Calibration and Repair Services Market
- Growth Restraint Analysis
- Forecast Assumptions
- Revenue Forecast
- Revenue Forecast Discussion
- Competitive Environment
- Market Share Analysis
- Revenue Forecast by End User
3. Service Type and Regional Market Analysis
- Revenue Forecast by Service Type
- Revenue Forecast by Service Type - Discussion
- Revenue Forecast by Region
4. Aerospace and Defense Segment
- Key Growth Metrics
- Revenue Forecast
- Forecast Analysis by Vertical Market
5. Communications Segment
- Key Growth Metrics
- Revenue Forecast
- Forecast Analysis by Vertical Market
6. Automotive Segment
- Key Growth Metrics
- Revenue Forecast
- Forecast Analysis by Vertical Market
7. Medical and Life Sciences Segment
- Key Growth Metrics
- Revenue Forecast
- Forecast Analysis by Vertical Market
8. Consumer Electronics and Semi-Conductor Segment
- Key Growth Metrics
- Revenue Forecast
- Forecast Analysis by Vertical Market
9. Industrial Segment
- Key Growth Metrics
- Revenue Forecast
- Forecast Analysis by Vertical Market
10. Industry and Mega Trends
- Calibration Asset Management Software
- Automation in Calibration
- Industry Trends in the Calibration and Repair Services Market
- The Calibration and Repair Services Market in the Energy Sector
- The Calibration and Repair Services Market in the Industrial Food and Beverage Sector
11. Growth Opportunities Universe, Global Calibration and Repair Services Market
- Growth Opportunity 1 - Consolidation of Third-party Service Providers for Expanded Customer Base, 2019
- Growth Opportunity 2 - Analytical Instrument Qualification, Calibration, and Repair Services for the Life Sciences Industry, 2019
- Growth Opportunity 3 - Calibration for Electric Vehicles in the Automotive Industry, 2019
- Growth Opportunity 4 - Multi-vendor and Multi-instrument Capabilities for Expanded Customer Base, 2019
- Growth Opportunity 5 - Calibration Asset Management Software for technology-oriented End Users, 2019
12. Next steps
For more information about this report visit https://www.researchandmarkets.com/r/g6oyxz
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