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The Worldwide Calibration and Repair Services Industry is Expected to Reach $3.9 Billion by 2024

Research and Markets
·3-min read

Dublin, April 16, 2021 (GLOBE NEWSWIRE) -- The "Global Calibration and Repair Services Market, 2021: Frost Radar Report" 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 customers' increasing concern about quality, greater adoption of these services in the aerospace and defense and life sciences industries, and tightening regulations imposed by authorities across the world. The instruments used require diligent calibration services to ensure the precision and reliability of the test equipment, which is critical to support their operation. Consequently, calibration at regular intervals is needed.

The introduction of Industrial Internet of Things (IoT)-related technologies has increased demand for solutions that improve operational efficiency and reduce machine failure. End users want remote monitoring of and analytics for every instrument and piece of equipment, which will increase demand for the calibration and repair of connected assets. Calibration and repair service providers are expected to combine asset management software with calibration services to meet customers' needs in digitally mature end markets. This trend is likely to increase the renewability of calibration and repair service contracts and boost recurring revenue.

However, the global COVID-19 pandemic has adversely impacted the market. As end markets began recovering, at least in developed economies, demand began to increase for calibration and repair services. Nonetheless, the consumer electronics, industrial, and communications end markets will have a slower recovery (1-3 years) when compared to the life sciences, automotive, and non-commercial aerospace sectors in regard to attaining pre-COVID-19 pandemic growth rates.

In a field of more than 50 industry participants, Frost & Sullivan independently plotted the top 15 companies in this Frost Radar analysis: Keysight Technologies, Trescal, Tektronix Inc., METTLER TOLEDO, Instron Ltd, Enders + Hauser (E + H), Anritsu Corporation, Mitutoyo, Rohde & Schwarz GmbH & Co. KG, Transcat, SIMCO Electronics, MKS Instruments, Bharat Electronics Limited (BEL), National Instruments (NI), and SGS. Although other companies are competing or have recently entered the market, Frost & Sullivan has identified these 15 as the market powerhouses based on their revenue for the 2017-2020 period.

The Frost Radar reveals the market positioning of each company using its Growth and Innovation scores as highlighted in the Frost Radar methodology. The document presents competitive profiles on each of the companies based on their strengths, opportunities, and market positioning. We discuss strategic market imperatives and the competitive environment that vendors operate in as well as make recommendations for each provider to spur growth.

Key Topics Covered:

1. Strategic Imperative and Growth Environment

  • Strategic Imperative

  • Growth Environment

2. Frost Radar

  • Frost Radar: Global Calibration and Repair Services Market

  • Frost Radar: Competitive Environment

3. Companies to Action

  • Anritsu Corporation

  • Bharat Electronics Limited (BEL)

  • Enders + Hauser

  • Instron, Ltd.

  • Keysight Technologies

  • METTLER TOLEDO

  • Mitutoyo

  • MKS Instruments

  • National Instruments (NI)

  • Rohde & Schwarz

  • SGS

  • SIMCO Electronics

  • Tektronix, Inc.

  • Transcat

  • Trescal

4. Strategic Insights

5. Next Steps: Leveraging the Frost Radar to Empower Key Stakeholders

  • Significance of Being on the Frost Radar

  • Frost Radar Empowers the CEO's Growth Team

  • Frost Radar Empowers Investors

  • Frost Radar Empowers Customers

  • Frost Radar Empowers the Board of Directors

6. Frost Radar Analytics

  • Frost Radar: Benchmarking Future Growth Potential

  • Legal Disclaimer

For more information about this report visit https://www.researchandmarkets.com/r/7321sv

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900