DUBLIN, April 16, 2021 /PRNewswire/ — 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.
Key Topics Covered:
Strategic Imperative and Growth Environment
- Strategic Imperative
- Growth Environment
Radar
- Global Calibration and Repair Services Market
- Competitive Environment
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
Strategic Insights
Next Steps: Leveraging the Frost Radar to Empower Key Stakeholders
- Significance of Being on the Frost Radar
- Empowers the CEO’s Growth Team
- Empowers Investors
- Empowers Customers
- Empowers the Board of Directors
Radar Analytics
- Benchmarking Future Growth Potential
For more information about this report visit https://www.researchandmarkets.com/r/46z1da
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