Criticality of Testing Equipment in Manufacturing Industry Drives the Market for Calibration Services, According to New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on the Calibration Services markets. Global market for Calibration Services is projected to reach US$5.7 billion by 2020, driven by the growing focus on quality and standards compliance across various end-use industry verticals.

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Calibration Services: A Global Strategic Business Report

San Jose, California (PRWEB) April 28, 2014

Follow us on LinkedIn – Economic success of manufacturing industries is hugely dependent on the efficiency with which products are manufactured, and measurement therefore plays a crucial role. Calibration services are critical in verifying the accuracy and precision of test equipment since they help cut down the risk of failures in a product or process due to inaccurate measurements. Over the years, calibration has come to play a key role in improving manufacturing productivity, and profitability. Implementation of new legislations related to environmental impact and product safety, growing awareness about benefits offered through regular maintenance of test equipment and increased emphasis on preventive maintenance are reinforcing the prospects for calibration services. Availability of sophisticated software is also expected to benefit the market. Owing to the nature of components involved and the sustained need for high accuracy, electronics manufacturing, automotive, aerospace and defense sectors represent the major end-use markets for calibration services.

As stated by the new market research report on Calibration Services, Europe represents the largest regional market worldwide. Focus on preventive maintenance and long-term cost savings is providing the impetus for growth in the region. In addition, the increasing focus of manufacturers on quality certifications such as the ISO is augmenting demand for calibration services in Europe. Asia-Pacific is forecast to emerge as the fastest growing market with a CAGR of 9.7% over the analysis period. Growth in Asia-Pacific will be especially driven by China, given the robust economic growth and the thriving manufacturing sector in the country. Increased investments in the establishment of new precision engineering and manufacturing facilities across varied industries, particularly in China and India, are expected to stimulate the need for calibration on a periodic basis.

Major players covered in the report include Agilent Technologies Inc., Fluke Corporation, GE Kaye Europe, Micro Precision Calibration Inc., Optical Test and Calibration Limited, Rohde & Schwarz GmbH & Co. KG, Siemens AG, SIMCO Electronics, Sulzer (UK) Holdings Limited, Tektronix Inc., Tradinco Instruments B.V., Transcat Inc., and Trescal Limited.

The research report titled “Calibration Services: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. Key end-use industries analyzed for Calibration Services include Electronic Manufacturing, Communication, Aerospace & Defense, Industrial & Automotive and Others.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Calibration_Services_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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  • Raghu Gopal
    Global Industry Analysts Inc
    +1 408-528-9966
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