DUBLIN–(BUSINESS WIRE)–The “Global Calibration and Repair Services Market, 2021: Frost Radar 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.
Companies Mentioned
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 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/5hpnwo