Frost Radar™: Global Calibration and Repair Services Market, 2021

Frost Radar™: Global Calibration and Repair Services Market, 2021

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RELEASE DATE
31-Mar-2021
REGION
Global
Research Code: K4A8-01-00-00-00
SKU: TM00666-GL-MR_25338

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Description

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.

Author: Prabhu Karunakaran

RESEARCH: INFOGRAPHIC

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Table of Contents

Strategic Imperative

Growth Environment

Frost Radar™: Global Calibration and Repair Services Market

Frost Radar™: Competitive Environment

Frost Radar™: Competitive Environment (continued)

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

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

Frost Radar™: Benchmarking Future Growth Potential

Frost Radar™: Benchmarking Future Growth Potential

Legal Disclaimer

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, Endress+Hauser (E+H), Anritsu Corporation, Mitutoyo, Rohde & Schwarz GmbH & Co. KG, Transcat, SIMCO Electronics, MKS Instruments, Bharat Electronics Limited (BEL), NI (formally National Instruments), 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. Author: Prabhu Karunakaran
More Information
No Index No
Podcast No
Author Kiran Unni
Industries Test and Measurement Instrumentation
WIP Number K4A8-01-00-00-00
Is Prebook No
GPS Codes 9404-A5,9594,9403,99FA,9593