Rapid industrialisation, along with the increasing requirement for testing and measuring devices, is one of the key factors driving the growth of the global calibration services market, which grew at a CAGR of around 7% during 2014-2019, according to a report.

Furthermore, rising awareness among the masses regarding protective and quality maintenance of instruments and machinery is stimulating the market growth, noted the latest report by ResearchAndMarkets.com.

In line with this, calibration services are often used by organisations for in-house standardisation of equipment and by original equipment manufacturers (OEM) to ensure the efficiency of their products. Various third-party calibration providers have also emerged for outsourced services, which, in turn, is contributing to the market growth.

Various technological advancements, such as improvements in the 3D printing technology and the availability of tissue-mimicking 3D phantoms, are acting as other growth-inducing factors. These improved services are used for electrical, mechanical, thermodynamic and physical calibration of aerospace, defense, electronics, automotive and medical devices or components. Other factors, including extensive research and development (R&D) activities, are anticipated to drive the market further. Looking forward, the publisher expects the global calibration services market to continue its moderate growth during the next five years.

Calibration services refer to the measurement of deviations and inaccuracies in mechanical equipment. The calibration process involves comparing the readings of one device to other equipment that has been previously calibrated. It is conducted at regular intervals for identifying potential faults in an instrument at the earliest and ensuring optimal performance to minimize downtime and increase output.

Apart from this, service providers offer on-site calibration, rapid turnaround, calibration documentation, pickup and delivery, online documentation and in-house contract lab services. As a result, it finds extensive applications across various industries, such as aerospace, defense, automotive, communication and electronics.

The competitive landscape of the market includes some of the key players such as ABB Ltd, Agilent Technologies, Endress+Hauser, Keysight Technologies, Micro Precision Calibration, Optical Test and Calibration, Rohde & Schwarz, Siemens Aktiengesellschaft, Simco Electronics, Sulzer, Tradinco Instruments, Transcat and Trescal Holdings.