Voltage Calibrator Market – Snapshot
According to a new market report published by Transparency Market Research titled “Voltage Calibrator Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026” the global voltage calibrator market is expected to reach US$ 271.27 Mn by 2026. The market is projected to expand at a CAGR of 5.28% during the forecast period from 2018 to 2026. According to the report, the global voltage calibrator market will continue to be influenced by a range of factors such as rising applications of voltage calibrators across the electronic devices manufacturing process, growing importance of electronic calibration to get higher quality product, and growing distributer networks around the globe that provide voltage calibrators to a large number of end-users. Asia Pacific will continue to be at the forefront of global demand, with the market in the region growing at above 6% through 2026.
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Services component segment expected to be more lucrative for the global voltage calibrator market
The global voltage calibrator market is bifurcated by components into hardware, software, and services. Services based component segment is expected to surpass US$ 108.00 Mn by 2026. Voltage calibrators are being extensively used across all industry verticals especially across automotive, aerospace & defense, and semiconductors worldwide, as voltage calibrators ensure reliability and product quality. Voltage calibrators need after sales services such as recalibration, repair, and maintenance services that retains the integrity of the voltage calibration and allows the smooth working of many applications. Furthermore, many market players also provide training and certification services pertaining to voltage calibrators.
Bench type voltage calibrator (device type segment) expected to dominate the voltage calibrator market
On the basis of device type, the voltage calibrator market has been segmented into bench type and handheld. The bench type voltage calibrator segment is expected to witness higher market share, due to rising demand across the electronic manufacturing industry worldwide.Bench type voltage calibrators are used for calibration and to maintain the linearity of various electronic devices, namely data loggers, electronic voltmeters, and chart recorders among others. Furthermore, unlike a handheld voltage calibrator, bench type voltage calibrator comes with additional features for providing high level of reliability and accuracy. Additionally, these types of voltage calibrators are used to perform high quality calibration testing in a perfectly maintained laboratory or off-site environment.
Voltage calibrators are expected to be adopted significantly by the semiconductor sector
On the basis of industry verticals, the voltage calibrator market has been segmented into aerospace and defense, semiconductor, healthcare, IT & telecommunications, automotive, and others. Others segment includes energy and education. Semiconductor industry vertical is expected to expand at a CAGR of 6.21% during the forecast period. Process control for semiconductor manufacture is crucial, as several manufacturers are increasingly producing more efficient and powerful chips in less time so as to sustain in the continuously rising competition in the global market. Several semiconductor manufacturers are producing highly advanced and innovative chips for extensive use in various consumer electronics products, by using technologically developed semiconductor manufacturing methods. Voltage calibrators play a vital role in ensuring reliability as well as quality of the product being manufactured, as the semiconductor manufacturing process is highly complex and involves a huge amount of capital. Furthermore, voltage calibrator devices help in maintaining the equipment performance at a high level, as they provide precise measurements during the product design process and carry out the quality assurance
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North America to continue to hold significant share in the overall market
North America is expected to hold higher market share for voltage calibrators during the forecast period. The contribution is primarily due to the presence of well-established players across the region, especially across the U.S. and Canada. North America is home to many well-established players from the voltage calibrator domain including REED Instruments, Extech Instruments, Valhalla Scientific Inc., and Practical Instrument Electronics, Inc. Furthermore, North America is witnessing higher adoption of voltage calibrators due to continuously rising electronic manufacturing industry across the region. Many companies are trying to capture a larger customer base for additional revenue generation. For instance, PCE Holding GmbH conducts various kinds of marketing activities to capture a larger customer base for significant revenue generation and company development. PCE Instruments, the subsidiary of PCE Holding GmbH, provides different types of calibrators including its own as well as by others brands and participates in different trade shows across Turkey, Germany, and Russia. Additionally, the company also focuses on the web mode as well as printing media to market its products.
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Yokogawa Test & Measurement Corporation, Extech Instruments, PCE Holding GmbH, Time Electronics Ltd, and AOIP among others are some of the major players operating in the voltage calibrator market profiled in this study. Details such as financials, SWOT analysis, business strategies, recent developments, and other such strategic information pertaining to these players have been duly provided as part of company profiling. Players are focusing on expanding their distributor network around the globe to increase customer reach and to generate additional revenue from voltage calibrators.
Demand for Advanced Consumer Electronics Spurs Prospects in Voltage Calibrator Market
Voltage calibrators are used in wide range of testing and measurement applications and are a part of vital instrumentation. They help in verifying and calibrating test installations. Strides being made by instrumentation and testing devices in the semiconductor industry is a robust driver for the growth in the voltage calibrators market. Rise in demand for voltage calibrators in instrumentation of various display devices, data loggers, and process recorders has fueled the sales in the market. Over the years, manufacturers have been leaning on developing calibrators with high accuracy as well those that prove cost-effective for business users. The need for such high accuracy calibration is evident in sensors and instruments that are used in high-temperature applications. Sensors are being extensively incorporated in a vast assortment of consumer devices. Growing demand for high-end consumer devices has also propelled the need for improvement in calibration techniques, thus boosting the outlook of th voltage calibrators market. Manufacturers have also focused constantly on improving the user interface to attract users. Over the years, they have become keenly involved in getting ISO certifications. Automation in simulation devices are expected to open new vistas of opportunities in process industries and in semiconductor manufacturing industry.
The Covid-19 pandemic has been associated with high mortality and morbidity, which has largely brought despair in the collective consciousness of population. The economic aftermath has been also huge, with a growing number of industry players adopting new strategies to get their businesses aligned with the new normal. Several brands across industries had suffered from the cascading impact of the waves of the pandemic. A few of the companies from the healthcare and pharmaceutical industries had to spur their production levels to meet the upsurge in demands for essential medicines and medical products. These developments have also brpught substantial impacts on the entire value chain and companies across the ecosystem are adopting new operating models. Further, the consumer demands for electronics have also undergone some remarkable changes, which adds to the growth dynamic in the voltage calibrators market.
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