LONDON--(BUSINESS WIRE)--The global temperature calibrators market is expected to register a CAGR of close to 7% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the market’s growth is the growing demand for temperature measurement in laboratories. Temperature is one of the most crucial parameters for maintaining good manufacturing process and quality assurance in laboratories. Hence, calibration is highly important for temperature measuring devices such as thermistors, thermocouples, thermometers, temperature detectors, and thermal imaging cameras. Apart from laboratories, calibration services have a high demand in industries, especially for temperature measurement devices, as they can affect the final product quality.
This market research report on the global temperature calibrators market 2018-2022 provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing mergers and acquisitions in the test and measurement sector as one of the key emerging trends in the global temperature calibrators market:
Global temperature calibrators market: Increasing mergers and acquisitions in the test and measurement sector
The test and measurement sector will be seeing a rapid growth during the forecast period with increasing demand for wireless and real-time test equipment. The test and measurement sector mainly includes essential test, calibration and metrology equipment, instruments, and software and services. Players in the market focused mostly on offering differentiated products to end-users by increasing complex design parameters as required in process lines of industries. They are investing in research and developments, mergers and acquisitions, and application engineering. The severity of regulations will act as a major driver for R&D spending by players. In addition, investments in mergers and acquisitions are leading to inorganic growth in the market.
“Increase in the global expansion of players is encouraging them to think on the inorganic growth of their productivity. This helps them in expanding their geographical reach by stressing on mergers and acquisition activities,” says a senior analyst at Technavio for research on automation.
Global temperature calibrators market: Segmentation analysis
This market research report segments the global temperature calibrators market into the following end-users (OEMs, third party service providers, and in-house maintenance) and key regions (the Americas, APAC, and EMEA).
The OEMs segment held the largest market share in 2017, accounting for nearly 43% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
EMEA held the highest share of the global temperature calibrators market in 2017, accounting for a market share of approximately 37%. The market share occupied by this region is anticipated to increase by nearly 1% during 2018-2022.
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