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The calibration management software market is forecast to increase by USD 73.7 million and is estimated to grow at a CAGR of 3.73% between 2023 and 2028. The market experiences significant expansion, driven by key factors. Firstly, the automation of calibration processes streamlines operations and enhances efficiency. Secondly, the integration of calibrators with maintenance management systems facilitates seamless workflows and data synchronization. Lastly, the utilization of software data for gaining comprehensive insights and knowledge is a game-changer, enabling informed decision-making and continuous process improvement. These factors collectively contribute to the market's robust growth.
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The market has been gaining significant traction in various industries, including the biotechnology, utilities, and telecommunication sectors. This software plays a crucial role in ensuring the accuracy and reliability of measuring instruments, such as analog multimeters and data loggers, used in these sectors. In the biotechnology sector, where precise measurements are essential for research and development, CMS facilitates procurement, scheduling, and tracking of calibration services for various types of equipment. It also helps in maintaining records of calibration history, ensuring compliance with regulatory requirements. The utilities sector relies heavily on electrical and thermodynamic calibration to maintain the efficiency and reliability of power generation and distribution systems. CMS enables utilities companies to manage their calibration processes effectively, reducing downtime and minimizing maintenance costs.
The telecommunication sector, which deals with data transmission and communication networks, also benefits significantly from CMS. It helps in managing the calibration of various types of equipment used in telecommunication networks, ensuring optimal performance and minimizing disruptions. True value is achieved when CMS is integrated with various types of calibration equipment, such as analog multimeters and data loggers, to provide real-time data and analysis. This integration enables organizations to identify trends, predict failures, and take corrective actions proactively, reducing the overall cost of calibration and maintenance. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Automation of the calibration process is the major driver influencing calibration management software growth. Calibration management software offers optimized solutions to automate the calibration process. This software also offers comprehensive functionality that is required in laboratories and plants. Calibration management software is essential for power stations, offshore platforms, refineries, and other process plants as they ensure the accuracy of devices operating in remote locations. The effective deployment of calibration management software minimizes process failures and reduces equipment failure costs and waste.
Furthermore, they carry out major calibration processes such as planning, scheduling, and documenting outputs. Therefore, the use of this software only requires a few employees, thereby reducing labor costs, which decreases product manufacturing costs and lowers maintenance expenses. Hence, such factors are driving the market growth during the forecast period.
Automation of laboratory instruments is the major trend influencing calibration management software growth. Automated systems performing calibration are supported by calibration management software that includes pre-calibration, calibration, and post-calibration techniques. Raising alarms for the need for calibration, scheduling, calibrating, analysis, and documenting are handled in an ordered sequence. Implementing IoT will also create an increased demand for calibration management software during the forecast period. Calibrations of devices are primarily preferred when industries require certifications for calibration procedures.
Moreover, automated laboratories ensure compliance with regulations such as ISO/IEC 17025. Laboratories performing calibrations with calibration management software will promote confidence in their performance as they abide by the stringent policies. The global acceptance of results also facilitates cooperation between laboratories and other associated bodies. Thus, calibration of laboratory equipment has the capability to directly impact international trade as calibration ensures the acceptance of test reports and certificates between different countries.
The high cost of software packages is the major hindrance to calibration management software growth. The calibration management software included costs such as the license cost, service charges for CB software, multiple user charges, virtual servers cost, and cost of software upgrades. In LI calibration management software, license ownership is a major cost. Also, for LI calibration management software, updates may require a change of systems. As the software may not work on old hardware versions, new hardware needs to be installed to reduce interoperability issues during the calibration process. These factors increase the overall cost of ownership, and recurring service charges lead to a rise in the overall operational expenditure.
Further, SME or small and medium-sized enterprises prefer to build their teams to maintain the services related to calibration. A complete change in the existing infrastructure and adoption of updated versions of the calibration management software will also increase the overall cost in SMEs. Therefore, SMEs hesitate to change their current calibration methods with automated software systems, thereby preferring manual entry of calibration data using spreadsheets.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the locally installed segment will be significant during the forecast period. Locally installed calibration management software has dominated the global market because of the level of security they offer. The increased level of security is offered by locally installed software because only the end-users have access to the data. Thus, data is secure, and data breaches can be prevented.
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The locally installed segment was valued at USD 201 million in 2018 and continue to grow by 2022. This software is a permanently owned license by end-users and is installed on their systems and managed by industrial operators. This type of calibration management software is essential for multi-users and multi-site implementation. Many end-users prefer this type of data storage as they want to keep the data within the company. Locally installed calibration management software ensures immediate action in case of emergencies and is expensive at the time of purchase. Driving factors for the locally installed calibration management software such as Security, and Offline accessibility. Such factors will increase the segment growth during the forecast period.
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North America is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. A major share of the revenue in the market was generated from North America as it is the key manufacturing region with a strong presence of industries such as the oil and gas, power, automotive, food and beverage, and pharmaceutical industries. Huge investment in the power sector requires the deployment of calibration management software in the power sector for installation and maintenance time of power equipment. It certainly boosts the demand in the market in the region during the forecasting period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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The market has been gaining significant traction in various industries, including the biotechnology, energy, utilities, renewable energy, and communication sectors. This software plays a crucial role in managing and facilitating the procurement, installation, maintenance, and calibration of essential instruments such as calibration laboratories' analog and digital multimeters, calipers, chart recorders, clamp-on ammeters, dial indicators, force gauges, micrometers, oscilloscopes, signal analyzers, spectrum analyzers, optical power meters, and network analyzers.
CMS solutions enable efficient instrument management by providing a centralized platform for tracking and scheduling calibration activities. They help maintain accurate records of normal values and inaccuracy and uncertainty levels for each Device Under Test (DUT). By ensuring that instruments are calibrated regularly and accurately, CMS solutions contribute to enhancing the overall performance and reliability of electrical grids, water treatment plants, and telecommunication networks. In the context of the energy sector, particularly renewable energy, CMS solutions play a vital role in maintaining the accuracy of wind power and solar power systems. These systems rely on precise measurements for optimal energy production and grid integration. CMS solutions facilitate the calibration of various sensors and instruments used in these systems, ensuring they operate at their maximum potential.
Moreover, CMS solutions are increasingly being adopted in the electronics manufacturing industry and the communication industry to manage the calibration of complex equipment and ensure the highest levels of precision and accuracy. The market landscape depends on Calibration laboratory, Procurement facilitation, Electrical calibration. With the advent of technologies like g technology, edge computing, and advanced calibration techniques such as electrical, thermodynamic, and physical-dimensional calibration, CMS solutions are becoming indispensable tools for engineers and technicians in various industries. In conclusion, the market is poised for continued growth as industries increasingly recognize the importance of accurate and reliable instrument calibration for maintaining optimal performance and ensuring regulatory compliance.
Market Scope |
|
Report Coverage |
Details |
Page number |
161 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.73% |
Market growth 2024-2028 |
USD 73.7 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
3.59 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 34% |
Key countries |
US, China, Germany, UK, and Canada |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ACG Infotech Ltd., Ape Software Inc., AVL List GmbH, Business Analysis Ltd., CompuCal Calibration Solutions, CyberMetrics Corp., Espresso Moon LLC, Fortive Corp., Hexagon AB, Humpage Technology Ltd., IndySoft Corp., Nagman Instruments and Electronics Pvt. Ltd., P.J. Bonner and Co. Ltd., Prime Technologies Inc., Productivity Quality Systems Inc., Quality America Inc., Qualityze Inc., QUBYX Software Technologies LTD., Sarlin Oy Ab, and Techgate LLC |
Market dynamics |
Parent market analysis, market trends and analysis, market growth analysis, market research and growth, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technology
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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