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The calibration management software market is estimated to grow at a CAGR of 4.69% between 2022 and 2027. The size of the market is forecast to increase by USD 91.28 million. The growth of the market depends on several factors, including the automation of the calibration process, the integration of calibrators with maintenance management systems, and the leveraging software data to derive deep knowledge.
This report extensively covers market segmentation by technology (locally installed and cloud-based), application (large enterprise, small and medium enterprise), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Technavio categorizes the global calibration management software market as a part of the global application software market within the global IT software market. The overall global IT software market covers companies that are engaged in developing and producing application and system software. It also includes companies offering database management software. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The automation of the calibration process is notably driving the market growth, although factors such as the high cost of software packages may impede the market growth. Our researchers analyzed the data with 2022 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.
Key Calibration Management Software Market Driver
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.
Significant Calibration Management Software Market Trend
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.
Automated laboratories assure compliance of 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.
Major Calibration Management Software Market Challenge
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.
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.
Key Calibration Management Software Market Customer Landscape
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.
Global Calibration Management Software Market Customer Landscape
Vendors 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.
acgil.com - The company offers calibration management software which includes thermal calibration, mechanical calibration services, and dimensional metrology calibration.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors 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 calibration management software 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 197.66 million in 2017 and continue to grow by 2021. 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 35% 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 calibration management software market in the region.
In 2020, the outbreak of COVID-19 was a major catalyst for the growth and adoption of calibration management software. However, in late 2020, the initiation of large-scale COVID-19 vaccination drives led to the removal of lockdown restrictions. With the easing of restrictions, various industries restarted their manufacturing operations, which, in turn, propelled the demand for calibration management software. With the increased adoption of cloud-based infrastructure in the manufacturing industry, the regional market in focus is expected to witness high growth during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by Technology (Locally installed and Cloud-based), Application (Large enterprise, Small, and medium enterprise), and Geography (North America, Europe, APAC, South America, and Middle East and Africa).
Calibration Management Software Market Scope |
|
Report Coverage |
Details |
Page number |
156 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.69% |
Market growth 2023-2027 |
USD 91.28 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
3.54 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 35% |
Key countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, 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 growth inducers and obstacles, Fast-growing and slow-growing segment analysis, 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. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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