Voltage Calibrator Market 2019 Global Industry Size, Segmentation, Business Trends, Growth Factors, Technology, Latest Innovation, Demands by Forecast to 2023

Voltage Calibrator Market Research Report Information, —By Type (Handheld, Bench type), Component (Product, Services), End User (Research, Field), Vertical (Telecommunication & IT, Semiconductor, Government & Defense) – Global Forecast till 2023

Market Highlights:

Calibration helps in involving multiple points in time, to prevent drifting over a long period of time. Calibration is an evaluation of the device's performance in comparison to a benchmark of known accuracy. Following the comparison, a correcting step is adopted to curtail possible errors. It facilitates affordable tolerance components to create products that exceed normal expectations. The advantages of calibration can include reducing cost in several areas. Calibration can find wide application in removing manufacturing tolerances, surging reliability, specifying less-expensive components, increasing customer satisfaction, ensuring customer returns, speeding up product delivery, and reducing test time. The voltage calibrator market device finds wide application in testing, regulating, and measuring techniques for verifying and setting test instrumentation and installations. Market Research Future revealed in their recently published report that the global voltage calibrator market is estimated to develop at a CAGR of 6.49% over the forecast period. The main factor driving the market growth is the surged adoption of these devices by the utilities sector. The power sector reflects the largest demand for the voltage calibrator devices. Moreover, the upgradation of aged distribution networks needs voltage calibrator market devices. The conventional distribution networks are being improved or replaced constantly by new network which will spur the demand for these devices.

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Key Players

The global voltage calibrator market is dominated by key players such as Extech Instruments (US), Time Electronics Ltd. (UK), REED Instruments (US), AOIP (France), PCE Holding GmbH (Germany), Valhalla Scientific Inc. (US), Yokogawa Test & Measurement Corporation (Japan), Practical Instrument Electronics, Inc.(US), Calibrators Inc. (US), Fluke Corporation (US), Nagman (India), Schweitzer Engineering Laboratories, Inc. (US), General Electric Company (US), ENGIE LABORELEC (Belgium), and Powerpoint Engineering Ltd (Ireland).

Market Segmentation

The global Voltage Calibrator Market is segmented into component, type, vertical, region, and end user. Based on component, the global voltage calibrator market is segmented into services and product. Under the component segments, the product segment is estimated to represent a larger market share than the services segment. This is owing to the high cost of the calibrator device. The services segment is likely to develop at a higher CAGR on account of the growing need for maintenance services and after sales services. Based on type, the market is segmented into handheld and bench type. The bench type voltage calibrator segment is likely to experience higher market share than handheld type during the forecast period. The growth of this segment can be attributed to the greater demand witnessed in the electronic manufacturing industry across the world. The bench type voltage calibrator devices find application in precise calibration testing in off-site environment or research laboratory. These are also used calibrate and provide linearity of electronic voltmeters, data loggers, chart recorders and others. These devices extend additional features for high accuracy and reliability, which are not present in handheld voltage calibrator. Based on vertical, the market is segmented into semiconductor, healthcare, telecommunication, IT, aerospace, defense, pharmaceutical, utilities, and others. The semiconductor vertical is likely to hold the second largest share in the voltage calibrator market under the vertical segment. Based on region, the global voltage calibrator market is segmented into Asia-Pacific, Europe, North America, and rest of the world

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Regional Analysis

North America is estimated to represent the largest share of voltage calibrator market over the forecast period. The US holds almost 80%-85% share of the North America market. The growth can be attributed to the presence of key vendors in the market having customer base. Additionally, North America witnesses a higher adoption of voltage calibrator market owing to consistently surging semiconductor and electronic manufacturing industry in the market. The market share of APAC is likely to develop at the highest CAGR from 2018-2023, followed by the Europe market.

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