NEW
YORK, July 4, 2024 /PRNewswire/ -- The
global calibration management software market size is
estimated to grow by USD 73.7 million
from 2024-2028, according to Technavio. The market is estimated to
grow at a CAGR of over 3.73% during the forecast
period. automation of calibration process is driving
market growth, with a trend towards increased focus on
predictive maintenance and analytics. However, threat of
cyber-attacks poses a challenge. Key market players include
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.
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segments, customer landscape, and companies- View the
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Calibration
Management Software Market Scope
|
Report
Coverage
|
Details
|
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 2022-2023
(%)
|
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
|
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 Driver
Calibration management software with predictive analytics
enables organizations to optimize their calibration activities,
identifying potential equipment issues before they cause unplanned
downtime. By analyzing historical data and equipment performance
trends, calibration schedules can be adjusted based on actual usage
and condition, maximizing performance and minimizing costs. This
integration streamlines calibration processes, improving efficiency
and productivity, and driving market growth during the forecast
period.
The Calibration Management Software market is experiencing
significant growth, with an increasing number of businesses
recognizing the importance of accurate and efficient calibration
processes. Utilities, manufacturing, and other sectors are adopting
calibration software to manage their calibration activities. The
market is trending towards solutions that offer real-time
monitoring, automated scheduling, and comprehensive reporting.
Calibration software enables companies to streamline their
calibration processes, reduce downtime, and ensure regulatory
compliance. Additionally, cloud-based solutions are gaining
popularity due to their flexibility and accessibility. Overall,
calibration management software is a valuable investment for
businesses seeking to optimize their operations and maintain
high-quality standards.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
• The
calibration management software market is experiencing a shift
towards automated smart manufacturing technologies. While this
brings operational efficiencies, it also introduces cybersecurity
risks. Data vulnerability increases as software and connected
technologies are housed on software providers' servers.
Unauthorized access can lead to data theft and manipulation.
Primary threats include operational downtime, product development
manipulation, and sensitive information theft. Ransomware attacks
are common, targeting industries like medical devices, consumer
durables, and automotive. Security upgrades and IoT integration
increase operational expenses. North
America and Europe are
major vulnerable regions. IoT use in calibration software
management may hinder market growth due to heightened security
concerns.
• The
Calibration Management Software market faces several challenges in
ensuring accurate and efficient operations. One challenge is the
integration of various calibration systems and technologies, such
as IoT, analytics, and automation. Another challenge is ensuring
data accuracy and security, as well as complying with industry
regulations and standards. Additionally, managing a large number of
calibration tasks and assets can be complex, requiring robust and
scalable software solutions. Furthermore, the need for real-time
monitoring and reporting adds to the complexity of calibration
management. Lastly, the cost of implementing and maintaining these
software solutions can be a significant challenge for
organizations.
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challenges - Request a sample report!
Segment Overview
This calibration management software market report extensively
covers market segmentation by
- Technology
- 1.1 Locally installed
- 1.2 Cloud-based
- Application
- 2.1 Large enterprise
- 2.2 Small and medium enterprise
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Locally installed- The locally installed
calibration management software market is thriving due to enhanced
security features. With on-premise systems and servers, data access
is restricted to license holders, eliminating potential security
risks. Offline accessibility allows users to access data regardless
of internet connection. Although requiring additional IT support
and hardware components, the cost efficiency attracts Small and
Medium Enterprises (SMEs), driving market growth.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
The Calibration Management Software market caters to various
industries, including the Biotechnology and Energy sectors, as well
as Utilities and Renewable Energy. This software facilitates the
procurement of calibration instruments such as Analog multimeters,
Calipers, Chart recorders, Clamp-on ammeters, Data loggers, Dial
indicators, Digital multimeters, Force gauges, Micrometers,
Oscilloscopes, and other measuring devices. It ensures Instrument
management by providing accurate and reliable calibration services,
minimizing Inaccuracy and uncertainty, and maintaining Normal
values. Engineers in these sectors rely on this software to obtain
the True value of their measurements, enhancing overall operational
efficiency and productivity.
Market Research Overview
The Calibration Management Software market encompasses solutions
designed to streamline and optimize the calibration process across
various industries. These solutions enable organizations to manage
and track calibration activities, schedule preventive maintenance,
and ensure regulatory compliance. The software often includes
features such as real-time monitoring, automated alerts, and
reporting capabilities. Calibration management systems are
essential for maintaining the accuracy and reliability of equipment
and instruments, thereby improving overall operational efficiency
and productivity. Additionally, cloud-based solutions offer remote
access and real-time data sharing, enhancing collaboration and
streamlining workflows.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Technology
-
- Locally Installed
- Cloud-based
- Application
-
- Large Enterprise
- Small And Medium Enterprise
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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