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Increasing Importance of Product Quality to Fuel Demand for Calibration Services in North America

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3 Pages
English

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Increasing Importance of Product Quality to Fuel Demand for Calibration Services in North America PR Newswire MOUNTAIN VIEW, California, Aug. 22, 2012 - Stricter compliance environment and fierce competition across industries drive calibration services revenue to $1.374 billion in 2018 MOUNTAIN VIEW, California, Aug. 22, 2012 /PRNewswire/ -- The future looks bright for calibration services in North America, as harsher rules and regulations paired with increased rivalry across industries are driving the focus on product quality and productivity. However, the following components are critical for market participants to alleviate the impact of price pressure and the uncertainty in the economy on their business: tapping into the in-house laboratories segment, capturing the demand for greater and global capabilities, as well as focusing on growing end-user industries. Click here to view the North American Calibration Services Market video and gain access to the online community- http://bit.ly/QXztLV. New analysis from Frost & Sullivan (http://www.testandmeasurement.frost.com) finds that the North American calibration services market earned revenues of $948.2 million in 2011 and estimates this to reach $1.374 billion in 2018. If you are interested in more information on this research, please send an email to Jeannette Garcia, Corporate Communications, at jeannette.garcia@frost.

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Increasing Importance of Product Quality to Fuel Demand for Calibration Services in North America
PR Newswire MOUNTAIN VIEW, California, Aug. 22, 2012
- Stricter compliance environment and fierce competition across industries drive calibration services revenue to $1.374 billion in 2018 MOUNTAIN VIEW, California,Aug. 22, 2012/PRNewswire/ -- The future looks bright for calibration services inNorth America, as harsher rules and regulations paired with increased rivalry across industries are driving the focus on product quality and productivity. However, the following components are critical for market participants to alleviate the impact of price pressure and the uncertainty in the economy on their business: tapping into the in-house laboratories segment, capturing the demand for greater and global capabilities, as well as focusing on growing end-user industries. Click here to view the North American Calibration Services Market video and gain access to the online community- http://bit.ly/QXztLV. New analysis from Frost & Sullivan (http://www.testandmeasurement.frost.com) finds that the North American calibration services market earned revenues of $948.2 millionin 2011 and estimates this to reach$1.374 billionin 2018. If you are interested in more information on this research, please send an email to Jeannette Garcia, Corporate Communications, at jeannette.garcia@frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Significant merger and acquisition (M&A) activity has reduced the number of key participants in the market in the past few years, nonetheless the calibration services market remains very fragmented. Competition remains intense with hundreds of companies in the market, including a multitude of local, niche enterprises exerting great price pressure on larger service providers. Their existence is being sustained by a lack of purchasers' understanding of calibration and its benefits among customers. "Market growth could be accelerated if customers were more aware of calibration and its benefits," said Frost & Sullivan Industry Director Jessy Cavazos. "Customer education remains a key challenge for market participants, especially when the personnel in charge of purchasing the services are not the actual end-users of the service. They do not understand calibration and its value and mainly base their decision on price, allowing room for companies to compromise quality of service in order to provide lower prices." Acquisitions and partnerships will be effective means for market participants to meet customer demand for greater capabilities and global reach in the foreseeable future. In addition, increasing awareness about calibration and educating customers about its benefits will be essential to bolster the growth of the calibration services market over time. With the economy facing new headwinds, tapping into the large in-house laboratories segment of the market, focusing on growing end-user industries like medical and energy, and gaining