Voltage Calibrator Market: Driven by Growing Production of More Efficient and Powerful Electronic Chips
The global voltage calibrator market was valued at US$ 161.28 Mn in 2016 and is projected to register compound annual growth rate (CAGR) of over 5.28 % from 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled “Voltage Calibrator Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.” The report suggests that rising importance of electronic calibration, presence of calibration traceability, and increasing significance of process control in semiconductor manufacturing is likely to spur the demand for voltage calibrators in the coming years (2018 to 2026).
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As key players introduce new voltage calibrators in developed markets such as North America, Europe, and Asia Pacific, these regions are likely to account for leading share of the global voltage calibrator market. Growing production of more efficient and powerful electronic chips in less time by large number of semiconductor manufacturers to deal with the continuously rising competition in emerging markets such as China, Japan, and India is likely to boost growth of the Asia Pacific voltage calibrator market at a growth rate of around 6% from 2018 to 2026.
A voltage calibrator reads and sources voltage for verification of devices such as data loggers, displays of process devices, and other controlling devices. A voltage calibrator is useful across various industry verticals as calibration is an important process to ensure the quality of any product. However, with the advancement in technology and R&D activities, users are shifting to other types of calibrators i.e. multifunctional calibrators. Multifunctional calibrators have the capability to measure not only voltage but also pressure, temperature, frequency, and current. Furthermore, they are designed for calibration of traditional as well as innovative test instruments. Additionally, multifunctional calibrators are employed in manufacturing plants, wherein multiple parameters i.e. resistance, current, and voltage are taken into consideration while producing a product.
On the basis of industry verticals, the voltage calibrator market has been segmented into aerospace and defense, semiconductor, healthcare, IT & telecommunications, automotive, and others. Others segment includes energy and education. Semiconductor industry vertical is expected to grow at a CAGR of 6.21% during the forecast period. Process control for semiconductor manufacture is crucial, as manufacturers are increasingly producing more efficient and powerful chips in less time so as to sustain in the continuously rising competitive global market. Several semiconductor manufacturers are producing highly advanced and innovative chips for use in various consumer electronics products, by using technologically developed semiconductor manufacturing methods.