Service Laboratory Market: Globally Expected to Drive Growth Through 2026

Service laboratory is defined as an organizational unit established by any service firm to find the faults and defects in any products. Similar to old natural science laboratory, service laboratory is responsible to embark experiments and innovations as per demand of the market. Service laboratory process has been used by several industries in order to improve their product quality. The equipment used by service laboratory helps in finding out the root cause of failure of any system, device or any end product & suggest the corrective plan for the same. The main focus of   service laboratory is to fulfill customer’s demand, service laboratory is bit different from a technical laboratory where experiments perform to find out different possibilities in controlled closed environment where as in service laboratory field experiments are being performed & more concern about market possibilities as new service is sellable or not.

The idea behind the establishment of service laboratory was to establish an organizational unit that can execute innovation management means to ensure that systematic innovation with creativity is being performed by the organization. In 2015, global service laboratory market size is estimated to be in billions and is expected to grow with decent CAGR at the end of forecasting period.

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Service Laboratory: Market Dynamics
Since last a few years, growing interest of service laboratory vendors in Nano technology has been coming out as a trend in service laboratory market. The key growth drivers of global service laboratory market are increased investment in R&D by different vendors in order to come up with advanced technology for example: Recently, a latest technology evolved out in the field of service laboratory named super resolution technique, along with that the increasing demand from growing economies is one also a key factor responsible for the...