NEW YORK, June 4, 2024 /PRNewswire/ — The global field devices calibration services market size is estimated to grow by USD 689.4 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 4.77% during the forecast period.
For comprehensive forecast and historic data on regions, market segments, customer landscape, and companies- Click for the snapshot of this report
Technavio has announced its latest market research report titled Global field devices calibration services market 2024-2028
|
Field Devices Calibration Services Market Scope |
|
|
Report Coverage |
Details |
|
Base year |
2023 |
|
Historic period |
2018 – 2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 4.77% |
|
Market growth 2024-2028 |
USD 689.4 million |
|
Market structure |
Fragmented |
|
YoY growth 2022-2023 (%) |
4.47 |
|
Regional analysis |
North America, Europe, APAC, South America, |
|
Performing market contribution |
North America at 38% |
|
Key countries |
US, Germany, China, France, and UK |
|
Key companies profiled |
ABB Ltd., Applied Industrial Technologies Inc., |
Market Driver
The Field Devices Calibration Services Market is essential for process industries, ensuring operational accuracy and instrument reliability. Traditional instrument shops have been replaced by service providers, offering online diagnostics, calibration scheduling, and tool availability.
Despite advancements in technology, periodic calibration remains preferred over extended intervals. New trends include predictive calibration based on notifications. Complex systems and industry technology adoption drive market growth, particularly with the use of Ethernet, Fieldbus, HART, and wireless connectivity.
The Field Devices Calibration Services market is experiencing significant growth, with technologies and devices playing a crucial role. Calibration is essential for maintaining accuracy and precision in various industries. Environments and temperatures are critical factors in calibration. Companies offer calibration services for a range of devices, including those used for pressure, temperature, and flow measurement.
Calibration is important for compliance with regulations and quality standards. Proactive calibration can prevent downtime and improve efficiency. The use of advanced technologies like IoT and AI is driving innovation in calibration services. The market is expected to continue growing due to increasing demand for accurate and reliable measurements in various sectors.
Market Challenges
Calibration services for field devices can result in equipment downtime, decreasing productivity and profit. Improper calibration can lead to manufacturing delays, exceeding schedules, and lower yields. Inaccurate calibration can pose risks such as product recalls and revenue loss. Detailed reports and rechecks add to costs.
Industrial productivity loss is a concern, limiting frequent calibration. Documentation errors are common in large plants, increasing the challenge for calibration service vendors. These factors hinder market growth during the forecast period.
The Field Devices Calibration Services Market faces several challenges in ensuring accurate and reliable measurements. One major challenge is the complexity and diversity of field devices, requiring specialized knowledge and equipment for calibration. Another challenge is the need for regular calibration to maintain optimal performance and comply with regulatory requirements.
Additionally, the decentralized nature of field devices makes logistics and scheduling a significant challenge. Furthermore, the use of outdated or incompatible calibration equipment can hinder efficiency and accuracy. Lastly, the high cost of calibration services and the need for rapid turnaround times add to the complexity of the market.
Research report provides comprehensive data on impact of trend, driver and challenges – Request a sample report!
Segment Overview
Type
1.1 Temperature and humidity calibration
1.2 Electrical calibration
1.3 Pressure calibration
1.4 Mechanical calibration
End-user
2.1 Process industries
2.2 Discrete industries
Geography
3.1 North America
3.2 Europe
3.3 APAC
3.4 South America
3.5 Middle East and Africa
1.1 Temperature and humidity calibration- Field Devices Calibration Services market involves the regular maintenance and adjustment of various equipment to ensure accurate and reliable measurements. This essential process enhances product quality and maintains regulatory compliance. Service providers offer on-site calibration, reducing downtime and increasing efficiency. With advanced technology and skilled technicians, calibration services ensure optimal performance and longevity of field devices.
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 Field Devices Calibration Services Market encompasses the global provision of calibration services for various technological instruments, including heat calibration devices, pressure calibration devices, temperature calibration devices, and optical calibration devices. This market plays a crucial role in ensuring measurement accuracy and interoperability testing in diverse industries, facilitating the globalization of trade.
Environmental protection is a significant consideration in calibration services, as technological advancements such as 5G technology and communication equipment necessitate stringent quality assurance mechanisms. The market ecosystem includes system integrators, calibration service providers, and instrumentation services.
Social and political factors influence the market dynamics, with training and certification playing essential roles in market growth. Calibration services are integral to maintaining the reliability and precision of devices in temperature and humidity-controlled environments.
Market Research Overview
The Field Devices Calibration Services Market encompasses the provision of services to ensure the accuracy and precision of various field devices used in industries. These devices include pressure transmitters, temperature probes, flowmeters, and level indicators, among others. Calibration services involve the periodic verification and adjustment of these devices to maintain their optimal performance.
Technological advances have led to the development of advanced calibration techniques such as electronic calibration and self-diagnostic calibration. Calibration is crucial to prevent process upsets, ensure product quality, and maintain regulatory compliance. Devices are calibrated against traceable standards to ensure accuracy and reliability.
Calibration services may be provided on-site or off-site, depending on the client’s requirements. Calibration intervals vary depending on the device type and application. Calibration services may also include repair and maintenance of field devices. Calibration is an essential aspect of process automation and control, and the market for these services is expected to grow significantly in the coming years.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Type
Temperature And Humidity Calibration
Electrical Calibration
Pressure Calibration
Mechanical Calibration
End-user
Process Industries
Discrete Industries
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: [email protected]
Website: www.technavio.com/
SOURCE Technavio
