Global Field Devices Calibration Services Market 2017-2021
About Field Devices Calibration Services
Calibration is a service carried out to compare the performance of a field device/instrument against the standard specifications. It identifies the fault of the instrument, reduces the downtime of an instrument, and enhances productivity. Calibration services are one of the most important services under instrumentation services, as they are a must for testing and maintenance devices. These services help to maintain precision and accuracy of devices, and record and rectify the deviations in performance from standard specifications.
Technavio’s analysts forecast the global field devices calibration services market to grow at a CAGR of 6.19% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global field devices calibration services market for 2017-2021. To calculate the market size, the report considers new installations of calibrators and calibration services of field devices.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Field Devices Calibration Services Market 2017-2021
Technavio recognizes the following companies as the key players in the global field devices calibration services market: ABB, Endress+Hauser, Exova, Siemens, and Yokogawa.
Other Prominent Vendors in the market are: Honeywell, Keysight Technologies, Transcat, Thermo Fisher Scientific, Rohde & Schwarz, Branom Instrument, Rockwell Automation.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is shift from periodic to predictive calibration. In the process industries, there is a major need to maintain accuracy in the operational process, thereby leading to a high demand for calibration of instruments in the industry. Initially, there were instrument shops that offered calibrating and repairing instruments, with tools such as black body devices, dead weight testers, and handheld instruments to calibrate instruments in the field.”
According to the report, one driver in the market is maximize production yield. Calibration is a necessary process required for the safety of production and product's final quality. The continuous need for maintaining quality in terms of production in industries enforces the maintenance of a proper schedule for calibrating instruments. Industries need to adhere to many factors to maintain the benchmark quality set by accrediting bodies, regulatory agencies, quality programs, and auditors. All these factors add up to a higher demand for calibration services on the factory floor. The implementation of these services will have a major impact on the production in the industry.
Further, the report states that one challenge in the market is loss of industrial productivity during device calibration. Calibration services can cause downtime of the equipment, which may lead to the reduction of productivity and profit earning. These instrumentation services performed throughout the production plant can cause a halt in the industrial operation and cause a loss of revenue. In addition, if improper calibration is performed, it can lead to a delay in the manufacturing of their product. The time can exceed the original schedule, and the yield may get lower than the benchmarked parameters.
ABB, Endress+Hauser, Exova, Siemens, Yokogawa, Honeywell, Keysight Technologies, Transcat, Thermo Fisher Scientific, Rohde & Schwarz, Branom Instrument, Rockwell Automation.