The global field devices calibration services market is expected to grow at a CAGR of 6.19% during the period 2017-2021.
The report, Global Field Devices Calibration Services Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the Key vendors operating in this market.
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.