Global Loop Calibrators Market: Introduction
- Loop calibrators are utilized to compare electric readings with regulatory standards and correct deviations of electrical measuring tools including transformer flicker meters, arm meters, angle meters, voltmeters, and watt meters
- Loop calibrators with high storage capacity are gaining importance among users. This factor is expected to drive the global loop calibrators market during the forecast period
- In order to meet the rising demand, leading manufacturers are focusing on introducing loop calibrators enabled with high data storage capacity
- Growing adoption of automation technologies across various sectors and the trend of capturing high-definition pictures and videos are driving the demand for loop calibrators with high storage capacity
- Increased product commercialization, rapidly developing industry infrastructure and growing demand for loop calibrators are strengthening the market foothold of loop calibrators and thereby significantly contribute to the revenue generation in the global market.
Global Loop Calibrators Market: Dynamics
- Increasing demand for intrinsically safe calibration is considered a key factor driving the market
- Intrinsic safety is a standard followed in industries that manage highly explosive environments. These industries need to ensure that their operations are ‘intrinsically safe’. This guarantees that devices do not discharge energy in amounts that can cause ignition upon contact with combustible materials.
- An equipment must be free from electric sparks, electromagnetic radiation, flames, mechanical friction, arcs, and impact and ionizing radiations
- Implication of safety solutions is gaining importance in different industries such as mining, petrochemical, and pharmaceutical. Thus, intrinsically safe calibration can limit the inherent risk associated with hazard-prone workplaces.
- Moreover, increasing demand for maintaining accuracy of operations in different industries is augmenting the demand for loop calibrators
- The market is witnessing rise in the number of third-party service providers to maintain the operating condition of an increasing number of industrial equipment. These service providers track instruments at their premises and notify end-users in advance if they fail to function properly on-site. At times, end-users employ calibrators to manage small deviations.
- Increasing adoption of Industrial Internet of Things (IIoT) has also prompted end-users to adopt loop calibrators, as they can be easily connected with cloud computing
- However, increasing popularity of multifunctional calibrators causes a serious threat to manufacturers of loop calibrators, thereby hindering the market for loop calibrators
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Global Loop Calibrators Market: Segmentation
- Based on type, the global loop calibrators market can be bifurcated into wired calibrators and wireless calibrators
- In terms of end-user, the global loop calibrators market can be segmented into third-party service providers and in-house maintenance teams
- Third-party service providers is anticipated to be the primary end-user of loop calibrators across the world in the near future
- The third-party service providers segment is anticipated to gain higher market share and thereby, maintain its leading position in the global market during the forecast period. The growing need for accurate reporting of the operational condition of industrial equipment has propelled the demand for loop calibrators.
Asia Pacific to Lead Global Market for Loop Calibrators
- In terms of region, the global loop calibrators market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- Asia Pacific is likely to dominate the global market for loop calibrators from 2019 to 2027, followed by Europe and North America
- The loop calibrators market in Asia Pacific is expected to witness significant growth during the forecast period, due to industrialization and continuous urbanization in developing countries such as China and India
Key Manufacturers Operating in Global Market
The global loop calibrators market was moderately fragmented in 2018. Key manufacturers operating in the global market are:
- General Electric Company
- Additel Corporation
- AMETEK, Inc.
- Spectris plc
- Fortive (Fluke)
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Global Loop Calibrators Market: Research Scope
Global Loop Calibrators Market, by Type
- Wired Calibrators
- Wireless Calibrators
Global Loop Calibrators Market, by End-user
- Third-party Service Providers
- In-house Maintenance Teams
Global Loop Calibrators Market, by Region
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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