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Flowmeter Calibration Market size is set to grow by USD 80.9 million from 2024-2028, Calibration eliminates uncertainty of flowmeters to boost the market growth, Technavio

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NEW YORK, Aug. 12, 2024 /PRNewswire/ — The global flowmeter calibration market size is estimated to grow by USD 80.9 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 10.88% during the forecast period. Calibration eliminates uncertainty of flowmeters is driving market growth, with a trend towards emergence of online monitoring and self-contained field calibration. However, calibration is not always reliable poses a challenge. Key market players include ABB Ltd., Azbil Corp., Badger Meter Inc., Brooks Instrument LLC, Colorado Engineering Experiment Station Inc., Emerson Electric Co., Endress Hauser Group Services AG, Euroloop Calibrations BV, Fortive Corp., HOFFER FLOW CONTROLS INC., Honeywell International Inc., KROHNE Messtechnik GmbH, Laboratory Testing Inc., Polycontrols Technologies Inc., Schneider Electric SE, Siemens AG, Sierra Instruments Inc., TransCanada Calibrations Ltd., VSL BV, and Yokogawa Electric Corp.

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

End-user (Oil and gas, Water and wastewater, Mining and minerals, Chemicals, and Others), Distribution Channel (OEM service providers and Third-party service providers), and Geography (Europe, North America, APAC, Middle East and Africa, and South America)

Region Covered

Europe, North America, APAC, Middle East and Africa, and South America

Key companies profiled

ABB Ltd., Azbil Corp., Badger Meter Inc., Brooks Instrument LLC, Colorado Engineering Experiment Station Inc., Emerson Electric Co., Endress Hauser Group Services AG, Euroloop Calibrations BV, Fortive Corp., HOFFER FLOW CONTROLS INC., Honeywell International Inc., KROHNE Messtechnik GmbH, Laboratory Testing Inc., Polycontrols Technologies Inc., Schneider Electric SE, Siemens AG, Sierra Instruments Inc., TransCanada Calibrations Ltd., VSL BV, and Yokogawa Electric Corp.

Key Market Trends Fueling Growth

New technologies, such as online monitoring and self-contained field calibration, are transforming the flowmeter calibration market. These advancements necessitate robust calibration protocols for maintaining accuracy. Self-contained field calibration devices, like magmeters, thermal mass, or dual-rotor turbine meters, support online monitoring and calibration. These systems keep historical data records, reducing downtime and associated risks. Online calibration maintenance software, a cost-effective investment, stores data, displays results, and evaluates flowmeter performance and lifespan. The flowmeter’s performance, influenced by environmental and fluid conditions, determines the calibration lifespan, ensuring longer retention across various applications. 

The Flowmeter Calibration Market is experiencing significant growth due to increasing demands in various industries, including chemicals, HVAC, jet engines, and wastewater treatment. Modern flowmeters, such as Coriolis, Turbine, and Magnetic, are trending, with the implementation of AI, IoT, and wireless networks for digital enablement and real-time scenarios. Precision and accuracy are crucial for industries like pharmaceuticals, agriculture, and food and drinks, driving the need for advanced calibration technology. Chemical industries, OEMs, and raw material manufacturers require frequent calibration to maintain production efficiency and reduce repair costs from device malfunctions. Laboratory calibration and in-house calibration are popular methods, with contamination control and skilled manpower essential for maintaining calibration accuracy. Industries like oil and gas, aerospace, defense, electronics, and water and wastewater treatment are investing in advanced flow calibration equipment for cost management and disruption mitigation. Sanitary applications and hygiene practices are also crucial for industries like food and drinks. The future of flowmeter calibration lies in technology implementation, machine learning, and cost-effective solutions. 

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Market Challenges

Flowmeter calibration is a crucial process for ensuring accurate measurement of fluid flow. End-users conduct calibration according to a scheduled plan. Calibration involves comparing the flowmeter with a standard and correcting any deviation. Flowmeters can be calibrated in certified laboratories like NIST, ensuring master meter accuracy and NIST certification. Alternatively, calibration can be done using an accurate weigh scale approved by NIST. However, calibrated conditions may lead to inaccuracies when used in specific applications. For instance, a flowmeter calibrated in clean water may not accurately measure wastewater with high suspended solids. Unexpected turbulence, pipe length, material, roughness, and incident angle can also impact performance and lead to systematic, random, and spurious errors. As a professional, it’s essential to consider these factors to maintain measurement accuracy.The Flowmeter Calibration Market faces several challenges in various industries such as chemicals, HVAC, jet engines, and water and wastewater. These challenges include the implementation of modern smart devices, AI, IoT, and wireless networks for digital enablement and machine learning. Ensuring accuracy and precision in calibration is crucial for industries dealing with raw materials and industrial activities. Cost management is a significant concern for OEMs using Coriolis, Turbine, Magnetic flow meters, and other flow measurement technologies in sanitary applications for sectors like pharmaceuticals, agriculture, food and drinks, electronics, and oil and gas. Calibration frequency, contamination, and skilled manpower are key factors impacting calibration costs and device malfunctions. Disruptions due to in-house calibration and hygiene practices in industries like aerospace, defense, and HVAC are also challenges. Real-time scenarios require efficient calibration solutions to minimize repair costs and ensure optimal performance. Calibration laboratories play a vital role in maintaining the accuracy of flow meters in various applications. However, factors like contamination and calibration frequency pose challenges to the calibration process. In conclusion, the flow meter market demands continuous innovation and cost-effective solutions to address these challenges.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This flowmeter calibration market report extensively covers market segmentation by

End-user 1.1 Oil and gas1.2 Water and wastewater1.3 Mining and minerals1.4 Chemicals1.5 OthersDistribution Channel2.1 OEM service providers2.2 Third-party service providersGeography 3.1 Europe3.2 North America3.3 APAC3.4 Middle East and Africa3.5 South America

1.1 Oil and gas- In the oil and gas sector, flowmeters play a crucial role in managing the transportation of various fluids and gases through pipelines. The velocity of the medium in these pipes can change continuously due to factors like internal diameter and roughness, necessitating calibration services using the same fluid and ideal pipework setup. Calibration is essential as flowmeters must operate accurately in the oil and gas industry’s specific conditions. Uneven velocity distribution impacts measurement values, but calibration ensures precise fiscal measurements under challenging situations and varying environmental conditions. Regular calibration services reduce maintenance and repair costs for end-users. The oil and gas industry’s reliance on flowmeters and the necessity for their accurate calibration will fuel market growth during the forecast period.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022) – Download a Sample Report

Market Research Overview

The Flowmeter Calibration Market encompasses various industries such as oil and gas, aerospace, defense, electronics, and more, requiring regular calibration of their flow measurement equipment for optimal performance. Real-time scenarios demand precise and accurate measurement, and calibration is crucial to prevent costly repair costs due to device malfunctions. Hygiene practices are essential in industries like pharmaceuticals, food and drinks, and chemical industries to ensure product quality and safety. Flow calibration equipment finds extensive applications in modern industries like industrial manufacturing, electrical and electronics, and HVAC systems. The integration of technology such as AI, IoT, and wireless networks enhances digital enablement and cost management. Calibration frequency is a critical factor, with laboratory calibration ensuring high accuracy and precision. Contamination and skilled manpower are significant challenges, while in-house calibration offers cost savings and disruption reduction. Raw materials and industrial activities necessitate various flow meter types like Coriolis, Turbine, Magnetic, and Sanitary applications, catering to diverse sectors like water and wastewater treatment, OEMs, and wastewater treatment. Accuracy, precision, and technology implementation are key considerations, with self-cleaning systems and calibration frequency crucial for industries like jet engines and HVAC systems.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userOil And GasWater And WastewaterMining And MineralsChemicalsOthersDistribution ChannelOEM Service ProvidersThird-party Service ProvidersGeographyEuropeNorth AmericaAPACMiddle East And AfricaSouth America

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: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Competition Bureau publishes report on Canada’s Competition Summit 2024

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GATINEAU, QC, Nov. 14, 2024 /CNW/ – Today, the Competition Bureau published a report highlighting the key takeaways from “Canada’s Competition Summit 2024: Market Dynamics in the AI Era,” which took place in Ottawa and virtually on September 16, 2024.

The event featured experts from domestic and international competition authorities, regulatory bodies, businesses and non-governmental organizations, as well as the legal and academic communities. The discussions focused on:

the current AI landscape;the impacts of AI on competition across markets; and,international and domestic regulatory approaches to AI.

The report published today summarizes 5 key takeaways from these discussions:

AI is having an impact on competition across sectors of the economy, presenting both opportunities and risks.Regulatory frameworks need to adapt to address the unique challenges posed by AI.International cooperation is crucial for effective regulation and enforcement in AI-driven markets.There is a need for transparency in AI systems to ensure accountability and consumer trust.The role of big tech in AI development is contentious.

The Bureau thanks all attendees, panelists and speakers, who helped advance the conversation on these emerging issues related to AI. We look forward to continuing to discuss competition policy issues and opportunities at Competition Summits in the years to come.

Quotes

“As Canada’s competition watchdog, the Competition Bureau needs to be at the forefront of AI and understand its impact on the competitive landscape. I am thankful for the important contributions from our panelists and speakers at this year’s Summit, as they will help us continue to build our understanding of AI’s impacts on competition.”

Matthew Boswell,
Commissioner of Competition

Quick facts

This year’s event was the fifth annual edition of Canada’s Competition Summit. Previous Summits covered digital enforcement (2020), competition and growth (2021), green growth (2022), and whole-of-government approaches to policy (2024).Over 500 participants from Canada and abroad attended the 2024 Summit.This year’s Summit is part of our ongoing work to better understand AI, how it might affect competition, and how we can address potential anticompetitive harm from AI and promote competition in AI markets. This work also includes cross-governmental collaboration through the Canadian Digital Regulators Forum and a consultation on the Discussion Paper on Artificial intelligence and competition earlier in 2024.In keeping with the theme of this year’s Summit, this report was drafted using a combination of human effort and AI technology. This is a first for the Bureau. We used an artificial intelligence program to summarize the discussions held at Canada’s Competition Summit 2024 and to develop the first draft of these key takeaways. The final content was fact-checked and quality-controlled by Bureau personnel.

Related products

Report on Summit 2024: Competition in the AI EraCanada’s Competition SummitCompetition Bureau to host summit on competition and artificial intelligence this SeptemberCanada’s Competition Summit 2024: Competition Bureau releases details about panels and expert participants

Associated links

Exploring policy approaches to unlock competition (2023)The Competition and Green Growth Summit (2022)The Competition and Growth Summit (2021)Digital Enforcement Summit (2020)Artificial intelligence and competition: Discussion paper (2024)Canadian Digital Regulators Forum

General information:

Request for information | Complaint form

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The Competition Bureau is an independent law enforcement agency that protects and promotes competition for the benefit of Canadian consumers and businesses. Competition drives lower prices and innovation while fueling economic growth.

SOURCE Competition Bureau

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Shipt Saves the Season with Unbeatable Convenience, Exclusive Promotions, and Membership Savings

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Get everything from gifts to hosting essentials reliably delivered via Shipt

BIRMINGHAM, Ala., Nov. 14, 2024 /PRNewswire/ — This holiday season, Shipt is spreading cheer with delightful same-day delivery, unmatched deals, and everything customers need all season long. From hosting family dinners to searching for the perfect gifts to grabbing last-minute holiday essentials and toasting to the new year*, Shipt helps ease the stress with exclusive promotions and 50% off its annual membership for a limited time.

To sweeten holiday shopping, Shipt is launching Season of Savings, an annual event packed with discounts and surprises on the products customers want all season long. Plus, Shipt has added over 2,000 new retail locations nationwide this year, including Ulta Beauty at Target, The Fresh Market, Lowe’s, and local favorites like Giant Eagle and Save Mart, giving members even more curated options. These new additions join favorites like Target, CVS, and Petsmart, as well as beloved local grocers.

SHIPT MEMBERSHIP: CONVENIENCE MEETS HOLIDAY MAGIC
Shipt’s $49 annual membership promotion (regularly $99) is now available through January 4, 2025, making it easier than ever to enjoy same-day delivery from your favorite stores. With an annual membership, customers get unlimited same-day delivery on orders over $35 and exclusive savings, and a range of members-only perks.

DEALS ACROSS ALL HOLIDAY NEEDS

In addition to the membership promotion, Shipt’s Season of Savings also features incredible deals across a wide variety of popular holiday categories, including:

Season-Long Deals (November 1-January 1)

$15 off your order of $60 or more with code HOLIDAY15**Half-off annual membership $49 (reg. $99) with code SHIPTGIFT

Thanksgiving Deals

November 10-16, at Target and all grocery stores***:Spend $25, get $10 on household essentialsBuy one, get one 50% off on bath and body productsBuy one, get one 30% off on cough, cold, and flu, pain and fever, vitamins and supplements30% off kitchen and diningSpend $20, save $5 on baby essentials30% off pet essentials10% off turkeyNovember 17-23: $10 off order of $50+ for those with Shipt student membershipsNovember 25-27: spend $35, save $10 on on last-minute Thanksgiving essentials at all grocery stores and Target****

December Holiday Deals

December 1-14: 25% off orders of $40 or more from Ulta Beauty at Target, CVS, Walgreens, PetSmart, Petco, Lowes, Carters, Office Depot, and Office Max (max savings of $10)*****December 8-24: 20% off top gifting categories at Target + Meijer (Shipt members only)******

ALL-NEW GIFT CARD EXPERIENCE
Not sure what to give that special someone? A Shipt gift card is the perfect gift!

A Shipt gift card never expires, and with an all-new digital facelift, including multiple card designs and e-gifting options, a Shipt gift card lasts beyond the holiday season. And even better, take advantage of the season-long 50% off membership offer when purchasing an annual membership gift card. Terms and conditions apply. Please check out shipt.com/gift for more information.

SHIPT TO THE RESCUE: HOW IT WORKS
No matter how hectic the holiday calendar gets, Shipt makes shopping stress-free:

Download the Shipt app or visit Shipt.com to sign up for a membership or take advantage of a 14-day free trial**. Target Circle 360 members can enable access to the Shipt marketplace by visiting shipt.com/target-circle-360. Choose the store you wish to order from.Build your shopping list with a wide range of categories, from fresh groceries to festive decorations.Select a convenient delivery window and a trusted shopper with Shipt will shop your order, communicating with you about out-of-stocks, relevant substitutions and where they are in the shopping process (option to select back-ups for products out of stock ahead of time).

To learn more about Shipt’s holiday offers and start saving today, visit www.shipt.com or download the Shipt app.

About Shipt
Shipt is a retail tech company that connects people to reliable, high-quality delivery with a personal touch. Through the power of technology, Shipt connects customers to the things they want from the stores they love, workers to new earning opportunities, and retail businesses to more satisfied customers. Headquartered in Birmingham, Alabama, Shipt brings people the flexible solutions they need with the above-and-beyond service they expect. Shipt is an independently operated subsidiary of Target Corp. and is available to 80% of the U.S. population. For more information, please visit Shipt’s Newsroom.

*States with alcohol delivery availability: Alabama, Arizona, California, Connecticut, District of Columbia, Florida, Hawaii, Illinois, Kentucky, Massachusetts, Michigan, Minnesota, Missouri, North Carolina, Nebraska, Ohio, Tennessee, Texas, Georgia, Iowa, Idaho and Mississippi

**Offer valid for new customers only, returning customers are ineligible. 14 day trial will renew at the applicable membership rate at the end of the trial. Cancellation available free of charge anytime during trial. Offer is subject to Shipt Promotion Terms and Conditions. Deliveries under $35 with a membership will incur a $7 fee. All orders with alcohol (where available) may incur a $7 alcohol fee. Service fees may apply and will vary by retailer and location. See Terms of Service

***Offer expires 11/16/2024. Discount available at select retailers and applies to select items. Discount applied automatically at check out for qualifying orders. Limit one per order. Promotion is subject to Terms and Conditions.

****Purchase of qualifying products at select retailers of $35 or more must be placed by 11/27/2024 at 11:59 p.m. HT to qualify for $10 off, which will automatically apply to qualifying order at checkout. Limit 1 credit per member. Offer is subject to Shipt Promotional Terms and Conditions.

*****Store availability varies by location. Offer valid 12/1/24 through 12/14/24. Carter’s, CVS, Lowe’s, Office Depot OfficeMax, PetSmart, Petco, Walgreens, or Ulta Beauty at Target order of $40 or more must be placed by 12/14/24 at 11:59 p.m. HT to qualify for max savings of $10, which will automatically apply to qualifying order at checkout. Offer not valid for orders containing alcohol items. Limit 1 credit per member. Offer is subject to Shipt Promotional Terms and Conditions.

******Purchase of qualifying products at Target or Meijer must be placed by 12/24/2024 at 11:59 p.m. HT to qualify for 20% off, which will automatically apply to a qualifying order at checkout. Limit 1 credit per member. Offer is subject to Shipt Promotional Terms and Conditions.

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SOURCE Shipt

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Kearney Launches Geopolitical Service Line to Give Executives New “One-Stop-Shop” for Navigating Elevated Global Uncertainty

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WASHINGTON, Nov. 14, 2024 /PRNewswire/ — Kearney, a leading global management consulting firm, today announced the launch of its newest offering, aimed at helping clients steer their companies through our ever-changing world. Kearney’s Geopolitical Dynamics provides executives with a holistic solution to navigate today’s elevated instability and its impact on business.

In a new era marked by persistent economic uncertainty, regulatory shifts, great power competition, and corresponding escalations, executives face an unprecedented volume of challenges and new opportunities. A recent Kearney assessment determined that fewer than 20% of Fortune 500 companies are ready for this “new era,” defined by heightened geopolitical and economic volatility, a shift from globalization to regionalization, and the emergence of artificial intelligence.

While traditional geopolitical advisory models served clients well in a more stable environment, today’s persistent uncertainty calls for a new approach. Kearney is stepping up with a comprehensive, end-to-end solution that enables executives to proactively navigate complexity and transform it into a catalyst for opportunity. Geopolitical Dynamics offers clients a path to accelerate the development of their in-house capabilities to navigate the implications for their strategy, operations, and people, mitigating risks and capitalizing on emerging trends along the way.

“After 40 years of operating in a globalized landscape, executives now face the urgent challenge of building internal capabilities to navigate heightened geopolitical instability. They must address immediate threats to business while managing long-term planning of markets, supply chains, and the broader enterprise,” said Drew DeLong, Global Lead of Geopolitical Dynamics at Kearney. “This new service is designed to give executives a one-stop shop to navigate with confidence and stay ahead.”

Geopolitical Dynamics offers a comprehensive suite of services that covers every stage of geopolitical management:

Granular Business Intelligence: Anticipating the “what’s next” and “what’s to come” at a granular level in partnership with an expansive global network of intelligence, government, and industrial partners.

Executive Priority Setting: Aligning executive teams and boards around where and why priorities should be set based on all readily available intelligence and business-specific nuances using tabletop exercises, granular scenario planning, and targeted diligences.

Operational Execution: Mobilizing supply chains and enterprise footprints to respond to immediate and long-term needs (including contingencies), leveraging nearly 100 years of Kearney’s heritage and excellence in strategic operations.

Geopolitical Org Ownership: Defining who and how geopolitics are owned and managed within the business today—at the board, CEO staff, and management levels—including the charting of Geopolitical Units and deploying Government Affairs to drive business outcomes through targeted government engagement that drives competitive industrial strategy.

This approach provides a simple but powerful solution to anticipate, plan, and respond faster to emerging threats and opportunities with clarity, speed, and ownership while minimizing disruption to the business—something that is critical to the executive agenda today.

“Boards and leadership teams can no longer afford to treat geopolitical matters in isolation from the standard course of business,” noted Colette LaForce, independent Board Director, Kearney advisor, and former CXO of Dell Services and AMD. “The C-suite needs a streamlined solution that cuts through generic intelligence, aligns our teams, and enables rapid response. Kearney has built a model that is designed to do just that for organizations of all sizes and in all sectors.”

This offering will draw on Kearney’s expansive capabilities to offer executives truly differentiated insights: product design analysis from PERLab, on-the-ground data from reshoring experts, market insights from the Consumer Institute, detailed trends from the Supply Chain Institute, and macroeconomic forecasts from the Global Business Policy Council.

For more information about how Kearney’s Geopolitical Dynamics capability will help you navigate the road ahead, please visit Geopolitical Dynamics or contact one of our experts listed below.

Drew DeLongDrew.Delong@kearney.com

Doug MehlDoug.Mehl@kearney.com

Ben T. Smith, IVBen.Smith@kearney.com

About Kearney

Kearney is a leading global management consulting firm. For nearly 100 years, we have been a trusted advisor to C-suites, government bodies, and nonprofit organizations. Our people make us who we are. Driven to be the difference between a big idea and making it happen, we work alongside our clients to regenerate their businesses to create a future that works for everyone. To learn more about Kearney, please visit www.kearney.com.

Press contact 

US media contact:
Meir Kahtan
MKPR
mkahtan@rcn.com
+1 917-864-0800

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SOURCE Kearney

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