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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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Technology

Cat® Simulators New Hydraulic Mining Shovel System Builds Operator Skills for Mine Sites

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Simformotion™ LLC, a leader in heavy equipment simulator training solutions, announces the release of the new Cat® Simulators Hydraulic Mining Shovel System.

PEORIA, Ill., Sept. 23, 2024 /PRNewswire-PRWeb/ — Simformotion™ LLC – a leader in heavy equipment simulator training solutions – announces the release of the new Cat® Simulators Hydraulic Mining Shovel System. Operator trainees can utilize the system inside a classroom or at satellite mine locations.

“The new Hydraulic Mining Shovel simulator system is the cornerstone of our Cat Simulators mining models. The system trains students and operators using authentic Cat controls and teaches applications found on real-world job sites,” says CEO Lara Aaron.

The hands-on training system is set in a mining environment and teaches learners how to operate the Hydraulic Mining Shovel, including inspecting the machine, spotting and properly loading trucks, and more. Correct, efficient operation increases safety, production and cost savings. Simulation is a safe alternative to using actual machines for heavy equipment operator training. Students and operators can train anytime and anywhere using simulators — no need to take a costly machine out of production, worry about the weather or, most importantly, worry about the operator’s safety.

“The new Hydraulic Mining Shovel simulator system is the cornerstone of our Cat Simulators mining models. The system trains students and operators using authentic Cat controls and teaches applications found on real-world job sites. We often hear of the struggles to find skilled operators. Cat Simulators systems help companies build their own workforce,” says CEO Lara Aaron.

The Cat Simulators Hydraulic Mining Shovel system is available in multiple languages and includes SimU Campus™, a built-in reporting software that records and generates reports of learners’ simulation sessions and compares their performance to Caterpillar benchmarks. The system features authentic Cat controls, a motion system, exclusive walkaround machine inspection training, and a companion SimScholars™ curriculum, making the training package a unique offering.

The companion SimScholars online curriculum is a one-to-one match with the simulator model and can be used in the classroom or for remote learning. It is an interactive, turn-key solution complete with instructor guides, videos, quizzes and more. Integrate the Cat Simulators Hydraulic Mining Shovel system and its curriculum together for a unique, blended learning experience.

For even more training value and for a more immersive experience, add VR Edition. With the VR headset and patented VR Now technology, users experience a larger view of the virtual environment with greater depth perception. The simulator is portable and easy to move from a training room to a trailer to satellite locations.

About Simformotion™ LLC

©Copyright 2024 Simformotion™ LLC is a leader in heavy equipment simulator training solutions. Simulation can help address initiatives such as safety and production; while ensuring training can be delivered anytime day or night, regardless of weather conditions. Cat Simulators are chosen as training solutions in such markets as mining, construction, forestry, government, and trade and vocational schools. Simformotion™ LLC is a licensee of Caterpillar Inc. As used herein, “Simformotion” means Simformotion™ LLC, a Delaware limited liability company.

About Caterpillar Inc.

About Caterpillar Inc. With 2023 sales and revenues of $67.1 billion, Caterpillar Inc. is the world’s leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. For nearly 100 years, we’ve been helping customers build a better, more sustainable world and are committed and contributing to a reduced-carbon future. Our innovative products and services, backed by our global dealer network, provide exceptional value that helps customers succeed. Caterpillar does business on every continent, principally operating through three primary segments – Construction Industries, Resource Industries and Energy & Transportation – and providing financing and related services through our Financial Products segment. Visit us at caterpillar.com or join the conversation on our social media channels at caterpillar.com/en/news/social-media.html.

CAT, CATERPILLAR, LET’S DO THE WORK, their respective logos, “Caterpillar Corporate Yellow,” and the “Power Edge” and “Modern Hex” trade dress, as well as corporate and product identity used herein, are trademarks of Caterpillar and may not be used without permission. www.cat.com / www.caterpillar.com Third party trademarks are the property of their respective owners.

Media Contact
Kim Roberts, Simformotion, 1 3096703200, kroberts@simformotion.com, https://simformotion.com/

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SOURCE Simformotion

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GR0 CEO Kevin Miller Snags C-Suite Insiders CEO of the Year Award for Brand Optimization

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GR0 Co-Founder and CEO Kevin Miller Honored for Excellence in Leadership, Innovation, and Industry Impact

LOS ANGELES, Sept. 23, 2024 /PRNewswire-PRWeb/ — Kevin Miller, Co-Founder and CEO of GR0, was awarded CEO of the Year for brand optimization from the prestigious C-Suite Leadership Awards Program. This recognition underscores Miller’s outstanding leadership, innovation, and transformative impact in the digital marketing industry.

Recognized for celebrating excellence in senior executives, the C-Suite Leadership Awards Program highlights remarkable achievements in business. Emphasizing the importance of exceptional leadership, innovation, and industry impact, the program honors high-performing executives who inspire success while shaping the future of their companies.

As Co-Founder and CEO of GR0, Kevin Miller has propelled his company to the forefront of the digital marketing industry. Leveraging extensive expertise from roles at Google and Open Listings, Miller has spearheaded notable successes for GR0, including accolades such as a Platinum dotCOMM award in 2024 and a Best SEO Company award from Clutch in 2021.

Assisting both D2C and B2B clients, GR0 is known for delivering measurable growth and impactful results as a trusted agency for businesses seeking transformative omnichannel digital marketing solutions.

Miller’s dedication to his team and commitment to fostering an exemplary working environment have not gone unnoticed. He was recognized with a Best CEO Award from Glassdoor and was instrumental in GR0 being named a Best Company for Women by Great Place to Work in 2024. These achievements underscore Miller’s holistic approach to leadership, focusing on business success and employee well-being.

For further details on Miller’s remarkable achievements and to explore GR0’s transformative digital marketing strategies, visit GR0’s website.

About GR0: A leading omnichannel digital marketing agency based in Los Angeles, GR0 delivers exceptional growth and impactful results for a diverse clientele. With a record of innovation and recognition in digital marketing, GR0 sets benchmarks and drives success stories for businesses worldwide.

Media Contact

GR0 Agency, GR0, +1 (310) 439-1887, performancepr@gr0.com, gr0.com 

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First Pacific Bank expands its instant payments offerings with Finastra, driving growth

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With Finastra Payments To Go, the bank enhances its payments infrastructure and unlocks new opportunities 

LAKE MARY, Fla., Sept. 23, 2024 /PRNewswire/ — Finastra today announced that First Pacific Bank, a Southern California-based community bank that offers custom financial solutions for individuals and businesses, has selected Finastra Payments To Go to modernize its payments infrastructure. The cloud-based, SaaS payments hub solution will help the bank to deliver FedNow send and receive services 24/7, support ISO 20022 compliance, and enable its projected growth. 

As part of Finastra’s commitment to Open Finance, Payments To Go offers seamless connectivity to other software providers, fintechs, and financial institutions, giving banks the flexibility needed to deploy modern and agile payment solutions quickly and efficiently.

“Our selection of Payments To Go was driven by the need for a robust instant payments platform that supports our growth and innovation plans, particularly as we expand our commercial business,” said Sharokin Badal, SVP, Director of Deposit and Treasury Services at First Pacific Bank. “With Finastra, our customers will benefit from additional payment offerings, enabling better cash flow and financial management. The modernity and scalability of Payments To Go, along with its seamless integration with our existing vendors, make it the ideal solution.”

Deployed on Microsoft Azure cloud, Payments To Go provides the bank with the agility needed to offer new and innovative payments rails, including FedNow Service. As one of the first software providers in the industry to complete certification for the FedNow Service and ISO 20022 compliance, Finastra is well-positioned to provide financial institutions with the ability to deliver instant payment services around the clock, with more than 200 customers across the US able to launch FedNow Service through its solutions.

“Our payments as a service solution provides First Pacific Bank with a modern infrastructure that enables scalability and an enhanced customer experience,” said Radha Suvarna, Chief Product Officer, Payments at Finastra. “We’re pleased that the bank selected us to not just prepare them for regulatory and compliance requirements, but to support the team as they meet the moment to unlock new opportunities in payments innovation.”

“Readiness for both ISO 20022 messaging standards for Fedwire and the FedNow Service are critically important for community-based financial institutions to stay competitive and compliant as the instant payments space continues to evolve,” said Erika Baumann, Director Commercial Banking and Payments at Datos Insights. “By aligning with global standards and embracing new payment rails, community banks are well positioned to improve their offerings.”

To learn more about Payments To Go, visit Finastra at Sibos 2024 on stand G30.

About Finastra
Finastra is a global provider of financial services software applications across Lending, Payments, Treasury and Capital Markets, and Universal (retail and digital) Banking. Committed to unlocking the potential of people, businesses and communities everywhere, its vision is to accelerate the future of Open Finance through technology and collaboration, and its pioneering approach is why it is trusted by ~8,100 financial institutions, including 45 of the world’s top 50 banks. For more information, visit finastra.com.

About First Pacific Bank
First Pacific Bank is a wholly owned subsidiary of First Pacific Bancorp (OTC Pink: FPBC) and is a growing community bank catering to individuals, professionals, and small-to-medium sized businesses throughout Southern California. With a history that spans 17 years, the Bank offers a personalized approach, access to decision makers, a broad range of solutions, and a commitment to delivering an exceptional customer experience. First Pacific Bank operates locations in Los Angeles County, Orange County, San Diego County, and the Inland Empire. For more information, visit firstpacbank.com or call 888.BNK.AT.FPB.

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