The global instrumentation services market is expected to post a CAGR of nearly 6% during the period 2018-2022, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global instrumentation services market from 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the growing installed base of instrumentation and control systems. In the process and discrete manufacturing industries, there is a large installed base of instrumentation and control systems, which is attributable to the role of instrumentation and control systems in enabling enterprises to have improved visibility and control of their processes. Most of the discrete manufacturing industries have been investing in automation and control systems to streamline cumbersome processes and achieve competitive advantage over the last two decades, leading to the growth of the market.
This market research report on the global instrumentation services market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period.
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In this report, Technavio highlights the on-site deputation of service personnel as one of the key emerging trends in the global instrumentation services market:
Global instrumentation services market: On-site deputation of service personnel
The stress on equipment and industrial control system is increasing due to the growing demand for operating production facilities as close as possible to the designed capacity. In their quest to operate production facilities at a high CUF, industries are addressing all possible concerns that may lead to delays in production. So, there is an augmented focus on keeping accuracy and precision of instrumentation and control systems at an optimum level. This requires frequent calibration, maintenance and repair and testing of sensors, control valves, and controllers.
“Buyers in the global instrumentation services are increasingly demanding on-site deputation of service-personnel to prevent any breakdown or error in measurement and control systems. Therefore, players in the market need to change the way they have been rendering their services in order to be successful in the market. They need to upskill their technicians and service engineers so that they can resolve the possible maintenance and error issues at a site quickly,” says a senior analyst at Technavio for research on automation.
Global instrumentation services market: Segmentation analysis
This market research report segments the global instrumentation services market by end-user (process and discrete), service offerings (calibration, maintenance and repair, and commissioning and testing), and geographical regions (APAC, EMEA, and the Americas).
The process segment held the largest market share in 2017, accounting for nearly 79% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 and the region is expected to dominate the market through 2022.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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