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Field Devices Calibration Services Market | ABB Ltd., Element Metech AB, and Endress+Hauser Group Services AG to Emerge as Key Vendors | Technavio

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Scope of the report

This report provides a detailed analysis of the field devices calibration services market by end-user (process industries and discrete industries), type (temperature and humidity calibration, electrical calibration, pressure calibration, and mechanical calibration), and geography (North America, Europe, APAC, South America, and MEA). Also, the report analyzes the markets competitive landscape and offers information on several market vendors, including ABB Ltd., Element Metech AB, Endress+Hauser Group Services AG, Honeywell International Inc., Integrated Service Solutions Inc., Keysight Technologies Inc., Lesman Instrument Co., Rohde & Schwarz GmbH & Co. KG, Siemens AG, and Yokogawa Electric Corp. Ensuring adherence to process safety guidelines is a key trend in the global field devices calibration services market which will lead to significant market growth. The need to adhere to process safety standards laid out by regulatory bodies is increasing the demand for field devices calibration services among calibration laboratories. All these factors are leading to a positive outlook for the field devices calibration services market.

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Field Devices Calibration Services Market: Segmentation by Geography

The market is segmented into five regions encompassing North America, Europe, APAC, South America, and MEA. North America was the largest market for field devices calibration services in 2019. About 41% of the markets growth will originate from North America during the forecast period. Governments in the region are introducing stringent regulations that need to be followed by industries to maintain accuracy and safety. In addition, factors such as the increasing production of shale oil and gas in the US, investments in the power sector, expansion of the automotive industry, and others are expected to offer huge growth opportunities for market vendors during the forecast period. The US is the key market for field devices calibration services in North America.

Field Devices Calibration Services Market: Segmentation by End-user

The field devices calibration services market is segmented into two segments based on end-users comprising of process industries and discrete industries. The process industries segment exhibited a high demand for field devices calibration services in 2019. The rising adoption of the industrial internet of things (IIoT) in the oil and gas sector to derive real-time intelligence and situational awareness has increased the demand for calibration services. In addition, the presence of a large number of machinery and equipment in departments, such as drilling, service rigs, pumps, draw works, and mooring is creating a continuous demand for calibration services in the process industries segment.

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Field Devices Calibration Services Market: Growth Drivers

The need to maximize production yield will drive market growth. Calibration done at regular intervals will have proper control over the industrial operations with minimum involvement of experts. Neglecting calibration schedules can cause unscheduled production and machine downtime. It also leads to product and process quality issues and might result in product recalls and reputation loss. Thus, effective and periodic calibration services are crucial for enhancing industrial productivity as well as profit generation. Also, the growing need to adhere to many parameters set by accrediting bodies, regulatory agencies, quality programs, and auditors have increased the demand for calibration services. These factors are expected to fuel the growth of the global field devices calibration services market during the forecast period.

Field Devices Calibration Services Market: Market Overview

The field devices calibration services market is fragmented with the presence of several domestic and international players. Hence, companies need to adopt advanced technologies and marketing strategies to remain competitive in the market. ABB Ltd., Element Metech AB, and Endress+Hauser Group Services AG are some of the major market participants. Though the accelerating growth momentum will offer immense growth opportunities, the loss of industrial productivity during device calibration will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Market Sizing Methodology

Technavio uses a robust market sizing approach to estimate the total opportunity size for any market. Some of the examples of methodologies are shown for reference data is collected through both primary research (through industry interview with market participants and industry experts) as well as secondary research (through annual reports, press releases, company and industry presentations, industry associations, journals and in-house data repositories built over past 15 years).

Field Devices Calibration Services Market: Parent Market Overview

Technavio categorizes the global field devices calibration services market as a part of the global industrial machinery market. The parent global industrial machinery market covers companies engaged in the manufacturing of industrial machinery and components covering presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications.

Growth in the global industrial machinery market will be driven by the growing industrial output leading to capacity additions in process and discrete industries.

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GoSecure Announces Closing of $35M Growth Investment Round

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GoSecure, an established leader in the rapidly-growing Managed Detection and Response (MDR) market, today announced that it closed its Series E growth round at an oversubscribed $35M. W Investments Group, based in Montreal, led this second investment with guidance from Yaletown Partners, leaders of the initial Series E round in June 2020.

We are extremely honored to have W Investments Group complete this round of growth funding, said Neal Creighton, GoSecure CEO. Combined with Yaletown Partners, and our existing investors, GoSecure has an investor community extremely experienced at helping take high-growth companies to the next level.

Managed Detection and Response is one of the fastest-growing cybersecurity markets, with industry analysts projecting upwards of 50% of mid-market organizations will adopt MDR over the next five years. GoSecure MDR, based on their industry-leading detection and response platform, is transforming the way organizations protect themselves from the latest attacks, detecting and mitigating on average in less than 15 minutes.

GoSecure continues to add new customers at the highest rate in our history, continued Mr. Creighton. Based on the detection and response platform weve built, customers see the value of GoSecure MDR immediately and rest comfortably knowing they are protected by the best people, processes, and technology in the market. W Investments Group brings a wealth of experience that will be vital in helping GoSecure increase the awareness and adoption of our market-leading approach to Managed Detection and Response.

We always invest in people first. GoSecure is no exception. We were pleased by the quality and the depth of their management team. The company is at an inflection point; with state-of-the-art technology in hand and the right partnerships in place, they are ready to go to market at full speed, said Maxime St-Laurent, Co-Founder and Managing Partner at W Investments Group. The team at GoSecure has been making the right decisions and positioning themselves for sustained growth in the years ahead. We are excited to be part of the adventure and will support the team in any way we can.

Since launching as CounterTack in 2012, GoSecure has developed its unique behavior-based, predictive detection and response platform, acquired several companies, and emerged as a leader in the fast-growing Managed Detection and Response market. GoSecure is now at 200 employees with country headquarters in Montreal, Quebec, and San Diego, California. Growth that was already accelerating prior to the COVID-19 pandemic, continues as organizations adapt to an increasingly mobile workforce.

National Bank Financial Inc. acted as a placement agent in assisting GoSecure in securing this financing.

About GoSecure

GoSecure is recognized as a leader and innovator in cybersecurity solutions. The company is the first and only to integrate endpoint, network, and email threat detection into a single Managed Detection and Response service. The GoSecure detection and response platform delivers predictive multi-vector detection, prevention, and response by applying a unique combination of behavioral analysis, memory forensics, machine learning, and reputational techniques to counter the most advanced threats. Aggressive SLAs drive our MDR Services for rapid response and active mitigation services that directly touch the customers network and endpoints. Together, these capabilities provide the most effective response to the increased sophistication of continuously evolving malware and malicious insiders that target people, processes, and systems. With a focus on innovation, quality, integrity, and respect, GoSecure has become the trusted provider of cybersecurity products and services to organizations of all sizes across all industries globally.

About W Investments Group

W Investments Group L.P. is a private investment company formed and operated by successful investors with strong experience as entrepreneurs, operators, and managers of private and public companies. W Investments Group holds investments in private companies, real estate, and other alternative asset classes. www.winvestments.group

Brian Fisher

[email protected]

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Alliance Strengthens West Coast Presence with Acquisition of Almega Environmental

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Align Capital Partners (ACP) environmental services platform Alliance Holdings, LLC (Alliance or the Company) has acquired Almega Environmental (Almega). Almega provides source emissions testing (or stack testing) services including ambient air testing, on-site analysis and EPA compliance to the manufacturing, metals and renewable energy industries, among others.

Located in Cypress, California, Almega is a natural strategic fit for Alliance as the Company strengthens its presence in the Western United States. Almega is excited to partner with Alliance as the Companys first stack testing office in California, said Almega President John Phillips. We will continue to serve our clients in meeting their HSE (Health Safety and Environment) requirements as part of the Alliance brand moving forward. Phillips joins the Company as a Regional Business Development Manager focused on customer sales.

Chris LeMay, CEO of Alliance said, Alliance has been eager to find the right stack testing partner to expand in California and we found that with Almega. In partnership with John and the talented Almega personnel, we look forward to serving existing and new customers with our best-in-class systems and processes.

With a national footprint of 18 offices across 11 states, Alliance has the technical expertise to serve a diverse range of end markets. Almega is Alliances seventh add-on acquisition since 2015 and fourth in 2020. The Company will continue to evaluate additional acquisition targets for its growing platform.

With the addition of Almega in California, Alliance is now truly a national platform with offices from Alabama to Texas to California to Alaska to Pennsylvania and many states in between, said ACP Managing Partner Rob Langley. We are thrilled to continue to support the Alliance team as they build the Company to be the leading provider of environmental compliance services focused primarily on air emissions testing in the United States.

Operating Partner Dave Perotti, Principal Jack Parks, Senior Associate Corey Roe and Associate Chris Collins worked alongside Mr. Langley on the transaction.

About Alliance Holdings, LLC

Headquartered in Decatur, AL, Alliance is the leading provider of air emissions testing and monitoring solutions to customers throughout the United States. With expertise in a variety of end markets, Alliance is uniquely qualified to provide customers with the highest quality testing solutions available to meet air compliance and risk reduction goals. For more information, please visit stacktest.com or alliance-em.com.

About Align Capital Partners

Align Capital Partners is a growth-oriented private equity firm that partners with business owners and management teams to create shared success. ACP manages $775 million in committed capital with investment teams in Cleveland and Dallas. ACP brings experience and resources to help lower-middle market companies accelerate their growth, to the benefit of management, employees and the firms investors. ACP makes control investments in differentiated companies within the business services, technology, specialty manufacturing / distribution and healthcare sectors. For more information, visit aligncp.com.

Media Inquiries

Katie Noggle

216-505-6463

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DataTribe Announces Third Annual Cybersecurity Start-Up Challenge Finalists

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DataTribe, a global cyber foundry that invests in and co-builds next-generation cybersecurity and data science companies, announced today the finalists of its third annual DataTribe Challenge. The competition is poised to identify seed stage start-ups with a vision to disrupt cybersecurity and data science.

This years DataTribe Challenge submissions truly exemplified how the world has changed and where new-category defining technologies are coming from. We received submissions from all around the world and our finalists represent technologies that are 3-4 generations ahead of the existing commercial products, said Mike Janke, Co-founder of DataTribe. We are thrilled to welcome these finalists to compete as the winner of this years competition.

In a virtual event format this year, finalists will present a pitch and answer questions from judges on December 10, 2020. Three finalists will split $20,000 in prize money, and one winner will be eligible to receive up to $2 million in seed capital from DataTribe.

Finalists:

  • oak9: Based in Chicago, IL, oak9 enables developers to accelerate delivery while providing comprehensive security. The oak9 platform analyzes infrastructure-as-code and builds security into cloud native applications so they are secure and compliant by-design.
  • Scanta: Based in San Francisco, CA, Scantas mission is to secure conversational systems from adversarial attacks. Through the combination of AI and cybersecurity, Scanta’s security platform identifies and prevents attacks on a wide range of conversational systems.
  • SightGain: Based in Washington, DC, SightGain is the only cybersecurity risk management platform that evaluates security readiness by testing how well both production systems and personnel detect and prevent actual malicious attacks.

In addition to presentations from finalists during the Finalists Event this year, the CyberWires Chief Analyst, Rick Howard, will host experts from The CyberWire’s Hash Table for an insightful discussion of key cyber trends in 2021.

About DataTribe

DataTribe is a startup foundry that invests in and co-builds world class startups focused on generational leaps in cybersecurity and data science. Founded by leading investors, start-up veterans and alumni of the U.S. intelligence community, DataTribe commits capital, in-kind services, access to an unparalleled network, and decades of professional expertise to give their companies an unfair advantage. DataTribe is headquartered in the Washington-Baltimore metro area, in Fulton, Maryland. For more information, visit https://datatribe.com.

Danielle Ostrovsky

Hi-Touch PR

410-302-9459

[email protected]

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