Global flow computers market was worth USD 739.6 millions in 2017. It is projected to grow at 7.8% compound annual growth rate (CAGR), from 2018 to 2025. The market is driven by a growing demand for advanced computing systems. The adoption of advanced flow computing technology will increase in the oil & gas, automotive, water & waste, food & drink, and other industries.
In the same time frame, technologically advanced products such as single stream flow, multi-stream, and scanner models are expected to be in demand. Process automation is being adopted by many industries, including the oil and gas, chemical, water and wastewater. This is due to a reduction in technology costs, labor costs, and fuel prices.
Flow computers can improve efficiency by reducing uncertainty, improving metrology performance, and complying with measurement contracts. Emerson's electronic computers, for example, have the capabilities to make measurement systems accurate and robust, while maintaining integrity and cost-effectiveness, and improving operations.
The increasing demand for flow computers in North America is due to the growing need for automation in oil & gas operations. Because of the presence of many suppliers and manufacturers, the region held the largest market share in 2017. The market's growth is due to the rising demand for reliable and advanced computing.
The market can be divided into three segments based on component: hardware, software, or services. In 2017, the market's largest share was held by the hardware segment. The market will continue to be dominated by hardware through 2025. Hardware includes mounting adapters, and related tools & accessoires.
The Flow computer software allows you to access files from your computer. It allows you to view, print and export the data that you have created to meet an auditor’s request. It's used to verify and audit data. This segment is expected to experience the greatest growth over the forecast period.
The segment of service is also expected to see significant growth over the same time period. This segment has seen significant growth due to the presence of service providers that offer personalized services at lower prices. The segment's growth is expected to be aided by the fact that computers are often in need of regular servicing and maintenance.
The market can be divided into two segments based on product: wired flow computers and wireless flow computers. In 2017, the market's dominant segment was the wired segment. The wired segment accounted for the dominant share of global flow computers market in 2017. This is due to increasing use of electronic computers as well as computing measurements in process industries. The demand for flow computers will be driven by the chemical, water and wastewater industries, as well as oil & gas and oil & natural gas industries. Because wireless flow computers offer better protection for data integration than conventional automation solutions, the segment of wireless will likely see significant growth.
The market can be divided by application into oil & gasoline, water & wastewater and energy & power generation. The market is expected to be led by the oil and gas industry for the entire forecast period.
The sector's growing demand for shale oil and gas has fueled the need for flow computers. Electronic computers interpret flow meters' data and record input signals. Standard algorithms are used to interpret the interpreted data and calculate volume-based flow. This is used for oil & Gas industry flow measurements.
Asia Pacific's water and wastewater industry is expected to be a major end user of the product. The rapid urbanization and industrial development of countries like Australia, South Korea, China, India and South Korea in Asia Pacific is accelerating the demand for water supply and wastewater treatment. This will further enhance the segment's growth.
North America accounted for more than a third of 2017's overall market revenue. A large number of flow computer manufacturers are responsible for the growth of the region. The United States is a prominent manufacturing hub and provider of electronic computer products, such as Emerson Electric Co., Yokogawa Corporation of America; Schlumberger Limited; Honeywell International Inc.
Due to the development of advanced products, and an increase in manufacturing facilities, countries in Asia Pacific like Australia, Japan, India and China are expected to generate significant revenue in the future. This region will see the largest CAGR over the forecast period. Electronic computers are used widely in Europe for wastewater and water management. Europe is expected to be a major player in the global arena by 2025.
Emerson Electric Co. announced in October 2015 the next generation flow computers, which are faster and more reliable. Thermo Fisher Scientific Inc. also launched the Thermo Scientific AutomatXP flow computer in May 2018. To record data with greater accuracy, the key players are focusing their efforts on electronic computer advancements. The following are some of the major players in the flow computer market:
Yokogawa Corporation of America
ABB
SICK AG
Emerson Electric Co
Schlumberger Limited
Schneider Electric
Thermo Fisher Scientific Inc.
FMC Technologies, Inc.
Honeywell International, Inc.
Up Market Research published a new report titled “Flow Computers Market research report which is segmented by Component (Software, Hardware), by Application (Oil & Gas, Water & Wastewater), by Product (Wireless, Wired), By Players/Companies Emerson Electric Co, SICK AG, Thermo Fisher Scientific Inc, Schlumberger Limited, FMC Technologies Inc, Yokogawa Corporation of America, Schneider Electric, Honeywell International Inc, ABB”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Flow Computers Market Research Report |
By Component | Software, Hardware |
By Application | Oil & Gas, Water & Wastewater |
By Product | Wireless, Wired |
By Companies | Emerson Electric Co, SICK AG, Thermo Fisher Scientific Inc, Schlumberger Limited, FMC Technologies Inc, Yokogawa Corporation of America, Schneider Electric, Honeywell International Inc, ABB |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 249 |
Number of Tables & Figures | 175 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Component (Software, Hardware), by Application (Oil & Gas, Water & Wastewater), by Product (Wireless, Wired).
Flow Computers Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Flow Computers Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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