The Global Flow Computer Market is expected to register a CAGR of 8.49% during the forecast period 2019-2024. Flow computers are dedicated devices that calculate and record the flow rate of substances according to industry standards. They provide precise and reliable results using advanced programming and hardware components. Flow computer manufacturers offer both wired and wireless connectivity options to connect with hardware devices like pressure gauges, temperature probes, gas sensors, and distributed control systems.
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The global flow computer market generated a revenue of USD 925.69 million in 2018 and is projected to reach USD 1474.13 million by 2024, registering a CAGR of 8.49%.
Market Segmentation
Component
- Hardware
- Software
- Services
Operations
- Single Stream Flow Computers
- Multi-Stream Flow Computers
Connectivity
- Wired Flow Computers
- Wireless Flow Computers
Equipment
- Pressure Gauges
- Temperature Probes
- Gas Composition Sensors
- Meter Prover
- Sampling System
- Density Measurement Equipment
- Others
Applications
- Fuel Monitoring
- Liquid & Gas Measurement
- Wellhead Measurement and Optimization
- Pipeline Transmission and Distribution
- Others
Regional Analysis
The flow computer market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. North America held the largest market share of 35% in 2018, with a value of USD 321.74 million. Europe was the second-largest market in 2018, valued at USD 237.48 million. The Middle East & Africa market is expected to register the highest CAGR of 10.19%. North America, with various key players and early adoption of flow computer technology, leads the market. The US, with numerous oil & gas companies, significantly contributes to the market in North America.
Major Players
Key players in the global flow computer market include:
- Honeywell International Inc
- Schneider Electric SE
- Yokogawa Electric Corporation
- Emersion Electric Co
- Schlumberger Limited
- Thermo Fisher Scientific Inc
- Contrec Ltd
- Dynamic Flow Computers, Inc
- Flow Systems, Inc
- Kessler-Ellis Products, Co
- TechnipFMC PLC (FMC Technologies Measurement)
- Flowmetrics, Inc.
- ABB Ltd
- OMNI Flow Computers, Inc
- ProSoft Technology Inc. (Belden Inc.)
- KROHNE Messtechnik GmbH (KROHNE Group)
- Rockwell Automation (Allen-Bradley)
Market Dynamics
Drivers
- Growing demand for advanced computing in industries
- Early adoption of flow computer technology
- Wastewater treatment awareness
- Increased demand for flow computers in various industries
Restraints
- Lack of technical expertise
Opportunities
- Development of consistent computing in industries
- Growing improvements in flow computers
- Demand for flow computers in wastewater treatment
Challenges
- Intense competition
- Regulatory complexities
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