The latest Smart Flow Market research report offers a thorough analysis of growth opportunities and development trends until 2030. Using qualitative and quantitative research, it explores market drivers and challenges, providing valuable insights for businesses to make informed decisions and identify growth areas.
Global Smart Flow Meter Market is valued at approximately USD 2.7 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 7.4 % over the forecast period 2022-2029.
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Smart flow metres provide data with more accuracy. For fluids, gas, or any liquid that runs past it, it delivers precise readings. These gadgets are effective in supplying precise real-time data for analysis. They are also capable of offering immediate feedback and a different course of action. This aids in reducing expenses related to damages of any kind. The Smart Flow Meter market is expanding because of factors such as rise in demand for Internet of Things (IoT) based devices, growing industrial demand for safety concerns and rising demand for real time data analysis. However, high cost of Smart Flow Meters may halt market growth.
Equipment for measuring flow has increased as a result of increased industrial automation. This results in new product developments and improved technology as well. For electromagnetic flow metres, the same holds true. They are expected to be improved more and more with each technological advancement because they provide data that is more accurate with each advancement. This presents a significant possibility for the market for smart flow metres to grow. According to Statista, in year 2019 number of Internet of Things (IoT) connected devices worldwide stood at 8.6 billion which increased to 11.28 billion in year 2021 and it is expected to reach 29.42 billion by year 2030. In addition, growing demand for electromagnetic smart flow meters is creating lucrative growth in the market. However, the high cost of Smart Flow Meters stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Smart Flow Meter Market study include: Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the rising activities in the oil & gas industry, rising demand in the food and beverage industry, and wastewater management operations. Moreover, industrial automation also encourages the growth of smart flow meters in the market. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising mining activities, geographic expansion of key players, and active participation of government and nonprofit organizations in the market space.
Major market players included in this report are:
ABB Ltd
Emerson Electric Corporation
em-tec GmbH
General Electric
Hitachi Ltd. (Hitachi High-Tech Corporation)
Siemens
Honeywell International Inc.
ZENNER International GmbH and Co. KG
Peltek India
Badger Meter, Inc.
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Recent Developments in the Market:
In December 2021, ABB Ltd announced the launch of bidirectional electromagnetic flow meters which would also enable a water loss management system.
in March 2020, Emerson, announce the launch of Daniel T-200, a product is titanium-housed transducer for gas ultrasonic flow meter product line.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and End Use offerings of key players.
The detailed segments and sub-segment of the market are explained below.
By Type:
Magnetic
Coriolis
Ultrasonic
Vortex
Multiphase
Others
By End-User:
Water and Wastewater
Power Generation
Chemical
Food and Beverages
Oil and Gas
Others
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By Communication Protocol:
Profibus
Modbus
Hart
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
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Some Questions Answered in the Smart Flow Meter Market Report:
- What is the projected size of the global Smart Flow Meter market in 2030, and what growth rate is expected?
- What are the primary drivers of growth in the global Smart Flow Meter industry?
- What are the major market trends that are affecting the expansion of the Smart Flow Meter market?
- What obstacles must be overcome in order to achieve sustained growth in the Smart Flow Meter market?
- What opportunities and threats do vendors in the global Smart Flow Meter market face?
- What are the raw materials and manufacturing equipment used in the production of Smart Flow Meter, and what is the manufacturing process?
- What are the different types and applications of Smart Flow Meter, and what is the market share of each type and application?
- What factors, such as trends, challenges, and risk factors, are currently shaping the growth of the Smart Flow Meter market?
- What factors are driving the growth of the Smart Flow Meter market in the top regions worldwide?
- Who are the major players in the global Smart Flow Meter market, and what strategies are they employing to succeed?
- What industrial trends, drivers, and challenges are influencing the expansion of the Smart Flow Meter market?
- What are the main findings of a five forces analysis of the global Smart Flow Meter market?
Here are the key highlights of the report:
- Comprehensive assessments of the market share for Invisible Braces, conducted at both country and regional levels.
- In-depth analysis of the competitive landscape, identifying key trends within the industry.
- Thorough examination of market trends, encompassing product and technology advancements, drivers and barriers, and an analysis based on PORTER’s five forces.
- Strategic recommendations tailored for crucial business segments, leveraging market forecasts.
- Guidance provided for new market entrants, assisting them in navigating the industry landscape.
- Market forecasts encompassing all pertinent segments, sub-segments, and regional markets.
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