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Apr 30, 2020 (AmericaNewsHour) -- Flow Computer Market Research Report - Global Forecast to 2024Global Flow Computer Market Research Report: by Component (Hardware, Software and Services), by Operations (Single Stream Flow Computers and Multi-Stream Flow Computers), by Connectivity (Wired Flow Computers and Wireless Flow Computers), by Equipment (Pressure Gauges, Temperature Probes, Gas Composition Sensors, Meter Prover, Sampling System, Density Measurement Equipment and others), by Applications (Fuel Monitoring, Liquid & Gas Measurement, Wellhead Measurement and Optimization, Pipeline Transmission and Distribution and others) and by Region (North America, Asia-Pacific, Europe, Middle East and Africa and South America) - Forecast till 2024
Market AnalysisThe Global Flow Computer Market is expected to register a CAGR of 8.49% during the forecast period 2019-2024. A flow computer is a dedicated computer that works on algorithms and complex calculations to calculate and record the flow rate of a flowing substance as per the industry standards at a definite point of time. It provides precise and reliable results using advanced programming, damage-resistant hardware components, and graphical user interface to display the readings. Flow computer manufacturers make flow computers that use either wired or wireless networks to connect to its various hardware devices for instance pressure gauges, temperature probes, gas sensors, and distributed control systems.
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The global flow computer market created a revenue of USD 925.69 million in the year 2018 and is projected to attain a market value of USD 1474.13 million by the year 2024, registering a CAGR of 8.49%. The growing improvements in flow computers and increasing demand for flow computers for wastewater treatment products are the primary factors pushing the growth of the global flow computer market. Based on component, the global flow computer market has been fragmented into hardware, software, and services. The hardware component comprises of field-mounted devices and panel-mounted devices.
These hardware devices are categorized based on the type of mounting flow computer is using. A software component is established on the user's devices for example laptop, tablet, mobile, or computer to connect with the flow computers. Different services for the flow computers include technical support, repair and maintenance, product training, parts replacement, and consulting services.
Market SegmentationFlow Computer Market can be segmented into different segments. On the basis of component, the market can be segmented into Hardware, Software, and Services. On the bases of operations, the Flow Computer Market can be divided into Single Stream Flow Computers and Multi-Stream Flow Computers. Based on connectivity the market is divided into wired Flow Computers, and Wireless Flow Computers. Based on equipment, the market is divided into different parts like Pressure Gauges, Temperature Probes, Gas Composition Sensors, Meter Prover, Sampling System, Density Measurement Equipment, and Others. By application, Flow Computer Market is divided into Fuel Monitoring, Liquid & Gas Measurement, Wellhead Measurement and Optimization, Pipeline Transmission and Distribution, and Others.
Regional Analysis:The flow computer market on the basis of region, has been segmented into the different regions like North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. In the year 2018, the largest market share 35% was held by North America with a market value of USD 321.74 million. The market is expected to register a CAGR of 7.33% during the forecast period. European market was the second-largest market in the year 2018 that was valued at USD 237.48 million; the market is expected to exhibit a CAGR of 8.74%. Middle East & Africa market is anticipated to register the highest CAGR of 10.19%. In terms of market share due to the existence of various key players who are emerging new and improved flow computers, the North America region is the leading region systems.
The growing demand for developed and consistent computing in industries is one of the main factors influencing to the development of the market in the region. Due to the early adoption of the flow computer technology/systems the US is responsible for the major share in the flow computer market in North America. Furthermore, the existence of different oil & gas companies in the US, such as Abraxas Petroleum Corp., Adams Resources & Energy Inc., California Resources Corp., ExxonMobil Corp. and Chevron Corp., which use flow computers for the volume of substances such as liquid and gas, provide substantially to the growth of the market in the country.
The geographic analysis in Europe has been performed for numerous countries such as UK, Germany, France, Russia, Italy, and the rest of the European countries. Europe has different industries, including chemicals, petrochemical, and oil & gas, that use flow computer systems. The growing awareness for wastewater treatment is another factor driving the growth of the flow computer market in this region.
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Major Players:
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), and Flowmetrics, Inc., ABB Ltd, OMNI Flow Computers, Inc, ProSoft Technology Inc. (Belden Inc.), KROHNE Messtechnik GmbH (KROHNE Group), Rockwell Automation (Allen-Bradley) are some of the key players of global flow computer market.
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