- 10 September 2019 23:08
Flow Computer Market Worth USD 1.8 Billion by 2026
Surge in technological penetration in across numerous verticals is expected to drive the growth of the global flow computer market. Also, increased demand for efficient and productive gadgets across industries is anticipated to boot the market over the forthcoming years. The adoption rate of flow computers is poised to gain traction over the coming years, particularly in industries such as oil & gas, owing to introduction of technologically advanced products such as scanner model flow computers, which offer processing power and support gas chromatograph, in addition to two integral flow runs for managing fluid property calculations.
Raising demand for improvised, efficient and advanced computing systems has been driving the flow computer market internationally. Execution of progressive flow computing technology is anticipated to drive in businesses for instance, water & wastewater, automotive, oil & gas, and food & beverage.
Moreover, launching of technically advanced gadgets for instance, multi-stream flow computers single stream, and scanner model is anticipated to boost the flow computer market during the forecast period. The, chemical, oil & gas, and water & wastewater businesses are widely embracing process automation due to fall in labour, technology and fuel prices.
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The global flow computer market is segmented into four major segment named component, product, application, and region. On the basis of the component the global flow computer market is segmented into hardware, software, services.On the basis of product the flow computer market is segmented into wired flow computers and wireless flow computers. On the basis of Application, the flow computer market is segmented into Oil & Gas, Water & Wastewater, Energy & Power Generation, Food & Beverage, Chemical, Pulp & Paper and Metal & Mining, Others. On the basis of region the global flow computer market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Based on product, the flow computer market has been bifurcated into wired and wireless flow computers. The wired sub-segment captures the largest market share in the global flow computers market in 2018. It is likely to maintain its position through 2026, due to emerging use of electronic computers and computing measurements in the process industry. The oil & gas, water & wastewater, and chemical industries are projected to fuel the need for flow computers during the forecast period. The wireless sub-segment is expected to spectator substantial growth during the forecast period as this type of flow computer delivers better-quality protection during data incorporation as compared to traditional solution.
On the basis application, the flow computer market is bifurcated into water & wastewater, energy & power generation, oil & gas, food & beverage, pulp & paper,chemical, and metal & mining, and others. The oil & gas sector is anticipated to lead the market during forthcoming years.
Growing need for shale oil & gas has been boosting the need for flow computers in the oil and gas sector. Electronic computers collect and store input signals and deduce data from flow meters. The deduced data is managed and sorted using standard algorithms to compute mass or volume-based flow that is used in flow measurements particularly in the oil & gas sector.
Asia Pacific water & wastewater industry is estimated to be one of the significant end users of the product. Countries for instance, China, India, South Korea, and Australia in APAC region are witnessing industrial development and speedy urbanization, which are growing the demand for wastewater and water supply treatment, additional complementing the growth of the segment.
The global flow computer market includes players such as Proteus Yokogawa Corporation of America,Honeywell International, Inc., ABB, SICK AG, Emerson Electric Co, Thermo Fisher Scientific Inc., Schneider Electric, FMC Technologies, Inc.,and Schlumberger Limited. The companies are continuously involved in product launch and strategic expansion to develop efficient computer in the market. For instance, global computer flow players named Emerson Electric Co. launched the next generation of flow computers In October 2015. The reason for this launch is to facilitate user with faster and reliable measurements. Similarly, another player associated with flow computer named Thermo Fisher Scientific Inc. introduced a new variety of measurement instruments named Thermo Scientific AutoXP flow computer in May 2018. The global producers are concentrating on presenting and launching advance technology in electronic computers to record or collect data more efficiently and accurately.