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Flow Computers Market Size Worth $1.33 Billion by 2025
December 14, 2018 | Grand View Research, Inc.Estimated reading time: 2 minutes
The global flow computers market size is likely to reach $1.33 billion by 2025, rising at a CAGR of 7.8% during the forecast period, according to the new report by Grand View Research, Inc. 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.
Software is projected to be the most promising component segment during the forecast period. The software helps audit and verify produced data. The service segment is also anticipated to witness noteworthy growth during the forecast period owing to flow computers demand repair and maintenance on a regular basis.
The wired flow computers segment is estimated to dominate the market throughout the forecast period owing to surging demand for these computers in wastewater treatment and power plant projects. Addition of wireless systems and solar powered systems in flow computers has increased the ability of these computers to reliably access the data from remote locations. The wireless flow computers segment is expected to experience the highest CAGR during the forecast period.
The demand for flow computers is likely to be high in the water & wastewater industry as they are used to interpret data received from flow meters by measuring static & differential pressure and temperature. These computers gather output signals of flow meters and the information is subsequently assimilated and converted to mass and volume-based flow.
North America represented the leading share in the market in 2017. Domicile of key manufacturers of flow computers has been contributing to the growth of the regional market. Asia Pacific is poised to register the highest CAGR during the forecast period owing to advancements in flow computers, growing urbanization, and industrial development.
Further key findings from the report suggest:
- Increasing refinery and liquefied natural gas (LNG) projects are projected to stoke the growth of the market during the forecast period
- The hardware segment is anticipated to dominate the market throughout the forecast horizon. Hardware products support the flow metering solutions
- In the oil & gas industry, flow computers are used for fuel monitoring and liquid & gas measurement. Flow computing software in the oil & gas industry is used on a standard computer and provides measurement values for virtual flow computers acquired by data communication devices
- The key industry participants include Yokogawa Corporation of America; ABB; SICK AG; Emerson Electric Co; Schlumberger Limited; Schneider Electric; Thermo Fisher Scientific Inc.; FMC Technologies, Inc.; and Honeywell International, Inc.
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