According to the latest report by IMARC Group, titled "Flow Computers Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," the global flow computers market is expected to grow at a CAGR of 6.8% during 2023-2028. Flow computers convert signals from a gas measurement system to a proper form, such as flow rate. They implement algorithms using analog and digital signals from flow meters, temperature, pressure, and density transmitters. They automate the data management and collection processes so that operators can get a snapshot of the system status and make decisions quickly. They record events and alarms related to the flow meter which are used for custody or fiscal transfer. These computers keep a tally of the volume for each flow meter they monitor and generate a record of this volume on an hourly, daily, batch, or monthly basis. They provide a means to calculate corrected values and interpret data from compensated flow meters.
Global Flow Computers Market Trends:
The global market is majorly driven by the rapid adoption of advanced technologies to enhance the accuracy of operations across various application sectors. This can be attributed to the fact that flow computers raise preciseness in operations, improve performance, and reduce measurement errors. These factors and the expanding scope of the product with application sectors are expected to drive the market growth in the coming years. In line with this, the rising product demand in wastewater treatment applications is significantly contributing to the market. Furthermore, the growing requirement for technologically advanced computing systems in numerous industries, such as oil and gas, automotive, and food and beverages, is positively influencing the market. Apart from this, the introduction of technologically advanced scanner models as well as single- and multi-stream flow computers is creating a positive outlook for the market. Moreover, the escalating demand for the product to analyze and record accurate measurements of products that flow through the pipelines in the petrochemicals sector is catalyzing the market. Besides, the strong presence of manufacturing centers and suppliers of electronic computer products is strengthening the market expansion. Additionally, the increasing integration of flow computers with cloud solutions is expected to further provide a boost to the market.
- On the basis of the component, the market has been categorized into hardware, software, and services.
- Based on the product, the market has been classified into wired and wireless flow computers.
- Based on the end use industry, the market has been segmented into oil and gas, water and wastewater, energy and power generation, food and beverage, chemical, pulp and paper, metal and mining, and others.
- On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market. Some of the key players include ABB Ltd., Contrec Ltd., Dynamic Flow Computers Inc., Emerson Electric Co, Flow Systems Inc., Flowmetrics Inc., Fluidwell B.V., TechnipFMC plc, Kessler-Ellis Products Co., KROHNE Messtechnik GmbH, Omni Flow Computers Inc., Schlumberger Limited, Schneider Electric SE, Thermo Fisher Scientific Inc. and Yokogawa Corporation of America (Yokogawa Electric Corporation).
|Base Year of the Analysis
||Component, Product, End Use Industry, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||ABB Ltd., Contrec Ltd., Dynamic Flow Computers Inc., Emerson Electric Co, Flow Systems Inc., Flowmetrics Inc., Fluidwell B.V., TechnipFMC plc, Kessler-Ellis Products Co., KROHNE Messtechnik GmbH, Omni Flow Computers Inc., Schlumberger Limited, Schneider Electric SE, Thermo Fisher Scientific Inc. and Yokogawa Corporation of America (Yokogawa Electric Corporation)
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