Flow computers are used to store, process and analyze the data inputs from different sensors and meters such as temperature, pressure, density among others to monitor and detect the flow of a liquid or a gas substance in manufacturing and industrial facilities. The flow meters use a set of different algorithm and platforms. Flow computers are essential components of large systems such as wastewater treatment plants with multiple flows that need to be continuously analyzed and managed. These devices offer automated data collection and data management in various processes. There is a rising need for computing flow metrics such as flow rate, temperature, pressure, density, and viscosity with high reliability from industries such as oil & gas.
Flow meters, which form a part of flow computing systems, have also witnessed rapid development in recent years. The adoption of turbine flow meters has grown at a high pace role in the development of sophisticated fighter and surveillance airplanes, helicopters, cruise missiles, and drones due to their ability to withstand high g-forces. Military and government departments across the globe, as well as major aerospace manufacturers, utilize turbine flowmeters as an integral component in their equipment test stands. The dependence of the oil and gas industry on automation has significantly increased in the past decade. The fall in the prices of crude oil from 2014 to 2016 led to multiple rounds of industry layoffs, which has reduced the number of skilled workers in the oil and gas industry. Initiatives to increase digitization in the oil and gas industry are being implemented, which has led to an increase in investments in automation equipment, including flow computers.
According to Market Research Future analysis, the global flow computer market reached USD 925.69 million in 2018 and has been estimated to be valued at USD 1,474.13 million by 2024 at 8.49% CAGR during the forecast period 2019–2024.
Some of the prominent players in the global flow computer market are ABB Ltd, Honeywell International Inc, Schneider Electric SE, Yokogawa Electric Corporation, Emersion Electric Co, Rockwell Automation (Allen-Bradley), ProSoft Technology Inc. (Belden Inc.), KROHNE Messtechnik GmbH (KROHNE Group), OMNI Flow Computers, Inc., Schlumberger Limited, Thermo Fisher Scientific Inc, and Contrec Ltd.
The MRFR analysis offers a comprehensive understanding of market dynamics. The flow computer market is analyzed across key geographies, namely North America, Europe, Asia-Pacific, Middle East and Africa, and Central & South America.
The global flow computer market has been segmented on the basis of component, operations, connectivity, equipment, applications, and region. The global flow computer market, by component, has been segmented into hardware, software, and services.
The hardware segment accounted for the largest market share of 55% in 2018, with a market value of USD 505.03 million; it is expected to register the highest CAGR of 7.93% during the forecast period. The software segment was the second-largest market in 2018, valued at USD 261.57 million; it is projected to exhibit the highest CAGR of 9.97%.
By application, the global flow computer market has been segmented into fuel monitoring, liquid & gas measurement, wellhead measurement and optimization, pipeline transmission and distribution, and others. The fuel monitoring segment accounted for the largest market share of 31.06% in 2018 since flow computer provides fuel monitoring applications in ship boards to calculate the fuel consumption, gas flow consumption in power plants, and monitoring of two-component blending.
The study was conducted using an objective combination of primary and secondary information, including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Global 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 2024Flow Computer Market HighlightsThe global flow computer market is spanned across North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.
The key players in the oil production in Canada are Suncor, Canadian Natural Resources Limited, Imperial Oil, Husky, and Cenovus, which use flow computers to enhance their measurement operations and performance of the system by reducing measurement uncertainty during the process.
Thus, flow computers make measurement systems more precise and accurate.
Trillium Measurement and Control and Flowmetrics Inc., among others, are some of the companies operating in Canada and offering flow computers systems and equipment.On the other hand, the Middle East & Africa is expected to foresee the fastest growth in the flow computer market since this region is the largest producers of oil & gas in the world.
The UAE, Qatar, Kuwait, and Iran are some of the important oil-producing countries globally.
Moreover, the technological advancements and high adoption of new technology are the key factors driving the flow computer market in the region, as these systems allow the operator to monitor the systemsFree sample report here: https://www.marketresearchfuture.com/sample_request/8147Europe accounts for the second-largest market share in the global flow computer market.
We will provide covid-19 impact analysis with the report, offering an extensive market evaluation post the coronavirus disease outbreak.In a nutshell, COVID-19 impact on managed services has been fruitful, with the market growth enhanced than before.
Companies in the technology sector that supply services for verticals like travel, retail, hospitality, and entertainment have noted a dramatic decrease in sales, while the firms that provide services related to remote worker solutions have observed the opposite.
The Flow Computer Market Research Market is bearing lesser impact of the COVID-19 outbreak compared to most other segments of the tech world.Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/8147Competitive Outlook: The key companies outlined in the MRFR study are Rockwell Automation (Allen-Bradley), TechnipFMC PLC (FMC Technologies Measurement), ABB Ltd, Emersion Electric Co, Schneider Electric SE, OMNI Flow Computers, Inc, ProSoft Technology Inc. (Belden Inc.), Contrec Ltd, KROHNE Messtechnik GmbH (KROHNE Group), Schlumberger Limited, Flow Systems Inc, Honeywell International Inc, Co, Yokogawa Electric Corporation, Dynamic Flow Computers Inc, Flowmetrics, Inc., Kessler-Ellis Products, Thermo Fisher Scientific Inc, to list a few.Segmentation:The flow computer market research by MRFR outlines the key segments in the report, namely component, operations, connectivity, equipment, and application.The components considered in the report are Software, Services as well as Hardware.The operation-wise market sections include Multi-Stream Flow Computers and Single Stream Flow Computers.The segments, depending on connectivity are Wireless Flow Computers as well as Wired Flow Computers.The equipment-based market categories are Density Measurement Equipment, Pressure Gauges, Meter Prover, Sampling System, Gas Composition Sensors, Temperature Probes, and others.The key application areas of flow computers are Fuel Monitoring, Pipeline Transmission and Distribution, Wellhead Measurement and Optimization, Liquid & Gas Measurement, and more.Regional Analysis:The flow computer industry has been regionally considered for Europe, Asia Pacific/APAC, MEA/the Middle East and Africa, South America and North America.North America is projected to be the largest gainer in the global market during the evaluation period, racing ahead at a compelling rate.
The flow computer market in the US is thriving backed by the high deployment rate of the latest technologies; and the fact that the country stands as the biggest consumer and producer of oil & gas resources.
The frequent technological innovations along with the augmented interest in adopting the latest technologies can be a big plus point for the regional market over the next couple of years.Europe has claimed the second lead in the global market, thanks to the rising use of flow computers in industries like petrochemical, oil & gas and chemicals.
The soaring demand for wastewater treatment also helps the market generate high revenues.
Flow Computer MarketThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Flow Computer Market.
The growth sectors of the Flow Computer Market are identified with precision for a better growth perspective.Market Research Future (MRFR), in its recently published research report, asserts that the global flow computers market is thriving and poised to grow exponentially over the review period, recording a significant market valuation and a healthy CAGR in the forecast period.Drivers and RestraintsThe need for precise measurement of crude oil and other expensive petrochemical products are driving factors for the development of flow computers.
numerous oil & gas industries are consistently developing these devices and offer developed computing solutions to enhance the computational capacities of the flow computer.
With the growing adoption of process automation in the oil and gas industries, the demand for flow computers and other process of measurement technologies is poised to grow in the coming years.
Many market players are planning to present flow computing software capable of handling data from numerous flow computers, thus making the process even more useful.Segmental AnalysisThe global flow computer market has been analyzed on the basis of operations, component, connectivity, applications, equipment, and region.
By processes, the global flow computer market has been segmented into single-stream flow computers and multi-stream flow computers.
