New York, April 17, 2023 (GLOBE NEWSWIRE) -- The Flow Computer Market revenues were estimated at US$ 739.6 million in 2021. They are anticipated to grow at a CAGR of 6.9% from 2022 to 2032, according to a recently published Persistence Market Research (PMR) report.
By the end of 2032, the market is expected to reach a valuation of US$ 1.6 billion. Wired flow computer is likely to dominate the flow computer market with a projected CAGR of 6.8% from 2022 to 2032.
In recent years, the oil and gas sector has been at the forefront of implementing flow processors. 2017 to 2021 saw a booming demand for customized equipment in this sector. It is anticipated that demand would continue to rise between 2022 and 2032.
The flow computer technology has seen widespread proliferation in recent years. Rising demand for flow computers in wastewater treatment products is a key factor behind the growth of the global flow computer market.
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Flow computer technology can be integrated at various levels of industry processing, be it hardware or as a service. Panel-mounted and field-mounted components make up the tangible component.
The mechanical parts used in such systems are labeled differently depending on the type of attachment system the computer employs. A program component on the user's devices, such as a laptop, tablet, mobile, or computer, is required in order to interact with the flow processors.
Key Takeaways from the Flow Computer Market Report:
- The global flow computer market is likely to expand at 6.9% CAGR through 2032.
- Total market valuation in 2032 is estimated to be around US$ 1.6 billion
- By connectivity type, wired flow computer is expected to lead revenues, growing at 6.8% CAGR through 2032.
- By application, oil and gas sector is expected to have prominent sales figures, expanding at 6.7% CAGR by 2032-end.
- The USA market value by end of forecast period is likely to be around US$ 481.3 million.
- The UK market is projected to expand at 6.1% CAGR between 2022 to 2032.
“Rising demand from the oil and gas sector has been, and will continue to drive growth in the flow computer market through 2032. Another key area fuelling the demand for such solutions is in wastewater treatment products. Upon analyzing the trends, manufacturers would conclude that they could gain significant boost in sales by focusing on customized equipment requirements across these sectors.” – says a Persistence Market Research (PMR) Analyst
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Competitive Landscape
The top market players are constantly thinking of novel ways to deliver high-quality goods, as well as to patent their innovations and goods and broaden their product lines. The players, who presently have a tiny market share, are constantly working to increase their market share in flow computer.
Some of the recent developments in the Flow Computer Market are:
- In September 2021, the Magnetic Flowmeter CA series was released by Yokogawa. The OpreX Field Instruments family released this new product line as the replacement for the ADMAG CA line.
This new line of goods includes capacitance-type magnetic flowmeters, which can measure the flow of conductive fluids through a measurement tunnel. Its advanced capabilities allow it to do so without the fluids coming into touch with the device's electrodes.
- In September 2021, a new flow computer was introduced by Thermo Fischer Scientific, a USA company. It helps in improving flow measurement and process controls of Hydrocarbons.
With its scalable capabilities, the AutoFLEX flow computer offers a single hardware base that can be used for both simple measurement locations and intricate multiple-run distribution stations.
More Insights Available:
Persistence Market Research (PMR), in its new offering, presents an unbiased analysis of the flow computer market, presenting historical market data (2017 to 2021) and forecast statistics for the period from 2022 to 2032.
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The study reveals extensive growth in the flow computer market categorized by connectivity type (wired flow computer and wireless flow computer), by application (transportation, electric power, environmental engineering and oil and gas) and by region.
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