New York, United States , June 20, 2023 (GLOBE NEWSWIRE) -- The Global Flow Computer Market Size is to grow from USD 742.65 million in 2022 to USD 1,244.71 million by 2032, at a Compound Annual Growth Rate (CAGR) of 5.3% during the forecast period.
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A flow computer is an electronic device used to measure, calculate, and control the flow of liquids or gases in industrial processes. It gathers data from various sensors and instruments to accurately determine flow rate, volume, and other parameters. Flow computers perform complex calculations, compensate for temperature and pressure variations, and convert flow rates. They often have communication capabilities to transmit data to control systems. Flow computers are essential for process optimization, monitoring, and accurate billing in industries such as oil and gas, petrochemicals, and water treatment, where precise flow measurement is crucial for efficiency, safety, and compliance.
Report Coverage
This research report categorizes the market for flow computer market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the flow computer market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the flow computer market.
Browse key industry insights spread across 210 pages with 136 Market data tables and figures & charts from the report on, "Global Flow Computer Market Size, Share, and COVID-19 Impact Analysis, By Component (Hardware and Software), By Connectivity (Wired and Wireless), By Application (Oil & gas, Water & wastewater, Energy & power generation, Food & beverage, Chemical, Pulp & paper, Metal & mining, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Description Here:
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The oil & gas segment is expected to grow at a CAGR of around 6.7% during the forecast period.
Based on the application, the global flow computer market is segmented into oil & gas, water & wastewater, energy & power generation, food & beverage, chemical, pulp & paper, metal & mining, and others. The oil & gas segment is poised to witness significant growth in the forecast period in the flow computer market. The global demand for oil and gas continues to rise, driving exploration, production, and transportation activities. These operations require accurate flow measurement and control to optimize processes, monitor production, and ensure efficient custody transfer. The increasing complexity of oil and gas operations, including offshore drilling, unconventional resources, and complex pipeline networks, necessitates advanced flow computing solutions to accurately measure flow rates, volumes, and parameters in various stages of the production and distribution process. Moreover, stringent regulatory requirements and safety standards in the oil and gas industry further drive the adoption of reliable flow computers.
The hardware segment held the largest market share of around of 43.5% in 2022
Based on the component, the global flow computer market is segmented into hardware and software. The hardware segment has emerged as the dominant player, holding the largest market share in the flow computer market. This can be attributed to several factors. The hardware components are the foundation of flow computing systems, including flow meters, pressure sensors, temperature probes, and density meters. These physical devices are essential for accurate and reliable flow measurement and control. Hardware solutions often offer robustness, durability, and high performance, making them suitable for harsh industrial environments. Industries such as oil and gas, chemical, and water management rely heavily on rugged and reliable hardware components to ensure accurate flow measurement and long-term operation.
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Asia-Pacific is predicted to grow at a higher CAGR of around 6.5% over the projected period.
Based on region, Asia-Pacific is poised to experience higher growth in the forecast period in the flow computer market. This growth can be attributed to several factors. The region is witnessing rapid industrialization and infrastructure development, particularly in countries like China and India. This drives the demand for accurate flow measurement and control systems in various industries, including oil and gas, chemicals, and water management. The increasing focus on process optimization, operational efficiency, and regulatory compliance in industries drives the adoption of advanced flow computing solutions. Additionally, the expanding manufacturing sector and the rising investments in energy and utility projects further contribute to the growth of the flow computer market in the Asia-Pacific region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global flow computer market include ABB Ltd., Cameron International, Emerson, Rockwell Automation, Yokogawa Electric Corporation, Honeywell International, Thermo Fischer Scientific, Dynamic Flow Computers, Kessler-Ellis Products, Schneider Electric, and OMNI Flow Computers, Inc.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global flow computer market based on the below-mentioned segments:
Flow Computer Market, By Component
- Hardware
- Software
Flow Computer Market, By Connectivity
- Wired
- Wireless
Flow Computer Market, By Application
- Oil & gas
- Water & wastewater
- Energy & power generation
- Food & beverage
- Chemical
- Pulp & paper
- Metal & mining
- Others
Flow Computer Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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