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Flow Computer Market Size
Flow Computer Market is anticipated to register substantial growth between 2024 and 2032, due to rising adoption of advanced technologies to improve the accuracy of operations across various sectors. Significant developments, such as the integration of Artificial Intelligence (AI), Internet of Things (IoT), and cloud computing solutions, with connected devices are expected to increase the product appeal. With rapid adoption of technologies, the oil & gas, water & wastewater, and chemical industries are widely adopting process automation for offering reduced labor costs and fuel prices.
According to a report published by Forbes, by the end of 2024, the global network of IoT devices is expected to surpass 207 billion connections, encompassing tools, toys, devices, and appliances. This expansion of IoT devices network is escalating the demand for flow computer solutions. However, the high initial investment costs, complexity in integration with existing systems, and limited awareness about benefits among end-users may restrain the market growth trajectory to some extent.
Flow Computer Market Trends
The increasing requirement for accurate & efficient systems to measure petrochemical and crude oil products in the oil & gas sector is escalating the product demand. Advanced technologies are enabling flow computers to make estimations, provide linearization adjustments, and further decrease temperature error. The increasing investments in the oil & gas sector for integrating advanced technologies will positively influence the market growth.
Flow Computer Market Analysis
Based on component, the market value from the software segment is expected to grow significantly between 2024 and 2032. Flow computer software enables retrieval of data files taken from a computer for allowing users to see, transfer, and print configured data to address an auditor’s requisite. Software are employed to audit & verify generated data as well as obtain & display data from any device in the metering station. They also enable the development of a customized metering station, adding to the segment growth.
Flow computer market share from the oil & gas application segment is expected to grow significantly through 2032. This is owing to the increasing need to measure the supply of gas & liquid. According to the International Energy Agency (IEA), the global oil supply is projected to rise by 1.7 million barrels per day (mb/d) to reach a record 103.8 mb/d in 2024. The extensive adoption of flow computers in the oil & gas industry for midstream pipelines, upstream production, process plants, downstream refining, and chemical plants to measure, monitor, and control the injected fluids and the production of the well will favor the segment growth.
North America flow computer market is expected to grow steadily from 2024 to 2032, due to the rising adoption of automation in the oil & gas and other application sectors. According to the U.S. Department of Transportation, over three million miles of the pipeline connect natural gas generation areas and storage facilities with users to deliver millions of cubic feet of natural gas and hundreds of billions of tons of petroleum every year. Such a vast network of pipelines needs gas metering stations, subsequently increasing the demand for flow metering solutions like orifice and ultrasonic in the region.
Flow Computer Market Share
Leading firms in the flow computer industry are engaged in various corporate strategies, such as mergers & acquisitions, partnerships, and new product launches to increase their market foothold.
Some of the major flow computer companies are:
- ABB
- Cameron International
- Emerson
- Rockwell Automation
- Yokogawa Electric Corporation
- Honeywell International
- Thermo Fischer Scientific
- Dynamic Flow Computers
- Kessler-Ellis Products
- Schneider Electric
- OMNI Flow Computers, Inc.
Flow Computer Industry News:
- In August 2023, Schneider Electric launched two SCADAPack controllers, the 471i and 474i, featuring integrated edge computing while combining field-tested remote terminal units with Linux open-source flexibility.
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