Flow Computers Market Analysis Report By Product, By Component, By Application And Segment Forecasts From 2018 To 2025

Industry Insights

The global flow computers market size was valued at USD 739.6 million in 2017. It is expected to witness growth with a 7.8% CAGR over the forecasted period, 2018 to 2025. This can be associated with the surging need for undertaking technological advancements in computing systems across the globe. Further, the rising demand across oil and gas, automotive, water and wastewater, and food and beverage industries for computing of the flow is anticipated to drive the market in the upcoming years.

Rapid advances and innovation being carried out in flow computing technology have paved the way for the launching of a variety of flow computers like multi-stream, single-stream, and scanner models. These products are being adopted across several industries owing to the benefits like low technology cost, fuel prices, and labor costs required for operation and maintenance.

These flow computers are majorly used for increasing the measuring operation efficiency by lowering the errors caused by measurement uncertainty. They are enhancing the metrology performance, and ensure measurement compliance as per the desired standards and specifications. For example, the electronic computers produced by Emerson ensure the accuracy of the system by balancing system integrity, boosting the operational performance, and reaching the target costs.

Rising demand for automation across oil and gas sectors has paved the way for the usage of such flow computers across developed regions like North America. The majority of the key suppliers and manufacturers are located across this region thereby contributing towards its dominance across the globe. Moreover, the surging need for reliable and advanced computing is anticipated to contribute largely towards market growth.

Component Insights

In 2017, the hardware segment dominated the global flow computer market. It is also anticipated to retain its growth and position during the forecasted period. This can be associated with the surging demand for the adapters used for mounting and other accessories and tools required for assembling and after-sales service of these products.

The software segment is anticipated to register the highest growth across the global market during the forecasted period, 2018 to 2025. This can be attributed to its usage for accessing the data files of the computer, exporting the configured data, viewing and printing data as per the requirement of auditors.

Product Insights

The flow computers can be segmented based on product type as wireless and wired flow computers. In 2017, the wired flow computers segment held the largest share across the global market and is anticipated to continue its dominance in the upcoming years due to the rising usage of computing measurements and electronic computers across the process industry.

On the other hand, the wireless flow computer segment is projected to register significant growth across the global market. This growth can be attributed to their feature of providing enhanced protection while carrying out the procedure of data integration instead of using the conventional solutions of automation.

Application Insights

The oil and gas application segment is anticipated to register the fastest growth during the forecasted period, 2018 to 2025. This growth can be attributed to the surging demand for shale oil and gas across the globe coupled with an increasing need for metering their flow. These flow computers help in recording the input signals and the flow meters help in the interpretation of the data. This data is further processed with the help of standardized algorithms for the calculation of the volume and mass of the flow.

The water and wastewater application segment is also anticipated to register significant growth in the upcoming years across the Asia Pacific region. This growth can be attributed to rapid urbanization which is projected to drive the need for the water & wastewater sector thereby driving the demand for flow computers.

Regional Insights

In 2017, North America dominated the regional market of flow computers with a share exceeding 33% across the globe. This growth can be associated with the increasing presence of prominent players across this region. Developed countries like the U.S. are being considered as major hubs for prominent players like Schlumberger Limited; Honeywell International Inc., and Emerson Electric Co.

Asia Pacific is anticipated to witness the highest CAGR from 2018 to 2025. This can be attributed to rapid advances and development being carried out in terms of technology across countries like India, China, Australia, and Japan coupled with the surging number of production facilities. The European region is also projected to register significant growth in the upcoming years owing to the rising adoption of electronic computers across the water and wastewater sector.

COVID-19 Impact Insights

The outbreak of the COVID-19 virus has negatively impacted the flow computer market. Impositions of lockdown and restrictions over cargo and travel movements have severely affected the supply chain across the globe. Many industries are closing down due to market instability and a reduction in the availability of laborers. Further, reduction in usage of oil, gas, and petroleum products owing to less demand from the transportation and automotive sector has obstructed the market growth of flow computers. However, the adoption of flow computers across the pharmaceutical sector for determining the dosage of medicines and vaccines is anticipated to augment the market growth to some extent over the post-pandemic period.

Flow Computers Market Share Insights

This market includes key players like ABB; SICK AG; Yokogawa Corporation of America; Schneider Electric; Schlumberger Limited; Honeywell International, Inc., Emerson Electric Co; and FMC Technologies, Inc. They are constantly engaged in product development and innovation to gain a competitive advantage over other players and to widen their product reach.

Emerson Electric Co. launched the latest generation flow computers in 2015 that offered reliable and faster measurements. Similarly, Thermo Fisher Scientific Inc. had launched a wide range of measurement instruments and a flow computer named Thermo Scientific AutoXP. These players are keener to introduce several advances for the recording of the data more accurately.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends from 2014 to 2025 in each of the sub-segments. For the purpose of this study, Million Insights has segmented the global flow computer market report based on component, product, application, and region:

• Component Outlook (Revenue, USD Million, 2014 - 2025)
    • Hardware
    • Software
    • Services

• Product Outlook (Revenue, USD Million, 2014 - 2025)
    • Wired Flow Computers
    • Wireless Flow Computers

• Application Outlook (Revenue, USD Million, 2014 - 2025)
    • Oil & Gas
    • Water & Wastewater
    • Energy & Power Generation
    • Food & Beverage
    • Chemical
    • Pulp & Paper and Metal & Mining
    • Others

• Regional Outlook (Revenue, USD Million, 2014 - 2025)
    • North America
        • U.S.
        • Canada
        • Mexico
    • Europe
        • U.K.
        • Germany
        • France
        • Netherlands
    • the Asia Pacific
        • China
        • Japan
        • India
        • South Korea
        • Australia
    • South America
        • Brazil
    • Middle East & Africa
        • UAE
        • Saudi Arabia
        • Africa