OTTAWA, Oct. 06, 2020 (GLOBE NEWSWIRE) -- The global flow computers market size was valued at USD 879.30 million in 2019 and predicted to reach over USD 2.1 billion by 2027, with a registered compound annual growth rate (CAGR) of around 7.61% during forecast period 2020 to 2027. Get more information@ https://www.precedenceresearch.com/flow-computers-market
A flow computer is a particular kind of computer that makes use of multifaceted calculations to infer the data from flow meters and compute and record the volume of a precise flowing substance at a specific point in time. Flow computers can be employed for liquids or gases and are in great demand throughout numerous industrial sectors. The more refined a flow computer has more processing capacity of incremental data points and has higher capability for data handling. Certain flow computers can concurrently process running data from numerous meters.
Flow computers must have refined programming, a comprehensible interface and damage-resistant hardware components in order to offer accurate and reliable output. They are programmed with the essential algorithms and calculations desired to precisely infer the data from flow meters and other flow measuring equipment. Numerous producers create flow computers that can be associated to a diversity of devices such as gas chromatographs, DCS, liquid provers and others. Flow computers can be programmed for batching or rate/total indication. The numerous pulse outputs and inputs can be “soft” allocated to address a diversity of general application needs.
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Growth Factors
Growing necessity for technologically progressive computing systems has been motivating the growth of flow computers market across the world. Implementation of advanced flow computing technology is projected to surge in industries including automotive, water & wastewater, oil & gas, and food & beverage. Additionally, introduction of technologically innovative single stream, scanner model, and multi-stream flow computers is anticipated to support the growth of the market throughout the assessment period. Chemical, oil & gas, and water & wastewater sectors are extensively implementing process automation owed to drop in labor cost, cost of technology, and fuel expenses.
With the escalating acceptance of process automation in the oil and gas sector, the market for flow computers and additional process measurement technologies is anticipated to propagate in the years to come. Numerous enterprises are scheduling to announce flow computing software proficient of managing data from numerous flow computers thereby making the process even more beneficial.
Report Highlights
- Flowing demand for flow computers in North America can be credited to increasing requirement from automation in the oil & gas operations. North America held the utmost revenue share in the global market in 2019 due to existence of a great number of industrialists and suppliers.
- The wired segment occupied prominent market share in the global flow computers market in 2019. It is projected to preserve its position during forecast period due to rising application of computing measurements and electronic computers in the process industry.
- In the oil & gas sector, flow computers are employed for fuel checking and gas measurement. Flow computing software in the oil & gas sector is employed on a standard computer and delivers measurement values for virtual flow computers acquired by data communication devices.
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Regional Snapshots
At present, North America is projected to embrace the foremost share in flow computer market on account of broader existence of flow computer merchants in the U.S. North America is closely shadowed by Europe and Asia Pacific. Mounting requirement for cutting-edge and reliable computing is accountable for the growth of the global flow computer market. Asia Pacific is anticipated to witness prompt growth in the sale for flow computers during near future. Cumulative population and constant need for oil and gas, petrochemicals, power, and water will push the flow computers market growth. Flow computer market in Latin America and Middle East and Africa is anticipated to observe a noteworthy demand in the forthcoming years.
Emerging economies in Asia Pacific including India, China, Japan, and Australia are predicted to gather significant revenue over the impending years owed to improvement of cutting-edge products and growing number of manufacturing services. The region is projected to post the uppermost growth rate during coming few years. Europe is anticipated to upsurge to the forefront in the worldwide arena by 2027. In Europe, electronic computers are extensively implemented for water and wastewater controlling and management.
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Key Players & Strategies
Many major producers are concentrating on presenting progressions in electronic computers to record data additional precisely. For example, Emerson Electric Co declared the next generation of flow computers family, intended to bid reliable and faster measurements in October 2015. Similarly, Thermo Fisher Scientific Inc. unveiled a novel range of measurement instruments, i.e. Thermo Scientific AutoXP flow computer in May 2018.
Some of the projecting companies in the flow computers market are Schneider Electric SA, Honeywell International, Dynamic Flow Computers Inc., Cameron International, Emerson Electric Co., ABB Group, Yokogawa Electric Corporation, Inc., Thermo Fisher Scientific Inc. and others.
Market Segmentation
By Product
- Wireless Flow Computers
- Wired Flow Computers
By Application
- Energy & Power Generation
- Food & Beverage
- Oil & Gas
- Water & Wastewater
- Pulp & Paper
- Metal & Mining
- Chemical
- Others
By Component
- Software
- Hardware
- Services
By Regional Outlook
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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