Market Research Future (MRFR), in its recently published research report, asserts that the global flow computers market is thriving and poised to grow exponentially over the review period, recording a significant market valuation and a healthy CAGR in the forecast period.
Drivers and Restraints
The need for precise measurement of crude oil and other expensive petrochemical products are driving factors for the development of flow computers. numerous oil & gas industries are consistently developing these devices and offer developed computing solutions to enhance the computational capacities of the flow computer. Growth in demand for wastewater treatment which is one of the major factor driving the flow computer market. With the growing adoption of process automation in the oil and gas industries, the demand for flow computers and other process of measurement technologies is poised to grow in the coming years. Many market players are planning to present flow computing software capable of handling data from numerous flow computers, thus making the process even more useful.
The global flow computer market has been analyzed on the basis of operations, component, connectivity, applications, equipment, and region. The market, Based on the component, has been segmented into software, hardware, and services. By processes, the global flow computer market has been segmented into single-stream flow computers and multi-stream flow computers. Based on the connectivity, the global flow computer market has been segmented into wired flow computers and wireless flow computers. Based on the equipment, the market has been segmented into pressure gauges, gas composition sensors, temperature probes, meter prover, sampling system, density measurement equipment, and others. Based on the applications, the market has been segmented into liquid & gas measurement, fuel monitoring, pipeline transmission and distribution, wellhead measurement and optimization, and others.
The geographical analysis of the global flow computers market has been conducted in major regions, specifically the Asia Pacific, Europe, North America, and the rest of the world (covering Latin America, the Middle East and Africa). North America is the leading region on the basis of market share owing to the existence of various key players who are creating new and advanced flow computer systems. The increasing demand for advanced and dependable computing in industries is one of the significant factors contributing to the growth of the market in the region. The US accounts for the largest share in the flow computer market in North America due to the early implementation of the flow computer technology/systems. Additionally, the presence of various oil & gas companies in the US, which use flow computers for the measurement of substances such as liquid and gas, contribute notably to the growth of the market in the country. Europe is resposibe for the second-largest market share in the global flow computer market. Europe has numerous industries, including chemicals, petrochemical, and oil & gas, which use flow computer systems significantly. The growing awareness for wastewater treatment is a crucial factor driving the expansion of the flow computer market. On the other hand, the Middle East & Africa is poised to foresee the highest growth in the flow computer market because this region is the largest producer of oil & gas in the world. The UAE, Kuwait, Qatar, and Iran are some of the essential oil-producing countries globally. Moreover, the technological progressions and high adoption of new technology are the major factors driving the flow computer market in the region, as these systems enable the operator to monitor the systems
Flow Computer Market is anticipated to register a CAGR of 8.49% during the review period 2019–2024, …
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