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Flow Computer Market Growth Projections and Opportunities
A flow computer is like a special computer that uses smart calculations to figure out and record how fast a substance is flowing, following specific rules used in the industry. It gives accurate results using a fancy program, sturdy hardware, and a screen to show the readings. These computers, made by companies like ABB Group and Emerson Electric Co, connect to other devices like pressure gauges and temperature probes, either with wires or without using wireless networks.
What these flow computers mainly do is record a continuous stream of information from these devices and then analyze it to create a report. In 2018, the global market for flow computers made around USD 925.7 million, and it's predicted to grow to USD 1,474.1 million by 2024, increasing at a rate of 8.5% every year.
North America is a big player in this market, holding more than 35% of it because industries dealing with liquids and gases there want reliable and advanced computing devices. In Europe, which had 26% of the global market in 2018, there's a growing interest in flow computers due to more focus on treating wastewater. Germany is leading this in Europe, making up 24% of the market share. In Asia-Pacific, where 19% of the global market is, China is the star player, with a fast-growing market because they're using flow computers a lot in their oil and gas industry.
In the Middle East & Africa, which held 14% of the global market in 2018, countries like UAE, Qatar, Kuwait, and Iran are using a lot of flow computers in their oil production. Lastly, in Central & South America, having 6% of the global market in 2018, countries like Brazil and Argentina are adopting flow computers, mainly because of their active oil and gas industries with companies like Petróleo Brasileiro S.A and Yacimientos Petrolíferos Fiscales.
So, these flow computers are becoming more popular globally, helping industries manage and understand the flow of substances for better efficiency.
Covered Aspects:| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | 15.5 (2022-2032 Base Year 2021 Forecast Period 2022-2032 Historical Data 2021 Forecast Units Value (USD Billion) Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends Segments Coveredby Component, by Connectivity Geographies CoveredNorth America, Europe, Asia-Pacific, and Rest of the World (RoW) Key VendorsABB Ltd, Honeywell International Inc, Schneider Electric SE, Yokogawa Electric Corporation, Emersion Electric Co, Rockwell Automation (Allen-Bradley), ProSoft Technology Inc. (Belden Inc.), KROHNE Messtechnik GmbH (KROHNE Group), OMNI Flow Computers, Inc, Schlumberger Limited, Thermo Fisher Scientific Inc, Contrec Ltd, Dynamic Flow Computers, Inc, Flow Systems, Inc, Kessler-Ellis Products, Co, TechnipFMC PLC (FMC Technologies Measurement), and Flowmetrics, Inc. Key Market OpportunitiesThe increasing demand for advanced and reliable computing in industries is one of the major factors contributing to the growth of the market in the region. Key Market DriversThe increasing developments in flow computers and growing demand for flow computers for wastewater treatment applications are the primary factors driving the growth of the global flow computer market. |
Flow Computer Market Highlights:
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