Flow Computer Market Size, Share & Industry Analysis, By Type (Single Stream Flow Computers, Multi-Stream Flow Computers), By Component (Hardware , Software , Services ), By Connectivity (Wired Flow Computers, Wireless Flow Computers), By Application (Fuel Monitoring, Liquid and Gas Measurement , Wellhead Measurement and Optimization, Pipeline Transmission and Distribution, Others) And Regional Forecast, 2024-2032

Flow computer is a device equipped with advanced technology that enables it to implement algorithms using analog and digital signals received from flow meters, and transmitters such as temperature, pressure, and density transmitters. Flow computers are connected to these into volumes at base conditions. Apart from this, the flow computer is also capable of auditing changes that have been made to any of the parameters required to turn the raw data into volumes. A running tally is maintained of the volume for every flow meter monitored, and a record of the same is created on an hourly, daily, batch, or monthly basis. The data captured by the computer is made available to other computers externally through an electronic interface which enables them to download information for supervision, accounting, and auditing.

The global flow computer market is segmented based on type, component, product, and application sectors. Based on type, the market is segmented into single-stream and multi-stream flow computers. The multi-stream flow computers are capable of handling data from several streams at any given time which makes them a preferable option over single-stream flow computers. Based on components the market is segmented into software, hardware, and services. Software services have been on a rise over the globe in the last decade owing to their several advantages which have driven the growth of the software segment.

Based on the product, the market is segmented into wired and wireless flow computers. The advanced technology and accessibility advantage of wireless flow computers have been the prominent factors behind their dominance in the market. Further, based on the application the market is segmented into fuel monitoring, liquid and gas measurement, wellhead measurement and optimization, pipeline transmission and distribution, and others. The major application of flow computers in the oil and gas sector has driven their adoption for fuel monitoring.   

The key market driver is the increasing adoption of advanced technologies to improve the accuracy of operations across various application sectors. The use of flow computers ultimately increases the preciseness in operations, enhances performance, and reduce errors during measurements. These factors coming together along with the expanding scope with application sectors will drive the market growth in the coming years.

The key market restraint which can act as a blockade to the growth is the complex structure and requirement of numerous equipment for installation and proper working of flow computers. Also, the global drift towards renewable energy can act as a threat to the market as the oil and gas sector is one of the major application sectors.

Key Market Driver -

Increasing adoption of advance technologies to improve accuracy in operations across various application sectors.

Key Market Restraint -

Complex structure and requirement of numerous equipment’s

Key Players Covered:

Some of the key market players include FlowMetric, Inc, Emerson, Yokogawa, KROHNE Group, OMNI Flow Computers, Inc. Kessler-Ellis Products (KEP), Dynamic Flow Computers, FMC Technologies, ABB, Honeywell, Schneider Electric, and ThermoFisher Scientific.

Regional Analysis:

The global market is studied across five regions namely North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America has been the dominant region in the market owing to the adoption of automation in oil and gas and other application sectors for many years. The U.S. is one of the major producers of oil and gas has had a lion's share in the region. The Asia Pacific holds immense opportunities for market growth as the consumption of fuels, and population rises which ultimately will propel the growth of different sectors such as wastewater management, oil and gas exploration, and pipelines for fuel transmission. Countries such as China and India are the major hotspots for growth. Europe has also witnessed a steady growth in recent years and with expanding market the sales for flow computers are bound to rise in the region.

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Segmentation

Key Industry Developments

• In November 2019, Emerson launched its new service which would enable remote performance monitoring of multiphase flowmeters in unconventional shale. The IIoT-enabled connected service will help oil and gas producers to optimize wellhead production, reduce cost and increase safety in operation. The Roxar 2600 Multiphase Flow Meter Performance Monitoring service will also provide operators recommendations to optimize meter performance and enable proactive maintenance, based on data collected from an onsite multiphase flow meter and analyzed remotely by Emerson’s experts.


• In February 2019, Prosoft Technology announced the launch of its CompactLogix module for Rockwell Automation. The solution offered by the company can help companies opt for their traditional set-up of multiple standalone flow computers and remote terminal units (RTUs), which will decrease their capital and simplify their site. It can be especially helpful for lease automatic custody transfer (LACT) applications, ensuring accurate product delivery.