Intelligent Flow Meter Market Size
Intelligent Flow Meter Market
The Intelligent Flow Meter Market is estimated to grow at a robust CAGR over the forecast period (2020-2027).
The factors driving the growth of Intelligent Flow Meter Market includes increasing application of intelligent flow meters in Chemicals and Water & Wastewater industries, improvements in the industrial infrastructure, rising focus on using real time data analysis to enhance the efficiency of the processing plants. Moreover, the availability of huge reserves of shale gas, integration of advanced technologies such as Internet of Things (IoT) and Artificial Intelligence (AI) with the intelligent flow meters and increasing adoption of advanced sensors and wireless monitoring systems by the end-users, are some of the additional factors supplementing the Intelligent Flow Meter Market share. In addition, the intelligent flow meters provide feedback to control the flow rate, helps to maintain the stability of liquid and gas as per the velocity and are suitable for complex measurement activities, are some of the features, contributing to the market growth.
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However, the growth of Intelligent Flow Meter Market is hindered due to fall in the prices of the crude oil around the world.
The major players operating in the market are Honeywell International Inc., Siemens, Baker Hughes Company, Azbil Corporation, Endress+Hauser Group Services AG, Emerson Electric Co., ABB, Yokogawa Electric Corporation, Schneider Electric, and Badger Meter, Inc., among others.
Type: Segment Analysis
Based on Type, the Magnetic Flow Meters segment is expected to expand at a significant CAGR during the forecast period attributed to its increasing sue in the End-Use industries such as Food & Beverages, and Metals & Mining.
Offering: Segment Analysis
Based on Offering, the Hardware segment is predicted to grow at a remarkable CAGR over the forecast period. The hardware devices are the main components of intelligent flow meters, and they provide effective feedback control to manage liquid and gas flow through pipes, are some of the factors responsible for the growth of the segment.
Regional: Segment Analysis
Based on Region, the Asia-Pacific is anticipated to capture a sizeable market share during the forecast period. The expansion of water & wastewater and chemicals industries, increasing investments by leading players on development of infrastructure, rising disposable incomes and high population density, are some of the important factors influencing the market growth in Asia-Pacific.
Market Segmentation
Global Intelligent Flow Meter Market by Type
- Coriolis
- Magnetic Flow Meters
- Vortex
- Ultrasonic
- Thermal
- Multiphase
- Differential Pressure
- Variable Area
- Turbine
Global Intelligent Flow Meter Market by Offering
- Software
- Hardware
- Services
Global Intelligent Flow Meter Market by Communication Protocol
- MODBUS
- PROFIBUS
- HART
- Others
Global Intelligent Flow Meter Market by Industry
- Oil & Gas
- Water & Wastewater
- Food & Beverages
- Chemicals
- Metals & Mining
- Pulp & Paper
- Pharmaceuticals
- Power Generation
- Others
Global Intelligent Flow Meter Market by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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