FLOW COMPUTERS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

The flow computers market size is expected to reach US$ 1,291.2 Million by 2030, from US$ 679.5 Million in 2023, growing at a CAGR of 9.6% during the forecast period. Flow computers are electronic devices used to calculate the flow measurement of liquids and gases. They collect signals from flow meters and analyze them to generate reliable flow data. Flow computers have applications across industries such as oil & gas, energy & power, chemicals, food & beverage, metals & mining, and water & wastewater for purposes like fiscal metering, wellhead measurement, liquid & gas measurement, and process control & monitoring.

The growth of the flow computers market is driven by factors such as the increasing need for accuracy and efficiency in fiscal metering, rising upstream exploration activities, growing industrial automation, and high demand from the rapidly growing oil & gas industry.

The flow computers market is segmented by component, product type, connectivity, end-use industry, application, and region. By component, the market is segmented into hardware, software, and services. The hardware segment accounts for the largest market share due to the high demand for wired and wireless flow computing hardware across industries.

Flow Computers Market Regional Insights:

• North America is expected to be the second largest market for flow computers during the forecast period, accounting for over 25% of the market share in 2023. The growth of the market in North America is attributed to the rapidly expanding oil & gas industry and increasing upstream activities in the region.
• Asia Pacific is expected to be the largest market for flow computers, accounting for over 35% of the market share in 2023. The growth of the market in is attributed to rapid industrialization and high demand from industries such as chemicals, energy & power, and oil & gas in the region.
• The Middle East & Africa is expected to be the fastest-growing market for flow computers, growing with a CAGR of over 5% during the forecast period. The growth of the market in the Middle East & Africa is attributed to increasing upstream projects and growing investments in the oil & gas industry in the region.

Figure 1. Global Flow Computers Market Share (%), by Region, 2023

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Flow Computers Market Drivers:

• Increasing Demand for Higher Efficiency in Fiscal Metering: The need for accuracy, reliability, and efficiency in fiscal metering and custody transfer is driving the growth of the flow computers market. Flow computers play a critical role in fiscal metering applications across oil & gas, chemicals, food & beverage, metals & mining, and energy & power industries. They provide precision monitoring and measurement of liquid and gas flows to ensure accuracy for billing and accounting purposes.

With rising demand for natural gas and the higher complexity of fiscal metering systems, end-users are deploying advanced wired and wireless flow computers. These provide enhanced connectivity, real-time data, multi-variable configuration, and better diagnostics. Their high accuracy helps meet fiscal measurement standards and mitigate risks associated with billing disputes, revenue loss, and legal issues. Flow computers also enable remote monitoring and automated documentation to improve efficiency in fiscal metering.

• Increasing Oil & Gas Exploration Activities: The growing upstream hydrocarbon exploration and rising wellhead activities are contributing significantly to the growth of the flow computers market. Flow computers play an integral role in well testing, allocation, and optimization across upstream oil & gas operations. They allow reliable and accurate computation of parameters like flow rate, temperature, pressure, fluid composition, and density in real time. This aids in well management, production monitoring, reservoir characterization, and decision-making.

With the rise in upstream spending, off-shore projects, and shale exploration, oil & gas companies are deploying robust flow computers. Advanced flow computing solutions also enable remote wellhead monitoring, automated reporting, multi-phase computation, and integration with SCADA systems at exploration sites. Their benefits are driving adoption across greenfield and brownfield projects.

• Growing Need for Enhanced Process Visibility and Optimization: The ability of flow computers to provide deeper process insights for optimization is fueling their adoption across industries. Flow computers allow centralized acquisition and processing of critical flow parameters from multiple field devices. This provides enhanced visibility into plant performance. Data from flow computers enables the identification of efficiency issues, capacity bottlenecks, and maintenance requirements in pipelines, storage facilities, and other assets.

Flow computing platforms combined with analytics provide actionable intelligence to optimize processes, reduce downtime, enhance productivity, and minimize costs. Features like advanced diagnostics, predictive maintenance, and embedded simulation offer higher operability. The growing need for such capabilities is expected to spur demand for flow computing solutions.

• Increasing Deployment of Cloud-based and IoT Solutions: The rising adoption of cloud technologies and Industrial Internet of Things (IIoT) is contributing to market growth. Cloud-based flow computing solutions allow anytime, anywhere access to flow measurement data. This provides flexibility to end-users to monitor operations remotely through connected enterprise solutions. Flow computer capabilities like data logging, web reporting, and mass configuration offered on the cloud enable mobility and ease of use.

IoT-enabled flow computers that integrate with sensors, actuators, and Industrial IoT platforms facilitate seamless information sharing between field devices. This allows holistic data analysis to gain deeper operational insights. The ability to seamlessly connect with the Industrial IoT is widening the application scope of flow computers beyond measuring flows.

Flow Computers Market Opportunities:

• Leveraging Big Data and Advanced Analytics: The exponential growth in process data from industrial operations and flow computers has created opportunities for leveraging big data analytics. Flow computing solutions integrated with big data platforms and advanced analytics tools allow storage, management, and analysis of vast data volumes. Pattern identification, predictive modeling, and machine learning techniques can unlock hidden insights from flow measurement data.

Companies offering flow computers integrated with big data and advanced analytics capabilities can gain a competitive edge. These predictive solutions will help end-users improve uptimes, reduce maintenance costs, enhance production planning, and support data-driven decisions. Flow computer vendors can partner with data analytics firms to deliver such value-added integrated offerings.

• Transition to Cloud-based Flow Measurement Infrastructure: The shift from on-premise flow computing infrastructure to cloud-based architecture opens new growth prospects. Flow computer vendors can provide their offerings on a SaaS model to tap the rising inclination of end-users towards cloud-based monitoring of industrial assets. Cloud-based flow management systems allow flexibility, scalability, mobility, ease of upgrade, and connectivity advantages to users.

Vendors can offer tailored cloud solutions with capabilities like advanced process modeling, simulation modules, predictive maintenance apps, and flexible visualization dashboards via the cloud. Collaborations with industrial cloud providers will be key to building robust cloud-hosted flow computing infrastructures that comply with industry standards.

• Leveraging Digital Twin Capabilities: Digital twin integration with flow computers unlocks new capabilities that vendors can capitalize on. A digital twin powered by real-time data from flow computers allows mirroring physical assets into virtual models. Engineers can assess performance, troubleshoot issues, and evaluate strategies in a simulated environment. Digital twin capabilities like predictive maintenance, performance benchmarking, and scenario testing help optimize efficiency and throughput.

Vendors can integrate advanced simulation, digital threading, and AI/ML technologies with their flow computers to enable digital twin capabilities. Collaborations with simulation modeling experts and software firms will help strengthen digital twin offerings. Providing robust cybersecurity functionalities will be vital for such solutions.

The rising focus on sustainability across process industries is compelling companies to adopt environmentally sustainable practices. Flow computer vendors can develop and market their products as enablers of energy conservation, emissions reduction, and environmental compliance.

Flow computers optimize energy usage by detecting inefficiencies and anomalies in real time through advanced analytics. They support the monitoring of emissions, waste generation, and resource consumption from processes. Compliance with changing environmental regulations can be enabled by customized reporting capabilities of flow computers. Such green credentials of products can help strengthen brand image and appeal to sustainability-focused end users.

Flow Computers Market Trends:

• Adoption of Wireless Flow Computing Solutions: The increasing adoption of wireless technology for flow measurement and automation is a key trend in the market. Wireless flow computers provide flexibility, ease of installation, and cost efficiency compared to wired flow computers. They eliminate the need for conduit and wiring, thereby reducing complexity in retrofit applications.
• Leading manufacturers offer innovative wireless flow computing solutions leveraging cellular, Bluetooth, Wi-Fi, and other network technologies. These provide reliable connectivity for hard-to-reach locations and hazardous environments. The ability to enable distributed computing and real-time data accessibility drives a preference for wireless flow computers.

• Integration of Advanced Diagnostic Capabilities: Incorporating intelligent onboard diagnostics in flow computers is gaining traction in the market. Advanced diagnostics allow early detection of measurement anomalies, device failures, network connectivity issues, memory errors, and the need for recalibration. This prevents downtime and related costs for end-users.
• Vendors are integrating self-diagnostics, statistical process monitoring, and machine learning algorithms in flow computers to identify exceptions and minimize risks. Predictive maintenance capabilities enabled by such smart diagnostics help improve maintenance planning and reduce TCO. The integration of IIoT connectivity takes diagnostics to the next level.

• Growing Adoption of Cloud-based Flow Management Solutions: The accelerating adoption of cloud-based monitoring and reporting solutions for flow measurement data is a major trend. Leading cloud providers like Microsoft, IBM, and AWS are offering specialized cloud services tailored for the oil & gas and chemical process industries. Integration with such cloud-based historian systems enables remote flow data visualization.
• Flow computer vendors are increasingly partnering with major cloud service providers to offer their flow calculation software solutions on the cloud. Building cloud-based infrastructure for automating computation, analysis, and visualization of flow data provides benefits of accessibility, scalability, data backup, and disaster recovery.

• Incorporation of Cybersecurity Features: The increasing risks of cyberattacks on critical industrial infrastructure are driving the adoption of cybersecurity features in flow computers. Vendors are integrating security capabilities like encryption, access control, user authentication, and network security during product development. Safety certifications such as IEC 62443 and Achilles Communications are being obtained to assure clients.
• Partnerships with cybersecurity firms to incorporate advanced threat monitoring, anomaly detection, and other features add credibility. Robust cybersecurity enables secure data capture from IIoT devices, cloud connectivity, and remote access to flow computing systems. Adherence to industrial cybersecurity standards will gain prominence as a competitive advantage.

Flow Computers Market Restraints:

• Requirement for Periodic Recalibration and Expert Support: The need for periodic recalibration and expert maintenance support results in high after-sales service costs. Flow computers require regular calibration, configuration, and troubleshooting support from technical product experts to sustain measurement accuracy and system health. Access to field service engineers may be limited in remote operating environments.
• The recurring expenses on preventive maintenance and technical manpower limit operational cost benefits for end-users. This can restrain uptake from cost-conscious small and mid-sized companies. Flow computer vendors can mitigate this by offering training, pre-calibrated devices, cloud-based diagnostics, and outcome-based service models.

• Technical Complexities in Integration with Control Systems: Integrating flow computers with distributed control systems (DCS) or SCADA systems can be technically complex, time-consuming, and costly for end-users. It requires robust connectivity, compatible protocols, reliable interfacing, and extensive testing for seamless data transfer between systems. Troubleshooting integration issues requires considerable time and rework.
• Such integration complexities can deter adoption from risk-averse end-users. Flow computer suppliers can overcome this by providing pre-integrated bundled solutions with automation partners, detailed interfacing guidelines, remote implementation support, and integration testing services. Developing software-defined virtualized flow computers eases integration.

• Lack of Standardization in Solutions: The lack of industry-wide standardization in flow computing architectures, connectivity, data formats, and related technologies can hamper interoperability, increase costs, and limit adoption. The absence of common standards makes it challenging for end-users to switch between flow computer vendors or integrate devices from multiple vendors in the same infrastructure.
• Suppliers can help address standardization issues by actively participating in standards organizations, complying with standards, and providing solutions flexible to adapt to evolving standards. Developing software-based solutions decoupled from hardware enables flexibility to maintain interoperability as technology changes.

Recent Developments:

New product launches:

• In September 2022, Emerson Electric Co. is a diversified global manufacturing company that provides solutions and technology for a wide range of industries. launched new Rosemount 1408H Flow Computer for custody transfer and fiscal metering applications in the oil and gas industry. It provides high accuracy, reliability, and connectivity.
• In June 2021, ABB is a multinational corporation headquartered in Switzerland, specializing in robotics, power, heavy electrical equipment, and automation technology. launched FLOWBIRD flow computer for water, heat, and gas metering. It enables data monitoring and analytics for improved efficiency.
• In March 2022, Yokogawa Electric is a Japanese multinational company that specializes in industrial automation, control, and measurement technology. Launched WT6000 Precision Power Analyzer for high-accuracy measurement in industrial facilities. It aids in energy conservation and process optimization.

Acquisition and partnerships:

• In Oct 2020, Rockwell Automation Rockwell Automation is a global company that specializes in industrial automation and information technology. Please note that there may have been changes or developments since then, so it's a good idea to check the latest sources for the most current information. Acquired the cloud-native developer Oylo to leverage its expertise in industrial automation systems powered by machine learning and AI. This will aid in smart manufacturing.
• In August 2020, Schneider Electric is a multinational corporation that specializes in energy management and automation solutions. Acquired ProLeiT AG, a process automation manufacturer, to enhance its plant management portfolio with edge controller and MES software technology. This strengthened their Industry 4.0 solutions capabilities.

Figure 2. Global Flow Computers Market Share (%), by Product Type, 2023

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Top Companies in Flow Computers Market:

• Emerson Electric Co.
• ABB Ltd.
• Thermo Fisher Scientific Inc.
• Yokogawa Electric Corporation
• Schneider Electric SE
• Honeywell International Inc.
• Siemens AG
• Badger Meter, Inc.
• AMETEK Inc.
• Equinor ASA
• KT-Flow
• KROHNE Group
• OMNI Flow Computers, Inc.
• Schlumberger Limited
• SICK AG
• Logic Beach Inc.
• Flowmetrics, Inc.
• Contrec Ltd.
• Kessler-Ellis Products Co.
• TechnipFMC plc

Definition: Flow computers are electronic devices designed to calculate flow measurement of liquids, gases, and steam by collecting signals from flow meters and analyzers. They process the incoming data to generate standardized flow information regarding temperature, pressure, density, and other parameters. Flow computers have wide applications across oil & gas, chemicals, food & beverage, metals & mining, energy & power, and water & wastewater industries for fiscal metering, wellhead measurement, pipeline monitoring, and process control. They enable accuracy, reliability, efficiency, and automation in flow monitoring. Leading manufacturers offer innovative wired, wireless, and cloud-based flow computing solutions to help industries optimize operations, reduce costs, and make data-driven decisions.

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