Market Challenges And Opportunities

Restraints & Challenges:

High cost of intelligent flow meters

Global Intelligent Flow Meter Market Restraints:

High initial cost of intelligent flow meters

Intelligent flow meters help plant manufacturers to monitor the flow trend of liquid and gases, improve operational efficiency, and enhance visibility. Thus, intelligent flow meters are expected to provide lucrative growth opportunities in the market. However, the initial cost of intelligent flow meters is high and is expected to hinder the market growth during the forecast period.

Global Intelligent Flow Meter Market Drivers:

Growing demand for Flow Meters in Oil & gas segment

Among end-use industries, the oil & gas segment is expected to hold a dominant position in the global intelligent flow meter market during the forecast period. This is attributed to the rapid growth of the industry. The development of shale gas reserves is also propelling the demand for intelligent flow meters in the oil & gas industry. For instance, in January 2023, a report published Statista forecasted that Shale gas and tight oil production in the United States is forecast to increase to nearly 34 trillion cubic feet by 2050, up from 24.91 trillion cubic feet in 2021. Intelligent flow meters are an effective solution to measure the flow rate of upstream and downstream processes, liquid hydrocarbons, and custody transfer within the oil & gas industries.

Global Intelligent Flow Meter Market Opportunities:

Opportunity to grow into the regions such as Middle East and Africa

Manufacturers in end-use industries such as oil & gas, chemical, food & beverages, and water & wastewater are looking for solutions that help in providing real-time data analysis and help them to get better visibility of the manufacturing plant in order to enhance the efficiency of the plant for that demand for intelligent flow meter software is growing. The flow meter market has better opportunity to grow into the regions such as Middle East and Africa as they have most of the oil production in the rest of the world.