The "Global Intelligent Flow Meter Market By Type (Coriolis, Magnetic), By Communication Protocol (PROFIBUS, Modbus), By Application (Oil and Gas, Paper and Pulp), By Geographic Scope & Forecast, 2023-2030" report has been published by Verified Market Research®. The report provides an in-depth analysis of the global Intelligent Flow Meter Market, including its growth prospects, market trends, and market challenges.
JERSEY CITY N.J., April 26, 2023 /PRNewswire/ -- The Global Intelligent Flow Meter Market is projected to grow at a CAGR of 5.96% from 2023 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 7.76 Billion in 2021 and is expected to reach USD 13.02 Billion by the end of the forecast period
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Global Intelligent Flow Meter Market is expected to grow significantly in the coming years, driven by increasing demand from the oil and gas industry
The global Intelligent Flow Meter Market is expected to grow at a CAGR of 5.96% from 2023 to 2030. The market is dominated by key players such as Endress + Hauser AG, Emerson Electric Co., Brooks Instruments, ABB Ltd., Azbil Corporation, Sierra Instruments Inc., Siemens AG, Krohne Messtechnik GmbH, Honeywell International Inc., and General Electric Company. These players are expected to focus on product benchmarking and SWOT analysis, key development strategies aimed at expanding their market share and increasing their customer base.
Intelligent flow meters are widely used for the measurement of fluid levels in industrial applications. The device determines the volume of any fluid based on its flow rate or velocity of flowing. The primary reason behind their higher use is that flow meters are unaffected by factors such as viscosity, temperature, density, and any suspended particulates. Unlike mechanical flow meters, intelligent flow meters have electronic parts instead of moving ones. The higher accuracy, reliability, and stability provided by intelligent flow meters are the prime factors contributing to their market demand.
The oil and gas industry is the primary end user for intelligent flow meters, which has accelerated the growth of the global intelligent flow meter market. Furthermore, technological advancements such as remote monitoring, advanced sensors, etc. have further increased the applications of intelligent flow meters.
Based on the mechanism used, intelligent flow meters are classified as Coriolis intelligent flow meters, electromagnetic intelligent flow meters, vortex intelligent flow meters, and ultrasonic intelligent flow meters. Each type of flow meter has its advantages and disadvantages, and they are used based on the specific requirements of the industry.
The growth of the intelligent flow meter market is attributed to the higher accuracy and precision provided by the device, along with the ability to improve calibration standards. Moreover, intelligent flow meters also provide inputs regarding flow rate management, which has increased their industrial demand.
In conclusion, the global Intelligent Flow Meter Market is expected to grow significantly in the coming years, driven by increasing demand from the oil and gas industry and technological advancements in the field. With the potential to improve accuracy, reliability, and stability in flow measurement, intelligent flow meters are set to play a critical role in the industrial sector.
Based on the research, Verified Market Research® has segmented the global Intelligent Flow Meter Market into Type, Communication Protocol, Application, And Geography.
- Intelligent Flow Meter Market, by Type
- Coriolis
- Magnetic
- Vortex
- Multiphase
- Ultrasonic
- Others
- Intelligent Flow Meter Market, by Communication Protocol
- PROFIBUS
- Modbus
- HART
- Others
- Intelligent Flow Meter Market, by Application
- Oil & gas
- Paper & Pulp
- Pharmaceuticals
- Water & Wastewater
- Others
- Intelligent Flow Meter Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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