Intelligent Flow Meter: Introduction
- An intelligent flow meter is used to measure fluidic phenomenon in a wide range of industrial as well as commercial applications
- An intelligent flow meter measures the velocity of a fluid with ultrasound or any other technique to calculate the volume flow accurately as compared to traditional flow meters
- Intelligent flow meters have one prominent advantage - they are not affected by external weather conditions and factors such as temperature, density, and velocity, owing to which they provide accurate measurement readings
- Intelligent flow meters use non-contact type sensors, such as a laser beam or an ultrasonic beam which sends and gets reflected back from flowing liquid or gas and the movement of the moving fluid is displayed on the screen
- Intelligent flow meters are used in various applications such as chemicals, food & beverages, metals & mining, oil & gas, pharmaceuticals, power generation, and water & wastewater
Rise in Demand for Intelligent Flow Meters for Use in Industrial Applications
- Intelligent flow meters are used in multiple industries and in water & wastewater applications, as these meters not only monitor the flow rate of a liquid or gas on a real-time basis but also provide feedback for the precise control of flow rate
- Demand for continuous and accurate flow measurement is fulfilled by the installation of flow meters in industries such as water & wastewater and food & beverages
- Use of intelligent flow meters helps in maintaining the stability of the flow of liquid or gas according to the velocity. It is also suitable for complex measurement activities in chemicals and oil & gas industries
- Furthermore, various factors are taken into consideration to improve the accuracy of intelligent flow meters, such as the use of technology, the type of fluid to be measured, and the application for which measurement is done
- As a result of these factors, demand for intelligent flow meters for industrial applications is growing, which is expected to drive the market during the forecast period
- However, high initial cost of coriolis and magnetic flow meters is a key element restraining the growth of the market. Additionally, less accuracy and fragility of intelligent flow meters is a major factor which is negatively impacting the growth of the global intelligent flow meter market.
Are you a start-up willing to make it big in the business? Grab an exclusive PDF Brochure of this report
North America to Lead the Intelligent Flow Meter Market
- In terms of region, the global intelligent flow meter market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America is anticipated to dominate the global intelligent flow meter market throughout the forecast period, as a large number of manufacturers of intelligent flow meters operate in the region
- Additionally, many well-established players based in North America are focusing on development of new technology in intelligent flow meters, which is expected to boost the intelligent flow meter market in the region during the forecast period
- The intelligent flow meter market in Europe and Asia Pacific is expected to expand at a substantial rate during the forecast period. On the other hand, the market in Middle East & Africa and South America is estimated to expand at a moderate pace during the forecast period.
Key Players Operating in the Global Intelligent Flow Meter Market
The global intelligent flow meter market was highly fragmented in 2019. Major players operating in the global market are focusing on technological advancement and expansion to meet the rising demand for intelligent flow meters. Moreover, manufacturers are signing partnerships for the development of innovative products.
Key players operating in the global intelligent flow meter market are listed below:
- Azbil Corporation
- Badger Meter, Inc.
- Baker Hughes Company
- Emerson Electric Company
- Endress+Hauser AG
- General Electric Company
- Honeywell International Inc.
- Krohne Messtechnik GMBH
- Schneider Electric
- Siemens AG
- Yokogawa Electric Company
For Right Perspective & Competitive Insights on Intelligent Flow Meter Market, Request for a Sample
Global Intelligent Flow Meter Market: Research Scope
Global Intelligent Flow Meter Market, by Type
- Coriolis Intelligent Flow Meters
- Electromagnetic Intelligent Flow Meters
- Magnetic Intelligent Flow Meters
- Ultrasonic Intelligent Flow Meters
- Vortex Intelligent Flow Meters
Global Intelligent Flow Meter Market, by Communication Protocol
Global Intelligent Flow Meter Market, by Application
- Food & Beverages
- Metals & Mining
- Oil & Gas
- Power Generation
- Water & Wastewater
Global Intelligent Flow Meter Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.