New ARC Advisory Group research on the global flowmeters market reveals that owner-operators continue to strive to improve process and asset performance by implementing new technologies. These include increasing adoption of wireless process measurements and IIoT-enabled asset condition monitoring and remote services.
Wireless technology allows users to install field devices in measurement points that previously were not feasible due to the high cost of wiring. New encryption and mesh networking technologies address user concerns about the security and reliability of wireless transmission of process data. Increased adoption of these technologies across the plant floor along with IIoT-enabled asset condition monitoring and remote services are expected to push the demand for flowmeters in the coming years.
“Forward-looking suppliers are already investing to bring IIoT-enabled technologies to the field device level. IIoT capabilities, such as remote monitoring and remote services, can help establish a more collaborative relationship between end users and suppliers. While the interest in IIoT can be seen across all the industries, suppliers anticipate higher level of implementation in chemicals, food & beverage, oil & gas midstream sectors like terminals, and applications involving operating and maintaining assets in remote locations,” according to Amruta Kanagali, Senior Analyst at ARC Advisory Group and key author of ARC’s Flowmeters Global Market Research 2017-2022 report.
About the Flowmeters Research
This ARC research explores current market performance and related technology and business trends, identifies leading technology suppliers, and provides five-year global forecasts for the flowmeters market. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modeling techniques. The research includes competitive analysis, plus five-year market forecasts by region, industry, flowmeter type, sales channels, and customers.
This new research is available in a variety of formats to meet the specific research and budgetary requirements of a wide variety of organizations. These include a:
- Market Intelligence Workbook (Excel) – personalized spreadsheet includes the current base year market data and five-year market forecast. This workbook enables licensed users to freely manipulate the data to make it easier to analyze the latest data for business intelligence and generate custom reports.
- Concise Market Analysis Report (PDF) – provides an executive-level summary of the current market dynamics, market forecasts, and competitive analysis, plus an overview of strategic issues. The PDF is available with or without detailed charts.
For more information on this and other available ARC market research, please visit our Market Data & Studies section.