Global Smart Flow Meter Market Size study & Forecast, by Type (Magnetic, Coriolis, Ultrasonic, Vortex, Multiphase and Others), by End-User ( Water and Wastewater, Power Generation, Chemical, Food and Beverages, Oil and Gas and Others), by Communication Pr

Global Smart Flow Meter Market Size study & Forecast, by Type (Magnetic, Coriolis, Ultrasonic, Vortex, Multiphase and Others), by End-User ( Water and Wastewater, Power Generation, Chemical, Food and Beverages, Oil and Gas and Others), by Communication Protocol (Profibus, Modbus, Hart and Others) and Regional Analysis, 2022-2029

Global Smart Flow Meter Market is valued at approximately USD 2.7 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 7.4 % over the forecast period 2022-2029. Smart flow metres provide data with more accuracy. For fluids, gas, or any liquid that runs past it, it delivers precise readings. These gadgets are effective in supplying precise real-time data for analysis. They are also capable of offering immediate feedback and a different course of action. This aids in reducing expenses related to damages of any kind. The Smart Flow Meter market is expanding because of factors such as rise in demand for Internet of Things (IoT) based devices, growing industrial demand for safety concerns and rising demand for real time data analysis. However, high cost of Smart Flow Meters may halt market growth.

Equipment for measuring flow has increased as a result of increased industrial automation. This results in new product developments and improved technology as well. For electromagnetic flow metres, the same holds true. They are expected to be improved more and more with each technological advancement because they provide data that is more accurate with each advancement. This presents a significant possibility for the market for smart flow metres to grow. According to Statista, in year 2019 number of Internet of Things (IoT) connected devices worldwide stood at 8.6 billion which increased to 11.28 billion in year 2021 and it is expected to reach 29.42 billion by year 2030. In addition, growing demand for electromagnetic smart flow meters is creating lucrative growth in the market. However, the high cost of Smart Flow Meters stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Smart Flow Meter Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the rising activities in the oil & gas industry, rising demand in the food and beverage industry, and wastewater management operations. Moreover, industrial automation also encourages the growth of smart flow meters in the market. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising mining activities, geographic expansion of key players, and active participation of government and nonprofit organizations in the market space.

Major market players included in this report are:
ABB Ltd
Emerson Electric Corporation
em-tec GmbH
General Electric
Hitachi Ltd. (Hitachi High-Tech Corporation)
Siemens
Honeywell International Inc.
ZENNER International GmbH and Co. KG
Peltek India
Badger Meter, Inc.

Recent Developments in the Market:
In December 2021, ABB Ltd announced the launch of bidirectional electromagnetic flow meters which would also enable a water loss management system.
in March 2020, Emerson, announce the launch of Daniel T-200, a product is titanium-housed transducer for gas ultrasonic flow meter product line.

Global Smart Flow Meter Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, End-Use, Communication Protocol, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and End Use offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Type:
Magnetic
Coriolis
Ultrasonic
Vortex
Multiphase
Others

By End-User:
Water and Wastewater
Power Generation
Chemical
Food and Beverages
Oil and Gas
Others

By Communication Protocol:
Profibus
Modbus
Hart
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Companies Mentioned
ABB Ltd
Emerson Electric Corporation
em-tec GmbH
General Electric
Hitachi Ltd. (Hitachi High-Tech Corporation)
Siemens
Honeywell International Inc.
ZENNER International GmbH and Co. KG
Peltek India
Badger Meter, Inc.

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