Intelligent Flow Meter Market, By Type (Magnetic, Coriolis, Ultrasonic, Vortex, Multiphase, Thermal, Turbine, Variable Area, and Differential Pressure), By End-use (Chemicals, Power generation, Food and beverages, Metals & mining, Oil & gas, Paper & pulp, Pharmaceuticals, Water & Wastewater, and Others), By Region (North America, Latin America, Europe, Middle East, Africa, and Asia Pacific)- Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030
Intelligent flow meter is a linear and non-linear volumetric flow of the liquid measuring electronic device. Intelligent flow meters are used in many industries such as food & beverages, oil & gas, chemical, and pharmaceuticals. The demand for intelligent flow meters is increasing, as they are more reliable, accurate, and stable for calibration. The adoption of flow measurement technologies in various industries such as petroleum, chemical, oil & gas, and wastewater has increased the demand for intelligent flow meters in the market. The demand for flow rate measurement in the oil & gas industry is increasing, owing to the detection of shale gas reserves in North America, Europe, and Asia Pacific regions. Furthermore, custody transfer in the oil & gas industry is one of the major applications that create lucrative opportunities for intelligent flow meters.
Market Dynamics:
The global intelligent flow meter market is expected to grow significantly during the forecast period, owing to the increasing adoption of internet of things (IoT) based sensors for smart flow meter solutions. Advancements in technologies such as digital readouts, advanced sensors, wireless monitoring, and control are also driving the market growth. Advanced IoT enables automatic readings and collects data automatically and remotely. Technological advancements in products, increasing urbanization, growing population, and rising disposable income are some of the factors that are expected to propel the market growth during the forecast period. However, the calibration of intelligent flow meters is a time-consuming process that is expected to hinder the market growth in the near future.
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