According to the report titled ‘Global Intelligent Flow Meter Market Size, by Type (Coriolis intelligent flow meter, Electromagnetic intelligent flow mater, Vortex intelligent flow meter, Ultrasonic intelligent flow meter and Others), by Technology (PROFIBUS, HART and Others), by Application (Water and wastewater, oil & gas, chemicals, pharmaceuticals, Food & beverage, power generation and others) and Regional Forecasts 2020-2027’, available with Market Study Report, global intelligent flow meter market was valued at USD 2.39 billion in 2019 and is projected to expand with a CAGR of 4.4% during 2020-2027.
 

Equipment ability to not be influenced by temperature, viscosity, and any suspended materials, in consort with amplifying water & wastewater sector are driving the growth of global intelligent flow meter market.
 

Notably, intelligent flow meters are specifically used to determine the velocity of a fluid by means of ultrasound or other volume flow measurement techniques. It is used in various end-use industries to measure fluidic phenomena along with commercial applications such as food & beverage, water & wastewater, pharmaceutical, and oil & gas sectors, which is augmenting global intelligent flow meter market expansion.
 

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According to International Wastewater Association, the wastewater flow rate in Aqaba is expected to be 61,000 m3/day by 2030 and tenders to increase treatment capacity to 70,000 m3/day are being allotted. Similarly, more than 12,000 m3/day wastewater treatment capability in Bangkok will also be initiated by 2030. Escalating wastewater generation, growing usage of diagnostic information, in conjunction with standard flow measurement data are driving worldwide intelligent flow meter industry expansion.
 

However, hefty initial cost of Coriolis and magnetic flow meters is likely to impede the overall market landscape over the study period.
 

Citing the regional landscape, worldwide intelligent flow meter market sphere is segmented into North America, Latin America, Asia Pacific, Europe, and Rest of the World. The report claims that North America holds significant market share currently and is expected to grow further over the assessment period. The regional growth is credited to expanding water & wastewater and chemical industries.
 

Meanwhile, Asia Pacific industry is expected to register a decent growth rate through 2027, owing to high investment in industrial infrastructure.
 

Leading organizations influencing global intelligent flow meter market trends are Krohne Messtechnik GmbH & Co. KG, General Electric Company, Brooks Instrument LLC, Azbil Corporation, Yokogawa Electric Corporation, Siemens AG, Honeywell International Inc., ABB Limited, Endress+Hauser AG, and Emerson Electric Company.