Global Smart Water Meter Market was valued US$ 3.91Bn in 2017 and is expected to reach US$ 7.39Bn by 2026 at a CAGR of 7.33%.
This report provides a detailed analysis of the market segment based on Meter Type, Technology, Application and region. This report also focuses on the top players in North America, Asia Pacific, Europe, Middle East & Africa, and South America.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding the global Smart Water Meter market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the global Smart Water Meter market.
In terms of meter type, One-way smart water meters are expected to drive market during forecast period. As it allows one-sided communication that allows the user to gets the meter reading remotely with the help of drive-by and walk-by methods. Thus One-way smart water meters are projected to grow at around 17% by 2024. However, AMR (automatic meter reading) system-based one-way smart water meters are older-technology products and they are rapidly getting replaced by two-way smart water meters based on the AMI (advanced metering infrastructure) system.
Based on technology, electromagnetic meter and Ultrasonic meter segments are expected to expand at CAGRs of 14.54% and 15.02% respectively, during the forecast period. The water meter technology is changing rapidly and utility companies as well as individuals are giving penchant to ultrasonic and electromagnetic smart water meters. Furthermore, factors to boost the market are: its maintenance easy, smart water meters allow significant precision in meter reading due to their superior mechanism, and also meters are low at production cost and they use the existing cellular networks efficiently for communication with the users.
Smart Water Meter market has Strengthening global initiatives and growing measures that reduce Non-Revenue Water (NRW) for efficient resource utilization which drives water metering market. Furthermore, stringent government regulations that effectively monitor water distribution network along with precise assessment of the resource allocation which boosts the market growth. Development of infrastructure that provides proactive services and sleek the water supply management which further stimulate the industry outlook. Additionally, ongoing technological advancement for the development of effective and precise metering technologies will drive the market. While less concerns pertaining to water scarcity and increasing of water wastage will further restrain the industry landscape.
Region-wise, North American Smart Water Meter market accounted major share during forecasting period. Leading share of the region is primarily attribute strong presence of well-established players across the region, especially in the prominent economy i.e. the U.S. Moreover, U.S. Government are investing more in deploying innovative smart water meters in place of older water meters across the country. Thus North America is home to several well-established players that manufacture smart water meters, including Sensus USA Inc., Badger Meter, Inc., and Itron Inc.
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Scope of Global Smart Water Meter Market
Global Smart Water Meter Market, By Meter Type
• One-way Meter
• Two-way Meter
Global Smart Water Meter Market, By Technology
• Ultrasonic Meter
• Electromagnetic Meter
• Mechanical Meter
o Rotary Piston
o Nutating Disk
Global Smart Water Meter Market, By Application
Global Smart Water Meter Market, By Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Key players operating in Global Smart Water Meter Market
• Kamstrup A/S
• Diehl Stiftung & Co. KG
• Badger Meter, Inc.
• Itron Inc.
• Sensus USA Inc.
• Honeywell International
• Arad Group
• Neptune Technologies
• Elster Group GmbH
• Aclara Technologies LLC
• Datamatic, Inc.
• Neptune Technology Group Inc.
• B METERS s.r.l.
• Arqiva Ltd.
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