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Smart Water Metering Market Revenue, Share, Key Vendors, Opportunities and Demand by 2023
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One of the major advantages of deploying smart meter is that it eliminates error in reading, as it is digital in nature. This leads to greater accuracy, in comparison to one way devices or conventional basic meters. Additionally, smart meters can be engaged in two-way communications with electric utilities for gathering data, and allowing various evolving smart water network applications, such as leak detection and meter reading.
The North American smart water metering market leads the global smart water metering market, due to early adoption of two-way water meters used in advanced metering infrastructure networks. The European smart water metering market is expected to grow with the highest rate in the coming years. In Europe, France is the fastest growing market.
Some advanced automatic meter reading systems can observe hourly usage in responding to billing inquiries, customer leak detection, theft detection and system planning. The remote meter reading ensures that customers receive bills reflecting actual usage, even without data logging. The installation of smart water meters also makes it non-imperative for the meter reading personnel to visit the customer premises.
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Some of the competitors in the smart water metering market are Diehl Stiftung & Co. KG, Neptune Technology Group Inc., Badger Meter Inc., Elster Group GmbH, Arad Group, Aclara Technologies LLC, Datamatic Ltd., and Itron Inc.
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