Smart Water Meter Market Volume is expected to surpass $22.1 Million by 2023 | Global Players: SENSUS USA, AICHI TOKEI DENKI, MUELLER SYSTEMS, DIEHL STIFTUNG, APATOR SA, NEPTUNE TECHNOLOGY GROUP, BADGER METER

Smart Water Meter Market Highlights:
The smart water meter market witnessed 11.8 million unit shipments in 2017 and is expected to reach 22.1 million unit shipments by 2023, at a CAGR of 11.2% over the forecast period (2018 - 2023). The report discusses the end users that use these products. The regions considered under the scope of the report include North America, Europe, and various others. The study also emphasizes on how the need for billing accuracy and customer convenience is affecting the market.

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With increasing pressure on water utilities, owing to the growing demand, increasing water stress, rising energy prices, and aging water systems, the smart water network solutions have emerged with significant benefits, by combining advanced metering technology, software, and effective communications systems. The integration of the said components, enables end users to account for every drop and turn water into revenue through enhanced leak detection and unparalleled data acquisition. Moreover, the critical need for optimized consumption of water in water-scarce areas is expected to drive the smart water meter market. For instance, according to the World Water Development Report, 480 million people in Asia alone will face water scarcity in the future.

Key Developments in the Market
• October 2017: Kamstrup’s MULTICAL 21 water meter was made available with integrated Sigfox communication that allows utilities to utilize an already-installed communication infrastructure, rather than investing in a new one.
• June 2017: Mueller Systems collaborated with Senet to deliver metering infrastructure to water utilities across North America. Senet is the first and a growing North American provider of public, low-power, wide-area networks (LPWANS) for long-range Internet of Things (IoT).
• January 2017: Badger Meter announced the introduction of two new vortex-flow meters: VN2000 Hot Tap and VN2000 Compact insertion vortex flow meters.

The major players include –
SENSUS USA INC., AICHI TOKEI DENKI, ZENNER INTERNATIONAL GMBH & CO. KG, MUELLER SYSTEMS LLC, DIEHL STIFTUNG & CO. KG, APATOR SA, NEPTUNE TECHNOLOGY GROUP INC, BADGER METER INC, AZBIL KIMMON CO. LTD, KAMSTRUP A/S, CHONGQING SMART WATER METER GROUP, ARAD GROUP, amongst others.

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Increase in Billing Revenue and Accuracy to Drive the Demand
Smart meters boost a utility’s ability to precisely and timely bill customers for the extent of water used. The remote-read capability allows for smaller intervals between billing reads, better business preparation in understanding future revenue streams, or producing a continuous flow of capital. The upgrade to smart water meter yields a more accurate billing process, which, in turn, increases utility revenue. Smart meters also cut the labor costs, with their advanced reading process. Most of the smart water meters consist of a radio transmitter that allows crews to receive meter information by traveling by a house or building. Further, intelligent alerts in the ultrasonic water meter enable efficient leak detection and lower the amount of non-revenue water, because faster detection of leaks can help in mitigating water losses.

Growing Demand from the Industrial segment to Augment Growth
In industries, utilities are undergoing a global transformation into the information age, based on the assumption that consumers and utilities will gain from collecting and distributing granular, real-time information, especially the water and wastewater treatment plants. Smart water meters in industries are utmost useful in handling the heating and cooling systems that have substantial energy requirements, when compared to other equipment. Moreover, as various end users deploy AMI across their distribution grids, the customer-related data can be remotely monitored, allowing major industries to adjust their water usage accordingly. Moreover, smart water meters also enable two-way communication between the meter and the central system employed by the utilities, streamlining their business process, saving time and cost in the process.

North America is the Largest Market
Water scarcity in the western region, along with the ageing infrastructure in the Mid-West and East, has helped underpin the requirement to tackle efficient remote meter reading that can help benefit revenue generation and improve consumer service. Moreover, as North America is a more developed market, the utility base is in harmony with the smart meter technology and is starting to take on advanced data solutions. In addition, Halifax Water, the Canadian utility, secured approval from the Nova Scotia Utility and Review Board (NSUARB) to upgrade the region’s water meters. The water distribution and treatment firm announced plans to replace existing analogue water meters with automated smart water metering systems from early 2017. With such initiatives expected to become common in future, the demand for smart water meters is expected to increase.

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