Global Smart Water Metering Market to US$57bn by 2024, Top Companies: Aclara, Badger Meter, Neptune Technology Group, Diehl Group, Schneider Electric, Siemens, Sensus, Landis+Gyr, Honeywell, Itron, Inc., Kamstrup

UK smart water metering market is projected to witness strong growth on account of active regulatory regimes pertaining to environmental sustainability and consumption pattern. For instance, in the UK, a smart metering program has been carried out by Thames Water, a utility that plans to install smart meters for its customers across Thames Valley and London by the year 2030.

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U.S. smart water metering market will witness growth of over 6% by 2024. Increasing efforts to map water leakage through distribution mains coupled with replacement of existing pipeline networks will further boost the industry growth. As per IBNET, in the U.S., an average of 24% water is lost per year as NRW.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Schneider Electric
2. Siemens
3. Sensus
4. Landis+Gyr
5. Honeywell
6. Itron, Inc.
7. Kamstrup
8. Aclara
9. Badger Meter
10. Neptune Technology Group
11. Diehl Group

For Europe, France smart water metering market will exceed an annual installation of 2 million units by 2024. Growing administrative emphasis for replacement of conventional meters coupled with financial government assistance will stimulate the business landscape. Foreign collaborations toward the deployment of high performance advanced systems along with efforts to reduce water theft will further enhance the industry outlook.

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Global Smart Water Metering Market is stringently controlled by a regulatory framework, owing to the norms enforced with regards to the conservation of water. As per the EC Directive 2000/60/EC, it is mandatory for respective nations to prioritize the prevention of water wastage and water conservation, especially in drought-ridden areas of the region.

Technologically, smart water meters can be deployed based on two key technologies – automatic meter reading (AMR) and automatic meter infrastructure (AMI). The deployment of smart water meters will augment the rising efforts to save water and prevent its unnecessary wastage, thereby stimulating smart water metering industry. A report by Global Market Insights, Inc., states that smart water metering market, worth more than USD 900 million in 2016, will register a revenue of more than USD 3 billion by 2024.

Smart Water Metering Market to grow at 4% CAGR till 2024. Adequate measures toward monitoring Non-Revenue Water (NRW) coupled with effective mapping of water resources will boost the smart water metering market. Increasing efforts to improve the efficiency of water networks and adequate addressing of unbilled water consumption will further enhance the business landscape. For instance, according to International Energy Agency (IEA), an average of over 34% of pumped water is lost as NRW as a result of theft, tampering, meter inaccuracy and faulty distribution networks.

Rising demand for accurate billing along with operational cost optimization will augment the smart water metering market. Increasing investment in development of smart grid infrastructure along with enhanced efforts for resource conservation will further complement the business outlook. AMI smart water metering market is predicted to witness robust growth owing to its ability to monitor unmetered water consumption while eliminating related metering discrepancies. Growing consumer inclination toward resource conservation and accurate billing will further complement the technology adoption.

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Growing private sector investments coupled with proactive adoption of smart technology solutions will propel the China smart water metering market growth. Rollout of cellular technology solutions along smart city projects for ensuring environmental sustainability will further boost the product adoption. The initiative augments the demand for effective water monitoring and allocates funds to deploy smart meters across the nation’s water networks.

AMR-based smart water metering market is slated to accomplish quite some valuation by 2024, driven by the easy availability, affordable maintenance, and low installation costs that this technology is endowed with. Indeed, AMR has been massively deployed in smart electric meters as well, gradually stimulating global smart electric meter industry share.

Residential market size is predicted to reach over USD 1 billion by 2024. Rising demand for accurate billing coupled with effective mapping of unregulated spending on water resources will positively impact the market. Ability of intelligent metering systems to reduce non-revenue water and secure remote monitoring will escalate its demand across residential establishments.

As the world experiences a tremendous need to conserve natural resources such as water, smart water metering market will gain considerable traction, subject to the rising demand for efficient water consumption. Smart meters help record real-time data and reduce water bills, thereby enabling water conservation. Indeed, water conservation has emerged as a pivotal need of the hour, as is evident from the efforts taken for the same across myriad geographies.

Key industry players operating in the smart water metering market comprise of Diehl Group, Neptune Technology Group, Apator, Schneider Electric, Siemens, Badger Meter, Aclara, Sensus, Landis+Gyr, Honeywell, Itron, Inc., Kamstrup, Arad Group, and Jiangxi Sanchuan Water Meter Co., Ltd.

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