Smart Water Metering Market By Technology, Application, Reginal Growth and Key Players; Honeywell, Itron, Inc., Kamstrup, Aclara, Badger Meter, Neptune Technology Group, Diehl Group, Schneider Electric, Siemens, Sensus, Landis+Gyr
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According to a new research report by the market research and strategy consulting firm, Global Market Insights, Inc, the Smart Water Metering Market to cross USD 3 billion by 2024. 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).
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Schneider Electric
6. Itron, Inc.
9. Badger Meter
10. Neptune Technology Group
11. Diehl Group
Smart Water Metering Market for 2016 was over USD 900 million and will exceed USD 3 Billion by 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.
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Utilities smart water metering market is anticipated to witness an appreciable growth on account of intensifying water conservation measures in response to excessive NRW losses. Improved customer service, reduction in operational expenditure and workforce management are some of the distinguishing features validating the product’s supremacy across utilities.
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.
Browse key industry insights spread across 311 pages with 552 market data tables & 16 figures & charts from the report, Smart Water Metering Market in detail along with the table of contents:
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.
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.
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.
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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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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