U.S. Smart Water Metering Market to grow at 6% CAGR over 2018-2024 | Key Players are Kamstrup, Aclara, Badger Meter, Neptune Technology Group, Diehl Group, Schneider Electric, Siemens, Sensus, Landis+Gyr, Honeywell, Itron, Inc.

Smart Water Metering Market in united states is expected to witness exponential growth during the forecast period. Ongoing water conservation reforms coupled with government funding toward installation of smart grid technologies will positively drive the product adoption. In 2013, the U.S. Department of Energy and the Smart Grid Investment Grant (SGIG) mutually sponsored the installation of smart grid infrastructure in the nation and provided a federal financial assistance of over USD 8 billion in 99 ventures.

Water conservation has emerged to be an issue of global concern, given the depleting sources of water across numerous geographies. Efforts are being undertaken at a governmental as well as provincial level in order to address the problem. Say for instance, the Indian and Israeli governments have recently inked a MoU, according to which both the nations would work side by side at the national and international level for designing, implementing, and monitoring a ‘National Water Conservation Campaign’ prioritizing water conservation. Not to mention, numerous companies partaking in smart water metering market are engaged in periodic mergers and acquisitions to consolidate their position in this business space. Aided by a strong legislative framework and the efforts undertaken by myriad companies and provincial governments, smart water metering industry is likely to chart out a profitable growth path over the forthcoming years.

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The United States is one of the most foremost growth grounds for smart water metering market. Incidentally, Glendale was the first city in the United States that set a benchmark for better utility management and responding to unexpected natural calamities such as droughts, by means of implementing smart meters to develop a smart grid network. The rising adoption of smart water meters will thus majorly drive U.S. smart water metering industry. Not to mention, the region has a strict regulatory frame of reference in place, which would serve to drive smart water metering industry.

Smart meters help curb water losses and streamline billing processes. In this regard, water utilization data gathered by AMI-based smart meters help to identify problems in water distribution and manage water allocation in an efficient manner, which eventually serves to understand consumer requirements. On these grounds, it has been forecast that AMI-based smart water metering market size is slated to register a stupendous CAGR of 28% over 2017-2024. While AMI technology is relatively advanced, it is prudent to mention that its excessive cost may restrain its growth over the next few years.

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

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

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Implementation of favorable government policies and rollout programs toward the adoption of intelligent systems will boost the smart water metering market. Initiatives focusing on effective water monitoring and conservation will further propel the industry landscape. For instance, the European Union in collaboration with the International Monetary Fund announced a mandatory rollout of smart water meters in Ireland.

Rising demand for effective management, monitoring, and utilization of water will fuel the smart water metering market. Global initiatives toward water conservation and measures to address water scarcity will further propel the business landscape. In 2015, the U.S. average water consumption has witnessed significant drop owing to growing water conservation concerns across various states in the country.

Growing measures toward effective mapping of water distribution coupled with regulatory regimes to limit non-revenue water loss will complement the Europe smart water metering market. Increasing administrative emphasis toward the development of high performance advanced systems will further embellish the industry growth.

Residential sector is one of the prominent terrains that has benefited the most from the increasing proliferation of AMI based smart meters. In fact, smart water metering market share from residential application is slated to cross billion-dollar frontier by 2024. The projected dominance of this particular business vertical can be majorly attributed to the increasing demand for accurate water bills and effective formulation of unregulated water spending. With the introduction of these meters, financial issues and pipeline leakages are better handled as they track real time water consumption and reduce water loss through NRW.

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:

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Ongoing technological advancement to develop effective and precise metering technologies will boost the commercial smart water metering market. Rising concerns relating to reduction of water wastage and water scarcity will further facilitate the product adoption.

With the digital revolution making headway in the water industry, smart water metering market is turning out to be the next opportunistic spot for potential investors. Changing demographics, water scarcity, and the substantial requirement of operational efficiency are demanding new business models in the water sector. Indeed, sustainable utilization of water has become an absolute need of the hour, quite conspicuous from the extensive initiatives undertaken worldwide with regards to water conservation. As per The United Nations World Water Development Report 2015, the world is forecast to face nearly 40% water deficit by 2030, under the business as usual climate scenario. Not to mention, the prediction itself calls for an urgent requirement of dramatically changing the way water is utilized, managed, and transmitted. Emergence of sustainable water management solutions to deliver more prognostic and proactive services has played a pivotal role in propelling smart water meter industry trends.

While the business space is relatively a new field, it has evolved with extreme rapidity over the past few years, as increasing number of water utilities are integrating real-time data analytics in varied operations to improve the service model. The backbones of smart water metering market are AMR (automatic meter reading) technology and AMI (advanced meter infrastructure) technologies. In fact, AMI based market is projected to witness a robust growth of 28% CAGR over 2017-2024, on virtue of its excellent credential to streamline billing process. Water utilization data assembled by AMI-based smart meters help to recognize problems in water distribution and manage its allocation in an efficient manner, which by extension serve consumer requirements. While AMI is relatively advanced, high cost associated with the system may deter the growth path to some extent.

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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