Increasing Adoption of Technology to Boost Global Smart Water Meters Market (2016-2024)
Factors that are expected to drive the global smart water meters market include increasing demand from water utilities to provide proactive services by establishing water consumption patterns using predictive analysis, reducing operational costs, and streamlining the water supply management. Furthermore, urgent need for identification of water leakages, upgrade of aging, traditional water infrastructure, and accurate billing amidst increasing environmental stress and water scarcity is anticipated to drive the global smart water meters market. Besides this, growing adoption of smart IT solutions by water utilities across the world is expected to fuel the market.
However, factors including high initial investments and high installation and licensing fees coupled with software support services are expected to act as restraints for the global smart water meters market.
The global smart water meters market can be segmented on the basis of technologies, components, end-users, and regions. On the basis of technologies, the market can be segmented into AMR (automatic meter reading) and AMI (advanced metering infrastructure).
On the basis of components, the global smart water meters market can be segmented into manufacturers, installers, and data & network management firms. Of these, the data & network management firms segment is expected to hold a major share in the global smart water meters market during the forecast period. This is owing to its sustainable value and long-term viability. Manufacturers and installers are expected to follow the data and network management firms, as timely replacement and upgrade of meters is likely to gain importance.
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On the basis of end-users, the global smart water meters market can be segmented into water utilities and commercial users.
Geographically, the market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is anticipated to dominate the global smart water meters market. This is owing to widespread yet traditional infrastructure of water meters in the region. Europe is projected to follow North America. Replacement of first-generation devices is anticipated to further boost the market in Europe. Also, improving investment environment bolstered by strong government support is estimated to drive the market in the region. The market in Asia Pacific is also anticipated to witness substantial growth.
Key players operating in the global smart water meters market include Minsen Meter Co., Ltd., Itron Inc., Elster Group GmbH, Landis+Gyr, Kamstrup A/S, Silver Spring Networks, Aclara Technologies LLC, Badger Meter, Inc., Datamatic, Inc., Diehl Metering GmbH, Neptune Technology Group Inc., B METERS s.r.l., Arad Ltd., and Arqiva Ltd.
MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
The report provides the following information:
-Tailwinds and headwinds molding the market’s trajectory
-Market segments based on products, technology, and applications
-Prospects of each segment
-Overall current and possible future size of the market
-Growth pace of the market
-Competitive landscape and key players’ strategies
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