Press release
How Smart Water Metering Market will Grow at Highest CAGR
Smart Water Metering Market
For More Information and Detailed Scope of this Report, Visit @ https://www.fortunebusinessinsights.com/industry-reports/smart-water-metering-market-100776
Key players in the smart water metering market Include Kamstrup A/S, Diehl Stiftung & Co. KG, Badger Meter inc., Itron Inc., Sensus USA Inc., Neptune Technologies, ARAD Group, Aclara Technologies LLC, Elster Group and Mueller Systems LLC.
“Diehl Software Will Be Accessible On Microsoft Azure”
Diehl meter, smart metering and energy services company launched a new technology called IZAR Meter Data Management software which will be accessible on Microsoft Azure Platform. The IZAR software will offer a principal platform for all of the energy data, thus making the process cost-effective and simpler. The digital water meter market will witness high growth due to the launch of novel software such as IZAR, which includes comprehensive data analysis, leakage recognition, network optimization, customer services and network optimization.
Acquisitions by key companies are also predicted to aid the growth of the digital water meter market. For instance, Zenner took over Alfa Centauri SpA, expanding its position further in the global smart meter market. Zenner has already been providing heat meters, smart water meters, and heat cost allocators for many years. This factor is likely to fuel demand for digital water meters and hence enable the growth of the digital water meter market.
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“Rising Water Consumption to Support Growth”
Smart water meters are essentially used to monitor water usage and track water accurately in homes, industries, and other places. The rising pressure on water utilities has fueled demand for IoT water meters, owing to the numerous benefits associated with the digital water meters. The technology used in smart water meter can monitor every drop of water besides offering benefits of enhanced leak detection and unparalleled data acquisition. The demand for digital water systems is likely to grow due to the escalating population worldwide and also increasing investments by the government for water-related programs.
For instance, in 2016, the U.S. government announced to allocate US$ 37.5 Bn to provide financial assistance to energy and water programs to avoid the water scarcity crisis. This factor is expected to aid in the expansion of the smart water meter size. Further, growing technological advancement in water meters such as leakage detection along with the rising number of residential buildings and increasing water consumption in countries is also expected to boost the digital water meter business.
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“Increasing Government Investments Will Promote Growth in North America”
Geographically, the global IoT water meter is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. North America is expected to dominate the global IoT water meter industry due to the presence of various key players in the region along with high investments by the government for the deployment of digitally innovative water meter in the place of the traditional water meter. The above factors are supporting the expansion of the global IoT water meter across the region. Further, rising government initiatives for the regulation of water wastage while bearing in mind the environmental protection in Asia-pacific nations is predicted to contribute growth to the digital water system industry.
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Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
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