Smart Water Metering Market Inclinations & Development Status Highlighted
- Need for Smart Water Metering to Optimize Water Consumption
In water-scarce areas, the critical need for optimized water consumption drives the implementation of smart water meters. For example, 480 million individuals in Asia alone are anticipated to experience water scarcity in the future, according to a study from the World Water Development Report.
Adopting strict laws for tracking the water distribution network combined with increasing requirements for precise allocation of resources will increase the penetration of smart water metering sector. Increasing investment in infrastructure growth directed at providing proactive services and a streamlined water supply process will increase these systems ' installation.
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- Utilities' Focus Toward Reducing Nonrevenue Water
Growing policies and stepping up worldwide initiatives to minimize Non-Revenue Water (NRW) will drive the smart water metering market as a result of increasing demand for effective use of resources. Increasing the implementation of sustainable water management alternatives along with increasing focus on their conservation will boost the demand for the product. Furthermore, shifting trends towards the digitalization of distribution systems to improve effectiveness will further increase the perspective of the sector.
Factors Restraining the Market Growth:
- Lack of availability of capital funding
The absence of capital funding availability continues a significant challenge that hinders smart water meter implementation. There are also elevated operating costs related to smart water metering. Therefore, many water utilities are not filled with money and spend a lot of their money on repairing the network just to preserve the status quo.
Market Segmentation 2019-2029:
The Smart Water Metering Market is segmented on Meter Type, Technology, Component, Application, and Regional basis.
- Meters & Accessories
- IT Solutions
- Water Utilities
Focused regional forecasts and analysis explore the future opportunities:
- North America
- Global heat shrink tubing competitive environment is expected to be moderate over the period ranging 2019 - 2029 by virtue of limited manufacturers operating in this industry
- The market competition is expected to be on the basis of new product development and product pricing.
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Major Market Players:
Sensus USA Inc., Aichi Tokei Denki Co. Ltd, Zenner International Gmbh & Co. KG, Mueller Systems LLC, Diehl Stiftung & Co. KG, Apator SA, Neptune Technology Group Inc, Badger Meter Inc., Azbil Kimmon Co. Ltd, Kamstrup AS, Arad Group
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Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
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