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Smart Water Metering Market 2020 by Industry trends, Growth & Regional Forecast To 2024 | Diehl Metering, Neptune Technology Group, Inc., Apator, Schneider Electric SE, Siemens, Badger Meter, Inc., Aclara Technologies LLC, Sensus, Landis+Gyr, Honeywell El
Smart Water Metering Market
Japan smart water metering market is predicted to grow over USD 44 million by 2024. Growing need to ensure effective supply coupled with ongoing government norms toward encouraging efficient smart metering technology will complement the industry landscape. The Measurement Act defines the time frame for replacement and accuracy requirement for water meters ensuring the reliability and efficiency.
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Accessibility of real time consumption data along with low-cost will stimulate Asia Pacific smart water metering market growth. These systems automatically diagnose & collects the consumption data and transfer reliable information to a central database for effective billing and one-way communication. AMR technology is considered as a preferred option across the industry in resolving issues pertaining to growing NRW loss, leakage detection and unreliable billing.
Malaysia smart water metering market is set to grow on account of ongoing private sector funding coupled with adoption of smart solutions for ensuring streamlined operations. Large NRW losses on account of leakages in the distribution network and aging infrastructure have deteriorated the health of utilities. As per the estimates of Ministry of Energy, Green Technology and Water, the Non-Revenue Water estimated over 31% in 2015.
China is expected to emerge as one of the most pivotal revenue grounds for APAC smart water metering market, particularly on account of the extreme water scarcity and the poor quality of water in the country. The issue is vividly being addressed by the government by means of active promotional programs in tandem with the implementation of digital devices.
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Reports claim that Chinese government, in its 12th & 13th five-year plans, has launched the smart city investment hub to propel the deployment of smart water and electricity meters across the country. Powered by the support of government authorities, APAC smart water metering market size from China is anticipated to grow at a CAGR of 15% over 2018-2024.
Currently, most of the countries in the Asian continent have been involved in smart city projects in order to encounter the basic needs of the growing populace in the urban areas. Say for instance, in India, the union government has planned to develop dozens of smart cities, considering the future consequences of robust urbanization. Citing the smart city strategy across India, the U.N. agency that deals with cities, UN-Habitat estimates that by the end of 2025, India will have approximately 300 million urban residents. In line with the increasing population, it would indeed become mandatory to provide clean and sufficient water at affordable rates for better livelihood. On the grounds of the same, for sustainable water distribution, the Indian government is encouraging the masses to install smart water meters at new construction sites and replace old metering systems at old residential and commercial buildings.
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