Smart Water Metering Market Future Prospects 2024 | Arad Group, Badger Meter, Itron, Kamstrup, Diehl

According to the new market research report 'Smart Water Metering Market is projected to reach USD 9.6 billion by 2024 from an estimated USD 5.9 billion in 2019, at a CAGR of 10.3% during the forecast period.' The growing concern toward managing the supply of water is a driving factor for the market. Moreover, the adoption of the Internet of Things in the water industry is bringing opportunities for the market.

https://www.marketsandmarkets.com/Market-Reports/smart-water-metering-market-250996975.html

The ultrasonic meter segment is expected to be the fastest growing smart water metering market, by meter type, during the forecast period

The ultrasonic meter segment of the smart water metering market, by meter type, is expected to grow at the fastest rate during the forecast period. This is mainly because ultrasonic meters deliver highly accurate data outputs than mechanical and electromagnetic meters. These meters are equipped with sensors that can measure the water velocity and then convert it into the water flow rate. Moreover, ultrasonic meters have a longer life span, and they are able to transmit real-time data using communication network connectivity; the data is analyzed by meter data management systems or central monitoring software platforms.

The AMR segment is expected to dominate the smart water metering market, by technology, during the forecast period

AMR is a key driver of proficiency for water utilities. It helps in lowering operational costs by optimizing maintenance and reducing human intervention in the measurement operation. AMR is a system and process used to remotely collect water meter data without the physical presence of personnel at the reading point. North America and Europe are the regions mostly implementing this technology. Other regions have also started implementing this metering infrastructure to reduce nonrevenue water.

Download PDF Brochure - https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=250996975

North America: The largest smart water metering market

In this report, the smart water metering market has been analyzed with respect to 5 regions, namely, North America, South America, Europe, Asia Pacific, and the Middle East & Africa. The dominance of the region is mainly due to high installation rate of smart water meters by the North American water utilities. Also, the region is the highest consumer of water in the world. Smart water meter suppliers are focusing on expanding their offerings in the North American region to help customers reduce the water bills as the smart water meters detect water leakages and turn off the supply in case of water losses. Ultrasonic meters are gaining more preference by the water utilities in North America due to higher efficiency and more accurate rates.

This research report categorizes the smart water metering market on the basis of type, component, meter type, end-user, and region.
On the basis of Technology, the market has been segmented as follows:

AMI
AMR

On the basis of Component, the market has been segmented as follows:

IT Solutions
Communications
Meters & Accessories

On the basis of Meter Type, the market has been segmented as follows:

Ultrasonic Meter
Electromagnetic Meter
Mechanical Meter

On the basis of Application, the market has been segmented as follows:

Water Utilities
Industries

On the basis of Region, the market has been segmented as follows:

North America
South America
Asia Pacific
Europe
Middle East & Africa

Request Sample Pages - https://www.marketsandmarkets.com/requestsampleNew.asp?id=250996975

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the smart water metering market.

Some of the key players are Arad Group (Israel), Badger Meter (US), Itron (US), Kamstrup (Denmark), and Diehl (Germany). The leading players are adopting various strategies to increase their share in the smart water metering market. Contracts & agreements has been a widely adopted strategy by the major players in the smart water metering market.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

This release was published on openPR.