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Smart Water Metering Market 2023 - Industry Shares, Growth Analysis, Key Insights, Size And Forecast To 2032
Smart Water Metering Market Analysis
The Business Research Company's Smart Water Metering Global Market Report 2023 identifies utilities focus on reducing non-revenue water as the major driver for the smart water metering market's growth in the forecast period. Non-revenue water (NRW) is essentially produced, cleansed water that is misplaced throughout the water delivery system and never makes it to its intended location. The management of non-revenue water (NRW) enables utilities to increase and improve service, improve financial performance, make cities more appealing, boost climate resilience, and use less energy.
The global smart water metering market size is expected to grow from $3.44 billion in 2022 to $3.91 billion in 2023 at a compound annual growth rate (CAGR) of 13.85%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The smart water metering market size is expected to grow to $6.24 billion in 2027 at a CAGR of 12.04%.
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Major competitors in the smart water metering market are Kamsturp, Badger Meter Inc., Diehl Stiftung & Co. KG, Landis+Gyr, Itron Inc., Neptune Technology Group Inc., Aclara Technologies LLC, Sensus, Siemens.
A key trend in the smart water metering market includes product innovation. Major companies operating in the market are developing innovative smart water metering technologies such as wireless connectivity, data collection, and cellular connectivity that can lower the cost of wiring and provide an integrated infrastructure for water utilities to sustain their position in the market. For instance, in September 2020, Landis+Gyr, a Switzerland-based provider of integrated energy management solutions for the utility sector, partnered with Vodafone Business, a UK-based provider of telecommunications services, to employ low power wide area (LPWA) network technologies, such as NB-IoT and LTE-M, which enable high signal penetration and low power consumption, to connect Landis+Gyr's smart meters. These innovations will make it possible for Vodafone Business' NB-IoT networks in 18 countries and its broad ecosystem of roaming partners to effortlessly interact with Landis+Gyr's smart meters. Landis+Gyr will be able to assist in the digitalization of the grid both today and in the future because NB-IoT is a member of the 5G family and the company offers its clients long-term service contracts that are compatible with the lifecycle of smart connected devices.
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The smart water metering market is segmented -
1) By Meter Type: Ultrasonic Meter, Electromagnetic Meter, Mechanical Meter
2) By Component: Information Technology (IT) Solutions, Communications, Meters And Accessories
3) By Technology: Automatic Meter Reading, Advanced Meter Infrastructure
4) By Application: Residential, Water Utilities, Industrial, Agricultural
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the smart water metering market.
The Business Research Company's "Global Smart Water Metering Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Smart Water Metering Market Include:
1. Executive Summary
2. Smart Water Metering Market Characteristics
3. Smart Water Metering Market Trends And Strategies
4. Smart Water Metering Market - Macro Economic Scenario
5. Smart Water Metering Market Size And Growth
…
26. Africa Smart Water Metering Market
27. Smart Water Metering Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Smart Water Metering Market
29. Smart Water Metering Market Future Outlook and Potential Analysis
30. Appendix
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