Smart Water Metering Market -Global Industry Analysis Report, Share, Size, Growth, Price Trends and Forecast, 2016 – 2024
Smart water metering is internet capable measuring device used for water, energy and natural gas utilization for commercial and residential areas. These systems comprise of an electric meter, control unit, and water meter in one particular package. Traditional meters measure only water consumption whereas smart water meters record total resource consumption for daily use, including waste water used in industries and many others applications. Mart meters gather and use information with the help of information and communications technology (ICT) and by real time data generation. The reason behind installation of smart meters is to manage efficiency and increase operations in commercial areas, industrial zone, and residential area to reduce overall expenditures and carbon foot print.
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The support system of this advanced metering infrastructure (AMI) technology provides constant two ways data bond between utilities, consumers meters and technologies used to deliver the communication. Power line communication (PLC), broadband, telephony, optical fiber cable, cellular transmissions, and wireless radio frequency are generally used to operate the water meters. Introduced communication patterns will design and construct consumption pattern, and accurate billings at various area levels, to update other functional software’s such as geographic information systems (GIS), supervisory control and data acquisition (SCADA), followed by the departments includes customer services, reservoir, and pumping stations. Smart water meters also monitors current water consumption, by contributing data towards hydraulic modeling to predict changes and outcome in water distribution.
Smart water metering market introduces new approach for groundwater management with different parameters such as billing, control, data processing/collection, and measurement. As estimated one third of the total costs is associated with treatment of water, therefor minimum water wastage will result into decrease in overall cost and energy. Engagement of smart water metering will help to identify performance problem, managing operating cost and challenges, which will help to improve and prioritize customer services infrastructure spending.
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These meters also help to detect water loss both in customer end point and distribution networks, which helps to maximize the savings. The ability to prevent and detect leakages which is main sources of water loss can be prevented by strategic data generated by AMI, which may positively impact on smart water metering market size growth during the forecast period. Growing construction spending in both residential and commercial area will increase demand and drive the smart water metering market during the forecast period.
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