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Smart Water Meter Market: Industry Insights by Type, Application, Geography, Growth and Demand Forecast to 2025
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The surging water crisis furthermore lifts the interest for a sensible plan towards water administration. Water utilities are the genuine consumers of these water meters and it is predicted to lead the market in the midst of the gauge time frame. This is a result of their necessity of channelizing the conveyance methods of considerable measure of water.
Growing demand for AMI meters driving smart water meters demand
The interest for advanced metering infrastructure (AMI) has been developing at a steady pace and is expected to encourage further growth opportunities to the smart water meter industry. Most of this demand is expected to originate from water utilities as they have larger budgets as compared to the industrial and residential consumers. The application of these meters incorporates water utilities, industrial and residential buyers. The improved data quality, two-way communication benefits and high frequency of information related to leak detection as compared to AMR metering is further bolstering the demand for AMI meters.
The smart water meter market in Middle-East and Africa (MEA) is projected to develop altogether amid the forecast time. MEA represents the smallest market among all the other regions included in the study. The growing concern for water conservation, particularly in Middle-East, is bolstering the market growth amid the forecast period. The smart water meter organizations, for example Kamstrup and Cyan, are entering the MEA market owing to the realized growth potential in the region. Iran is among the precursors in the adoption of smart meters, though Saudi Arabia is the largest smart water meter market in the region.
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The water companies in the U.K. have been experiencing losses of around 27% of the treated water due to inaccurate water network. This is driving them to replace their traditional water meters with the smart water meters. Thames Water Utilities in the U.K. has been aggressively investing in these meters. Rogers Water Utilities (RWU) in the U.S. is planning to completely replace its existing water meters with smart water meters by 2021. The Keystone Utility Systems, through a contract with Sammamish Plateau Water in the U.S., was supposed to install around 18,000 smart water meters in the country. Based on information from Smart Water Summit, around 80% of water utilities in the U.S. have included the up-gradation and repairs of their water infrastructure in their capital plans.
Owing to an average number of smart water meter manufacturers, the intensity of rivalry is medium. Since, the worldwide smart water meter market opens growth opportunities in future, it is expected that manufacturers will make new investments and launch advanced smart water meters, thus creating high intensity of rivalry. Most of these meter companies operate globally, which further increases the level of rivalry in the market.
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Some of the key players operating in this market include Badger Meter, Itron, Landis+Gyr, Elster Group, Kamstrup, Aclara Technologies, Sensus, Neptune, Diehl and Acquiba.
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