Trusted Business Insights presents the Updated and Latest Study on Smart Water Metering Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Abstract, Snapshot, Market Analysis & Market Definition: Smart Water Metering Market
Industry / Sector Trends
Smart Water Metering Market size for 2016 was over USD 900 million and is set to reach over an annual installation of over 35 million units by 2024.
France Smart Water Metering Market Size, By Application, 2016 & 2024 (Million Units)
Strengthening global initiatives and growing measures to reduce Non-Revenue Water (NRW) for efficient resource utilization will propel smart water metering market. Emerging sustainable solutions for effective management coupled with increasing efforts toward water conservation will augment the business growth. For instance, according to the American Water Works Association (AWWA) estimates, there are nearly 237,600 water line breaks per year in the U.S., accounting for over USD 2.8 billion annual revenue loss.
Stringent government regulations to effectively monitor water distribution network along with precise assessment of the resource allocation will boost the market. Development of infrastructure to provide proactive services and streamlining the water supply management will further stimulate the industry outlook. In 2016, the U.S. government announced to allocate USD 37.5 billion to provide financial assistance to energy and water programs.
Ongoing technological advancement for the development of precise and effective metering technologies will drive the market. Rising concerns pertaining to water scarcity and reduction of water wastage will further fuel the industry landscape. According to the Environmental Protection Agency (EPA), over 36 U.S. states are undergoing water scarcity crisis since 2013.
Market Segmentation, Outlook & Regional Insights: Smart Water Metering Market
Smart Water Metering Market, By Technology
Advanced Meter Infrastructure smart water metering market is anticipated to witness growth over 28% by 2024. AMI systems assist in streamlining the billing process by reducing labor costs and provides effective billing generation. For instance, Southern Water, a UK based distribution corporation announced that AMI venture is saving approximately 27 million litres of treated water per day in South and South-East England.
Affordable maintenance, easy availability and low installation cost are some of the key underlined parameters which will encourage the product adoption over other available alternatives. AMR collects consumption, and diagnoses data automatically from metering devices and transmits that data to a central database for billing, analyzing, and troubleshooting.
Smart Water Metering Market, By Application
Residential market size is predicted to reach over USD 1 billion by 2024. Rising demand for accurate billing coupled with effective mapping of unregulated spending on water resources will positively impact the market. Ability of intelligent metering systems to reduce non-revenue water and secure remote monitoring will escalate its demand across residential establishments.
Introduction of government incentives and measures toward reduction of Non-Revenue Water will propel the utilities smart water metering market. Shifting focus toward construction of smart infrastructure coupled with fundamental restructuring of water supply system will further facilitate the product adoption.
Smart Water Metering Market, By Product
Cold smart water metering market will witness growth of over 17% by 2024. These meters can be used up to temperature ranges of 300 C and find application across residential and commercial establishments. Ongoing increase in consumption coupled with rapid expansion of cooling pipelines will further embellish the product outlook.
Hot meters will witness significant penetration owing to their precise technical sophistication and ability to effectively regulate individual water consumption archetype. These systems are designed for temperatures up to 1300 C.
Smart Water Metering Market, By Region
UK smart water metering market is projected to witness strong growth on account of active regulatory regimes pertaining to environmental sustainability and consumption pattern. For instance, in the UK, a smart metering program has been carried out by Thames Water, a utility that plans to install smart meters for its customers across Thames Valley and London by the year 2030.
Increasing water scarcity and growing consumer interest toward billing transparency will boost the U.S. smart water metering industry. Shifting trend toward digital economy coupled with economic merits of installation of accurate system will further embellish the product landscape. Government funding toward reduction of Non-Revenue Water and improving investment environment will enhance the industry landscape. In 2013, the American Recovery and Reinvestment Act (ARRA) effectively advanced the AMI installations in the U.S. and facilitated the development of water resource management across the country.
Rapid urbanization coupled with rising concerns to effectively monitor water usage will fuel the Japan smart water metering market. Increasing efforts by manufacturers to develop technologies for efficient smart water metering will further enhance the industry growth. For instance, in October 2017, Huawei Japan along with Aichi Tokei Denki initiated technology verification of Narrow Band IoT (NB-IoT) for smart water metering with an aim to provide sustained & improved water supply.
Key Players, Recent Developments & Sector Viewpoints: Smart Water Metering Market
Notable smart water metering market participants include Diehl Metering, Apator, Siemens, Aclara, Badger Meter, Landis+Gyr, Honeywell International, Sensus, Arad Group, Neptune Technologies and Kamstrup among others.
Price affordability, product differentiation, effective distribution network and regulatory conformance are some of the key strategic assets for manufacturers for securing a competitive position in the industry.
Smart Water Metering Industry Viewpoint
Smart water meter is an integrated system that enables customers to effectively monitor and diagnose consumption patterns, identify maintenance issues and provide information to effectively track associated costs. These products can provide real-time communication, assess accuracy fairly and alleviate imminent global water scarcity.
What are the Key Insights Covered: Exhaustive Smart Water Metering Market
1. Market size (sales, revenue and growth rate) of Smart Water Metering industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Smart Water Metering industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Smart Water Metering industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Smart Water Metering industry.
What is the Research Methodology used: Smart Water Metering Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
Quick Read Table of Contents of this Report @ WorldWide Smart Water Metering Market, Industry / Sector Analysis Report, Regional Outlook & Competitive Market Share & Forecast, 2019 – 2025
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