The rising water usage in industries such as automotive, food & beverage, manufacturing, construction, and chemical is positively impacting the demand for smart water meter. Moreover, the growing requirement for battling water scarcity issues in several countries and monitor water quality has strongly contributed to the growth of Global smart water meter market.
Rising water scarcity coupled with high conservation awareness and efficiency of water utilities are promoting the adoption of smart water metering. In the past few years, most of the water utilities have replaced old mechanical meters with smart water meters adopting AMI with advanced communication modules.
According to MarkNtel Advisors’ research report “Global Smart Water Meter Market Analysis, 2020”, the smart water meter market is projected to grow at a CAGR of around 12% during 2020-25. The challenges faced by conventional meters such as water loss, inconsistent water billing, and frequent need for maintenance is gradually encouraging the water utilities in the countries to adopt smart water meters. The conventional water meter is gradually being replaced by smart water meter due to its real-time monitoring of water consumption patterns, accuracy & savings in billings and of non-revenue water monitoring and control.
The surging initiatives by the governments to increase the utilization of smart meters is anticipated to boost the demand for smart water meters. The European Union Energy Efficiency directive has made it mandatory for 80% of the customers in the member states to be equipped with smart meters by 2020. There are several countries such as Germany, Denmark, Estonia, Ireland, etc. that are set to attain the target by 2020.
As per MarkNtel Advisors’ study, the advanced monitoring infrastructure technology grabbed a considerable market share in the Global smart water meter market in 2019 as the technology provides two-way communication between the meter and utility in comparison to automated meter reading. Moreover, the North America region captured the highest market share in the Global smart water market in 2019. The maximum market share is attributed to the increasing replacement initiatives in the United States and Canada. Moreover, the growing focus on reducing the non-revenue water is anticipated to positively impact the demand for smart water meters.
The major players who has grabbed a considerable market share in the Global smart water meter market include Sensus, Neptune, Itron, Badger, Diehl, Honeywell Elster, Arad Group, etc.
Global Smart Water Meter Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the market potential, regional opportunities, key factors impacting sales and purchase decision, hotspots and opportunities available for smart water meter firms across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the competition assessment, formulation of Go to Market Strategies and identifying the blue ocean for their offerings.
1. By Type (One Way, Two Way)
2. By Technology (Automated Meter Reading, Advanced Metering Infrastructure, Standard (non-AMR/AMI) Meters)
3. By End Users (Municipal, Commercial, Residential, Industrial)
4. By Geographic Region (North America, South America, Europe, Middle East, Africa, Asia Pacific)
5. By Competitors (Sensus, Neptune, Itron, Badger, Diehl, Honeywell Elster, Arad Group, Others)
Key questions answered in the study:
1. What are the current and future trends of the Global smart water meter market?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. What are the future plans and customer expectations of end-users across the globe?
4. How the competition has been shaping across the countries followed by their comparative factorial indexing?
5. What are the key growth drivers and challenges for the Global smart water meter market?
6. What are the customer orientation, purchase behavior, and expectations from the smart water meter companies across various regions?