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Smart water meters are deployed to keep an eye on water consumption on a real-time basis. The introduction of new technologies in the communication module of smart water meters has strongly impacted the growth of the Europe Smart Water Meter market. The demand for IoT-enabled advanced metering infrastructure (AMI) smart meters is gradually increasing in Europe due to its added benefits such as spanning real-time visualization, leak detection, and machine-to-machine communication. Moreover, the adoption of Lower Wide Area Network communication technologies such as long-range (LoRa) and narrowband (NB) IoT in smart water meters is growing in several countries due to their efficiency and improved battery life.
According to MarkNtel Advisors’ research report titled “Europe Smart Water Meter Market Analysis, 2020”, the Smart Water Meter market is projected to register a CAGR of around 9% during 2020-25. The advanced metering infrastructure acquired a considerable market share in the Europe Smart Water Meter market in 2019. The key feature of the technology to enable bidirectional communication between the meter and the utility is expected to positively impact the demand for advanced metering infrastructure in the coming years. Moreover, the demand for advanced metering infrastructure is projected to boost in the forthcoming period on an account of the accessibility of real-time billing information and reduced metering cost and reduced billing errors.
The residential and commercial sectors captured a significant market share in the Europe Smart Water Meter market in 2019 due to a gradually growing awareness about the benefits of smart water meters.
According to MarkNtel Advisors, the key players capturing a substantial market share in the Europe Smart Water Meter market include Arad Group, Diehl Metering Group, Honeywell Elster, Kamstrup, Axioma, etc. These companies are integrating into different platforms to provide smart water meters, thereby gaining an advantage over their competitors.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
Q. What is the historical year, base year and forecast year considered in the research report on European Smart Water Meter Market?
A. The historical data has been provided since 2015, while the base year is 2019 and the data is forecast up-to 2025.
Q. What are the units or denomination for measuring market value and volume in the report?
A. The market size/industry size or the market value is measured in terms of USD Million and the volume is measured in Unit sold.
Q. What would be the growth rate or CAGR of European Smart Water Meter Market during 2020-25?
A. The growth rate of European Smart Water Meter Market during 2020-25 is forecast to be around 9%.
Q. Who are the key competitors or players operating in European Smart Water Meter Market?
A. Arad Group, Diehl Metering Group, Honeywell Elster, Kamstrup, Axioma are few of the leading players in the European Smart Water Meter Market.
Q. Which tehnology segment would emerge as an opportunity area for players in European Smart Water Meter Market?
A. The Advanced Metering Infrastructure grabbed a significant market share continue to grow at a highest CAGR, presenting immense opportunities for manufacturers and suppliers of European Smart Water Meter Market.
Q. Which End-User segment would emerge as an opportunity area for players in European Smart Water Meter Market?
A. The residential and commercial sector grabbed a significant market share continue to grow at a highest CAGR, presenting immense opportunities for manufacturers and suppliers of European Smart Water Meter Market.
