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Smart Water Meters Market

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Smart water meter is an internet-enabled device, typically coupled with GPS chips and GIS (Geographic Information System) that measures and manages water consumption and distribution
Smart Water Meters Market Projected to Garner Significant Revenues by 2024
Smart water meter is an internet-enabled device, typically coupled with GPS chips and
GIS (Geographic Information System) that measures and manages water consumption
and distribution. A smart water meter uses power line communications (PLC), wireless
radio frequency, and SCADA (Supervisory Control and Data Acquisition) in order to
constantly communicate with the central server. The smart water meters market came into
prominence in the 2000s, as a part of the Smart Grid project, which was initiated to
improve services and efficiency of the water supply system. Following the smart grid
project, the smart water meters market gained popularity, as water utilities across the
world started its large-scale implementation.
Factors that are expected to drive the global smart water meters market include increasing
demand from water utilities to provide proactive services by establishing water
consumption patterns using predictive analysis, reducing operational costs, and
streamlining the water supply management.
Furthermore, urgent need for identification of water leakages, upgrade of aging, traditional
water infrastructure, and accurate billing amidst increasing environmental stress and water
scarcity is anticipated to drive the global smart water meters market. Besides this, growing
adoption of smart IT solutions by water utilities across the world is expected to fuel the
market.
However, factors including high initial investments and high installation and licensing fees
coupled with software support services are expected to act as restraints for the global
smart water meters market.
The global smart water meters market can be segmented on the basis of technologies,
components, end-users, and regions. On the basis of technologies, the market can be
segmented into AMR (automatic meter reading) and AMI (advanced metering
infrastructure).
On the basis of components, the global smart water meters market can be segmented into
manufacturers, installers, and data & network management firms. Of these, the data &
network management firms segment is expected to hold a major share in the global smart
water meters market during the forecast period. This is owing to its sustainable value and
long-term viability. Manufacturers and installers are expected to follow the data and
network management firms, as timely replacement and upgrade of meters is likely to gain
importance.
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On the basis of end-users, the global smart water meters market can be segmented into
water utilities and commercial users.
Geographically, the market can be divided into North America, Europe, Asia Pacific,
Middle East & Africa, and South America. North America is anticipated to dominate the
global smart water meters market. This is owing to widespread yet traditional infrastructure
of water meters in the region. Europe is projected to follow North America. Replacement of
first-generation devices is anticipated to further boost the market in Europe. Also,
improving investment environment bolstered by strong government support is estimated to
drive the market in the region. The market in Asia Pacific is also anticipated to witness
substantial growth.
Key players operating in the global smart water meters market include Minsen Meter Co.,
Ltd., Itron Inc., Elster Group GmbH, Landis+Gyr, Kamstrup A/S, Silver Spring Networks,
Aclara Technologies LLC, Badger Meter, Inc., Datamatic, Inc., Diehl Metering GmbH,
Neptune Technology Group Inc., B METERS s.r.l., Arad Ltd., and Arqiva Ltd.
Author
ashutosh
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