The Global Market for Smart Water Meters is Projected to Exceed US$2.0 Billion by 2024

Mounting Economic and Environment Challenges and the Resulting Need for Smart Water Infrastructure Drives the Smart Water Meters Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size, and demand forecasts on the global Smart Water Meters market. The global market for Smart Water Meters is projected to exceed US$2.0 billion by 2024, driven by mounting pressure on finite surface and ground water resources and the resulting need for smart water networks that are energy-efficient, engaged, responsive, and resilient.

Water represents a finite natural resource that is extremely precious but equally challenging to manage and which represent the primary requirement for ensuring survival of humans. About two-thirds of the global population is expected to be facing water shortages by 2020 due to various climatic and demand related factors such as global warming, surging demand from the agricultural sectors and the exponential growth in human population. Mounting economic and environmental challenges currently faced by water utilities across the world in terms of fast-depleting water reserves, mounting costs of treating and transporting water through existing networks, difficulties in securing financing at low rates for modernizing aging infrastructure, managing the retirement of inefficient plants, and dearth in skilled and affordable labor represent primary factors that are driving the need for smart water technologies and solutions. Supply of clean and usable water entails an annual spend of more than $180 billion by water utilities worldwide. Myriad benefits of smart water technologies that is driving its global adoption include efficient water leakage and pressure management; reliable network operations and management; strategic channelization of capital expenditures; and better water quality monitoring.

Strong growth is projected for the market in the coming years driven by the ongoing evolution and adoption of smart water grid that is capable of monitoring distribution of water, remotely and also continuously. The basic functioning of a smart water grid involves delivery of water from the suppliers to the end-consumers by making use of a two-way, digital communication technology which helps in controlling water consumption at the consumer level thereby saving water, enabling decreased costs and increased transparency and reliability in the overall water distribution system. Robust investments in digital solutions by water utilities worldwide represent another important growth driver as more and more utilities across the world are investing heavily into ICT solutions for efficient operational management of their infrastructure. Other important growth drivers include rising popularity of smart water networks that is driving acceptance of smart water meters; stringent government regulations and favorable mandates; growing demand for automated metering infrastructure (AMI); the slow and steady penetration of Internet of Things (IoT) technologies in water utilities that offer real-time, scalability, connectivity, support and security solutions for water monitoring and control, and upcoming connected homes and smart cities that are expected to fuel large scale adoption of smart water meters.

As stated by the new market research report on Smart Water Meters, the United States represents the largest market worldwide. Europe represents the fastest growing market with a CAGR of 10.3% over the analysis period. Steadily growing smart water grid deployments, growing adoption of intelligent two-way water meters, robust smart water infrastructure development projects, favorable government support, and replacement of aging infrastructure that is leading to water loss due to leakages and theft and ultimately to non-revenue water (NRW) represent major growth drivers in these developed markets. Absence of legacy infrastructure and the unpenetrated nature of the markets offer huge untapped market growth potential in the developing markets of Asia-Pacific.

Key players in the market include Aclara Technologies LLC, Arad Group, Arqiva Limited, Aquiba Pty Ltd., B METERS s.r.l., Badger Meter, Inc., CyanConnode Holdings Plc, Diehl Metering GmbH, Elster Group SE, Iskraemeco, d.d., Itron, Inc., Silver Spring Networks, Inc., Kamstrup A/S, Mueller Water Products, Inc., Neptune Technology Group Inc., Ningbo Water Meter Co., Ltd., Tantalus Systems Corp., Xylem Inc., Sensus USA Inc., and Zhejiang Holley Liyuan Metering Co., Ltd., among others.

The research report titled “Smart Water Meters: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The single segment report provides market estimates and projections for major geographic regions including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific, and Rest of World.

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