Global Smart Water Metering Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Smart water metering Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global smart water metering market report has been segmented on the basis of type, component, application, and region.
Global Smart Water Metering Market: Overview
Smart water meter is a device that measures volume of the water used and records the data according to date and amount of consumption. It is an electronic device that also used for storing data and transmitting it on a frequent basis. A smart water meter can be read more frequently and remotely, unlike the conventional water meter which can only be read once or twice in the month.
Global Smart Water Metering Market: Dynamics
Non-revenue water can be defined as the water which gets lost before reaching to the consumer. Increasing use of smart water metering to reduce non-revenue water is a key factor driving growth of the global smart water metering market. Increasing installation of smart and intelligent metering systems for efficient management of water is another factor fueling growth of the global market. Furthermore, the use of smart water metering to reduce water theft and provide accurate billing are factors expected to support growth of the global smart water metering market in the near future.
However, lack of knowledge regarding technology among end users is a factor that may hamper growth of the global smart water metering market. In addition, the high cost of smart water meter compared to conventional meter and infrequent meter readings are also some of the factors that could affect growth of the target market. Nevertheless, the introduction of efficient and precise metering technologies can create high revenue opportunities for players in the target market.
Global Smart Water Metering Market: Segment Analysis
Among the type segment, the automatic meter reading segment is expected to account for a significant share in terms of revenue in the near future. High use of automatic meter reading in Europe and North America for reducing non-revenue water is a factor is fueling growth of this segment in the target market. The advanced metering infrastructure is expected to register high growth in terms of revenue over the forecast period. Currently, among the component segment, the meters & accessories segment dominates the global market in terms of revenue and expected to maintain its position over the forecast period.
Global Smart Water Metering Market: Regional Analysis
The market in North America accounts for major share in terms of revenue and is expected to register lucrative growth over the forecast period. Increasing use of advanced technology among end user in order to prevent water leakages, inaccurate metering, and theft of water is a key factor driving growth of the target market in this region. In addition, growing upgradation of old water infrastructure is another factor anticipated to support growth of the target market in Canada and the US in this region.
The market in Europe is expected to account for second-highest share in terms of revenue in the near future, followed by Europe, Asia Pacific, Middle East & Africa, and Latin America. Presence of prominent players in countries in Europe is a factor expected of propelling growth of the smart water metering market in the next 10 years.
Global Smart Water Metering Market Segmentation:
Segmentation by Type:
- Automatic Meter Reading (AMR)
- Advanced Metering Infrastructure (AMI)
Segmentation by Component:
- Meters & Accessories
- IT Solution
Segmentation by Application:
- Water Utilities
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Estimated Year 2020 Actual Year 2021 Forecast Period 2021–2030 Revenue in US$
- B Meters Srl
- Aclara Technologies LLC
- Datamatic Inc.
- Badger Meter, Inc.
- Diehl Metering Group (Diehl Stiftung & Co. KG)
- Itron, Inc.
- Elster Group SE
- Kamstrup A/S
- Master Meter, Inc.
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