Latest Report Smart Water Meters Market by Meter Type (Electromagnetic, Ultrasonic, Mechanical), Technology (AMI, AMR), Component (Meters and Accessories, ICT Solutions, Telecom), Application (Water Utilities, Industries), Region – Global Outlook year to year 2024″, is expected to reach $9.6 billion by 2024 from an estimated $5.9 billion in 2019, at a compound annual growth rate of 10.3% over the forecast period. The growing concern towards water supply management is a driving factor for the market. Moreover, the adoption of IoT in the water industry brings opportunities for the market.
Major market players:
The major players in the global smart water meter market are Kamsturp (Denmark), Badger Meter (US), Diehl (Germany), Landis + Gyr (Germany), Itron (US), Neptune Technology Group (US), Aclara Technologies ( US), Sensus (US), BMETER (Italy), Datamatic (US), Honeywell (US), and ZENNER (Germany).
Download PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=250996975
Ultrasound meter segment is expected to be the fastest growing smart water meter market, by meter type, during the forecast period
The ultrasonic meter segment of the smart water metering market, by meter type, is expected to grow at the fastest rate during the forecast period. This is mainly because ultrasonic meters offer higher accuracy data output as compared to mechanical and electromagnetic meters. These meters are equipped with sensors that can measure the speed of the water and then convert it to the water flow rate. Moreover, ultrasonic meters have a longer life span, and are able to transmit data in real time using the communication network connection; The data is analyzed by meter data management systems or central monitoring software platforms.
The water meter segment is expected to dominate the smart water meter market, through technology, during the forecast period
AMR is the main driver of efficiency in water utilities. Helps reduce operational costs by improving maintenance and reducing human intervention in the measurement process. AMR is a system and process used to collect water meter data remotely without the physical presence of people at the reading point. North America and Europe are the two regions that mostly apply this technology. Other regions have also started implementing this metering infrastructure to reduce non-return water.
North America: The largest market for smart water meters
In this report, the Smart Water Meters market is analyzed with respect to 5 regions, namely, North America, South America, Europe, Asia Pacific, and the Middle East and Africa. The dominance of the region is mainly due to the rate of installation of smart water meters by North American water utilities. The region is also the highest consumer of water in the world. Smart water meter suppliers focus on expanding their offering in the North American region to help customers reduce their water bills as smart water meters detect water leaks and stop the supply if water is lost. Ultrasound meters are gaining more preference by North American water utilities due to their higher efficiency and more accurate rates.
Request page templates – https://www.marketsandmarkets.com/requestsampleNew.asp?id=250996975
- To define, describe, segment and forecast the smart water metering market by type, meter type, component, end user, and region
- To provide detailed information on the key factors affecting market growth (drivers, restraints, opportunities, and industry-specific challenges)
- To strategically analyze the market in relation to individual growth trends, future expansions and the contribution of each market segment
- To analyze market opportunities for stakeholders and details the competitive landscape of market leaders
- To forecast market growth with respect to key regions (Asia Pacific, Europe, North America, South America, Middle East & Africa)
- To identify and rank the major players and comprehensively analyze their market shares
- To analyze competitive developments such as contracts, agreements, expansions, investments, new product launches, mergers and acquisitions, joint ventures, partnerships and collaborations in the Smart Water Metering Market