September 29, 2020
As per the report titled ‘GLOBAL SMART WATER METER MARKET 2019-2027’, available with Market Study Report LLC, global smart water meter industry is projected to register a healthy growth rate of 7.59% during 2019-2027.
Global smart water market is largely driven by growing demand for sustainable water supply across various industry verticals. Moreover, increasing focus towards accountability of non-revenue water is positively impacting the market outlook. Advancements in sustainable water supply management and increasing smart city projects across the globe are likely to propel the industry growth. On the contrary, low budgets for installation and operational issues of smart water meter will negatively impact the business landscape over the forecast timeframe.
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Based on technology, global smart water meter market size is split into automatic meter reading and advanced metering infrastructure, among which, the latter segment is set to experience strong growth in the forthcoming years. Speaking of the end-user spectrum, the industry is divided into residential, commercial, and industrial.
From a regional frame of reference, global smart water meter industry spans across North America, Latin America, Europe, Asia-Pacific and Middle East & Africa. North American market will display strong growth trends over the analysis period owing to water scarcity in several countries demanding the deployment of better water management system across the region. Moreover, strict norms pertaining conversation and overconsumption of water, coupled with fast paced development of smart cities are augmenting the regional market expansion.
Renowned players in global smart water meter industry are Datamatic, Inc., Neptune Technology Group Inc., ICSA, Mueller Water Products Inc., Diehl Stiftung & Co. KG, Arad Group, ZENNER International GmbH & Co., KG, Aclara Technologies LLC (acquired by Hubbell Inc.), Kamstrup A/S, Master Meter Inc. (Acquired by Arad Group), Itron, Inc., Landis+Gyr (Acquired by Toshiba Corp.), Elster Group GmbH (Acquired By Honeywell International), Badger Meter, Inc., and Sensus (Acquired by Xylem).