Smart Water Metering Market- Forecast To 2024
The global smart water metering market is projected to reach USD XX.XX billion by 2024 from an estimated USD XX.XX billion in 2019, at a CAGR of XX.XX% during the forecast period. Increasing efforts by water utilities to reduce nonrevenue water are driving the smart water metering market.
On the basis of technology, the Advanced Metering Infrastructure (AMI) segment is expected to make the largest contribution to the smart water metering market during the forecast period
AMI is the latest meter reading technology, which is being adopted by the utilities in the water industry. The AMI technology enables 2-way communication between the meter and the user/utility. Hence, it becomes more convenient for users to monitor their water consumption. Further, with the help of this technology, leak detection is easy. Due to this, the utilities have been able to reduce their nonrevenue water significantly. Other benefits of AMI include better asset management, water conservation, and improved customer service.
On the basis of application, the water utilities segment is expected to grow at the fastest rate during the forecast period
The water utilities segment is expected to grow at the fastest rate during the forecast period. This segment is further subsegmented into residential and commercial. The residential subsegment is expected to grow faster than the commercial subsegment. This is mainly due to the increasing population, urbanization, and development of smart city infrastructure. Further, the increasing need for accuracy in the billing of the residential users will boost the growth of this segment.
North America is expected to be the largest market during the forecast period
North America, Europe, South & Central America,
Asia Pacific, and the Middle East & Africa are the major regions
considered for the study of the smart water metering market. North
America is estimated to be the largest market from 2019 to 2024, driven
by the government initiatives for reduction in nonrevenue water,
accurate meter reading, and development of smart city infrastructure in
the US and Canada. Additionally, increasing urbanization and industrial
development are expected to drive the market growth.
- In June 2019, Itron received a contract from Liberty Utilities Company for OpenWay Riva, an Internet of Things (IoT) solution that includes an open, standard-based network for gas, electricity, and water. The solution helped Liberty Utilities improve operations and enhance the customer experience.
- In May 2019, Diehl and its local partner Faso General Technology (FGT) received a contract from the National Water and Sanitation Office (ONEA) in Burkina Faso to improve water management with advanced manual data consumption reading.
- In April 2019, Badger Meter acquired Innovative Metering Solutions. This acquisition is expected to increase the footprint of Badger Meter and its utility customers in the southeastern US.
2 Research Methodologies
3 Executive Summaries
4 Premium Insights
4.1 Attractive Opportunities in the Smart Water Metering Market During the Forecast Period
4.2 Smart Water Metering Market, By Meter Type
4.3 Smart Water Metering Market, By Technology
4.4 Smart Water Metering Market, By Application
4.5 Smart Water Metering Market, By Component
4.6 Smart Water Metering Market, By Region
5 Market Overview
5.2 Market Dynamics
6 Smart Water Metering Market, By Meter Type
6.2 Electromagnetic Meter
6.3 Ultrasonic Meter
6.4 Mechanical Meter
7 Smart Water Metering Market, By Technology
8 Smart Water Metering Market, By Component
8.2 Meters & Accessories
8.3 IT Solutions
9 Smart Water Metering Market, By Application
9.2 Water Utilities
10 Smart Water Metering Market, By Region
10.2 North America
10.4 Asia Pacific
10.5 Middle East & Africa
12 Company Profile
(Business Overview, Financials, Products Offered, Recent Developments)*
12.1 Badger Meter
12.5 Aclara Technologies
12.9 B Meters
12.10 Elster Group
12.11 Arad Group
12.13 Neptune Technology Group
*Details Might Not Be Captured in Case of Unlisted Companies.