Global Smart Water Metering Market: Overview
The smart water meter is a technology device that uses the internet in order to measure consumption data for billing purposes. This device can be used for billing water, energy, and natural gas consumption in the residential, commercial, and industrial areas. The smart water meter system is comprised of a water meter, electric meter, and control unit. The smart water metering technology is used to reduce non-revenue water wastage, obtain accuracy in billing, and reduce carbon footprint. The smart water metering systems have various applications in the various areas such as residential, commercial, and industrial due to the demand for accurate bills, data processing, measurement, and control.
Global Smart Water Metering Market: Growth Factors
The growth factors driving the global smart water metering market are the increasing demand for reconstruction of old water infrastructures, need for accurate billing, and water wastage reduction. The rising demand for the reduction in the overall costing, reduction in greenhouse gas footprint, and demand for an efficient and accurate water operation in the residential, industrial, and commercial sector is also a reason fuelling the growth of the global market. The checking of operations at the user and distributor end saves money which in turn boosts the global smart water metering market. The government water utility body is adapting smarter water metering technology in various regions to overcome the water-related problems in the future which drives the global market.
Global Smart Water Metering Market: Segmentation
The global smart water metering market is segmented based on type, component, and application. The component segment is further bifurcated into IT solution, communication, and meters and accessories. The type segment is divided into advanced metering infrastructure and automatic meter reading which are further classified into the multi-jet flow, velocity flow, single-jet flow, electromagnetic, positive displacement, and fluidic oscillator. The application segment is categorized into water utilities, commercial, residential, and industrial. The meter and accessories and automatic meter reading segments dominate the global smart water metering market.
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Global Smart Water Metering Market: Regional Analysis
North America leads the global smart water metering market, followed by Europe. The reason for the growth in these reasons is water monitoring and water leakage prevention and the repairing of old water infrastructure. The smart water meter technology is being implemented in regions such as France, the U.K., and Germany is expected to drive global smart water metering market.
Global Smart Water Metering Market: Competitive Players
The major players that dominate the global smart water metering market include Itron Inc., Sensus, Badger Meter, Inc., Aclara Technologies LLC, Landis+Gyr, Kamstrup A/S, Datamatic, Inc., Arqiva Ltd., Neptune Technology Group Inc., Elster Group GmbH, Arad Ltd., Diehl Metering GmbH, and B METERS s.r.l. The other players in the global market around the globe include Aquiba, Jianggxi Sanchuan Water Meter, Cyan Holdings, Badger Meter, and Elster Water Metering.