The report is a comprehensive exploration of global Smart Water Metering market offering growth rates, size of the industry, competitive landscape information, factors to the contributing growth of the global Smart Water Metering market and more.
Selbyville, DE -- (SBWIRE) -- 10/12/2018 -- Smart water metering market has been observing commendable momentum with the increasing awareness about water usage management for reducing unwanted wastage of water, on the grounds of which consumers prefer to use smart water meters that can remotely cut off the water supply. The increasing importance imparted to effective water consumption management for real-time monitoring of water supply is slated to enhance smart water metering market share over the years ahead. With the deployment of such smart water meters, consumers can get many benefits such as easy remote monitoring, accurate billing, prevention and detection of theft. Taking into account its cost-effective returns and increasing concerns about decreasing water resources, many regional governments have been mandating the deployment of smart water meters across commercial and residential sectors. For instance, many of the European countries including Italy, France, Netherland, and Norway have been promoting the use of smart meters for maintaining energy efficiency.
MarketStudyReport.com Adds New Smart Water Metering Market 2017 – 2024 research report providing information and data By Technology, By Application, By Product, By Region, Industry Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast spreading across 311 Pages with table and figures in it.
Smart Water Metering Market is set to reach over USD 3 Billion by 2024. Implementation of favorable government policies and rollout programs toward the adoption of intelligent systems will boost the smart water metering market. Initiatives focusing on effective water monitoring and conservation will further propel the industry landscape. For instance, the European Union in collaboration with the International Monetary Fund announced a mandatory rollout of smart water meters in Ireland.
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Increasing measures toward water security and monitoring of Non-Revenue Water (NRW) will enhance the smart water metering market. Increasing urbanization, ageing distribution mains and rising energy cost will further provide a stimulus to the industry outlook. According to the World Bank, 32 billion cubic meters of treated water is lost through leakages in distribution network worldwide. An additional 16 billion cubic meters is supplied annually but not charged due to poor metering, inappropriate billing and thefts.
U.S. smart water metering market is projected to expand over 6% by 2024. Ongoing water conservation reforms coupled with government funding toward installation of smart grid technologies will positively drive the product adoption. In 2013, the U.S. Department of Energy and the Smart Grid Investment Grant (SGIG) mutually sponsored the installation of smart grid infrastructure in the nation and provided a federal financial assistance of over USD 8 billion in 99 ventures.
AMI smart water metering market is predicted to grow over 28% by 2024. The use of AMI systems is attributed to quick detection of water leakages, reduction in water wastage and improved water supply. These systems offer advanced capabilities in data analysis and operations.
Rising demand for effective management, monitoring, and utilization of water will fuel the smart water metering market. Global initiatives toward water conservation and measures to address water scarcity will further propel the business landscape. In 2015, the U.S. average water consumption has witnessed significant drop owing to growing water conservation concerns across various states in the country.
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Growing measures toward effective mapping of water distribution coupled with regulatory regimes to limit non-revenue water loss will complement the Europe smart water metering market. Increasing administrative emphasis toward the development of high performance advanced systems will further embellish the industry growth.
Ongoing technological advancement to develop effective and precise metering technologies will boost the commercial smart water metering market. Rising concerns relating to reduction of water wastage and water scarcity will further facilitate the product adoption.
Notable players operating in the industry comprise of Landis+GYR, Badger Meter, Itron, Siemens, Arad Group, Schneider Electric, Sensus Sentec, Neptune, Kamstrup, Elster Group, Diehl Metering and Honeywell International.
Outer scope of this report In line with the growing importance for energy efficiency across the globe, many giants in smart water metering market have been taking the help of next-generation technologies to improve the effectiveness of the existing products. In fact, the advent of the Internet of Things (IoT) has remarkably helped them to gain competitive benefits over the last few years. For instance, the leading player in the smart metering industry, Kamstrup has been generating record-breaking returns since the last few years with the development of intelligent metering systems. Reportedly, Kamstrup has accounted for a revenue collection of USD 320 million up to 2017. The shifting focus of myriad regional governments toward the development of smart home infrastructure will further generate lucrative opportunities for the market players.
Table of Content:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3 Smart Water Metering Industry Insights
Chapter 4 Smart Water Metering Market, By Application
Chapter 5 Smart Water Metering Market, By Technology
Chapter 6 Smart Water Metering Market, By Product
Chapter 7 Smart water metering Market, By Region
Chapter 8. Company Profiles
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