Albany, NY -- (SBWIRE) -- 09/21/2018 -- Smart water meter is an electronic device used by water utility companies to measure and read the water consumption. The main functions of a smart water meter include automatic capture and communication of meter readings with respect to real-time water consumption.

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The concept of smart water meters arose in early 2000. To deliver more predictive and proactive services, water utility companies adopted the global trend of using real-time data analytics. This technology was developed based on the Advanced Metering Infrastructure (AMI) technology, which acts as the backbone of the smart water meter concept. The smart water meter technology will help operators detect leakages in pipelines, thereby reducing water loses and in turn controlling the water consumption. The smart water meter market is likely to demonstrate huge growth in the coming years. Smart water meters find applications in industrial/commercial buildings as well as in residential premises.

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The below push factors signify the driving aspects and trends in the smart water meter market. The growth of smart water networks play a vital role to push the acceptance of smart water meters. Increasing demand for automated metering infrastructure in order to reduce water leakage and control water consumption serves as the backbone for the implementation of smart water meters. Importance of water conservation is the primary driver of the smart water meter market. Increasing awareness related to water scarcity, leakages, illegal water tapping and other forms of water wastage have triggered the growth of adoption of sustainable water management systems. This has propelled the use of smart water metering thereby facilitating enhanced revenue growth of the smart water meter market. Intelligent management of scarce water is becoming a trend these days, which is likely to boost the evolution of a tool called "smart water grids". This has spurred the adoption of smart water meters.

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Further, increasing proliferation of the Internet of Things (IoT) and its integration in water management enables better water treatment, controlled demand and supply of water and easier management of water thereby reducing costs and saving this natural resource. This has impacted the use of smart water meters. Focus on reducing non-revenue water (produced water that is lost before reaching the end customer), upgrading and repair of aging water infrastructure and the need for accurate billing are some of the factors driving the smart water meter market globally. In the current scenario of carbon footprint reduction, environmental stress, economic uncertainty, water scarcity and a growing awareness of the costly relationship between energy and water use, smart water meters stand out as the perfect solution to address multiple issues.