Global Smart Water Meters Market Report 2020-2027: As the World Addresses Water Crisis as an Urgent Security Issue, Smart Water Meters Will Reach $4.9 Billion

DUBLIN, Dec. 17, 2020 /PRNewswire/ -- The "Smart Water Meters - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

As the World Addresses Water Crisis as an Urgent Security Issue, Smart Water Meters Will Reach $4.9 Billion

The global market for Smart Water Meters is expected to reach US$4.9 billion by the year 2027, trailing a post COVID-19 CAGR of 7.7% over the analysis period 2020 to 2027. The world is heading towards a water crisis with 25% of the population already facing acute shortages.

Smart water management & usage is the only way to avoid the risk of global drought by the year 2040. Water losses from service pipes during distribution accounts for over 32% of the total flow in the system. Water wastages in the absence of consumption based billing are found to be as high 68%. Smart water meters help empower utilities & consumers to improve overall efficiency, reduce wastage, average billing and save cost with minimal human intervention. Smart water meters are electronic devices used mostly by public water utilities for the purpose of reading and measuring water consumption from remote locations.

The major functions of smart water meters include electronic and automatic capture, collection as well as communication of meter readings pertaining to water consumption, in the real-time. The information captured by smart meters is in the form of electronic signals which are processed for obtaining the required data using computing technology. The captured signals are logged as well as processed in computers, and detailed analysis is used by water utilities and also uploaded onto a website for the purpose of consumer viewing.

As with most sectors, COVID-19 pandemic has also impacted water utilities, putting pressure on the utilities to maintain supply of safe and cleaning drinking water to consumers. With economic disruption and rising unemployment levels being witnessed around the world due to the COVID-19 outbreak, utilities are facing tremendous financial stress resulting in budget reductions and layoffs.

Though federal stimulus packages are offering some respite to utilities looking to invest into infrastructure development projects, incomes of utilities are likely to be affected. Since charges to customers comprises a major source of revenue for utilities, the decline in water consumption in commercial and industrial facilities due to fall in economic activity will impact revenue generation for water utilities. However, the revenues from residential customers remains relatively unaffected, as customers locked-in their homes are consuming more water. Decline in revenues will also be due to reduced income taxes, sales taxes, property taxes and capital gains taxes for utilities.

Amidst the COVID-19 outbreak, water usage has increased considerably due to the growing importance of hand washing and hygiene measures for preventing spread of the virus. While non-payment of water bills in the past led to disconnection of services, scenario is different during COVID-19 with utilities deciding to not turn-off water connections of customers due to non-payment or delays in payments. Water utilities especially in developed economies are facing the challenges due to the aging infrastructure facilities, which are adding to the utility budgets.

Against the backdrop of such financial difficulties confronting the water utilities, the emphasis on precise measurement of water being delivered to customers offers considerable opportunity for utilities to generate added revenues. Water meters are used for measuring the water being delivered to customers. By ensuring proper maintenance of water meters, there is potential for utilities to increase revenues by at least 10%.

In particular, the digitalization trend and the move towards smart water meters offers significant advantages to utilities by improving operational efficiency, ensuring employee safety, improving productivity, and increasing revenues. Through accurate measurement of water consumed by users, smart water meters contribute to improvement in revenues for the utility. Digital tools such as smart meters are becoming essential for utilities in water management.

Key Topics Covered:

1. MARKET OVERVIEW

• Impact of COVID-19 and a Looming Global Recession on Smart Meters Market
• Unique Challenges Facing Water Utilities Amidst COVID-19 Outbreak Bring Forth the Importance of Technology Solutions
• Pandemic Crisis Weakens Economic Environment, Triggering Negative Tide in GDP
• An Introduction to Smart Water Meters
• Smart Water Metering: An Evolutionary Scan
• Components of Smart Water Meters
• Classification of Smart Water Meters
• Smart Water Meters: Laying the Foundation of Efficient and Reliable Utility Networks
• Global Market Prospects & Outlook
• AMI Technology to Experience High Growth
• Shift toward Managed Solutions
• Utilities to Post Fastest Growth Rate
• Developed Regions at the Forefront of Smart Water Meter Adoption
• Competition
• Recent Market Activity

2. FOCUS ON SELECT PLAYERS

• Aclara Technologies LLC
• Aquiba Pty Ltd.
• Arad Group
• Arqiva Limited
• B METERS s.r.l.
• Badger Meter, Inc.
• CyanConnode Holdings Plc
• Diehl Metering GmbH
• Elster Group SE
• Iskraemeco, d.d.
• Itron, Inc.
• Kamstrup A/S
• Mueller Water Products, Inc.
• Neptune Technology Group Inc.
• Ningbo Water Meter Co., Ltd.
• Silver Spring Networks, Inc.
• Tantalus Systems Corp.
• Xylem Inc.
• Zhejiang Holley Liyuan Metering Co., Ltd.

3. MARKET TRENDS & DRIVERS

• Technology to the Rescue of Water Utilities
• Myriad Benefits of Smart Water Meters Drive Widespread Global Adoption
• Better Water Conservation and Enhanced Savings
• Reduction in Non-Revenue Water (NRW) Losses
• Enhanced Operational Efficiency
• Improved Asset Management
• Provision of Actionable Intelligence
• Enabling Modernization of Aging Infrastructure
• Improved Customer Relationships
• With Water Utilities Focused on Increasing Investments in Digital Solutions, Smart Water Meter Adoption Poised to Grow
• Mounting Economic and Environmental Challenges Drive the Need for Smart Water Networks, Spurring Demand for Smart Water Meters
• Rising Importance of Smart Water Networks Boosts Demand for Smart Water Meters
• Smart Meters Enhance Water Management Efficiency
• Evolution of Smart Water Grid Emerges as a Fundamental Factor Driving Penetration of Smart Water Meters
• Key Components of a Smart Water Grid
• Rise of Smart Cities and Focus on Efficient Management of Water Resources Opens Up Opportunities for Smart Water Meters
• Smart Water Meters Becomes An Important Component of Smart Cities Worldwide
• IoT-based Smart Metering to Create Smarter and Connected Cities
• Integration of Intelligent Technologies and IoT Integration in Monitoring Water Usage: Opportunity for Smart Water Meters
• Increasing Investments in Smart Home Technology Solutions to Fuel Demand for Smart Water Meters
• Smart Water Meters to Make Major Contributions to Efficiency Levels in the Agricultural Sector
• Innovations in Smart Water Meters Propel Adoption
• Select Innovations in Smart Water Meter
• Demand Rises for Two-Way Communicating Meters in Water Industry
• Integrated Digital Water Meters Find Increased Acceptance
• Cloud Computing Transforms Smart Water Metering Market
• Blockchain Technology for Smart Water Meters
• AI Makes a Mark in Water Management and Smart Metering
• Big Data Analytics to Provide Actionable Insights from Smart Meters-Generated Data
• Increasing Integration of Cellular Technology in Smart Water Meters
• LPWANs to Become a Standard Approach in Smart Water Meters
• WATER 4.0: Digitization of Water Industry through Smart Water Meters
• Stringent Regulations of Water Bodies and Governments Strengthen Market Prospects
• Population Growth and Demographics Drive Need for Smart Utility Infrastructure, Supporting Demand for Smart Water Meters
• Key Challenges Hampering Widespread Adoption of Smart Water Management Solutions

4. GLOBAL MARKET PERSPECTIVE

For more information about this report visit https://www.researchandmarkets.com/r/p5vn01

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets

Related Links

http://www.researchandmarkets.com