DUBLIN, Aug. 21, 2019 /PRNewswire/ -- The "Smart Water Metering Market by Meter Type (Elctromagnetic, Ultrasonic, Mechanical), Technology (AMI, AMR), Component (Meters & Accessories, IT Solutions, Communications), Application (Water Utilities, Industries), and Region -Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The smart water metering market is estimated to be USD 5.9 billion in 2019 and is projected to reach USD 9.6 billion by 2024, at a CAGR of 10.3% during the forecast period.
The smart water metering market is dominated by a few major players that have a wide regional presence. The leading players in the smart water metering market are Arad Group (Israel), Badger Meter (US), Diehl (Germany), Kamstrup (Denmark), and Itron (US).
The smart water metering market is projected to grow at a CAGR of 10.3% from 2019 to 2024
Utilities focusing on reducing non-revenue water rates are driving the smart water metering market. Further, the rising demand for managing water consumption by water-intensive industries is likely to boost the market.
The meters & accessories segment is expected to be the largest and the fastest-growing market from 2019 to 2024
The smart water metering infrastructure is made of 3 components, which are meter & accessories, IT solutions, and communications. The hardware components in the meters & accessories segment comprise devices such as flow meters, endpoints, encoders, registers, transmitters, radio modules, and antennas. With the innovation of new technologies in IoT and automation sectors, the ultrasonic meters are preferred as they have inbuilt sensors that provide more accurate data.
Water utilities, by application, is expected to be the fastest-growing market from 2019 to 2024
The water utility segment dominated the global smart water metering market in 2018, holding a 70% share of the total market size. The water utilities are a core part of the water metering value chain, and the smart water meters can help with various aspects of their operations. The water grid used for the distribution of water is a key part of water utility infrastructure. Currently, the water utilities are concerned about leakage detection and prevention, which results in large volumes of water loss.
Moreover, the water losses lead to excessive bills for the customers and in some cases, significant damage and cost to repair. Furthermore, the utilities are focusing on investments related to updating aged conventional water networks and developing new smart water metering infrastructure. The water utilities around the globe are trying to expand their smart water metering customer base. This is driving the growth of water utilities as a major application segment of the global smart water metering.
Middle East & Africa: The second fastest-growing region in the smart water metering market.
The Middle East & Africa is the second fastest-growing region in the smart water metering market; it is projected to grow at a CAGR of 10.4% during the forecast period. Since the region faces water scarcity, the governments are focused on reducing water losses and water leakages caused due to poor or faulty water metering infrastructure. Moreover, the Gulf countries are accelerating their smart metering plans to optimize the water consumption, improve water security, and achieve more sustainable management of the available water resources. Such investments are boosting the demand for smart water metering market in the Middle East & Africa.
Why Buy this Report?
1. The report identifies and addresses the key markets for smart water metering operations and services, which would help equipment manufacturers and service providers review the growth in demand.
2. The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
3. The report will help key players understand the strategies of their competitors better and help them in making better strategic decisions.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Smart Water Metering Market During the Forecast Period
4.2 Market, By Region
4.3 North American Market, By Technology & Country
4.4 Market, By Meter Type
4.5 Market, By Component
4.6 Market, By Technology
4.7 Market, By Application
5 Market Overview
5.2 Market Dynamics
220.127.116.11 Utilities' Focus Toward Reducing Non-revenue Water
18.104.22.168 Need for Smart Water Metering to Optimize Water Consumption
22.214.171.124 Need for Accuracy in Billing
126.96.36.199 Lack of Government Initiatives
188.8.131.52 Lack of Awareness and Acceptance By End-Users
184.108.40.206 Replacement of Aging Infrastructure
220.127.116.11 Digitalization of the Water Industry Operations
18.104.22.168 High Initial Investments and Long Payback Period
6 Market, By Meter Type
6.2 Electromagnetic Meter
6.2.1 Capabilities of Measuring Wastewater and Better Operational Efficiency Help in Growth of Electromagnetic Meters
6.3 Ultrasonic Meter
6.3.1 Efficient Detection of Leaks, Bursts, and Reverse Flows Help in Reducing Nonrevenue Water, Which is Likely to Boost the Ultrasonic Meter Market
6.4 Mechanical Meter
6.4.1 Low Costs of Mechanical Meters Create Their Sales Opportunities in Developing Countries
7 Market, By Technology
7.2.1 AMR Technology Helps in Reducing Manual Intervention for Data Collection, Which is Driving the Market
7.3.1 Digitalization and Demand for Data Management are Driving the Higher Growth Rate of the AMI Segment
8 Market, By Component
8.2 Meters & Accessories
8.2.1 Innovations in Technology and New Sensor Built Hardware Components are Driving the Meters & Accessories Market
8.3 IT Solutions
8.3.1 Rising Demand for Data Management Software is Likely to Drive Market
8.4.1 Upgrading of Communication Network to Gap the Bridge Between Hardware Component and Software Platforms is Driving the Communications Segment
9 Market, By Application
9.2 Water Utilities
9.2.1 Huge Investments in Smart Metering Infrastructure are Likely to Drive the Water Utilities-Based Market
9.3.1 Rising Concerns on Managing Water Consumption to Reduce Operational Costs are Driving the Market
10 Market, By Region
10.2 North America
10.2.1.1 Focus on Reducing Water Losses By Optimizing Infrastructure is Likely to Drive the US Market
10.2.2.1 Increased Deployment of Smart Water Infrastructure is Driving the Canadian Market
10.2.3.1 New Infrastructural Development and Installation of Smart Water Meters are Boosting the Growth of Smart Water Meters in Mexico
10.3.1.1 Water Utilities are Focused on Reducing NRW By Deploying Smart Water Metering Infrastructure
10.3.2.1 Government's Aim to Replace Old Water Meters With Smart Water Meters is Creating Opportunities for the Market During the Forecast Period
10.3.3.1 The UK's Water Utilities Plan to Install 100% Smart Water Meters By 2030, Which is Expected to Drive the Market
10.3.4.1 Installation of New Water Meters By Water Utilities is Driving the Market
10.3.5.1 Water Utilities are Focusing on Early Leak Detection, Which is Driving the Danish Market
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1.1 Demand for Robust Water Management Systems for Coping With Rapid Urbanization in China is Driving the Market
10.4.2.1 Water Scarcity in the Country is Leading to Rapid Installation of Smart Water Meters to Manage Water Consumption
10.4.3.1 Large Investments for Expanding the Communications Networks are Driving the Japanese Market
10.4.4.1 High Levels of NRW in Malaysia is Creating Opportunities for Smart Water Meters During the Forecast Period
10.4.5.1 Municipalities Focused on Managing Water and Wastewater By Installing Smart Water Meters for Handling Water Consumption
10.4.6 Rest of Asia Pacific
10.5 Middle East & Africa
10.5.1 Saudi Arabia
10.5.1.1 Huge Investments in Installing Smart Water Meters are Driving the Saudi Arabian Market
10.5.2.1 High Replacement Rate of Old Water Infrastructure With Intelligent Systems is Boosting the Growth of Smart Water Meters in the UAE
10.5.3.1 Increasing Adoption Rate of Automation Technologies and IoT By Water Utilities is Driving the Israeli Market
10.5.4 South Africa
10.5.4.1 Deployment of AMI Technology in Water Metering Infrastructure is Driving the South African Market
10.5.5.1 Upcoming Water Metering Infrastructural Projects Along With Supportive Government Initiatives are Driving the Egyptian Market
10.5.6 Rest of Middle East & Africa
10.6 South America
10.6.1.1 Increasing Demand for Smart Water Meters for Solving Water Scarcity is Likely to Boost the Brazilian Market
10.6.2.1 Smart Water Meters to Solve the Increasing Water Theft Challenges in Argentina
10.6.3.1 Infrastructural Development for Water Metering is Driving the Uruguayan Market
10.6.4 Rest of South America
11 Competitive Landscape
11.2 Ranking of Players
11.3 Competitive Scenario
11.3.1 New Product Launches
11.3.2 Expansions & Investments
11.3.3 Contracts & Agreements
11.3.4 Mergers & Acquisitions
11.4 Competitive Leadership Mapping, 2018
11.4.1 Visionary Leaders
12 Company Profile
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
For more information about this report visit https://www.researchandmarkets.com/r/swkx8c
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