PUNE, India, April 29, 2016 /PRNewswire/ --
The report "Smart Water Metering Market by Type (AMR and AMI), by Component (Meters & Accessories, Communication, and IT Solution), by Application (Water Utilities and Industries) and by Region - Global Trends & Forecast to 2021", published by MarketsandMarkets, The market is expected to grow from an estimated USD 3.88 Billion in 2016 to USD 5.51 Billion by 2021, at a CAGR of 7.23% from 2016 to 2021.
Browse 70 market data Tables and 40 Figures spread through 200 Pages and in-depth TOC on "Smart Water Metering Market"
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Factors such as increasing focus towards reducing non-revenue water, retrofitting of aging water infrastructure, and the need for accurate billing are driving the market globally.
Meters & accessories to be the dominant component-based segment in the global Smart Water Metering Market
The Smart Water Metering Market in this report has been classified based on components into three segments, namely, meters & accessories, communication, and IT solution. The meters & accessories segment accounted for the largest market size, in terms of value, in 2015. It was followed by the IT solution and communication segments, respectively.
"The AMR segment would dominate the global Smart Water Metering Market"
The Automatic Meter Reading (AMR) segment is estimated to be the largest market for smart water metering in 2016. It is a metering technology that collects consumption data from the water meters and transfers it to a central database (in the utility station) for billing and other purposes (one-way communication only). Popular in North America and Europe, other regions have also started to implement this metering infrastructure to reduce non-revenue water. It is less costly when compared to AMI, and hence has a higher market size. However, the AMI market is projected to grow at the highest rate because of its superiority.
North America is the dominant market for smart water metering
North America dominates the Smart Water Metering Market, and Europe is expected to grow at the fastest pace during the forecast period. In North America, the growth of the Smart Water Metering Market can be attributed to focus on water monitoring & prevention of water leakage and the repair & upgrade of aging water infrastructure. Meanwhile, several smart water meter rollouts are taking place in countries such as the U.K., Germany, and France, which would drive growth in the European region.
To provide an in-depth understanding of the competitive landscape, the report includes profiles of the following companies, namely, Itron Inc. (U.S.), Elster Group GmbH (Germany), Sensus (U.S.), Landis+Gyr (Switzerland), Kamstrup A/S (Denmark), Aclara Technologies LLC (U.S.), Badger Meter, Inc. (U.S.), Datamatic, Inc. (U.S.), Diehl Metering GmbH (Germany), Neptune Technology Group Inc. (U.S.), B METERS s.r.l. (Italy), Arad Ltd. (Israel), and Arqiva Ltd. (U.K.). Dominant players are trying to penetrate developing economies and are adopting various methods to grab the market share.
Market share analysis based on developments for key companies has been included in the report. The scope aids market participants to identify high-growth markets and help managing key investment decisions. For this report, major players in the Smart Water Metering Market have been identified using various primary and secondary sources, which include annual reports of top market players, interviews with key opinion leaders such as CEOs, directors, and marketing personnel. The market shares have been evaluated and validated based on this research.
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