Global Smart Water Metering Market to Reach USD 14.85 Billion by 2028; According to Vantage Market Research

·8 min read

WASHINGTON, Jan. 20, 2022 (GLOBE NEWSWIRE) -- Water is essential source of resource for daily purposes such as commercial, industrial and for personal use. Water is considered as ample resource and hence is sometime misused and not taken care of. Smart water meters enable to identify and eliminate mis-billing, help in proper distribution and last but not least saving. These are some of the factors that might flourish the smart water meter market, states Vantage Market Research, in a report, titled “Smart Water Metering Market by Technology (AMI, AMR), by Component (IT Solutions, Communications, Meters & Accessories), by Meter Type (Ultrasonic Meter, Electromagnetic Meter, Mechanical Meter), by Application (Water Utilities, Industries), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.

The market size stood at USD 7.24 Billion in 2021. The global smart water metering market size is expected to reach USD 14.85 Billion by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 10.3% during the forecast period.

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  • Provide chapter-wise guidance on request 2021 Updated Regional Analysis with Graphical Representation of Trends, Size, & Share, Includes Updated List of figures and tables.

  • Updated Report Includes Major Market Players with their Sales Volume, Business Strategy and Revenue Analysis by using Vantage Market Research methodology.

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The report on smart water metering market highlights:

  • Assessment of the market

  • Premium Insights

  • Competitive Landscape

  • COVID Impact Analysis

  • Value Chain Analysis

  • Historic Data, Estimates and Forecast

  • Company Profiles

  • Porter’s Five Forces Analysis

  • Global and Regional Dynamics

Market Overview:

Stringent Regulation by Government Bodies on Saving Water and Regulate Equal Distribution is Expected to Drive the Smart Water Metering Market.

With rising pressure to conserve limited water resources, smart metering provides the utilities with the opportunity to streamline their water distribution processes through data-driven decisions. The smart water metering enables the utilities to automatically collect consumption data, eliminate manual meter reading, improve efficiency and save costs. It also provides an opportunity to detect leaks and abnormal consumption more efficiently than the manual methods. Government bodies across globe are emphasizing to use smart water metering devices in commercial as well as industrial spaces. This will enhance the water saving phenomena and also regulate equal water distribution. These are some of the factors that are driving the smart water metering market.

Lack of Awareness among the Population is Hindering the Smart Water Metering Market

Globally water is not considered to be as an important resource and people are not aware of benefits of water saving and use. Countries such as India, China, Sri Lanka, Pakistan, Indonesia, and various others face huge problems due to scarcity of water. General population is not much keen to use smart water metering due to lack of awareness and high cost of device. Government bodies are also not taking many initiatives for setting up these devices. These are some of the factors that are hindering the growth of smart water metering market.

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Regional Analysis:

Increasing Growth of Smart Water Metering Market in North America

Asia Pacific is anticipated to grow at a highest CAGR in the projected period. This is attributed due to presence of key players of smart water metering manufacturers. Stringent government regulation and water protection association are emphasizing to use smart water meters which are the key factors in the smart water metering market. This will be helpful to attain sustainability. Followed by North America, Middle East is expected to grow in smart water metering market due to scarcity of water available.

COVID-19 Analysis:

The COVID-19 outbreak has affected various industries worldwide. The smart water metering market also had a huge impact. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop the swift spread of COVID-19. These actions led to a severe impact on the global economy impairing various industries. Moreover, reduced construction activities further affected the demand smart water metering device manufacturing across the globe. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data- points:

  1. Impact Assessment of COVID-19 Pandemic

    1. North America

    2. Europe

    3. Asia Pacific

    4. Latin America

    5. Middle East & Africa

  2. Quarterly Market Revenue Forecast by Region 2020 & 2021

  3. Key Strategies Undertaken by Companies to Tackle COVID-19

  4. Long Term Dynamics

  5. Short Term Dynamics

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List of Prominent Players in the Smart Water Metering Market:

  • Kamsturp (Denmark)

  • Diehl (Germany)

  • Badger Meter (US)

  • Itron (US)

  • Landis + Gyr (Germany)

  • Neptune Technology Group (US)

  • Sensus (US)

  • Aclara Technologies (US)

  • BMETER (Italy)

  • Honeywell (US)

  • Datamatic (US)

  • ZENNER (Germany)

Recent Developments in the Industry:

In June 2019, Itron received a contract from Liberty Utilities Company for OpenWay Riva, an Internet of Things (IoT) solution that includes an open, standard-based network for gas, electricity, and water. The solution helped Liberty Utilities improve operations and enhance the customer experience.

In May 2019, Diehl and its local partner Faso General Technology (FGT) received a contract from the National Water and Sanitation Office (ONEA) in Burkina Faso to improve water management with advanced manual data consumption reading.

In April 2019, Badger Meter acquired Innovative Metering Solutions. This acquisition is expected to increase the footprint of Badger Meter and its utility customers in the south eastern US.

Key questions answered in the report:

  • Which regional market will show the highest and rapid growth?

  • Which are the top five players of the Smart Water Metering Market?

  • How will the Smart Water Metering Market change in the upcoming six years?

  • Which application and product will take a lion’s share of the Smart Water Metering Market?

  • What are the Smart Water Metering market drivers and restrictions?

  • What will be the CAGR and size of the Smart Water Metering Market throughout the forecast period?

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This market titled “Smart Water Metering Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

Report Attribute

Details

Market Size in 2021

USD 7.24 Billion

Projected Market Size in 2028

USD 14.85 Billion

CAGR Growth Rate

CAGR of 10.3% from 2022–2028

Base Year

2021

Historic Years

2016 - 2020

Forecast Years

2022 - 2028

Segments Covered

Technology: - AMI, AMR

Component: - IT Solutions, Communications, Meters & Accessories

Meter Type: - Ultrasonic Meter, Electromagnetic Meter, Mechanical Meter

Application: - Water Utilities, Industries

Quantitative Data - Units

Revenue in USD Million/Billion and CAGR from 2022 to 2028

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

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