SAN FRANCISCO, August 6, 2021 / PRNewswire / – A new market study released by Global Industry Analysts Inc. (GIA), the leading market research firm, released its report today, titled “Smart Water Meters – Global Market History and Analytics”. The report offers new perspectives on opportunities and challenges in a strongly changed market after COVID-19.
FACTS AT A GLANCE
E.Output: 19; Approved: May 2021
Executive pool: 5944
Companies: 82 – Players Covered include Aclara Technologies LLC; Arad group; Mastermeter, Inc .; Contadores de Agua de Zaragoza, SA (Contazara); Arad Metrology Wuhan Co. Ltd .; Arqiva Limited; Aquiba Pty Ltd .; B-METER srl; Badger Meter, Inc .; Bermad water technologies; Diehl Metering GmbH; Honeywell International; Iskraemeco, dd; Itron, Inc .; Kamstrup A / S; Mueller Water Products, Inc .; Neptune Technology Group Inc .; Sanchuan Wisdom Technology Co., Ltd .; Suntront Technology Co., Ltd .; Tantalus Systems Corp .; Wasion Group Co., Ltd .; Xylem Inc. and others.
Cover: All major regions and key segments
Segments: Technology (Auto Meter Reading (AMR), Advanced Metering Infrastructure (AMI)); Application (residential area, industry, trade)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UNITED KINGDOM; the rest of Europe; Asia Pacific; Rest of the world.
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Reaching Global Smart Water Meter Market $ 4.6 billion by 2026
Smart water meters are electronic devices primarily used by public water utility companies to read and measure water usage from remote locations. Key drivers creating the urgent need for efficient solutions like smart water meters include water scarcity, aging infrastructure, rapid urbanization, leaks, water not ingested, legislation, water conservation and measures to improve operational savings. The myriad of benefits of intelligent water technologies that are driving their global adoption include efficient water leak and pressure management; reliable network operation and management; strategic channeling of capital expenditures; and better monitoring of water quality. Smart water meters are also seeing increasing demand, influenced by the introduction of stringent government regulations. The market is expected to be driven by the modernization of aging infrastructure, a focus on water conservation and government action to promote sustainable development.
In the midst of the COVID-19 crisis, the global market for intelligent water meters is estimated at $ 2.9 billion in 2020 is expected to reach a revised size of $ 4.6 billion until 2026 with a CAGR of 7.7% in the analysis period. Auto Meter Reading (AMR), one of the segments analyzed in the report, is expected to have 4.9% CAGR and range $ 2.3 billion until the end of the analysis period. After a thorough analysis of the business impact of the pandemic and its triggered economic crisis, growth in the Advanced Metering Infrastructure (AMI) segment will be adjusted to a revised CAGR of 10.6% for the next 7-year period. The AMR system enables the automatic acquisition of meter readings without performing a physical inspection. AMI enables two-way communication between measuring devices and users or utilities and covers several functions such as meter readings, error or leak detection, service connection / disconnection and theft or tampering detection. The segment benefits from technological advances, cost-related advantages, and changing utility company requirements.
The US market is estimated at $ 467.8 million in 2021, while China is expected to reach $ 1.8 billion until 2021
The US smart water meter market is valued at $ 467.8 million in 2021. China, the second largest economy in the world, is expected to reach a market size of $ 1.8 billion by 2026 with a CAGR of 8.9% in the analysis period. Other notable geographic markets include Japan and Canadawho forecast growth of 4.8% and 6.2% respectively in the analysis period. Inside Europe, Germany is forecast to grow about 6.2% CAGR. In North AmericaGovernment efforts to reduce water losses, ensure accurate water bills, and develop smart cities are driving market growth. Make rapid industrialization and urbanization, as well as the presence of leading companies North America a strong market for smart water meters. The Smart Water Meter Market In Europe is driven by a high focus on sustainability and massive adoption of these devices in the region. The increasing awareness of the sustainable and efficient use of energy and water is encouraging people to introduce smart meters. Water waste reduction regulations and environmental efforts encourage adoption in countries including Japan and China. Asia Pacific is also expected to benefit from increasing investments in water utility infrastructure to support a huge customer base and increasing implementation of IoT. More
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SOURCE Global Industry Analysts, Inc.