Emphasis on minimizing non-revenue water (NRW) is driving growth in the Global Smart Water Metering Market
The global smart water metering market is expected to witness a CAGR of 13.3% during the forecast period 2019–2025
The market is expected to witness a CAGR of 13.3% during the forecast period 2019–2025
Bangalore, India, June 07, 2019: With its recently published study “Global Smart Water Metering Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025”, Infoholic Research forecasts that the global market for smart water metering will grow significantly in the coming years owing to factors which include:
- Rising importance to reduce non-revenue water
- Transformation of aging water infrastructure to develop sustainable water infrastructure integrated with smart communicating devices
- Rising focus to minimise the operating cost
- Boosted investments in smart city initiatives
Smart water metering solutions are predominantly used by water utilities to reduce operating cost and minimize non-revenue water (NRW). Water loss is one critical challenge that utilities face globally, with aging infrastructure bringing in additional hurdles. In the coming ten years, utilities are anticipated to face a large portion of workforce retirement which is why they are focusing to upgrade the existing infrastructure by integrating ICT solutions into their operations. This will help modernize the billing process and also enhance monitoring capabilities. Consequently, generation of new business opportunities for smart meter manufacturers, system integrators, data & network service providers, and other stakeholders in the smart water metering ecosystem is also possible.
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Smart water metering is not a new phenomenon in the current market scenario, as the industry has already witnessed large scale deployments and experienced potential benefits of smart metering in electricity. Moreover, smart water metering solutions have significant penetration in developed countries and the long-term potential benefits along with return on investment (ROI) have been successfully evaluated. This eliminates the concerns of governments, municipalities, and utilities in developing countries, in terms of long-term effects and ROI of smart water metering solutions.
The global smart water metering market is segmented based on type, components, and region. In terms of type, the market is segmented into automated meter reading (AMR) and advanced metering infrastructure (AMI). In terms of revenue, AMI is anticipated to be the fastest growing segment, attributed to its advanced water management capabilities and increasing interest in smart grid solutions.
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In 2018, the Americas region had the largest share in the global smart water metering market and is likely to maintain a significant share during the forecast period as well. This is mainly due to favourable government regulations and increasing support from allied agencies for the adoption of smart water distribution systems in the US and Canada.
“Digitalizing water distribution network is the only economically viable solution for utilities to reduce water losses from both, environmental and financial standpoint”, pointed out Delsingh Bright, Sr Research Analyst, Semiconductors & Electronics, Infoholic Research.
Key Segments of the Report Include:
Smart Water Metering Market - By Type
- Automated Meter Reading (AMR)
- Advanced Metering Infrastructure (AMI)
Smart Water Metering Market - By Component
- Endpoint Hardware
- Network Infrastructure
Smart Water Metering Market - By Region
- Asia Pacific
- Middle East & Africa (MEA)