Technavio, a tech-focused market research firm, has published a new report on the global smart water meter market, which is expected to grow at a CAGR of over 20% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global smart water meter market into the following key regions: the Americas, APAC, and EMEA.
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Top three contributors for the global smart water meter market are elaborated below
Smart water meter market in the Americas: The evolution of smart cities, strict government regulations, and rapid development of water infrastructures will contribute to the growth of the American market. Utility firms and regulatory authorities are encouraging the adoption of smart technology solutions to streamline their operations. These meters help the firms with the management of assets and distribution network. The US and Canada will generate the highest revenues in the American market.
According to Thanikachalam Chandrasekaran, a lead analyst at Technavio, specializing in research on power, “The smart solutions available in the market help companies reduce their maintenance and repair costs. These meters are advanced technology that harnesses the value of data analytics to ensure resources are used efficiently to save on energy costs and promote water conservation through customer engagement.”
Smart water meter market in EMEA: The development of integrated water network, reduce water leaks and instances of water bursts, and better management of the water network will increase the installation of smart water meters in the EMEA market. These systems provide real-time monitoring of the water distribution network. France, Germany, and the UK will emerge as the key revenue generators in the EMEA market.
Smart water meter market in APAC: The rising population, accelerating urbanization, an increase in manufacturing industries, and support from governments in the form of development of smart cities will drive the market for smart water meters in APAC. The government initiatives to conserve water and promote energy efficiency will boost the demand for these products in the APAC market. India and China will be the early adopters of these meters in the region.
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The top vendors operating in the global smart water meter market are:
- Elster
- Itron
- Sensus
- Landis+Gyr
Other prominent vendors in the market include Arad Group, Aclara Technologies, Actaris, Aquiba, Badger Meter, Diehl Metering, Enware, Homerider Systems, Hydrus, i2O Water, Kamstrup, KROHNE, Master Meter, Mueller Systems, Neptune Technology, and SenTec.
A more detailed analysis is available in the Technavio report titled, ‘Global Smart Water Meter Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Flow Meter Market 2016-2020
- Global Smart Water Management Market 2016-2020
- Global Water Quality Sensors Market 2016-2020
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