The global market for smart water meter is likely to benefit from the vast advantages of smart water meters such as clear and dependable data pertaining to real-time water consumption, benefits in saving water losses, and proactive and predictive services for water utility companies. A recent report by Transparency Market Research estimate that the market will expand at a healthy rate over the period between 2017 and 2025. The report is titled “Smart Water Meter Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017–2025.”
The market will be chiefly driven by the increased global awareness regarding the need to control and assess the overall consumption of water in the face of rising water scarcity and reduce water leakages and the increased uptake of advanced metering infrastructure owing to its obvious benefits in all these areas. The proliferation of IoT technologies and their convergence with water management industry is also expected to drive the global market for smart water meters.
The report states that from a geographical standpoint, the market in North America is presently the largest and most influencing regional market for smart water meters. The regional market is likely to continue its promising pace of expansion in the next few years. The market in Europe is expected to emerge as the one with the most promising pace of expansion, outpacing other regional markets. The market in Asia Pacific is also expected to present lucrative growth opportunities owing to the increased adoption of automation technologies across a number of industries.
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The report states that the vendor landscape of the global smart meter market is highly fragmented and is thus immensely competitive. Some of the leading companies operating in the global smart water meter market are Sensus, Honeywell, Itron, Elster Group GmbH, IBM, GE, Aclara Technologies.