The global smart water market is expected to grow with double digit CAGR during 2016 – 2025. North America had the largest contribution in the global smart water meter market during the historical period (2012 – 2015). The smart water meter market is being driven by several factors such as increased accessibility of consumers and water utilities, minimization of non-revenue water, growing interest of water utilizes towards installation of smart water meters and government support.
Non-revenue water (NRW) is usable water that is lost before reaching to the consumer. The losses can be in the form of leaks, thefts or metering inaccuracies. In developed countries, the NRW accounts for around 20% in the total water produced, whereas in the developing countries around 50% of the total water produced is lost. Smart water meters help in detecting the leakages in the water network, thus minimizing the loss of non-revenue water. Water being one of the necessary resources, the increasing amount of non-revenue water has been a major concern for government and water utilities. Several governments have been encouraging the installation and use of smart meters in order to reduce the NRW. This emerges as another important driver for the smart metering market.
The governments across several countries have started to develop programs to minimize water loss. The European countries are forerunners in such initiatives. The Water Framework Directive (WFD) in Europe is one of the legislations targeted to minimize the operational costs of water companies. This is driving the smart water meter market, especially in England and Wales. Several countries including Belgium, Netherlands, Malta, Kuwait and Bahrain import huge amount of water, which impels the governments in these countries to deploy smart water management solutions. The Ontario Energy Board in Canada replaced several traditional water meters with the smart water meters during 2007 – 2012. The drought in California, the U.S. in 2015 forced the government to take steps to combat water crisis. This resulted in the replacement of traditional dumb water meters with the smart water meters. In September 2016, five municipalities in Norway have made a common investment towards the installation of about 14,000 smart water meters. During the same year in June, the city of Antwerp, Belgium ordered the supply of 193,000 smart meters to Kamstrup. In June 2016, the government in Turks and Caicos Islands located in the British overseas is planning to improve its water network with the deployment of smart water meters. The City of Saskatoon in Canada ordered the installation of 70,000 water modules in 2015.
The benefits of smart water meter are propelling its demand across several regions. Middle-East & Africa (MEA) is one of the regions that is expected to grow significantly during the forecast period. The smart water meter market in MEA is lowest among all the regions; however the growing concern for water conservation especially in Middle-East is bolstering the demand of smart water meters during the forecast period. The smart water meter companies such as Kamstrup and Cyan are entering the MEA market owing to the observed growth potential of the region. Iran is among the forerunners in the adoption of smart meters, whereas Saudi Arabia is the largest market in the region.
Some of the key players operating in the global smart water meter market include Badger Meter, Itron, Landis+Gyr, Elster Group, Kamstrup, Aclara Technologies, Sensus, Neptune, Diehl and Acquiba.
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