Publishing: September 2021 | Report Code: SE11892 | Available Format: PDF
Smart Water Metering Market Overview
The global smart water metering market is registering a positive growth year-over-year; buoyed by factors such as growing awareness toward water theft prevention, countering inaccuracy in water billing, and managing issues related to water scarcity. The adoption of smart water metering is also attributed to increasing government support through non-revenue water minimization initiatives, globally. Additionally, the smart water meter provides real-time data, reduction in water bills and offers better operation efficiency. Smart water meters use predictive analytics for regulating supply and provide adjustable alarm notifications to avoid end point variances.
The major advantage of smart water meter is that it reduces error in reading meter values, as it is digital in nature. This leads to greater accuracy, as compared to conventional basic meters. Smart water meters perform various tasks, such as controlling the consumption of water within a customer’s premise, messaging the customer, notification of abnormal usage to the customer, and remote meter reading on a scheduled and on-demand basis.
Based on technology, the smart water metering market is categorized into advanced metering infrastructure (AMI), and automatic meter reading system (AMR). Among these, AMI is expected to register faster growth in the forecast period. This can be attributed to features such as two-way communication between customers and water utilities, and real-time tamper and theft alerts offered by AMI. The AMI technology offers accurate and timely meter reading that are automatically logged into billing software.
Based on application, the smart water metering market is categorized into water utilities, agriculture, industrial, and residential. Among these, water utilities are the largest application area of smart water metering; owing to increasing demand for reducing water loss. For instance, according to California State Water Resources Control Board, there was an 11% increase in water savings during the month of November 2017 as compared to the same period in 2013. Further, agriculture is expected to be fastest growing segment; owing to increasing advancement such as use of internet of things (IoT) enabled solutions for enhancing canal-based irrigation.
Geographically, North America led the global smart water metering market, due to early adoption of two-way water meters used in AMI. Within North America, the U.S. accounted for dominant share, primarily due to stringent regulatory norms and increasing government initiatives toward installation of smart meters in the country. For instance, the U.S. smart water metering market is exhibiting increased support from the government; California state witnessed the deployment of smart water meters to assist consumers in order to improve water consumption management.
Moreover, APAC is predicted to register fastest growth in the market; owing to increasing government initiatives towards the conservation of water in the region. For instance, the government of Japan is planning to deploy 100% smart water meters by 2025. Further, with growing agriculture sector in the region, the demand for smart water meter is expected to increase in the forecast period. For instance, Malaysia’s agricultural sector recorded a year-on-year growth rate of 7.2% in 2017.
Smart Water Metering Market Dynamics
The growing demand for reducing non-revenue water, demand for optimizing water service to reduce water theft, and need for better and cost-effective water supply to customers are driving the market, globally. For instance, in developed countries, the non-revenue water represents around 20% in the aggregate water delivered, while in the developing countries it accounts for 50%. The smart water meters help in identifying spillages in the water network, in this way limiting the loss of non-revenue water.
The government of countries such as Japan, India, and Russia have begun to create projects to limit water losses; the European nations are heralds in such activities. However, high cost associated with smart water meters and lack of operational infrastructure in developing and underdeveloped countries are some factors hindering the growth of smart water metering market.
Smart Water Metering Competitive Landscape
The intensity of rivalry among players in the smart water metering market is moderate. There is a high competition among the major players in North America. Also, the players in smart water metering market are introducing various forms of electronic meters, which have no moving parts.
Some of the key players operating in the smart water metering market are Kamstrup A/S, Itron Inc, Datamatic Inc, Landis+Gyr, Honeywell International Inc., Siemens AG, Schneider Electric, Master Meter Inc, Aclara Technologies llc, Badger Meter Inc, Neptune Technology Group Inc., and Diehl Stiftung & Co. KG.
The report will provide country-wise smart water metering market analysis. Some of the major countries that is covered in the report include the U.S., Canada, China, Japan, India, Australia, South Korea, Indonesia, Saudi Arabia, U.A.E., Turkey, the U.K., Italy, Germany, France, Russia, Netherlands, Brazil, Mexico.
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