Dublin, Aug. 17, 2022 (GLOBE NEWSWIRE) -- The "Global Smart Water Meter Market 2022-2028" report has been added to ResearchAndMarkets.com's offering.
MARKET OUTLOOK
The publisher estimates the global market for smart water meter to progress with a CAGR of 7.65% during the forecast period 2022-2028.
The rising demand for sustainable water supply across various industries is primarily driving the growth of this market. Also, the benefits of smart water meters, such as remote read capability, the accurate billing process, leak detection, etc., are aiding in the growth of the studied market.
However, the high installation cost of smart water meters compared to conventional meters is largely hindering the growth process. Besides, in some regions, lack of capital funding remains a challenge that ultimately affects the adoption of smart water meters. On the bright side, the rising investments in smart city projects, globally, are opening new avenues for the market.
REGIONAL OUTLOOK
The global smart water meter market spans across North America, Latin America, the Asia-Pacific, Europe, and the Middle East and Africa. Presently, North America leads the global market and is estimated to maintain its position over the forthcoming years.
Various utilities in North America are undertaking projects to replace AMR meters with AMI meters. It is because AMI-based smart metering and associated data analytics solutions allow utilities to remotely shut off valves, detect leaks, and receive intelligent alerts for immediate action. Moreover, factors such as stringent government norms, the rapid development of water infrastructures, and the evolution of smart cities have further driven the smart water meter market in North America.
Market Dynamics
Market Drivers
- Rising Demand for Sustainable Water Supply Across Various Industries
- Benefits Offered by Smart Water Meters
Market Challenges
- Limited Budget Allocation for Smart Systems
- High Cost of Smart Water Meter Installation
- Operational Issues
Market Opportunities
- Evolving Sustainable Water Management Systems
- Smart City Projects in the Pipeline Across the World
Key Topics Covered:
1. Global Smart Water Meter Market - Summary
2. Industry Outlook
3. Global Smart Water Meter Market Outlook - by Technology
4. Global Smart Water Meter Market Outlook - by End-User
5. Global Smart Water Meter Market - Regional Outlook
6. Competitive Landscape
7. Research Methodology & Scope
Companies Mentioned
- Aclara Technologies LLC (Acquired by Hubbell Incorporated)
- Arad Group
- Badger Meter Inc
- Datamatic Inc
- Diehl Stiftung & Co Kg
- Master Meter Inc (Acquired by Arad Ltd)
- Mueller Water Products Inc
- Neptune Technology Group Inc
- Sensus (Acquired by Xylem)
- Zenner International GmbH & Co Kg
- Elster Group GmbH
- Icsa (India) Limited
- Itron Inc
- Kamstrup As
- Landis+Gyr AG
For more information about this report visit https://www.researchandmarkets.com/r/n5jog
