Wilmington, Delaware, United States, May 10, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - Governments of several countries are raising awareness about benefits of advanced water metering infrastructure for utility providers, municipalities, and end-users, which is fueling the demand for smart water meters.
Installation of smart water meters in residential, commercial, and industrial buildings is gaining traction due to their benefits in improving water consumption efficiencies, automating water billing, and obtaining real-time web-based monitoring of the water usage. The global smart water meter market is projected to expand at a CAGR of 6.9% from 2022 to 2031 to reach US$ 7.6 Bn by 2031.
Technological advancement in the system, especially IoT-enabled smart water metering devices, has led to improved water utilization. Smart meters enable consumers and utility companies to gain insight through advanced data analytics and subsequently reduce losses.
Increasing incorporation of edge computing in smart water metering system helps in efficient remote monitoring of water. Considerable advancements have been made in hardware components of smart water meters such as in pressure sensors, meters, and modules.
Get the Recently Updated Report on the Smart Water Meter Market as a Sample Copy at - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=32777
Key Findings of Study
- Rise in Installation of Smart Water Meters in Residential & Commercial Buildings: Smart water meters are gaining traction to monitor water usage, reduce water wastage, and detect water leaks in residential and commercial buildings.
- Adoption of smart water meters among residential users in several countries is anticipated to increase significantly due to several benefits the system offers to end-users, such as real-time web-based monitoring and remote monitoring attributes.
- Constant Advancement in Water Metering Technology to Broaden Market Outlook: Companies are incorporating novel technology for smart water metering systems. For instance, integration of sensors for monitoring temperature in water pipelines. Introduction of smart water monitoring systems is anticipated to bolster market development in the near future.
- Advancements in sensor interface are likely to pave the way for development of next-gen smart water meters. For instance, the launch of Smart Gateway Sensor Interface for water metering infrastructure, by Sensus, is expected to enable smart communication between utility companies and customers.
Key Drivers
- Consistent efforts in several countries for the development of smart cities are anticipated to drive the demand for smart water metering infrastructure in urban areas. Need to improve water usage and considerable focus on water conservation worldwide are key factors that are expected to drive the smart water meter industry. For instance, pressing need for accurate billing in water consumption is driving the demand for smart water meters.
- Continuous technological advancement in water metering systems, such as IoT-based systems, is anticipated to augment the market size in the near future.
- Growing investments in smart water metering infrastructure in developing countries is anticipated to augment the market size in the near future.
Get Customization on this Report for Specific Research Solutions: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=32777
Regional Growth Dynamics
North America is projected to account for leading smart water meter market share from 2022 to 2031. Rapid pace of development of smart city infrastructure and consistent initiatives by governments to encourage deployment of smart water meters are key factors that are expected to propel the market in the region. Surge in adoption of IoT-enabled water metering system is expected to boost the market value in the next few years.
Competition Landscape
Prominent companies in the smart water meter market are collaborating to adopt recyclable materials in water meters. Leading players are focusing on IoT-based and cloud-based water metering solutions to increase market share in the near future. They are also investing considerably in R&D to launch next-generation water infrastructure metering solutions.
Key players operating in the smart water meter market are:
- Arad Group
- Badger Meter Inc.
- BERMAD CS Ltd.
- Diehl Stiftung & Co. KG
- Landis + Gyr
- Neptune Technology Group Inc.
- Sensus USA Inc.
- Aclara Technologies LLC
Key Points from TOC:
1. Preface
1.1. Market Introduction
1.2. Market and Segments Definition
1.3. Market Taxonomy
1.4. Research Methodology
1.5. Assumption and Acronyms
2. Executive Summary
2.1. Global Smart Water Meter Market Overview
2.2. Regional Outline
2.3. Industry Outline
2.4. Market Dynamics Snapshot
2.5. Competition Blueprint
3. Market Dynamics
3.1. Macro-economic Factors
3.2. Drivers
3.3. Restraints
3.4. Opportunities
3.5. Key Trends
3.6. Regulatory Framework
4. Associated Industry and Key Indicator Assessment
4.1. Parent Industry Overview – Global Smart Metering Industry Overview
4.2. Ecosystem Analysis
4.3. Pricing Analysis
4.4. Technology Roadmap
4.5. Industry SWOT Analysis
4.6. Porter’s Five Forces Analysis
4.7. COVID-19 Impact and Recovery Analysis
5. Global Smart Water Meter Market Analysis By Component
5.1. Smart Water Meter Market Size (US$ Mn) and Volume (Thousand Units) Analysis & Forecast, By Component, 2017–2031
5.1.1. Hardware (US$ Mn, Thousand Units)
5.1.1.1. Meter
5.1.1.2. Module
5.1.1.3. Pressure Sensor
5.1.1.4. Others
5.1.2. Software
5.1.3. Services
5.2. Market Attractiveness Analysis, By Component
6. Global Smart Water Meter Market Analysis By Meter Type
6.1. Smart Water Meter Market Size (US$ Mn) and Volume (Thousand Units) Analysis & Forecast, By Meter Type, 2017–2031
6.1.1. Electromagnetic Meter
6.1.2. Ultrasonic Meter
6.1.3. Mechanical Meter
6.2. Market Attractiveness Analysis, By Meter Type
TOC Continued……
Buy this Premium Research Report | Immediate Delivery Available - https://www.transparencymarketresearch.com/checkout.php?rep_id=32777<ype=S
Smart Water Meter Market Segmentation
Component
- Hardware
- Meter
- Module
- Pressure Sensors
- Others
- Software
- Services
Meter Type
- Electromagnetic Meter
- Ultrasonic Meter
- Mechanical Meter
Technology
- Automatic Meter Reading (AMR)
- Advanced Meter Infrastructure (AMI)
Application
- Residential
- Commercial
- Industrial
Regions Covered
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact:
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com
