Smart Water Meter Market is Projected To Witness Vigorous Expansion By 2018 - 2026

The demand within the global smart water meter market is rising on account of growing focus on water conservation across regional territories. The scanty levels of freshwater reserves across the world has generated a sense of alarm amongst the masses. Several international conferences and conventions have taken water conservation as an important agenda. Furthermore, global leaders have engaged in pragmatic discussion and debate to resolve the water crisis that surrounds the world. Several countries in Africa are feared of running out of ample water resources over the course of the next few decades. Therefore, the global smart water meter market is growing as the need for optimization of water resources gains swing.

• Climate experts and environmentalists have predicted unfavourable patterns of rainfall over the next few years. Moreover, the growing dangers of acid rain have led conservationists to preserve the existing fresh water reserves. In this scenario, judicious usage of water across commercial, industrial, and residential domains has become a necessity. Smart water meters have emerged as an important technology that can change the way people consume water for their needs. These meters can help in measuring the requirements and usage of water across a particular locality during a given period of time. Smart water meters have been hailed as a central force that can foster sustainability across the planet.

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The development of smart cities across leading countries and territories has given an impetus to the sale of smart water meters. These meters are a part of the robust, succinct, and globally accepted ecosystem that surrounds a smart city. Smart water meters can function in sync with several other technologies such as smart electric meters. The ability of municipal bodies to gather insights about water usage across a locality shall play a vital role in driving demand within the market.

Two-way meter segment projected to expand at a rapid pace

In terms of meter type, the smart water meter market has been segmented into one-way meter and two-way meter. One-way smart water meters allow one-sided communication that allows the user to get the meter reading remotely with the help of drive-by and walk-by methods. One-way smart water meters are based on the AMR (automatic meter reading) system. However, AMR-system-based one-way smart water meters are older-technology products and they are rapidly getting replaced by two-way smart water meters based on the AMI (advanced metering infrastructure) system. Two-way smart water meters offer two-way communication and several other benefits over one-way smart water meters. Along with the capability of remotely collecting the meter reading, they also allow users to get notifications pertaining to the smart water meter battery as well as any kind of water meter malfunction. Moreover, users can send instructions to smart water meters.

North America to continue to hold a major share of the global smart water meter market

North America is expected to hold a major share of the global market for smart water meter during the forecast period. Leading share of the region is primarily attributable to strong presence of well-established players across the region, especially in the prominent economy i.e. the U.S. Moreover, the U.S. Government is investing heavily in deploying innovative smart water meters in place of older water meters across the country. North America is home to several well-established players that manufacture smart water meters, including Badger Meter, Inc., Sensus USA Inc., and Itron Inc. Furthermore, the region is witnessing high adoption of smart water meters due to continuously increasing government investments in the region.

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