The "Smart Water Meter Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The global smart water meter market is anticipated to foresee a growth at a CAGR of 14.03% from a market size of $916.663 million in 2019 to reach a market size of $2,105.229 million by the end of 2025.
Smart water meter helps customers in monitoring their property water flow rates in real time and compare their water usage with the historical data. The increasing need in order to minimize water wastage along with the growing demand for water preservation is considered as key drivers for market growth during the forecast period.
Moreover, technological advancements and rising government initiatives in order to save water are also contributing to driving the market growth during the forecast period. A smart water meter not only helps in the measurement of water flow, but it utilizes wireless communication for connecting to local or wide area networks, further allowing remote location monitoring, in addition to infrastructure maintenance via leak detection. The sophisticated instrument also helps in enabling automatic billing and thus assist in customer management as well. This includes detection and protection against tampering attempts as well.
The companies offering smart water meter are battery-powered and are low-power devices that play an important role in defining system configurations. The growing trend of the utilization of electronic products contributing to less power consumption is further providing an impetus in burgeoning the market growth during the course of the forecast period. The growing sensor technologies is further augmenting the market growth owing to the placement of sensors in smart water meters. These smart meters include inductive sensors, ultrasonic sensors, and electromagnetic sensors.
Companies Mentioned
Concerns regarding water scarcity are driving the market demand during the forecast period.
It has been estimated by the United Nations Department of Economics and Social Affairs that by the end of 2025, around 1.8 billion people are predicted to live in regions having absolute water scarcity. Also, it has been further predicted by the organization that around two-thirds of the global population would be living under water-stressed conditions.
It has been predicted that more than 2 billion individuals live in countries under high water stress
Hence, with these issues, the application of advanced metering solutions will address the upcoming global problem with the growing need for conserving and optimizing the global water supply. Smart water meters with advanced metering infrastructure (AMI) applications will enable the two-way communication between the meters and water utilities, further providing accurate information regarding water system. Smart water metering includes meter data management software and services providing utilities with end-to-end capabilities in order to remotely read meters and helps in the integration of data with back-end systems.
The growing demand for investments in smart city infrastructure development is providing an opportunity for the market to thrive in the forecast period.
It has been observed that the governments from all over the world are spending heavily every year on building and repairing crucial infrastructure. The trend has been observed especially in the developing economies of the world with increasing urbanization. Hence, these developing regions of the world require additional infrastructure spending in comparison to the developed regions of the world. The current amount is not sufficient to meet the demands for transportation, water, power, sanitation, energy, and other infrastructural needs such as in order to fulfill the needs of smart city development. Hence, efforts are being made towards the participation of private entities to fulfill the future infrastructural demands.
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Market Opportunities
4.4. Porters Five Forces Analysis
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Power of Buyers
4.4.3. Threat of New Entrants
4.4.4. Threat of Substitutes
4.4.5. Competitive Rivalry in the Industry
4.5. Industry Value Chain Analysis
5. Smart Water Meter Market Analysis, by End-Use Application
5.1. Introduction
5.2. Residential
5.3. Commercial
5.4. Industrial
6. Smart Water Meter Market Analysis, by Geography
6.1. Introduction
6.2. North America
6.3. South America
6.4. Europe
6.5. Middle East and Africa
6.6. Asia Pacific
7. Competitive Environment and Analysis
7.1. Major Players and Strategy Analysis
7.2. Emerging Players and Market Lucrativeness
7.3. Mergers, Acquisitions, Agreements, and Collaborations
7.4. Vendor Competitiveness Matrix
8. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/408z1s
View source version on businesswire.com: https://www.businesswire.com/news/home/20201130005687/en/
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