A recent report published by Infinium Global Research on smart water meter market provides an in-depth analysis of segments and sub-segments in the global as well as regional smart water meter market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional smart water meter market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global smart water meter market. According to the report, the global smart water meter market is projected to grow at a CAGR of 11.4% over the forecast period of 2019-2025.
Recent years have brought many advancements in metering that helps water utilities more efficiently measure, monitor and analyze their resources. Advancement in technology means water utilities can begin to enjoy all the benefits of AMI and AMA without previous operational and technology concerns. Another advance in metering technology is the use of cellular metering endpoints for system-wide communications. With increasing pressure on water utilities due to growing demand, increasing water stress, rising energy prices, and aging water systems, smart water network solutions have emerged with significant benefits. The advanced technology reads the volume of water that enters a property in 30-minute intervals and wirelessly transmits water consumption data to a central gateway.
The need to track and monitor water usage accurately in industries, homes and other avenues is a major driving factor for the smart water meter market. Furthermore, factors such as rising development of the smart city infrastructure, increasing water scarcity and increasing water scarcity issues across the globe are other driving factors for the market growth. Growing water usage in industries such as automotive, food & beverage, manufacturing, construction, and the chemical is supposed to contribute significantly to trade growth. However, the lack of acceptance due to the high installation cost of smart water meters is restraining the growth of the market. Moreover, digitalization of the water industry operations is expected to provide growth opportunities to the market players.
Geographically, North America dominates the global smart water meter market owing to the strong presence of well-established players across the region. The U.S. holds a large market share in North America due to government is investing heavily in deploying innovative smart water meters in place of older water meters across the country. Europe is the second-largest market due to growing R&D efforts to provide efficient remote sensing water metering technique and increasing public initiatives for water leakage reduction.
The report on the global smart water meter market covers segments such as technology, meter type, and applications. On the basis of technology, the sub-markets include ultrasonic meter, electromagnetic meter, and mechanical meter. On the basis of meter type, the sub-markets include one-way meter, and two-way meter. On the basis of applications, the sub-markets include commercial, industrial, and residential.
The report provides profiles of the companies in the market such as Badger Meter, Inc., Kamstrup A/S, Diehl Stiftung & Co. KG, Landis+Gyr, Aclara Technologies LLC, Sensus USA Inc., Itron Inc., Datamatics Global Services Limited, B Meters, Elster Group SE, and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of smart water meter market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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