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The increasing scarcity of water has increased the demand for water to be utilized in a more controlled manner and avoid wastage. Therefore, it is important to keep account of water being used and circulated and apply rates as per the usage. Smart water metering help in measuring the amount of water consumed, they also store and share the data at regular intervals. The data collected by smart water metering is available for both the users and the water utilities. Smart meters provide the advantage over traditional meters of controlling meters remotely, frequently, and reduction in errors during reading the units. Apart from this, smart water metering also performs various tasks such as controlling the consumption of water in customer premises, messaging the customer, notification of abnormal usage and remote meter reading on scheduled and on-demand basis.
On the basis of technology, the global smart water metering market can be segmented into automatic meter reading (AMR), and advanced meter infrastructure (AMI). Due to the advantages such as automatic logging of accurate meter reading at specified intervals of time, real-time tamper and theft alert the advanced meter infrastructure segment holds a greater market share as compared to automatic meter reading.
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On the basis of its types, the global smart water metering market can be segmented into one-way and two-way. The two-way segment offers communication with both user and the utility and real-time notification of any meter malfunction. It also offers the advantage to users of sending instructions to the water meter. On the basis of its application, the global smart water metering market is segmented into residential, commercial and water utilities. With the increasing demand to reduce the water loss and have an account of usage per customer the water metering devices are being increasingly used in the water utility sector.
The key market driver for the global smart water metering market is the growing need for water conservation and reduction in water wastage. The water scarcity in many locations has urged the government of various countries to have initiatives to have revenue over improper use and water wastage. This has seen growth in utilization in the number of smart metering devices.
Key market restraint for the global smart water metering market is the high cost which is required to be invested for installing the water metering devices. As the devices use GPS and GIS the operating cost of the devices is also high. And lack of acceptance for such huge capital and operational cost investment act as market restraint for global smart water metering market.
Key players operating in the global smart water metering market are Sensus USA Inc, Aichi Tokei Denki, Zenner International GmbH and Co KG, Mueller Systems, Diehl Stiftung and Co. KG, Apator, Neptune Technology Group, Badger Meter, Azbil Kimmon Co. Ltd, Kamstrup, Kompass, Arad Group, Aclara Technologies LLC, CyanConnode Holdings Plc, and Contadores de Agua de Zaragoza, S.
· Automatic Meter Reading (AMR)
· Advanced Meter Infrastructure (AMI)
· One Way
· Two Way
· North America (The USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
· Asia Pacific (China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
The global smart water metering market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the global smart water metering market due to early adoption of the smart water metering devices. Within the region, the USA dominates the market mainly due to government initiatives to have water meters installed across the country. The Asia Pacific is seen to be the fastest-growing region in the coming years for the global smart water metering market. The water conservation initiative taken by various countries in the region such as China, India, Japan, South Korea is the factor which will bloom the smart water meter market in this reason. In Europe, the growing industrial advancements and dependency of industries on the water will see smart meters being used on a larger scale mainly in countries like the UK and Germany. The Middle East and Latin America will also see a rise in the utilization of smart meters to tackle the problem of water scarcity at various locations in the regions.
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