The smart water meter does not only measures the water flow but uses the wireless communication for the purpose of connecting to local or the wide area networks allowing the remote location monitoring & infrastructure maintenance through leakage detection & automatic billing & customer management including detection & countering the tampering attempts. Smart meters are actually battery powered & thus the low-power devices play a very crucial role in defining system configurations.
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With increasing pressure on the water utilities due to the growing demand, increasing water stress, rising energy prices, & aging water systems, smart water network solutions have emerged with significant benefits, by combining advanced metering technology, software, and effective communications systems. The integration of the said components enables end users to account for every drop and turn water into revenue through enhanced leak detection and unparalleled data acquisition. Critical need for the optimized consumption of water in the water-scarce areas is driving deployment of the smart water meters. As per the report by the World Water Development Report around 480 million people in the Asian continent alone are expected to face the water scarcity in coming days. Moreover, an approximate 500 million people live in such areas where the water consumption exceeds locally renewable water resources by a factor of two. Due to these concerns, there is an increasing necessity to monitor the water usage, which is predicted to subsequently result in the increasing adoption of the smart water meters.
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Lack of availability of the capital funding remains as the major challenge which is hindering the adoption of the smart water meters. Operating costs associated with the smart water metering are also relatively very high. Thus, lot of water utilities are not flush with cash & spend much of their budget on making the network repairs just for the purpose of maintaining status quo.
Most of the housing complexes do not track the consumption of water in apartments. The growing number of the residential buildings & the consequent increase in the water consumption are expected to have a very positive impact on the integration of the smart water meters. The integration or the incorporation of smart meters in residential sector is likely to save or mitigate water consumption by approximate 35%, which is not going to foster efficiency only, but also help the residents manage their bills.
Smart water meter market is highly competitive & consists of several major players. In terms of the market share, few of the major players currently dominate the market. However, the companies are increasing their market presence by securing new contracts and by tapping into new markets.Few major players operating in the market are Sensus USA, Mueller Systems llc, Diehl, Kamstrup and Neptune Technology among others.
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The statistical graphing report on the global Water Meter Market has been presented by using professional or expert knowledge through standard and modified research approaches and forecasts.
The yearly forecast and predication for the years 2020 to 2025 have been enclosed by the report along with comprehensive analysis for all the segments and regions.
The statistical data derived from authentic resources and assisted by industry experts.
It likewise assesses the data by evaluating market elements, including drivers, restraints, opportunities, threats, challenges, growth prospects, and other elements.
A water meter is a device that is used to measure the volume of water used by residential and commercial building that are supplied with water by a public water supply system.
The Mechanical Water Meter segment is projected to account for the largest volume share during the forecast period, however, with the acceleration of China’s urbanization process and strengthened the comprehensive utilization of water resources by government, the smart water meter has entered a period of rapid replacement of mechanical water meters.
May 08, 2019: Global Water Meter Market is estimated to grow significantly in the forecast period owing to the global advancement of water infrastructure segment and efforts to decrease the quantity of non-revenue water.
Just like the electricity and gas meters, water meters record the quantity of water used.The monthly charges for water and sewerage services are calculated from the meter by using the meter reading.
Water meters are classified in four types namely, water meters, ice meters, moisture meters, and hygrometers (for air humidity).
In farming, gauging the irrigation water with the help of water meters is an accurate way for watering crops.
The obvious fact about draining water assets have raised issues concerning measures to reduce water utilization and wastage across globe, thereby impacting water meter market.Browse Complete Summary Click Here @ https://www.radiantinsights.com/research/global-water-meter-market-outlook-2017-2022 Governments of different economies in the world are taking initiatives for reducing wastage by highlighting and introducing different water meters to inspect the required water measure for various purposes, its wastage and techniques for preservation.
Owing to the growing infrastructure in developing areas and strong presence of numerous manufactures, Asia Pacific is predicted to lead water meter market.The key players in water meter market include ., Apator SA, Arad Group, Diehl Stiftung & Co. KG, Azbil Kimmon Co., Ltd., Badger Meter, Inc., Fedrel Meter, Elster Group GmbH, Neptune Technology Group Inc., G. Gioanola S.R.L., Aichi Tokei Denki Co., Ltd, Ningbo Water Meter Co. LtdB Meter, Maddalena Spa, Kamstrup A/S, Itron Inc., Master Meter, Inc., ZENNER International GmbH & Co. KG, Mueller Systems, LLC., Plata Meter Co., Ltd, Jiaxing Eastron Electronic Instruments Co., Ltd., and Sensus (Xylem Inc.).The global market for water meter will grow at a CAGR of 6.4% by 2022, according to a new report published by Gen Consulting Company.
