- Global Smart Water Metering Market is expected to grow at a CAGR of 10.1% during the forecast period (2020-2027)
- A smart water meter measures water flow and uses wireless communication to connect to local or wide area networks allowing remote location monitoring and infrastructure maintenance through leakage detection and automatic billing and customer management including detection and countering tampering attempts. Smart meters are battery-powered, and thus low-power devices play a crucial role in defining system configurations.
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- Need for smart water metering to improve water consumption and services focus on reducing nonrevenue water are the driving factors for the growth of the market. The main benefits of the smart water system are the provision of accurate and regular readings to the centralized metering application, freed-up personnel and avoiding a human factor from the data collection, processing, and billing. An additional profit is introduced by the quickly leaks identification which allows preventing substantial water losses or property damages.
- Companies are focusing to launch smart water metering solutions to improve water consumption. For instance, The ADD GRUP has introduced smart water prepayment solution with multi-services and features that includes ADD water meter, a shut-off valve, LoRaWAN gateway, a user interface, and a smart measuring system for remote reading and data management. Adding to this, manufacturers are also concentrating on combining IoT concepts with LPWAN communication technology. For instance, WAVIoT has developed integrated solutions for automated metering infrastructure. WAVIoT offers state of the art metering cost-effective solution with extraordinary scalability.
- However, Lack of government initiatives is the key restraint hindering market growth globally. One of the most significant barriers to the adoption of advanced water metering systems is the high cost of deployment and the unsuitability of traditional communications systems.
Market Segment Analysis
- Based on the meter type, the smart water metering market is classified into the mechanical meter, electromagnetic meter, and ultrasonic meter. The ultrasonic meter holds remote reading capabilities without use of any add-on devices. The ultrasonic meter enables efficient detection of leaks, bursts, reverse flows, etc. and thereby lower the amount of Non-Revenue Water in distribution network and prevent revenue loss. Companies are launching smart water meters that related to ultrasonic meters. For instance, Kamstrup has launched flowIQ 2100, flowIQ 3101 ultrasonic smart water meters that suited for commercial and industrial uses. These meters are made of metal and the meter house is fully watertight.
Market Geographical Analysis
- The North America smart water metering market size was worth USD YY million in 2019 and is estimated to reach USD YY million by 2026, at a CAGR of 10.1 during the forecast period. Rising initiatives and campaigns by governmental and non-governmental organizations to save water is fueling industry growth in North America countries like the U.S. and Canada. For instance, The US state of California is one of the leading regions, with cities installing smart water meters to help consumers improve management of water consumption through access to real-time usage data.
- Adding to this, Pleasanton City is deploying some 22,000 smart water meters in a USD 7 million initiative whilst the East Valley Water District invested USD 2 million with Equarius Waterworks of Torrance for the supply and installation of smart meters over a period of five years. Furthermore, Key players in North America, particularly in USA, are focusing to extend their market presence. For instance, U.S. water technology company Xylem has bought Sensus USA, a provider of advanced metering technologies to utilities, for around USD 1.7 billion in cash.
Market Competitive Trends
- The Smart Water Metering market is competitive with existing players in the market. Some of the major players include Landis+Gyr, B Meters, Neptune Technology Group, Aclara Technologies, Datamatic, Badger Meter, Kamstrup, Zenner, Xylem inc and Arad Group.
- In July 2019, SMART.MET has launched the prototyping of new smart water metering solutions.
- In September 2019, McWane India has launched a new Complete End-to-End Smart Water Metering Solution.
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