Smart Water Meters Market to witness more than 16% growth to 2024
SELLBYVILLE, Del., July 25, 2018 /PRNewswire-iReach/ -- According to a latest research report by Global Market Insights, Inc. "Annual installation of smart water meters market is set to exceed 35 million units by 2024; surpassing a revenue of USD 3 Billion" Implementation of favorable government policies and rollout programs toward the adoption of intelligent systems will boost the smart water metering market. Initiatives focusing on effective water monitoring and conservation will further propel the industry landscape. For instance, the European Union in collaboration with the International Monetary Fund announced a mandatory rollout of smart water meters in Ireland.
Increasing measures toward water security and monitoring of Non-Revenue Water (NRW) will enhance the smart water meters market. Increasing urbanization, ageing distribution mains and rising energy cost will further provide a stimulus to the industry outlook. According to the World Bank, 32 billion cubic meters of treated water is lost through leakages in distribution network worldwide. An additional 16 billion cubic meters is supplied annually but not charged due to poor metering, inappropriate billing and thefts.
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U.S. smart water metering market is projected to expand over 6% by 2024. Ongoing water conservation reforms coupled with government funding toward installation of smart grid technologies will positively drive the product adoption. In 2013, the U.S. Department of Energy and the Smart Grid Investment Grant (SGIG) mutually sponsored the installation of smart grid infrastructure in the nation and provided a federal financial assistance of over USD 8 billion in 99 ventures.
AMI smart water meters market is predicted to grow over 28% by 2024. The use of AMI systems is attributed to quick detection of water leakages, reduction in water wastage and improved water supply. These systems offer advanced capabilities in data analysis and operations.
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Rising demand for effective management, monitoring, and utilization of water will fuel the smart water metering market. Global initiatives toward water conservation and measures to address water scarcity will further propel the business landscape. In 2015, the U.S. average water consumption has witnessed significant drop owing to growing water conservation concerns across various states in the country.
Growing measures toward effective mapping of water distribution coupled with regulatory regimes to limit non-revenue water loss will complement the Europe smart water meters market. Increasing administrative emphasis toward the development of high performance advanced systems will further embellish the industry growth.
Ongoing technological advancement to develop effective and precise metering technologies will boost the commercial smart water meters market. Rising concerns relating to reduction of water wastage and water scarcity will further facilitate the product adoption.
Notable players operating in the industry comprise of Landis+GYR, Badger Meter, Itron, Siemens, Arad Group, Schneider Electric, Sensus Sentec, Neptune, Kamstrup, Elster Group, Diehl Metering and Honeywell International.
Buy this industry insights spread across 311 pages with 552 market data tables & 16 figures & charts from the report, "Smart Water Metering Market Size By Technology (AMR, AMI), By Application (Residential, Commercial, Utility), By Product (Smart Hot Water Meter, Smart Cold Water Meter), Industry Analysis Report, Regional Outlook (U.S, Canada, Germany, UK, France, Russia, Sweden, Italy, Denmark, Austria, Spain, Japan, China, South Korea, India, Australia, UAE, Saudi Arabia, Oman, Kuwait, Iran, Jordan, Egypt, South Africa, Nigeria, Mexico, Brazil, Uruguay, Argentina, Chile), Growth Potential, Competitive Market Share & Forecast, 2017 - 2024" in detail along with the table of contents:
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Chapter 5 Smart Water Metering Market, By Technology
5.1 Smart water metering market share by technology, 2016 & 2024
5.2 AMI
5.2.1 Global market from AMI, 2013 - 2024
5.2.2 Global market from AMI, by region, 2013 - 2024
5.3 AMR
5.3.1 Global market from AMR, 2013 - 2024
5.3.2 Global market from AMR, by region, 2013 - 2024
Chapter 6 Smart Water Metering Market, By Product
6.1 Smart water metering market share by product, 2016 & 2024
6.2 Smart hot-water meter
6.2.1 Global market from smart hot-water meter, 2013 - 2024
6.2.2 Global market from smart hot-water meter, by region, 2013 - 2024
6.3 Smart cold-water meter
6.3.1 Global market from smart cold-water meter, 2013 - 2024
6.3.2 Global market from smart cold-water meter, by region, 2013 - 2024
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/smart-water-metering-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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SOURCE Global Market Insights, Inc.
