U.S. smart water metering market to record huge gains over the forecast timespan, high adoption across the residential sector to accelerate the regional growth .
— Smart Water Metering Market is stringently controlled by a regulatory framework, owing to the norms enforced with regards to the conservation of water. As per the EC Directive 2000/60/EC, it is mandatory for respective nations to prioritize the prevention of water wastage and water conservation, especially in drought-ridden areas of the region. Technologically, smart water meters can be deployed based on two key technologies – automatic meter reading (AMR) and automatic meter infrastructure (AMI).
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AMR-based smart water metering market is slated to accomplish quite some valuation by 2024, driven by the easy availability, affordable maintenance, and low installation costs that this technology is endowed with. Indeed, AMR has been massively deployed in smart electric meters as well, gradually stimulating global smart electric meter industry share.
With the digital revolution making headway in the water industry, smart water metering market is turning out to be the next opportunistic spot for potential investors. Changing demographics, water scarcity, and the substantial requirement of operational efficiency are demanding new business models in the water sector. Indeed, sustainable utilization of water has become an absolute need of the hour, quite conspicuous from the extensive initiatives undertaken worldwide with regards to water conservation. As per The United Nations World Water Development Report 2015, the world is forecast to face nearly 40% water deficit by 2030, under the business as usual climate scenario.
Smart water meters, in general, find massive applications across the commercial, residential, and utility sectors. Smart water metering market size from residential applications has been projected to cross the billion-dollar frontier by 2024. This commendable accomplishment can be credited to the increasing demand for precise water bills and the accurate formulation of unregulated spending on water resources. Indeed, smart meters also possess the ability to reduce non-revenue water & secure remote monitoring, further expanding the scope of smart water metering industry from the residential arena.
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Residential sector is one of the prominent terrains that has benefited the most from the increasing proliferation of AMI based smart meters. In fact, smart water meter market share from residential application is slated to cross billion-dollar frontier by 2024. The projected dominance of this particular business vertical can be majorly attributed to the increasing demand for accurate water bills and effective formulation of unregulated water spending. With the introduction of these meters, financial issues and pipeline leakages are better handled as they track real time water consumption and reduce water loss through NRW.
The United States is one of the most foremost growth grounds for smart water metering market. Incidentally, Glendale was the first city in the United States that set a benchmark for better utility management and responding to unexpected natural calamities such as droughts, by means of implementing smart meters to develop a smart grid network. The rising adoption of smart water meters will thus majorly drive U.S. smart water metering industry. Not to mention, the region has a strict regulatory frame of reference in place, which would serve to drive smart water meter market.
Not to mention, the regional players partaking in smart water meter industry are also approaching various tried and tested strategies to stronghold their business position. Product differentiation, price competitiveness, and effective distribution network are some of the major parameters on which these giants are focusing on. Inherently stimulated by a strong regulatory framework in tandem with appreciable initiatives undertaken by both governmental and private entities, smart water metering market size is slated to surpass USD 3 billion by 2024.
Browse key industry insights spread across 311 pages with 543 market data tables & 22 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:
Table of Contents (ToC) of the report:
Chapter 4 Smart Water Metering Market, By Application
4.1 Smart water metering market share by application, 2016 & 2024
4.2.1 Global market from residential, 2013 – 2024
4.2.2 Global market from residential, by region, 2013 – 2024
4.3.1 Global market from commercial, 2013 – 2024
4.3.2 Global market from commercial, by region, 2013 – 2024
4.4.1 Global market from utility, 2013 – 2024
4.4.2 Global market from utility, by region, 2013 – 2024
Chapter 5 Smart Water Metering Market, By Technology
5.1 Smart water metering market share by technology, 2016 & 2024
5.2.1 Global market from AMI, 2013 – 2024
5.2.2 Global market from AMI, by region, 2013 – 2024
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
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