According to a new market report published by Credence Research Inc., “Global Smart Water Meter Market (By Technology (Automated Metering Infrastructure (AMI), Automated Meter Reading (AMR)), By End-use Application (Residential and Non-residential (Commercial and Industrial))) – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2017 – 2025”, the global smart water market is expected to witness a growth of 16.3% CAGR during the forecast period 2017 – 2025.
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Smart water meters are electronic devices that are used to read and measure water consumption. These are generally deployed by public water utilities that keep track of water consumption and water sent over the distribution network. Growing needs to reduce water losses through leakages and identify non revenue water, the utilities across the globe are integrating ICT solutions into their operation. This is expected to have positive impact on the overall adoption of smart water metering technologies. In addition, government mandates in several developed economies are promoting rollout of smart water meters for greater accuracy and efficient management of water utilities. These aforementioned factors are expected to contribute towards a compounded annual growth rate (CAGR) of xx.x% during the forecast period 2017 – 2025. Easy integration of residential smart water meters with the smart water network is one of the major factors driving their adoption in the residential segment. The use of smart water has gaining wide acceptance among on account of their ability to help residential owners monitor daily water consumption, identify and repair leakages, and participate in demand response. On the other hand, smart water meter installations also make it extremely easy for water utilities to bill their customers.
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The global smart water meter market is highly fragmented and technology driven. The top 4 players in the market account for less than 45% of the total market revenue. The market is characterized by the presence of good mix of domestic and international players. A new entrant needs to keep pace with the ever changing technology and hence is required to invest heavily in its research and development capabilities. On the contrary, strong government support and policies promoting water management is expected to increase the count of players entering the market in the coming years. Inorganic expansion through strategic partnerships and acquisitions is one of the major strategies adopted by the leading smart water meter manufacturers in the market. Some of the leading players identified in the global smart water meter market include Landis+GYR, Sensus, Itron Inc., Elster Group GmbH, Aclara Technologies, Arad Group, Badger Meter, Aquiba, Diehl Metering, Enware, Homerider Systems, Kamstrup, Master Meter, KROHNE, Mueller Systems, Neptune Technology, and SenTec among others. The global smart water meter market also includes large number of small players accounting for trivial market share individually.
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