Increasing water losses due to water thefts and water leakages demand for a quick response alert notification tracking system driving deployments for smart water meter market
The global smart water meter market is experiencing an intense growth with regards to the investments, trials being carried out and deployment for future in the current scenario and is anticipated to rise in the coming years. The smart water meter market consists of some well-established players across the globe, which invest huge amounts in order to deliver the most advanced service to the customers. Also, there are many stakeholders in the smart water meter ecosystem that are involved in the end-to-end development of smart water meter technology and ensuring that the best service is made available for the users. Government funding for research & development, strategic partnerships between chipset manufacturers, equipment vendors, network operators and Government bodies are anticipated to enable huge surges in the market for smart water meter over the forecast period. The smart water meter market is anticipated to grow at a CAGR of 12.4% between 2018 and 2025.
The world is facing a huge scarcity of water owing to practices such as illegal tapping, tampering of pipelines, and leakage among others. Owing to this, water scarcity is rapidly increasing in the current scenario and the issue is anticipated to increase in the near future. According to WWF (World Wildlife Fund), approximately 1.1 Bn people globally lack access to water, totaling to 2.7 Bn find water scarce. In addition to this, another major problem faced by various regions is the misuse of water which has significantly raised the demand for advanced solutions to maintain the consumption pattern from the source to destination. The substantial demand for an advanced solution has led to development and implementation of smart water meters, which are capable of monitoring the consumption pattern along with supervising and recording the leakage, theft and illegal tampering. The smart water meters are wired or wireless mechanisms, integrated with data management programs through which the user or operator are able to review/ check the consumption pattern.
The technological advancements in the field of water conservation is a major progress to fight water scarcity. Various governments of developed and developing regions across the globe are constantly increasing their interest in adopting these robust technologies to provide an adequate quantity of water to the mass. In addition, various private organizations are also striving hard to implement technologically enriched smart water management systems to cope up with water scarcity problems across the globe. Thus, water scarcity and demand for proper maintenance of water consumption pattern is increasing the adoption of smart water meters thereby bolstering the market for smart water meter and this trend is to foreseen to continue in the future.
Some of the major players influencing smart water meter market are ARAD Group, DIEHL Metering Group, Elster Group, Kamstrup A/S, and Mueller. Also, Sensus, Neptune Technologies, Badger Meters, Itron, and Aclara Technologies LLC. are other key companies in the smart water meter market.
