Smart Water Meter Market Trend From 2023 To 2028 And Unlimited Opportunities for New Companies
Increasing concerns regarding growing water scarcity across the globe are creating a positive outlook for the market.
SHERIDAN , WY, USA, December 5, 2022 /EINPresswire.com/ — According to IMARC Group’s latest report, titled “Smart Water Meter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global smart water meter market size reached US$ 7.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.1 Billion by 2028, exhibiting a growth rate (CAGR) of 11.1% during 2023-2028.
Smart Water Meter Market Overview:
A smart water meter refers to a low-power device that measures water flow using a wireless connection to access local or wide area networks. It is equipped with an electronic computing unit (ECU) that facilitates communication between the meter and the supplier. Smart water meter devices are widely used to offer instant and real-time information about the overall water consumption to authorities and individuals. It assists in reducing the overall labor cost by identifying the exact water usage and providing accurate billing, along with the ability to detect thefts. As a result, these devices find extensive applications across water utilities and commercial, industrial, and residential establishments.
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Smart Water Meter Market Trends:
Increasing concerns regarding growing water scarcity across the globe are creating a positive outlook for the market. Smart water meters are widely used to ensure better management of the integrated water network. Additionally, the COVID-19 disease heightened the water usage for washing hands and maintaining hygiene measures, which, in turn, is favoring the market growth. Apart from this, the integration of Internet of Things (IoT)-based devices and the sudden shift toward digitalized distribution systems are providing an impetus to the market growth. Moreover, the implementation of various government initiatives for monitoring water distribution networks is positively influencing the market growth. Other factors, including the development of smart cities and extensive research and development (R&D) activities, are anticipated to drive the market growth.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Smart Water Meter Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
Badger Meter
Kamstrup A/S
Diehl Stiftung & Co. KG
Landis+Gyr, Aclara Technologies LLC (Hubbell Incorporated)
Sensus (Xylem Inc.)
Itron Inc.
Zenner
Neptune Technology Group (Roper Technologies)
Market Segmentation:
Breakup by Product:
Electromagnetic Meter
Ultrasonic Meter
Electromechanical Meter
Others
Breakup by Meter Type:
Smart Hot-Water Meter
Smart Cold-Water Meter
Breakup by Configuration Type:
Automated Meter Reading (AMR)
Advanced Metering Infrastructure (AMI)
Breakup by Component:
Meters & Accessories
IT Solutions
Communication System
Breakup by Application:
Water Utilities
Commercial
Industrial
Residential
Breakup by Region:
North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
Market Performance (2017-2022)
Market Outlook (2023-2028)
Market Trends
Market Drivers and Success Factors
the Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Elena Anderson
IMARC Services Private Limited
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