Smart Water Metering Market size is Projected to Reach $9.73 Billion by 2030 | Honeywell International, ltron
OREGAON, PORTLAND, UNITED STATES, March 27, 2024 /EINPresswire.com/ — Allied Market Research published an exclusive report, titled, “Smart Water Metering Market By Meter Type (Electromagnetic Meter, Ultrasonic Meter, and Mechanical Meter), Technology (Automatic Meter Reading and Advanced Metering Infrastructure), Component (Meter & Accessories, IT Solutions, and Communications (Wired and Wireless)), and Application (Residential, Commercial, and Industries): Global Opportunity Analysis and Industry Forecast, 2021-2030″.
The global Smart water metering market was valued at $4.91 billion in 2020, and is projected to reach $9.73 billion by 2030, growing at a CAGR of 7.5% from 2021 to 2030.
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A Smart water metering is an electronic water monitoring device that measures and communicates water usage data from user to provider to enable proper billing and water management. Further, Smart water metering s are designed with electronics computing unit solutions that can facilitate wireless communication through between the provider and the smart Wi-Fi water meters.
The smart water metering market report offers a detailed analysis of prime factors that impact the market growth such as key market players, current market developments, and pivotal trends. The report includes an in-depth study of key determinants of the global market including drivers, challenges, restraints, and upcoming opportunities.
The smart water metering market report encompasses driving factors of the market coupled with prime obstacles and restraining factors that hamper the market growth. The report helps existing manufacturers and entry-level companies devise strategies to battle challenges and leverage lucrative opportunities to gain a foothold in the global market.
Key Market Players:
The smart water metering market size report offers an in-depth analysis of the 10 prime market players that are active in the market. Moreover, it provides their thorough financial analysis, business strategies, SWOT profile, business overview, and recently launched products & services. In addition, the report offers recent market developments such as market expansion, mergers & acquisitions, and partnerships & collaborations. The prime market players studied in the report are Aclara Technologies LLC, Badger Meter, Inc, Honeywell International, ltron, Inc., Kamstrup A/S, Landis+Gyr, Mueller Water Product, Inc., Neptune Technology Group Inc., Siemens AG, and Sensus Inc..
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Segmentation Analysis:
The smart water metering market is segmented on the basis of meter type, technology, component, application and region. The report offers an in-depth study of every segment, which helps market players and stakeholders to understand the fastest growing segments and highest grossing segments in the market.
The smart water metering market is analyzed across the globe and highlight several factors that affect the performance of the market across the various region including North America (United States, Canada, and Mexico), Europe (Germany, France, UK, Russia, and Italy), Asia-Pacific (China, Japan, Korea, India, and Southeast Asia), South America (Brazil, Argentina, Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa).
The smart water metering market report provides thorough information about prime end-users and annual forecast during the period from 2022 to 2030. Moreover, it offers revenue forecast for every year coupled with sales growth of the market. The forecasts are provided by skilled analysts in the market and after an in-depth analysis of the geography of the market. These forecasts are essential for gaining insight into the future prospects of the smart water metering industry.
The growth of the global Smart water metering market is majorly driven by rise in utilizes focus towards reducing in nonrevenue water paired with surge in need for accurate water billing solution. However, lack of government initiatives in developing economies is acting as a prime restraint of the global market. On the contrary, rise in demand for Smart water metering solution to optimize water consumption coupled with surge in digitization across water industry is anticipated to provide lucrative opportunities for the Smart water metering industry during the forecast period.
According to market research, the electronic magnetic meter segment was the highest contributor to the market in 2020. The industrial and commercial segments collectively accounted for around 65.4% market share in 2020. Surge in adoption of adoption of digital monitoring solution across industrial sectors has led to the growth of the electronic magnetic meter segment, thereby enhancing the Smart water metering market growth.
The Report will help the Readers:
– Figure out the market dynamics altogether.
– Inspect and scrutinize the competitive scenario and the future smart water metering market landscape with the help of different strictures including Porter’s five forces.
– Understand the impact of different government regulations throughout the global health crisis and evaluate the smart water metering market condition in the tough time.
– Consider the portfolios of the protruding players functional in the market in consort with the thorough study of their products/services.
– Have a compact idea of the highest revenue generating segment.
The research operandi of the global smart water metering market includes significant primary as well as secondary research. When the primary methodology encompasses widespread discussion with a plethora of valued participants, the secondary research involves a substantial amount of product/service descriptions. Furthermore, several government sites, industry bulletins, and press releases have also been properly examined to bring forth high-value industry insights.
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COVID-19 Impact Analysis:
The COVID-19 pandemic hit almost all sectors across the globe. The government restrictions and guidelines issued by World Health Organization (WHO) have temporarily suspended the manufacturing facilities. In addition, the prolonged lockdown across several countries led to disruption of the supply chain and increased raw material prices. Such factors affected the global smart water metering market growth . The report offers an in-depth analysis of the impact of the COVID-19 outbreak on the market.
The growth of the global Smart water metering market is majorly driven by rise in utilizes focus towards reducing in nonrevenue water paired with surge in need for accurate water billing solution. However, lack of government initiatives in developing economies is acting as a prime restraint of the global market. On the contrary, rise in demand for Smart water metering solution to optimize water consumption coupled with surge in digitization across water industry is anticipated to provide lucrative opportunities for the Smart water metering industry during the forecast period.
The Report Offers:
• Evaluation of market share for regional and country-level segments.
• Market analysis of top industry players.
• Strategic recommendations for new entrants.
• All mentioned segments, and regional market forecasts for the next 10 years.
• Market Trends (Drivers, Difficulties, Opportunities, Threats, Challenges, Investment Opportunities and Recommendations)
• Strategic recommendations in the main business segment of the market forecast.
• Competitive landscaping of major general trends.
• Company profiling with detailed strategy, financial and recent developments.
• Latest technological progress mapping supply chain trends.
The market study further promotes a sustainable market scenario on the basis of key product offerings. On the other hand, Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network. The report provides an explicit global smart water metering market breakdown and exemplifies how the opposition will take shape in the new few years to come. Rendering the top ten industry players functional in the market, the study emphasizes on the policies & approaches integrated by them to retain their foothold in the industry.
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