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(IT-NEWSWIRE.COM, March 23, 2019 ) The report "Smart Water Metering Market by Type (AMR and AMI), by Component (Meters & Accessories, Communication, and IT Solution), by Application (Water Utilities and Industries) and by Region - Global Trends & Forecast to 2021", The global smart water metering market is likely to witness a growth rate of 7.23% from 2016 to 2021.
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The smart water metering market is dominated by a few major players, given their market presence across regions and brand names. These players are receiving contracts, launching new products, and adopting the strategy of horizontal integration by acquiring one or more peers in order to sustain in the competitive environment. However, the market is expected to be more competitive in the coming years, given the presence of prominent regional players. Itron Inc. (U.S.), Elster Group GmbH (Germany), Sensus (U.S.), Landis+Gyr (Switzerland), and Kamstrup A/S (Denmark) are the leading players in the smart water metering market. Aclara Technologies LLC (U.S.), Badger Meter, Inc. (U.S.), Datamatic, Inc. (U.S.), Diehl Metering GmbH (Germany), Neptune Technology Group Inc. (U.S.), B METERS s.r.l. (Italy), Arad Ltd. (Israel), and Arqiva Ltd. (U.K.) are some of the other important players.
The major players in the market have been awarded various contracts to provide smart water meters and communication & IT solutions for various water utilities globally. These companies are trying to develop specific solutions for industrial, commercial, residential, and agricultural applications. Though there are limited regulations regarding the deployment of smart water meters, when compared to the electric ones, water utilities in developed countries such as the U.S., and U.K. are planning to increase their smart water meter customer base, creating ample opportunities for players operating in this market. As a result, companies are more inclined towards adopting organic growth strategies to grow and sustain in the market; the companies have also implemented mergers & acquisitions to a certain extent.
Browse and in-depth TOC on "Smart Water Metering Market"
66 - Tables
53 - Figures
200 - Pages
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Meanwhile, North America is currently the largest market for smart water metering, followed by Europe and Asia-Pacific. The U.S. accounted for the majority share in North America in 2015, and is projected to grow at the highest CAGR from 2016 to 2021. Factors such as increasing focus towards reducing non-revenue water, retrofitting of aging water infrastructure, and the need for accurate billing are driving the global smart water metering market. Moreover, almost all developing countries in Asia-Pacific and the Middle East are yet to fully embrace this technology, creating huge opportunities for the market players.
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In North America, the growth of the smart water metering market can be attributed to focus on water monitoring & prevention of water leakage and the repair & upgrade of aging water infrastructure. In the Asia-Pacific region, drive towards reducing water leakage, preventing water theft, minimizing inaccurate metering, and managing growing water scarcity will positively impact the smart water metering market. Several smart water meter rollouts are taking place in countries such as the U.K., Germany, and France, which would drive growth in the European region.
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Mr. Shelly Singh
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raviraj.tak@marketsandmarkets.com
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