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 smart water metering market is expected to grow from an estimated USD 3.88 Billion in 2016 to USD 5.51 Billion by 2021, at a CAGR of 7.23% 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 market globally.
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Meters & accessories to be the dominant component-based segment in the global smart water metering market
The smart water metering market in this report has been classified based on components into three segments, namely, meters & accessories, communication, and IT solution. The meters & accessories segment accounted for the largest market size, in terms of value, in 2015. It was followed by the IT solution and communication segments, respectively.
“The AMR segment would dominate the global smart water metering market”
The Automatic Meter Reading (AMR) segment is estimated to be the largest market for smart water metering in 2016. It is a metering technology that collects consumption data from the water meters and transfers it to a central database (in the utility station) for billing and other purposes (one-way communication only). Popular in North America and Europe, other regions have also started to implement this metering infrastructure to reduce non-revenue water. It is less costly when compared to AMI, and hence has a higher market size. However, the AMI market is projected to grow at the highest rate because of its superiority.
North America is the dominant market for smart water metering
North America dominates the smart water metering market, and Europe is expected to grow at the fastest pace during the forecast period. 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. Meanwhile, 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.
The demand for smart water metering can be directly linked to the development of water infrastructure and investments by the water utilities. Lack of capital and limited government support could restrain growth to a certain extent, and high CAPEX and OPEX associated with smart water metering is a significant challenge of this market. However, water harvesting and wastewater management offer lucrative growth opportunities for the smart water metering market
Some of the leading players in the smart water metering market include Itron Inc. (U.S.), Elster Group GmbH (Germany), Sensus (U.S.), Landis+Gyr (Switzerland), and Kamstrup A/S (Denmark), among others. Contracts and agreements was the most common strategy adopted by the top players in the market, constituting more than one-third of the total development share. It was followed by expansions, new product launches, and mergers & acquisitions respectively.Market share analysis based on developments for key companies has been included in the report. The scope aids market participants to identify high-growth markets and help managing key investment decisions. For this report, major players in the smart water metering market have been identified using various primary and secondary sources, which include annual reports of top market players, interviews with key opinion leaders such as CEOs, directors, and marketing personnel. The market shares have been evaluated and validated based on this research.
The stakeholders included in this report are as follows:
- Smart water meter manufacturing companies
- IT solution providers for smart water grids
- Communication service providers
- State and national regulatory authorities
- Builders and contractors
- Water distribution utilities
- Government and industry associations
- State- or government-owned corporations
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