Factors Driving the Market Growth:

– Need for Smart Water Metering to Optimize Water Consumption

In water-scarce areas, the critical need for optimized water consumption drives the implementation of smart water meters. For example, 480 million individuals in Asia alone are anticipated to experience water scarcity in the future, according to a study from the World Water Development Report. Adopting strict laws for tracking the water distribution network combined with increasing requirements for precise allocation of resources will increase the penetration of smart water metering sector. Increasing investment in infrastructure growth directed at providing proactive services and a streamlined water supply process will increase these systems ‘ installation.

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– Utilities’ Focus Toward Reducing Nonrevenue Water

Growing policies and stepping up worldwide initiatives to minimize Non-Revenue Water (NRW) will drive the smart water metering market as a result of increasing demand for effective use of resources. Increasing the implementation of sustainable water management alternatives along with increasing focus on their conservation will boost the demand for the product. Furthermore, shifting trends towards the digitalization of distribution systems to improve effectiveness will further increase the perspective of the sector.

Factors Restraining the Market Growth:

– Lack of availability of capital funding

The absence of capital funding availability continues a significant challenge that hinders smart water meter implementation. There are also elevated operating costs related to smart water metering. Therefore, many water utilities are not filled with money and spend a lot of their money on repairing the network just to preserve the status quo.

Market Segmentation 2019-2029:

The Smart Water Metering Market is segmented on Meter Type, Technology, Component, Application, and Regional basis.

Meter type

– Electromagnetic

– Ultrasonic

– Mechanical

Technology

– AMR

– AMI

Component

– Meters & Accessories

– IT Solutions

– Communications

Application

– Water Utilities

– Industries

Regional Breakdown

Focused regional forecasts and analysis explore the future opportunities:

– North America

– Europe

– Asia-Pacific

– LAMEA

Competitive Analysis:

– Global heat shrink tubing competitive environment is expected to be moderate over the period ranging 2019 – 2029 by virtue of limited manufacturers operating in this industry

– The market competition is expected to be on the basis of new product development and product pricing.

Major Market Players:

Sensus USA Inc., Aichi Tokei Denki Co. Ltd, Zenner International Gmbh & Co. KG, Mueller Systems LLC, Diehl Stiftung & Co. KG, Apator SA, Neptune Technology Group Inc, Badger Meter Inc., Azbil Kimmon Co. Ltd, Kamstrup AS, Arad Group

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