Smart Water Meter Market Has Taken a Significant Growth in Coming Years (2019-2026)

The smart water meter does not only measures the water flow but uses the wireless communication for the purpose of connecting to local or the wide area networks allowing the remote location monitoring & infrastructure maintenance through leakage detection & automatic billing & customer management including detection & countering the tampering attempts. Smart meters are actually battery powered & thus the low-power devices play a very crucial role in defining system configurations.

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With increasing pressure on the water utilities due to the growing demand, increasing water stress, rising energy prices, & aging water systems, smart water network solutions have emerged with significant benefits, by combining advanced metering technology, software, and effective communications systems. The integration of the said components enables end users to account for every drop and turn water into revenue through enhanced leak detection and unparalleled data acquisition. Critical need for the optimized consumption of water in the water-scarce areas is driving  deployment of the smart water meters. As per the report by the World Water Development Report around 480 million people in the Asian continent alone are expected to face the water scarcity in coming days. Moreover, an approximate 500 million people live in such areas where the water consumption exceeds locally renewable water resources by a factor of two. Due to these concerns, there is an increasing necessity to monitor the water usage, which is predicted to subsequently result in the increasing adoption of the smart water meters.

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Lack of availability of the capital funding remains as the major challenge which is hindering the adoption of the smart water meters. Operating costs associated with the smart water metering are also relatively very high. Thus, lot of water utilities are not flush with cash & spend much of their budget on making the network repairs just for the purpose of maintaining status quo.

Most of the housing complexes do not track the consumption of water in apartments. The growing number of the residential buildings & the consequent increase in the water consumption are expected to have a very positive impact on the integration of the smart water meters. The integration or the incorporation of smart meters in residential sector is likely to save or mitigate water consumption by approximate 35%, which is not going to foster efficiency only, but also help the residents manage their bills.

Smart water meter market is highly competitive & consists of several major players. In terms of the market share, few of the major players currently dominate the market. However, the companies are increasing their market presence by securing new contracts and by tapping into new markets.Few major players operating in the market are Sensus USA, Mueller Systems llc, Diehl, Kamstrup and Neptune Technology among others.

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