The global smart water market is expected to grow with double digit CAGR during 2016 – 2025. North America had the largest contribution in the global smart water meter market during the historical period (2012 – 2015).
The global smart water market is expected to grow with double digit CAGR during 2016 – 2025. North America had the largest contribution in the global smart water meter market during the historical period (2012 – 2015). The smart water meter market is being driven by several factors such as increased accessibility of consumers and water utilities, minimization of non-revenue water, growing interest of water utilizes towards installation of smart water meters and government support.
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Non-revenue water (NRW) is usable water that is lost before reaching to the consumer. The losses can be in the form of leaks, thefts or metering inaccuracies. In developed countries, the NRW accounts for around 20% in the total water produced, whereas in the developing countries around 50% of the total water produced is lost. Smart water meters help in detecting the leakages in the water network, thus minimizing the loss of non-revenue water. Water being one of the necessary resources, the increasing amount of non-revenue water has been a major concern for government and water utilities. Several governments have been encouraging the installation and use of smart meters in order to reduce the NRW. This emerges as another important driver for the smart metering market.
The governments across several countries have started to develop programs to minimize water loss. The European countries are forerunners in such initiatives. The Water Framework Directive (WFD) in Europe is one of the legislations targeted to minimize the operational costs of water companies. This is driving the smart water meter market, especially in England and Wales. Several countries including Belgium, Netherlands, Malta, Kuwait and Bahrain import huge amount of water, which impels the governments in these countries to deploy smart water management solutions. The Ontario Energy Board in Canada replaced several traditional water meters with the smart water meters during 2007 – 2012.
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Some of the key players operating in the global smart water meter market include Badger Meter, Itron, Landis+Gyr, Elster Group, Kamstrup, Aclara Technologies, Sensus, Neptune, Diehl and Acquiba.
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Feb 08, 2017
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