Water Meter Market
Water meter is a device utilized to measure the volume of water used in residential and commercial buildings supplied with water systems. Water meters have different sizes and shapes depending upon the volume of water passing through the pipe. Smart water meters are the advanced water meters provided with communication capabilities which is used to send readings directly to the supplier. Smart water minimizes the requirement of manual meter reading and send reading to the supplier for billing purposes. Water meters also find applications at the water system which is used to determine flow through a particular region of the system. Conventional water meters do not provide communication capabilities, hence manual readings are required to be taken. Moreover, smart meters possess communication capabilities which is used to provide water consumption readings directly to the supplier through a secure communication network.
Market Dynamics
Rapid urbanization and water scarcity enforced water utilities to adopt smart solutions that will increase efficiency and optimization. Smart water provides utilities recover costs, sustain water infrastructure, ensure optimized distribution, reduce wastage, improve system and resource efficiency, and provide customers with accurate and secure billing. Smart communication solutions such as LPWAN networks, cloud-based data analytics and software solutions are expected to drive the growth of this market. LPWAN has provided with automated meter reading (AMR) and automated metering infrastructure (AMI). Automated meter reading provides one-way communication between the meter and the water utility and also automated metering infrastructure provides two way communication between the meter and the water utility.
According to UN-Water, the United Nations inter-agency coordination mechanism for all freshwater-related issues, including sanitation, by 2025 around 1.8 billion people around the world will be living in regions with absolute water scarcity and approximately two-thirds of the global population is expected to be under stress conditions. In order to avoid these situations, numerous programs have been undertaken at global level such as the UN’s Water for Life Decade 2005-2015 and the United Nations Educational, Scientific and Cultural Organization’s (UNESCO) World Water Assessment Programme (WWAP). Hence, these factors are expected to boost the global water meter market growth during the forecast period.
Market Taxonomy
This report segments the global water meter market on the basis of by type, by application, and region. On the basis of type, global water meter market is segmented into rotary piston, single jet, multi jet, woltman, combination, electromagnetic, ultrasonic. On the basis of application, the water meter market is segmented into residential, commercial and industrial. On the basis of region, global water meter market is segmented into North America, Latin America, Europe, APAC, Middle East and Africa.
Key features of the study:
Detailed Segmentation:
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Table of Contents
*Browse market data tables and figures on “Global Water Meter Market-forecast to 2027”.
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