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Smart water metering market to top $5.5bn by 2021

DUBAI, October 18, 2016

The smart water metering market is expected to grow from an estimated $3.88 billion in 2016 to $5.51 billion by 2021, at a compound annual growth rate (CAGR) of 7.23 per cent, according to a report.

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, added the report titled “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”, from MarketsandMarkets, a top business research firm.

Dominant players are trying to penetrate developing economies and are adopting various methods to grab the market share, it said.

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.

Meters and accessories will be the dominant component-based segment in the global smart water metering market, said the report.

The smart water metering market in this report has been classified based on components into three segments, namely, meters and accessories, communication, and IT solution.

The meters and 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, added the report.

The Automatic Meter Reading (AMR) segment would dominate the global smart water metering market

The 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, it added. – TradeArabia News Service




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