smart water meter unit shipments were 16.578 million units in 2020, CAGR of 9.7%
Market overview:
The worldwide smart water meter market is relied upon to encounter critical development during the figuretime frame because of developing interest for energy reserve funds and expandedgovernment drives for feasible turn of events. These smart meters fill in aswater spill indicators and make it a lot simpler to screen and diminish spills.The expanding need for water protection and decreasing water squander should beanimating the development of the business.
Recent developments:
Research andglobal analysis of customer data shows that communities that have implemented individualmeters have reduced their total water use by 35%. In addition, they also saveon energy costs as less water is pumped into overhead distribution tanks thanbefore. Lower consumption also means less wastewater, which translates intosavings on many levels.
Market Drivers and Restrains:
Be that as it may, theabsence of acknowledgment because of the great establishment cost included isrelied upon to challenge market development during the figure time frame.Factors, for example, rare meter perusing and restricted far off detectingwater meter transfer speed are probably going to hamper the development of thebusiness. Economical water estimating drives and expanded public spending arerelied upon to drive interest for smart water meters throughout the followingseven years. The developing business interest for the utilization of smartwater meters with two-way correspondence is relied upon to add to thedevelopment of the business. The advantages these meters offer, for example,time-base synchronized meter readings and framework monitoring and control, areaccepted to contribute fundamentally to the development of the market.Moreover, these bi-directional frameworks permit clients to keep a foundationthat assists with estimating water and screen the pressing factor and nature ofthe framework.
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Report is segmented as:
By Technology:
· AMR
· AMI
By Application:
· Residential
· Commercial
· Utility
Geographical Segmentation:
Factors such as rapideconomic development, industrial effluents, and increased pollutants are at theroot of many environmental concerns in Japan. For example, the quality of thewater in the fountain has deteriorated to the point that the tap water hasacquired a bad odor. Since then, the Ministry of Health, Labor and Welfare hasimplemented various advanced technologies for the treatment and management ofwater. Water shortages in the West, along with outdated infrastructure in theMidwest and East regions, have helped promote the need to address efficient remotemeter readings that can help generate revenue and improve service to consumers.
Impact of COVID-19 on Smart Water Meter Market:
COVID-19 can affect theglobal economy in three main ways: directly affecting production and demand,creating market and supply chain disruptions, and through its financial impacton businesses and financial markets.
Key market players:
The key players projected to propelthe smart water meter market over the next seven years include Shenzhen StarInstrument Co. Ltd., FECOSAN S.L., DH Metering Europe, Ningbo Water Meter Co.Ltd., Powercom Ltd., Electronic Equipment Pvt. Ltd., Carlon Meter Co. Inc.,Baylan Water Meters, MFB di Bonomi Eliseo & C. Snc, and Elster AMCO WaterLLC.
