The smart water meters market is gaining a positive traction and constant R&D adds more to the scope. There is a lot of potential for sales due to augmented demand and that factors that push the higher sales figure are data breach and the need for a sustainable alternative in the market. Whether, its infrastructure or just a segmental use, deployment of smart water meters has proved a boon in the international market.
The market is driven by adopting to SMART technologies in order to empower water supply techniques and channelize water consumption patterns. Water supply management being a sensitive issue across the world, SMART options for water management are been looked upon at present. However, significant costs, low awareness and high investments for technological setup are likely to create challenges in the market.
Technological aspects prevalent under smart water meters market comprise automatic meter reading and advanced meter infrastructure. The components existing under smart water meter market include installers, data & network management organizations and manufacturers. Data & management organizations account for a greater market share owing to presence of sustainable alternatives. End-users in the smart water meters market include commercial users and water utilities.
North America is a dominant market place for smart water meters due to the technological advances and adoption to SMART technologies and significant use of data capturing devices. Substantial investment made by major players coupled with presence of the local governing bodies engaged in welfare of citizens contributes to the growth of U.S. market. Europe market follows the trend as the region witness rise in population and rising demand for efficient technologies.
Asia-Pacific regions are expected to grow at a robust rate owing to inclination towards use of SMART technology and proliferation of IoT contributes to the market growth in the near future. MEA market is a developing market with significant potential for SMART technology. The population is now adopting to modernization methods of data collection.
Prominent players profiled in the smart water meters market include Aclara Technologies LLC, Arad Ltd and Arqiva Ltd, Badger Meter, Elster Group, Landis+Gyr, Silver Spring Networks, Datamatic Inc, Diehl Metering GmbH, Neptune Technology Group Inc,