The global smart water meter market was valued at $839.6 million in 2015 and is expected to witness a CAGR of 11.1% during 2016 – 2025. Positive displacement smart water meters contributed the largest share to the global market in 2015. The global smart water meter market is growing with double digit CAGR owing to increasing demand for optimal use of water. The non-revenue water is one of the major challenges for the water utilities as well as governments. The surging water crisis further elevates the demand for a sustainable solution towards water management.
Smart metering enables a consumer to effectively utilize their meter as it increases their accessibility in several ways. The consumers can read their meter on demand. This facilitates the consumer to get the reading on effective date of change in premises. Smart metering has quick response for a given command as compared to traditional dumb meters, which also facilitates easy billing. Such advantages facilitates improved service incentive mechanism (SIM) score for a given water provider. The smart water meters also saves the cost of water utilities associated with manual checking of meter by the personnel visiting the consumer premises. These benefits associated with smart meters have been driving its market.
The water companies in the U.K. have been experiencing losses of around 27% of the treated water due to inaccurate water network. This is driving them to replace their traditional water meters with the smart water meters. Thames Water Utilities in the U.K. has been aggressively investing in smart water meters. In the U.S., Rogers Water Utilities (RWU) is planning to completely replace its existing water meters with smart water meters by 2021. The Keystone Utility Systems in the U.S. through a contract with Sammamish Plateau Water is expected to install around 18,000 smart meters in the country by late 2016. According to the information from Smart Water Summit, around 80% of the water utilities in the U.S. have included the up gradation and repairs of their water infrastructure in their capital plans.
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.
News Courtesy: P&S Market Research