The demand within the global smart water meter market is rising on account of growing focus on water conservation across regional territories. The scanty levels of freshwater reserves across the world has generated a sense of alarm amongst the masses. Several international conferences and conventions have taken water conservation as an important agenda. Furthermore, global leaders have engaged in pragmatic discussion and debate to resolve the water crisis that surrounds the world. Several countries in Africa are feared of running out of ample water resources over the course of the next few decades. Therefore, the global smart water meter market is growing as the need for optimization of water resources gains swing.
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- Climate
experts and environmentalists have predicted unfavourable patterns of
rainfall over the next few years. Moreover, the growing dangers of acid
rain have led conservationists to preserve the existing fresh water
reserves. In this scenario, judicious usage of water across commercial,
industrial, and residential domains has become a necessity. Smart water
meters have emerged as an important technology that can change the way
people consume water for their needs. These meters can help in measuring
the requirements and usage of water across a particular locality during a
given period of time. Smart water meters have been hailed as a central
force that can foster sustainability across the planet.
Ultrasonic meter and electromagnetic
meter technology segments estimated to be highly lucrative
Based on technology, the global smart water meter market has
been divided into ultrasonic meter, electromagnetic meter, and mechanical
meter. The mechanical meter segment has been sub-classified into rotary piston,
single-jet, multi-jet, combination, nutating disk, and woltman. Ultrasonic
meter and electromagnetic meter segments are expected to expand at CAGRs of
15.02% and 14.54%, respectively, during the forecast period. The water meter
technology is changing rapidly and utility companies as well as individuals are
giving preference to ultrasonic and electromagnetic smart water meters. This is
because these meters do not have any moving part, which makes the device
maintenance easy. Furthermore, smart water meters allow significant precision
in meter reading, due to their superior mechanism. Additionally, these meters
are low at production cost and they use the existing
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Two-way meter segment
projected to expand at a rapid pace
In terms of meter type, the smart water meter market has
been segmented into one-way meter and two-way meter. One-way smart water meters
allow one-sided communication that allows the user to get the meter reading
remotely with the help of drive-by and walk-by methods. One-way smart water
meters are based on the AMR (automatic meter reading) system. However, AMR-system-based
one-way smart water meters are older-technology products and they are rapidly
getting replaced by two-way smart water meters based on the AMI (advanced
metering infrastructure) system. Two-way smart water meters offer two-way
communication and several other benefits over one-way smart water meters. Along
with the capability of remotely collecting the meter reading, they also allow
users to get notifications pertaining to the smart water meter battery as well
as any kind of water meter malfunction. Moreover, users can send instructions
to smart water meters.
The development of smart cities across leading countries and
territories has given an impetus to the sale of smart water meters. These
meters are a part of the robust, succinct, and globally accepted ecosystem that
surrounds a smart city. Smart water meters can function in sync with several
other technologies such as smart electric meters. The ability of municipal
bodies to gather insights about water usage across a locality shall play a vital
role in driving demand within the market.
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