23 September 2019
Smart Water Metering Market Report 2019-2029: Forecasts by Meter Type (Electromagnetic, Ultrasonic, Mechanical), Technology (AMI, AMR), Component (Meters & Accessories, IT Solutions, Communications), Application (Water Utilities, Industries), by Region and Analysis of Leading Companies indicates that the Global Smart Water Metering Market was valued at $11.2 billion by 2029.
With mounting pressure on water services owing to increasing demand, increasing water stress, rising power prices, and aging water systems, intelligent water network solutions have appeared with important advantages by combining sophisticated metering technology, software, and efficient communications technologies. Integrating the said components allows end consumers to account for each drop and turn water into income through improved detection of leakage and unparalleled data acquisition.
Adopting strict laws for tracking the water distribution network combined with increasing requirements for precise allocation of resources will increase the penetration of smart water metering industry. Increasing investment in infrastructure growth directed at providing proactive services and a streamlined water supply process will increase these systems ' installation.
Because of its capacity to optimize the bill generation process and reduce labor costs, AMI smart water metering market is expected to witness robust development. Some of the major advantages that the installation of these units provides include optimized design, high reliability, and long battery life. Low installation expenses, inexpensive maintenance and simple accessibility are few eminent considerations that favor the use of automated meter reading technology.
Water scarcity in the West, along with aging infrastructure in the Mid-West and East areas, has helped foster the need to address effective remote meter measurements that can contribute to income generation and customer service improvement.
In addition, decreased leakage and effective water use are also significant drivers for the market for smart water meters. The utility base is in harmony with the smart meter technology as North America is a more developed market and is beginning to introduce sophisticated information solutions.
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