Smart Water Metering Market expected to grow significantly to 2024
Date: 2018-08-16   Author: Ronak Bora  Category: #market

Smart Water Metering Market expected to grow significantly to 2024

The Smart Water Metering Market is set to grow from its current market value of more than $900 million to over $3 billion by 2024; according to a new research report by Global Market Insights, Inc.

Implementation of favorable government policies and rollout programs toward the adoption of intelligent systems will boost the smart water metering market. Initiatives focusing on effective water monitoring and conservation will further propel the industry landscape. For instance, the European Union in collaboration with the International Monetary Fund announced a mandatory rollout of smart water meters in Ireland.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/697

Increasing measures toward water security and monitoring of Non-Revenue Water (NRW) will enhance the smart water metering market. Increasing urbanization, ageing distribution mains and rising energy cost will further provide a stimulus to the industry outlook.  According to the World Bank, 32 billion cubic meters of treated water is lost through leakages in distribution network worldwide. An additional 16 billion cubic meters is supplied annually but not charged due to poor metering, inappropriate billing and thefts.

U.S. smart water metering market is projected to expand over 6% by 2024. Ongoing water conservation reforms coupled with government funding toward installation of smart grid technologies will positively drive the product adoption. In 2013, the U.S. Department of Energy and the Smart Grid Investment Grant (SGIG) mutually sponsored the installation of smart grid infrastructure in the nation and provided a federal financial assistance of over USD 8 billion in 99 ventures.

AMI smart water metering market is predicted to grow over 28% by 2024. The use of AMI systems is attributed to quick detection of water leakages, reduction in water wastage and improved water supply. These systems offer advanced capabilities in data analysis and operations.

Rising demand for effective management, monitoring, and utilization of water will fuel the smart water metering market. Global initiatives toward water conservation and measures to address water scarcity will further propel the business landscape. In 2015, the U.S. average water consumption has witnessed significant drop owing to growing water conservation concerns across various states in the country.

Browse Full Report @ https://www.gminsights.com/industry-analysis/smart-water-metering-market

Growing measures toward effective mapping of water distribution coupled with regulatory regimes to limit non-revenue water loss will complement the Europe smart water metering market. Increasing administrative emphasis toward the development of high performance advanced systems will further embellish the industry growth.

Ongoing technological advancement to develop effective and precise metering technologies will boost the commercial smart water metering market. Rising concerns relating to reduction of water wastage and water scarcity will further facilitate the product adoption.

Notable players operating in the industry comprise of Landis+GYR, Badger Meter, Itron, Siemens, Arad Group, Schneider Electric, Sensus Sentec, Neptune, Kamstrup, Elster Group, Diehl Metering and Honeywell International.



About Author


Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for AlgosOnline and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport.

...

Read More

More from Ronak


Post Recommendents

IT giant Cognizant acquires Dublin-based fintech firm Meritsoft
Author: Ojaswita Kutepatil

The company with this acquisition will leverage Meritsoft’s know-how to help clients transform business for the digital era.

American IT conglomerate, Cogni...


Hops material segment of Non-Alcoholic Wine and Beer Market will witness CAGR over 8% by 2024
Author: Rahul Sankrityayan

Shifting consumer preferences towards healthier alternatives is among the key factor propelling the non-alcoholic wine and beer market size. Factors such as religious restrictions, rising consumer spending across developing countries along with fa...


Matcha market from personal care & cosmetic application will witness 3.5% by 2024
Author: Rahul Sankrityayan

Rising consumption rates along with increasing health awareness of nutritious food & beverages will propel matcha demand. This rise in demand can be attributed to its nutritional benefits, unique flavor and texture along with its extreme versa...