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Global Smart Water Meter Market to Grow at a CAGR of 19% During 2021-2026, Aided by Water Conservation Concerns

According to a new report by EMR titled, ‘Global Smart Water Meter Market Report and Forecast 2021-2026’, the global smart water meter industry is expected to grow at a CAGR of about 19% in the forecast period of 2021-2026 to reach a volume of around 82 million units by 2026.

Smart water meters have seen a definite rise across all regions in the historical period of 2016-2020 and with increasing need for regulation of natural resources, there is also a rising demand for smart water meters. This has been especially seen in North America, where the awareness for water conservation and resource management has been high. As more and more governments continue to push for greener initiatives and smart cities, the popularity for smart water meters is going to rise. In the Asia Pacific region, where the population is growing, it is expected that the demand for smart water meters will be on the rise, especially in the residential sector.

Xylem Inc (NYSE: XYL) is a major player in the market which acquired Sensus, another corporation in the same field in the historical period 2016-2020 and has also invested in wastewater treatment process technology in Africa. Similarly, other companies in this market are also expected to rise in value and across different markets.

Market Analysis by Type, Water Type, Technology, Component, Application, and Region:

  • The market on the basis of type can be divided into electromagnetic meter, ultrasonic meter, and mechanical meter, amongst others.
  • Based on water type, the industry can be divided into hot water meter and cold water meter.
  • The technologies for smart water meters include AMR and advanced meter infrastructure (AMI).
  • The components for smart water meters include meters and accessories, IT solutions, and communications.
  • Based on application, the industry can be divided into water utilities and industries, amongst others. 
  • The regional markets for smart water Meter include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • Smart water meters can be used to save water, due to the early detection of cracks or defects in the system, which will increase their demand in regions with water scarcity. 
  • Their automatic billing systems and fault detection mechanism eliminates human intervention, making them a good choice in remote regions. 
  • The lack of wear and tear in ultrasound and electromagnetic meters can improve the overall lifespan of these systems, improving their demand across all regions.
  • Rising incomes, increasing populations, and improved industrial infrastructure is expected to give an impetus to the industry.

Key Offerings of the Report:

  • The EMR report gives an overview of the global smart water meter market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the type, water type, technology, component, application, and region of smart water meter.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global smart water meter industry are Xylem Inc., Aichi Tokei Denki Co. Ltd., Kamstrup A/S, Diehl Stiftung & Co. KG, Hubbell Incorporated, and Landis+Gyr AG, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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