Global Smart Water Metering Market Forecast 2017-2025
KEY FINDINGS Global Smart water metering market is anticipated to increase at an approximate CAGR of 7.13% over the forecast years of 2017-2025. The market is increasingly being influenced by factors such as the impact of growing population, need to monitor and control non-revenue water, evolving sustainable water management solutions, need for minimizing human error and superior customer engagement. MARKET INSIGHTS The global smart water metering market is segmented based on technology, components, and application. The technology segment is further divided into AMI and AMR. The component segment includes smart meters, assessment and pipeline monitoring and leakage management. The application for this market can be observed for residential areas and commercial and industrial buildings. REGIONAL INSIGHTS Geographically, the global smart water metering market encompasses the regions of Asia-Pacific, Europe, North America and rest of the world. Of these, the North American market accounted for a major share in 2016. Having said that, it is the European region that is expected to dominate the market by the end of the forecast period. The evolving real-time monitoring of the water distribution network influencing the business is a major factor for the proactive nature of the utilities in this region. COMPETITIVE INSIGHTS Product launch is a crucial strategy adopted by the market players to gain an edge in the market. The companies are also engaging in mergers and acquisitions. For instance, Itron Inc. announced in May 2017 that it had signed an agreement to privately acquire Comverge by purchasing its parent company, Peak Holding Corp for approximately $100 million. Some of the other leading players in the market include Elster Gmbh, Datamatic Inc, Osaki Electric Co Ltd, Landis+Gyr Ag, Icsa (India) Limited, Honeywell International Inc, Schneider Electric Se, Iskraemeco, Kamstrup A/S, Master Meter Inc, Neptune Technology Group Inc, Aclara Technologies Llc, Badger Meter Inc and Siemens Ag.