Global smart water metering industry size is projected to record over 23% CAGR through 2028. Governments across emerging economies are unveiling supportive initiatives to encourage industries and cities to upgrade their water distribution networks and use smart water metering systems. For example, the Government of India has recently introduced schemes which will boost the demand for these products in the region.
Smart water meters are becoming popular in residential and commercial applications as the components can closely track the overall water consumption and prevent wastage. Advanced technologies are being introduced in these meters to increase their accuracy and expand their applications in other areas as well.
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Growing use of smart water meters in residential areas:
Residential smart water meters will capture a major share of the global market by 2028 due to growing penetration of advanced technologies like IoT. Water authorities are increasing their preference for IoT-powered smart water metering systems to facilitate efficient water management.
Most of the gated communities and residential apartments are installing smart water meters or an advanced metering infrastructure (AMI) to create a communication network between the platform hub and meters. This network sends vital data to the residents so that there is a higher transparency in generating accurate water bills. Many such advantages will fuel the deployment of residential smart water meters.
AMI technology will be integrated into smart water meters:
Global smart water metering industry size from advanced metering infrastructure (AMI) technology will record a notable growth due to the growing demand for upgrading water meters to improve their performance. AMI uses a combination of communications, equipment, and information management systems to record data with respect to a customer’s total water usage on a real-time basis. This technology prevents the need to manually read meters, thereby enhancing the accuracy of water bills.
There are many benefits of using AMI meters, such as detection of leakages, enhanced water conservation, improved utility operations, and higher security & resilience. Additionally, AMI solutions are scalable, which can encourage companies to use them in stages, depending on their needs and budgets.
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Cold smart water meters will gain traction:
Cold smart water meters will be highly demanded by end-users across the MEA region over the coming years as there is a robust need for measuring the water consumption rate in areas that use maximum amount of this resource. The machines can give accurate pointers to residential and commercial customers about the reasons for high water bills and help them explore various ways to use water more judiciously.
Cold water meters are useful for residential supply where water temperatures are near 30 degrees Celsius. Owing to the climatic conditions in most parts of the Middle East and Africa, cold water consumption is high. With region witnessing a higher environmental warming rate as compared to some other areas of the world, supply and consumption of cold water across households will surge at a significant rate, fueling the deployment of suitable water metering solutions.
Global smart water metering market share will grow at a promising rate over the coming years due to the rising presence of prominent companies, such as Landsys + Gyr, Sensus, Kamstrup, Itron, and Badger Meter, among others.
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