The smart water meter market is projected to grow at a CAGR of 10.12% during the forecast period. Smart water meter helps customers to monitor their property water flow rates in real time and compare their water usage with the historical data. Minimizing water wastage and increasing need for water preservation are considered as the key drivers for the growth of the market. Moreover technological advancement and rising government initiative to save water also drive the growth of the market. However, the lack of adoption and awareness about the technology is expected to hinder the growth of the smart water meter market.
Rising global water scarcity
Rising development of smart city infrastructure
Availability of low-cost substitutes
In 2016, a water treatment company Xylem agreed to pay US$1.7 billion to buy metering provider Sensus.
In October 2018, Smarterhomes Technologies launched operations in three Southern African countries- Namibia, South Africa, and Botswana.
The major players profiled in the smart water meter market include Master Meters, Badger Meters, Aclara Technologies LLC, Diehl Metering Group, Itron, Kamstrup A/S, Neptune Technology, Landis+GYR, B Meters, Elster Group, and Baylan Water Meters.
The smart water meter market has been analyzed through the following segments:
Middle East and Africa