Shibuya-ku, Tokyo, Japan, Japan, Sep 06, 2021, 02:30 /Comserve / -- The smart water metering market is projected to reach USD 9.6 billion by 2024 from an estimated USD 5.9 billion in 2019, at a CAGR of 10.3% during the forecast period.
COVID-19 has reformed the way we work and has impacted various aspects of the businesses worldwide. Keeping in mind the multi-faceted challenges and the impact on economies post pandemic, companies are focusing on the risks and probabilities for sustainability, growth, and development from this transition.
The smart water metering market is projected to reach USD 9.6 billion by 2024 from an estimated USD 5.9 billion in 2019, at a CAGR of 10.3% during the forecast period. Utilities focusing on reducing nonrevenue water rates is driving the smart water metering market. Further, rising demand for managing water consumption by water-intensive industries is likely to boost the market.
Fill This Form and get the Sample Copy of This Report: https://www.sdki.jp/sample-request-107062
The Final Report will cover the impact analysis of COVID-19 on this industry: Smart Water Metering Market Insights by Latest Trends, CAGR Status, and SWOT Analysis Insights by Regions Global Forecast to 2024
The smart water metering infrastructure is made of 3 components, which are meter & accessories, IT solutions, and communications. The hardware components in the meters & accessories segment comprise devices such as flow meters, end points, encoders, registers, transmitters, radio modules, and antennas. With the innovation of new technologies in IoT and automation sectors, the ultrasonic meters are preferred as they have inbuilt sensors that provide more accurate data.
The water utilities segment dominated the global smart water metering market in 2018, holding a 70% share of the total market size. The water utilities are a core part of the water metering value chain, and the smart water meters can help with various aspects of their operations. The water grid used for the distribution of water is a key part of water utilities infrastructure. Currently, the water utilities are concerned about leakage detection and prevention, which results in large volumes of water loss. Moreover, the water losses lead to excessive bills for the customers and in some cases, significant damage and cost to repair. Furthermore, the utilities are focusing on investments related to updating aged conventional water networks and developing new smart water metering infrastructure. The water utilities around the globe are trying to expand their smart water metering customer base. This is driving the growth of water utilities as a major application segment of the global smart water metering.
Fill This Form and get the Sample Copy of This Report: https://www.sdki.jp/sample-request-107062
The Final Report will cover the impact analysis of COVID-19 on this industry: Smart Water Metering Market Insights by Latest Trends, CAGR Status, and SWOT Analysis Insights by Regions Global Forecast to 2024
The Middle East & Africa is the second fastest growing region in the smart water metering market; it is projected to grow at a CAGR of 10.4% during the forecast period. Since the region faces water scarcity, the governments are focused on reducing water losses and water leakages caused due to poor or faulty water metering infrastructure. Moreover, the Gulf countries are accelerating their smart metering plans to optimize the water consumption, improve water security, and achieve more sustainable management of the available water resources. Such investments are boosting the demand for smart water metering market in the Middle East & Africa.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1– 65%, Tier 2–24%, and Tier 3–11%
By Designation: C-Level–30%, Director Level–25%, and Others–45%
By Region: Asia Pacific–30%, Middle East & Africa–24%, Europe–24%, North America–18%, and South America–4%
Research Coverage:
The report defines, describes, and forecasts the smart water metering market by meter type, technology, component, application, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market, which include the analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the smart water metering market.
TABLE OF CONTENTS
1 INTRODUCTION 16
1.1 OBJECTIVES OF THE STUDY 16
1.2 DEFINITION 16
1.3 MARKET SCOPE 17
1.3.1 MARKET SEGMENTATION 17
1.3.2 REGIONAL SCOPE 17
1.4 YEARS CONSIDERED FOR THE STUDY 18
1.5 CURRENCY 18
1.6 LIMITATION 18
1.7 STAKEHOLDERS 19
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.
For more information, please contact:
Lauren BrownShibuya Data Count
Email: sales@sdki.jp
Tel: + 81 50 50509159
Related Links
https://www.sdki.us/