Global Smart Water Meter Market Estimated
to Gain
$6974.22 Million in Revenue by 2028
According to Triton’s report, the global smart water meter market, which attained $4136.24 million in 2021, is expected to register progress at 7.65% of CAGR by 2028.
A recent study by Triton Market Research titled ‘Global Smart Water Meter Market’ includes the Global Analysis and Forecasts by End-user (Commercial & Industrial, Residential), Technology (Advanced Metering Infrastructure, Automatic Meter Reading), and Geography (Latin America, North America, Europe, Asia-Pacific, and the Middle East and Africa).
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Smart water meters help utilities drive down NRW by providing more resources to waterstressed areas.
According to Triton’s Market Research, the global smart water meter market is set to advance at a CAGR of 7.65% over the forecast years from 2022 to 2028, attaining revenue worth $6974.22 million by 2028.
With the advent of smart city plans and government support, the smart water meter market is propelling significantly. The deployment of smart water meter technology helps utilities effectively manage their water network. Moreover, they allow water utilities to address water concerns from top to bottom, resulting in higher efficiency. Besides, governments across the globe are funding to establish new smart cities or convert existing ones into smart cities. Thus, these factors are boosting the growth of the smart water meter market.
However, limited budget allocation for smart systems, higher cost of smart water meter installation, and operational issues impede the market’s growth process.
The smart water meter is bifurcated into technology and end-user. The technology section is divided into advanced metering infrastructure and automatic meter reading. On the other hand, the end-user segment is categorized into commercial & industrial and residential.
North America dominates the smart water meter market and is expected to lead over the forthcoming years. Its growth is credited to the growing market for AMI-based smart metering and associated data analytics solutions that help utilities remotely shut off valves, detect leaks, and receive intelligent alerts for prompt action. Moreover, the region holds the largest base for smart meter technology, thus helping overcome the financial, environmental, technological, and organizational challenges of water utilities.
Master Meter Inc (Acquired by Arad Ltd), Zenner International GmbH & Co KG, Datamatic Inc, Elster Group GmbH, Kamstrup AS, Mueller Water Products Inc, Landia GYR AG, Aclara Technologies LLC (Acquired by Hubbell Incorporated), Arad Group, Diehl Stiftung & Co KG, Sensus USA Inc (Acquired by Xylem), Neptune Technology Group Inc, ICSA (India) Limited, Itron Inc, and Badger Meter Inc are the leading companies listed in the smart water meter market.
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Question & Answer: Smart Water Meter Market
Question 1: What factors are boosting the growth of the smart water meter market?
Answer: With the advent of smart city plans and government support, the smart water meter market is propelling significantly. The deployment of smart water meter technology helps utilities effectively manage their water network. Moreover, they allow water utilities to address water concerns from top to bottom, resulting in higher efficiency. Besides, governments across the globe are funding to establish new smart cities or convert existing ones into smart cities. Thus, these factors are boosting the growth of the smart water meter market.
Question 2: What factors impede the smart water meter market’s growth process?
Answer: The limited budget allocation for smart systems, higher cost of smart water meter installation, and operational issues impede the market’s growth process.
Question 3: Which region dominates the global smart water meter market?
Answer: North America dominates the smart water meter market and is expected to lead over the forthcoming years. Its growth is credited to the growing market for AMI-based smart metering and associated data analytics solutions that help utilities remotely shut off valves, detect leaks, and receive intelligent alerts for prompt action. Moreover, the region holds the largest base for smart meter technology, thus helping overcome the financial, environmental, technological, and organizational challenges of water utilities.
Question 4: What are the leading companies listed in the smart water meter market?
Answer: Master Meter Inc (Acquired by Arad Ltd), Zenner International GmbH & Co KG, Datamatic Inc, Elster Group GmbH, Kamstrup AS, Mueller Water Products Inc, Landia GYR AG, Aclara Technologies LLC (Acquired by Hubbell Incorporated), Arad Group, Diehl Stiftung & Co KG, Sensus USA Inc (Acquired by Xylem), Neptune Technology Group Inc, ICSA (India) Limited, Itron Inc, and Badger Meter Inc are the leading companies listed in the smart water meter market.
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PH Sensors & Analyzers Market
The global pH sensors & analyzers market is anticipated to grow in value over the forecasted period of 2022 to 2028 at a CAGR of 8.15%. It is likely to gain $1939.50 million worth of revenue by 2028.
PH sensors and analyzers are crucial across various industries, especially sectors that manufacture and process liquids, chemicals, etc. They use pH sensors to find the fluids’ pH value, which helps assess the quality of liquid and water used.
The pH sensors & analyzers market is driven by technological innovations and the growing adoption of digitalization in analytics methods. Also, the increased in-line and online analyzers capable of communicating with wireless electrodes and cloud-based applications are boosting the demand for advanced pH sensors and analyzers.
Additionally, the market is presented with profitable opportunities owing to the rise in strategic collaborations among vendors. However, the market’s growth is hindered due to a lack of compatibility, less acceptability, awareness, and unjust quality of these sensors.
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