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The global smart water meter market is expected to reach US$ 3.8 billion in 2025, registering a CAGR of 12.4% during the forecast period 2018 to 2025.
The smart water meter technology is increasing the interest among the water management authorities across the globe owing to varied advantages over the conventional systems. This advanced technology is helping the authorities to gather real-time information on water loss through leakage or illegal tapping, the technology is also becoming vulnerable to cyber-attacks, as the data logged through the integrated loggers are stored or uploaded on cloud or manufacturer designed storage point. Attributing to the new and advanced technology, the cyber-attack personnel or are acquiring the smart water meter technology and getting hold of various software and communication system, aiding them to acquire information about the water management systems over a region. This is a key threat to the water management authorities in securing crucial information.
As per the requirement for real-time data tracking, the water utility management authorities are pressuring the smart water meter manufacturers to integrate the systems with enhanced technologies that would cater the purpose. Owing to the demand for technologically enriched systems, the manufacturers are embedding the systems with enhanced sensors, communication devices, and data platforms, however, these components are susceptible to track and hack by the cyber attackers in order to gather valuable information, in turn, impact adversely on the system. Pertaining to vulnerability to cybercrime, the adoption of smart water meters among the end users in limited, which is impacting negatively on the growth of the market.
The smart water meter market has been segmented on the basis of types into Advanced Metering Infrastructure (AMI), and Automated Meter Reading (AMR). Additionally, the market is also segmented on the basis of components that constitute the smart water meter system. These components include controlling unit; display, storage & integrated software; and others. Residential sector and Industrial sector constitute the end-users segment for the smart water meter market.
The global smart water meter market by geography is segmented into five regions including North America, Europe, Asia Pacific, Middle East & Africa and South America. The key players profiled in the report are Sensus, Neptune Technologies, Badger Meters, Itron, and Aclara Technologies LLC. Also, ARAD Group, DIEHL Metering Group, Elster Group, Kamstrup A/S, and Mueller are other key companies in the smart water meter market.
The report segments the global Smart Water Meter market as follows:
Global Smart Water Meter Market - By Types
Global Smart Water Meter Market - By Components
Global Smart Water Meter Market - By End User
Global Smart Water Meter Market - By Geography
Asia Pacific (APAC)
Middle East and Africa (MEA)
South America (SAM)
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