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Global Smart Water Meters Industry

Global Smart Water Meters Industry

  • September 2020
  • 389 pages
  • ID: 3646041
  • Format: PDF
  • Global Industry Analysts

Summary

Table of Contents

MARKET IMPACT SURVEY - COVID-19 & LOOMING RECESSION

Timely market intelligence is paramount in these uncertain times!

We launched an impact survey to update this project with timely insights during 2020. Update frequency will depend upon evolving market conditions and executive opinions. Our participants are executives driving strategy, marketing, sales and product management at competitive companies worldwide. All updates during the rest of the year are complimentary to clients!

As the World Addresses Water Crisis as an Urgent Security Issue, Smart Water Meters Will Reach $4.9 Billion

The global market for Smart Water Meters is expected to reach US$4.9 billion by the year 2027, trailing a post COVID-19 CAGR of 7.7% over the analysis period 2020 to 2027. The world is heading towards a water crisis with 25% of the population already facing acute shortages. Smart water management & usage is the only way to avoid the risk of global drought by the year 2040. Water losses from service pipes during distribution accounts for over 32% of the total flow in the system. Water wastages in the absence of consumption based billing are found to be as high 68%. Smart water meters help empower utilities & consumers to improve overall efficiency, reduce wastage, average billing and save cost with minimal human intervention. Smart water meters are electronic devices used mostly by public water utilities for the purpose of reading and measuring water consumption from remote locations. The major functions of smart water meters include electronic and automatic capture, collection as well as communication of meter readings pertaining to water consumption, in the real-time. The information captured by smart meters is in the form of electronic signals which are processed for obtaining the required data using computing technology. The captured signals are logged as well as processed in computers, and detailed analysis is used by water utilities and also uploaded onto a website for the purpose of consumer viewing.

Smart water meters download the data pertaining to water consumption, onto a service which can be accessed at all times by all parties involved. Smart water meters in this way communicate with consumers, facility authorities and utility managers offering each party their required information at all times. Smart water meters help in early detections of leakages and enable utilities to supply customers with the necessary information required for offering correct water rates and reducing water usage. While old analog water meters need the services of trained local utility personnel for getting the reading, smart water meters enable reductions in costs of meter reading and enhance accuracy in billing ultimately resulting in improved profits for utilities. Detection of thefts and outages and initiation of virtual turn off and on of water is also made simple by smart water meters. Owing to these advantages the global installed base of smart water meters integrated making use of advanced metering infrastructure is increasing rapidly worldwide. Water distribution networks, similar to other systems or networks, need personnel, operation and maintenance. The utilities track industrial and residential usage via water meters that could be located outside or inside the building. Legacy meters can be retrofitted with the transceivers or be replaced with the meters using attached transceivers.

As with most sectors, COVID-19 pandemic has also impacted water utilities, putting pressure on the utilities to maintain supply of safe and cleaning drinking water to consumers. With economic disruption and rising unemployment levels being witnessed around the world due to the COVID-19 outbreak, utilities are facing tremendous financial stress resulting in budget reductions and layoffs. Though federal stimulus packages are offering some respite to utilities looking to invest into infrastructure development projects, incomes of utilities are likely to be affected. Since charges to customers comprises a major source of revenue for utilities, the decline in water consumption in commercial and industrial facilities due to fall in economic activity will impact revenue generation for water utilities. However, the revenues from residential customers remains relatively unaffected, as customers locked-in their homes are consuming more water. Decline in revenues will also be due to reduced income taxes, sales taxes, property taxes and capital gains taxes for utilities. Amidst the COVID-19 outbreak, water usage has increased considerably due to the growing importance of hand washing and hygiene measures for preventing spread of the virus. While non-payment of water bills in the past led to disconnection of services, scenario is different during COVID-19 with utilities deciding to not turn-off water connections of customers due to non-payment or delays in payments. Water utilities especially in developed economies are facing the challenges due to the aging infrastructure facilities, which are adding to the utility budgets. Against the backdrop of such financial difficulties confronting the water utilities, the emphasis on precise measurement of water being delivered to customers offers considerable opportunity for utilities to generate added revenues. Water meters are used for measuring the water being delivered to customers. By ensuring proper maintenance of water meters, there is potential for utilities to increase revenues by at least 10%. In particular, the digitalization trend and the move towards smart water meters offers significant advantages to utilities by improving operational efficiency, ensuring employee safety, improving productivity, and increasing revenues. Through accurate measurement of water consumed by users, smart water meters contribute to improvement in revenues for the utility. Digital tools such as smart meters are becoming essential for utilities in water management.

Competitors identified in this market include, among others,
  • Aclara Technologies LLC
  • Aquiba Pty Ltd.
  • Arad Group
  • Arqiva Limited
  • B METERS s.r.l.
  • Badger Meter, Inc.
  • CyanConnode Holdings Plc
  • Diehl Metering GmbH
  • Elster Group SE
  • Iskraemeco, d.d.
  • Itron, Inc.
  • Kamstrup A/S
  • Mueller Water Products, Inc.
  • Neptune Technology Group Inc.
  • Ningbo Water Meter Co., Ltd.
  • Silver Spring Networks, Inc.
  • Tantalus Systems Corp.
  • Xylem Inc.
  • Zhejiang Holley Liyuan Metering Co., Ltd.

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