According to the Graphical Research new growth forecast report titled “Europe Smart Water Meter Market Size By Technology (AMR, AMI), By Application (Residential, Commercial, Utility), By Product (Smart Hot Water Meter, Smart Cold Water Meter) Industry Analysis Report, Regional Outlook (Germany, UK, France, Russia, Italy), Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026” to Record an Exponential CAGR by 2026.
Europe Smart Water Meter Market Growth is anticipated to grow on account of replacement of aging water distribution network along with integration of smart metering technologies. Increasing demand for improved resource utilization devices followed by paradigm shift toward advance metering infrastructure will drive the business scenario. In addition, ongoing technological advancement to integrate cloud based technologies across monitoring and controlling devices will complement the product demand.
Stringent government norms and policies toward reduction of non-revenue water along with minimization of leakages and meter tampering activities will positively influence the industry landscape. In addition, declining IOT based application cost along with increasing focus toward data driven solutions will enhance the product adoption across the commercial establishments. Moreover, ongoing technological advancements to provide improved cloud-based communication between the supplier and consumer will accelerate the technology adoption.
Europe hot smart water meters market will witness significant growth on account of its operational efficiency in extreme weather conditions across the Nordic regions. Flexible product configuration, low power consumption and long range coverage are the major features which will drive the product penetration. In addition, growing hot water storage systems across the Nordic countries will further instigate the deployment of these meters across the region.
Automated meter reading technology will witness growth on account of ease of availability, long communication range and low installation & maintenance cost. In addition, integrated software features including web user interface as well as cloud-based analytics has enhanced the product portfolio. Moreover, real time web based data collection, accurate sensing technology as well as IoT based applications are some eminent factors favoring the AMR technology adoption.
Paradigm shift toward cellular and non-cellular Low Power Wide Area Network (LPWAN) based water meters will instigate the business scenario across the European region. In addition, ongoing mass rollout projects to replace analog meters with advanced metering devices will accelerate the product demand. For instance, Thames water, a private utility company across the UK, in 2017 announced a smart metering program with an aim to roll out 1,000,000 smart AMI meters from 2015 - 2020. Furthermore, favorable government policies toward adoption of IOT based smart water metering solutions coupled with significant rise in investments from private utilities will complement the industry outlook.
Major players operational across the Europe Smart Water Meter Market includes Diehl Metering, ARAD, Itron, Neptune Technology Group, Badger Meter, Sensus, Aclara Technologies, B METERS, Zennner International, Suntront Technology, Kampstrup, Landis+Gyr, Ningbo Water Meter and others. Mergers and acquisitions, new product portfolio and business expansion are the few strategies instigated by the leading manufacturers to gain competitive advantage.