FELTON, California, March 5, 2018 /PRNewswire/ --
The global smart water grid market is expected to reach USD 10.27 billion by 2025, driven by a growing emphasis towards a reduction in non-revenue water, the necessity for accurate billing, restructuring of old infrastructure, instantaneous monitoring of the grid, efficient fixing of leaks, and improved client engagement. Furthermore, the need to conform to government regulations, expectations for increased safety and reliability with reduced cost and development of smart cities have been the driving forces for the smart water grid market.
North America dominated the market in 2016 due to the advancement of the IT sector, which plays an integral part of these networks. Advancement in technology has helped various factors such as water safety, managing severe weather conditions and valuation of consumption. Europe followed suit, with an expected contribution of USD 2.96 billion by 2025 due to the increase in adoption of smart water meter compliances for better management.
Asia Pacific is anticipated to witness the fastest growth over the forecast period on account of increase in production and sales of advanced metering infrastructure. Metering infrastructure is getting a boost from the increasing demand for meters transmitting information through an accessible network.
Fixed Radio Frequency (RF), Power Line Communications (PLC), Broadband over Power Line (BPL), and other municipal grids such as cellular or landline networks are combined with the right metering software to derive accurate data. The data is received by Meter Data Management System (MDMS) that is accountable for the statistics of the water analysis and distribution as per the readings.
Browse full research report with TOC on "Smart Water Grid Market Size And Forecast, By Technology (Smart Infrastructure, Control & Automation, ICT & Analytical Software, Design & Engineering), By Application (Residential, Commercial, Utility), And Trend Analysis, 2014 - 2025" at: https://www.hexaresearch.com/research-report/smart-water-grid-market
The smart water grid industry is expected to grow on account of increasing demand for information about usage that allows preservation of resources and saves money. Smart Infrastructure held the largest market share accounting for 41.5% in 2016 and is expected to witness steady growth on account of increasing number of smart water grids, particularly in emerging economies of the world.
Companies are investing extensively in R&D to enhance technology. Companies have zero dependence on the government bodies due to suitable initiatives for substituting energy systems to grow. Players in the market such as Itron Inc., Siemens AG, Badger Meter, Inc, and Neptune Technology are investing heavily in the smart water grid market.
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Hexa Research has segmented the global smart water grid market report based on technology, type and region:
Segmentation by technology, 2014 - 2025 (USD Million)
- Smart Infrastructure
- Control & Automation
- ICT & Analytical Software
- Engineering & Design
Segmentation by type, 2014 - 2025 (USD Million)
Segmentation by region, 2014 - 2025 (USD Million)
- North America
- Asia Pacific
- Middle East & Africa
- Saudi Arabia
- Central and South America
Key players analyzed:
- Itron Inc
- Siemens AG
- Badger Meter, Inc
- Neptune Technology
- Sensus Sentec
- Schneider Electric
- Diehl Stiftung & Co. KG
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SOURCE Hexa Research