NORTH AMERICA SMART WATER METER MARKET 2022-2028

Triton Market Research, in its report, has concluded that the smart water meter market in North America is likely to grow with a CAGR of 6.84% in the estimated period 2022-2028.

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The countries evaluated in this region include:

•         The United States

•         Canada

Canada is expected to witness the fastest growth in this region. In North America, the development of smart cities, the need to comply with stringent government norms, and the development of water infrastructure are driving the studied market. Here, water utilities as well as regulatory authorities proactively encourage adopting smart technology solutions to streamline operations.

Water management solutions, such as AMR and AMI water meters, integrated with ICT are adopted by utilities to manage distribution networks and assets. Moreover, utilities have shown a keen interest in creating awareness about environmental conservation and rational use of resources.

The Washington Municipal Utilities (WMU) completed its advanced metering infrastructure installation project in Indiana, which it began in 2010. According to estimates, the WMU saved more than $4.5 million by replacing nearly 12,700 electric & water meters with smart meters. In addition, companies in the country are regularly investing in the manufacture of smart water meters, to meet the rising demand for these products. Such developments are driving the smart water market growth in the US.

In December 2017, the Public Utilities Commission in Ontario, Canada, assigned the project to upgrade its analog meters with smart water meters to Neptune Technology. The municipality is also working to implement its $10 million project to replace the 36,000 analog meters with smart water meters. Further, in 2019, Sadbury’s city council announced allotting a fund of $ 17 million for staff to replace 48,000 meter units with automated metering infrastructure.

The automatic meter reading (AMR) segment is expected to grow steadily over the forecast period. In an analog meter, usually, the device must be accessible to manually collect the data. A typical AMR system comprises three basic components: a meter with a radio transmitter, a data collector, and a data repository system that interfaces with a billing system. Utilities are working on replacing traditional analog meters with these AMR meters that transmit data remotely to a walk-by handheld device or a drive-by vehicle.

The report assesses the market based on technology and end-user. Here, the technology segment comprises automatic meter reading (AMR) and advanced metering infrastructure (AMI).

The notable companies in the smart water meter market include Diehl Stiftung & Co KG, Arad Group, ICSA (India) Limited, Landis+Gyr AG, Datamatic Inc, Master Meter Inc (acquired by Arad Ltd), Aclara Technologies LLC (acquired by Hubbell Incorporated), and Kamstrup AS.

Aclara Technologies LLC is a subsidiary of Hubbell Incorporated. The company offers solutions in six areas, namely, smart meters, AMI software, sensors & controls, implementation services, communication networks, and consumer engagement. It provides a broad range of custom solutions, incorporating fixed-network AMI, and an AMR system controlled by meter data management software. Its product portfolio includes STAR Network AMI system, Metrum Cellular, TWACS technology, and other value-added software solutions. Aclara Technologies provides its services to various public and private companies in the utilities sector, which comprise electric, water, and gas companies. The US-based company is headquartered in Hazelwood, Missouri.

Key deliverables of the report:

●      Market CAGR during the forecasting years 2022-2028

●      Detailed data highlighting key insights, industry components, and market strategies

●     Comprehensive information and estimation of the smart water meter market revenue growth in North America and its influence on the parent market

●      In-depth study of forthcoming trends in consumer behavioral patterns

●     A meticulous analysis of the competitive landscape, vendor scorecard, and Porter’s Five Forces Analysis Model

●    A wide-ranging study of factors that will challenge the North America smart water meter market’s growth during the upcoming years

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