Smart water leak detectors are electronic sensors designed to detect the water leakage and minimizes the risk of water damage. Water leakage is one of the most common causes of property damage. Smart water leak detectors are small, soap-sized white boxes that you place on a floor near a water-bearing fixture, usually running on long-lasting batteries, similar to a smoke or CO2 detector. These sensors are internet-enabled devices, typically coupled with GPS chips and GIS (Geographic Information System) to detect and report to end-users in case of any water leakage and damage.
These are designed to send notifications directly to the user’s phone when the sensor detects water or any changes in temperature. This technology was developed based on the Advanced Metering Infrastructure (AMI) technology, which acts as the backbone of the smart water meter concept. The smart water meter technology will help operators detect leakages in pipelines, thereby reducing water loses and in turn controlling the water consumption. The smart water leak detectors market is expected to expand at a higher growth rate in the forecast period owing to the increasing demand of smart sensors in order to reduce water leakage and control water consumption.
Further, importance of water conservation and increasing awareness related to water scarcity, leakages, illegal water tapping and other forms of water wastage have triggered the growth of adoption of sustainable water management systems and it plays a major role to drive the global smart water leak detectors market over the forecast period. Rising demand of smart phones and computers is expected to spur the demand of smart water leak detectors is upcoming period.
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However, high initial investments and high installation are some of the factor that is going to hinder the growth of the market. Further, increasing proliferation of Internet of Things (IoT) and its integration in smart home is expected to create ample opportunity for the manufactures during forecast period. Additionally, efforts are being taken by many companies to upgrade their research and development activities to analyze further application that is expected to generate profitable growth opportunities for the market in the forecast period.
The global smart water leak detectors market is segmented on the basis of product type, connectivity, technology and region. On the basis of product type, the market has been segmented into stand-alone sensors, and water sensor alarm model. The stand-alone smart water leak detectors are designed to detect water with two probes placed at the bottom of the unit. These sensors tend to be on the smaller side and work well underneath sinks and alongside sump pumps. However, water sensor alarm models are connected to a cable so that it detects water in small spaces, so those sensors are ideal for behind your washer machine and other hard-to-reach spaces. On Basis of connectivity, the market has been segmented into wired and wireless. By technology, the market has been segmented into Wi-Fi, Zigbee and others. High demand of WiFi enabled smart water leak detectors is expected to contribute towards growth of the market.
In the region wise study, the global smart water leak detectors market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific which comprises China, India, South Korea, Australia and other rising economies captured significant market share followed by North America and Europe in 2017. Asia Pacific showed the fastest growth rate during the forecast period due to the emerging economies. China represents huge potential for the sensors with the low cost of raw materials and huge production facilities in the country. However, The U.S is expected to exhibit high market growth over the forecast period owing to its early technological advancement and high capital expenditure.
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The global smart water leak detectors market is highly fragmented with number of companies operating in the segment. Leading players are currently focusing on providing cost competitive products and acquiring small companies to gain market share. Various manufactures operating in this market are Honeywell International, Vivint, Inc., Samsung Electronics, Glentronics, Inc., SimpliSafe, LeakSmart Inc., Fibar Group, D-Link Corporation.
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