The demand within the global smart water meter market is rising on account of growing focus on water conservation across regional territories. The scanty levels of freshwater reserves across the world has generated a sense of alarm amongst the masses. Several international conferences and conventions have taken water conservation as an important agenda. Furthermore, global leaders have engaged in pragmatic discussion and debate to resolve the water crisis that surrounds the world. Several countries in Africa are feared of running out of ample water resources over the course of the next few decades. Therefore, the global smart water meter market is growing as the need for optimization of water resources gains swing.
- Climate experts and environmentalists have predicted unfavourable patterns of rainfall over the next few years. Moreover, the growing dangers of acid rain have led conservationists to preserve the existing fresh water reserves. In this scenario, judicious usage of water across commercial, industrial, and residential domains has become a necessity. Smart water meters have emerged as an important technology that can change the way people consume water for their needs. These meters can help in measuring the requirements and usage of water across a particular locality during a given period of time. Smart water meters have been hailed as a central force that can foster sustainability across the planet.
The development of smart cities across leading countries and territories has given an impetus to the sale of smart water meters. These meters are a part of the robust, succinct, and globally accepted ecosystem that surrounds a smart city. Smart water meters can function in sync with several other technologies such as smart electric meters. The ability of municipal bodies to gather insights about water usage across a locality shall play a vital role in driving demand within the market.
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Secondary research sources that are typically referred to include, but are not limited to: company websites, annual reports, financial reports, broker reports, investor presentations, SEC filings, internal and external proprietary databases, relevant patent and regulatory databases, national government documents, statistical databases, news articles, press releases, webcasts specific to companies operating in the smart water meter market, national government documents, statistical databases, market reports, and Factiva.
Primary research involved e-mail interactions, telephonic interviews, and face-to-face interviews conducted for each segment and sub-segment of the smart water meter market across geographies. TMR conducts primary interviews on an ongoing basis with market participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competition landscape, and market outlook. These help in validation and strengthening of secondary research findings. They also help develop market expertise and understanding of the team of analysts.
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Global Smart Water Meter Market: Competition Dynamics
The report includes well-established players such as Kamstrup A/S, Diehl Stiftung & Co. KG, Badger Meter, Inc., Itron Inc., and Sensus USA Inc. These players are focusing on enhancing their distributer network so as to enhance product reachability. For instance, in April 2018, Badger Meter, Inc. signed an agreement for acquisition of a distributor called Innovative Metering Solutions. The acquisition would help Badger Meter, Inc. in improving the utility customer satisfaction in the Southeastern U.S., as it helps in offering prompt technical as well as sales support whenever required.
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