Harnessing IoT to transform the ecosystem of water metering infrastructure

This has opened up growth opportunities for Internet of Things (IoT)-enabled smart meters, further energizing an entire ecosystem of metering infrastructure.

Water scarcity already affects every continent. Water use has been growing globally at more than twice the rate of population increase in the last century, and an increasing number of regions are reaching the limit at which water services can be sustainably delivered, especially in arid regions.

According to the Frost & Sullivan's recent analysis, Global Smart Water Meter Market, Forecast to 2026, water-stressed countries are leading the shift from traditional water meters to smart water meters. Smart water meter installations are expected to grow from 13.8 million units in 2017 to 82.1 million units by 2026; China is the fastest growing market due to its rapid urbanization, smart city development, and favorable policies.

This has opened up growth opportunities for the Internet of Things (IoT)-enabled smart meters, further energizing an entire ecosystem of metering infrastructure.

The research analyzed the trends, market drivers and restraints, growth opportunities, revenue and unit shipment forecasts, and competitive analysis of participants in North America, South America, EMEA, Asia-Pacific, and China.

There is a steady rise in the demand for IoT-enabled advanced metering infrastructure (AMI) smart water meters due to their multiple capabilities of real-time visualization, leak detection, and machine-to-machine (M2M) communications," said Paul Hudson, Senior Research Analyst, Energy & Environment, Frost & Sullivan.

China is well on its way to becoming the single largest market for smart meters by 2019. Huawei, a China-based company, pioneered the implementation of an NB-IoT communication module for smart water metering, while Vodafone led in Europe. North America also is experiencing high demand due to its utilities' focus on reducing non-revenue water (NRW) losses and adopting smart billing, says the report.

IoT-enabled AMI smart water meters, New business models, Smart water management solutions are the key growth areas in the smart water meter industry, the report added.

Global Smart Water Meter Market, Forecast to 2026 is part of Frost & Sullivan's global Environment & Water Growth Partnership Service program.