According to the recent research report titled ‘GLOBAL Smart Water Meter Market 2019-2027’, available with Market Study Report, global smart water meter market is projected to record 7.59% CAGR over 2019-2027.
 

Mounting demand for sustainable water supply across several industries is primarily stimulating global smart water meter market growth. Rising number of smart city projects and evolving sustainable water management systems are also contributing to the overall market outlook.
 

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Speaking of the restraints, operational issues and high cost of product installation are hindering the industry expansion. Moreover, budget constraints for water management systems is negatively impacting the remuneration scale of the industry.
 

Based on technology type, global smart water meter market is classified into advanced metering infrastructure (AMI) and automatic meter reading (AMR). With respect to end user scope, the industry is split into residential, industrial, and commercial.
 

Coming to the regional terrain, top contributors to global smart water meter market remuneration are North America (Canada, United States), Europe (Russia, Italy, Spain, France, Germany, United Kingdom), Asia Pacific (South Korea, India, Japan, China), Latin America (Mexico, Brazil), and Middle East & Africa (South Africa, Saudi Arabia, Turkey, United Arab Emirates).
 

North America smart water meter industry is projected to gain traction over the assessment period, creditable to water scarcity in various economies leading to escalating demand for an improved water management system. Strict norms on excessive water use and water resource management, as well as the rapid development of smart cities are expected to boost the regional market growth. Besides, prompt adoption of advanced technologies in the region will continue to expand the business horizon.
 

Major companies profiled in global smart water meter market report are Datamatic Inc., Neptune Technology Group Inc., ICSA India Ltd., Mueller Water Products Inc., Diehl Stiftung & Co. KG, Arad Group, Zenner International GmbH & Co. KG, Aclara Technologies LLC (Hubbell Incorporated), Kamstrup A/S, Itron Inc., Landis+Gyr (Toshiba Corporation), Elster Group GmbH, Badger Meter Inc., Sensus (Xylem Inc.), and Master Meter, Inc.(Arad Group).