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#News(General) [ via IoTForIndiaGroup ]
Global Smart Water Metering Market is set to grow from its current market value of more than US$900 million (€787 million) to more than $3 billion (€2.62 billion) by 2024. This is according to a new research report by Global Market Insights, Inc
Increasing measures toward water security and monitoring of Non-Revenue Water (NRW) will enhance the smart water metering market. Increasing urbanisation, ageing distribution mains and rising energy cost will further provide a stimulus to the industry outlook. According to the World Bank, 32 billion cubic metres of treated water is lost through leakages in distribution network worldwide. An additional 16 billion cubic metres is supplied annually but not charged due to poor metering, inappropriate billing and thefts.U.S. smart water metering market is projected to expand over 6% by 2024. Ongoing water conservation reforms coupled with government funding toward installation of smart grid technologies will positively drive the product adoption.
AMI smart water metering market is predicted to grow over 28% by 2024. The use of AMI systems is attributed to quick detection of water leakages, reduction in water wastage and improved water supply. These systems offer advanced capabilities in data analysis and operations.
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