Asia-pacific Smart Water Meter Market 2022-2028

Asia-pacific Smart Water Meter Market 2022-2028

MARKET OUTLOOK

A Triton Market Research report indicates that the smart water meter market in the Asia-Pacific would progress with a CAGR of 9.50% over the forecasted duration between 2022 and 2028. China, India, ASEAN countries, Japan, Australia & New Zealand, South Korea, and Rest of Asia-Pacific together shape the market in this region.

To speed up the implementation of NB-IoT-enabled smart water meters in China, Jiangxi Water Utility developed a technical lab in Nanchang, Jiangxi province, in July 2019. The China Water Utilities platform, which was created to encourage the adoption of ultrasonic water meters, is being extended by the utility & sensor solution providers AMS and Qingdao iESLab Electronic. Jiangxi Water Group Co will use real-time data to manage its water distribution infrastructure, better understand customer usage profiles, and enhance services for almost 10 million households. This will prove beneficial for the growth of the studied market in the coming years.

In India, nearly 450 water meters were successfully set up in the Kapil village Gram Panchayat, in Maharashtra, in 2018. Also, the Hyderabad Metropolitan Water Supply and Sewerage Board has planned to install smart water meters on a wide scale. 40,000 smart water meters will be installed by the utility over the next few years in an effort to cut down on water theft & meter manipulation, and to increase revenue collection. Further, around 6,000 to 8,000 apartments in the Bangalore Apartment Federation had smart water meters called WaterOn installed in 2019, which helped decrease water usage by 30%. These meters were manufactured by Bengaluru-based Smarterhomes Technologies.

COMPETITIVE OUTLOOK

The eminent players in the smart water meter market are Zenner International GmbH & Co KG, Badger Meter Inc, Sensus (acquired by Xylem), Diehl Stiftung & Co KG, Landis+Gyr AG, Elster Group GmbH, Mueller Water Products Inc, and Arad Group.