Middle East And Africa Smart Water Meter Market 2022-2028

Middle East And Africa Smart Water Meter Market 2022-2028

MARKET OUTLOOK

Triton Market Research’s report on the smart water meter market in the Middle East and Africa indicates that it is likely to advance with a CAGR of 8.80% over the forecasting duration from 2022 to 2028. Turkey, the United Arab Emirates, South Africa, Saudi Arabia, and Rest of Middle East & Africa together constitute the market in this region.

Israel is one of the key countries in Rest of Middle East & Africa. In November 2019, Mekorot, the Israel National Water Company, and Newsight Imaging, a startup from Ness Ziona that makes chips for spectrum diagnostics and machine vision, signed an MoU for the development of water monitoring systems. In the same month, Mekorot, Israel’s national water company, and NanoLock Security, the market leader in powerful, flash-to-cloud security solutions for IoT & connected edge devices, teamed up to develop cybersecurity solutions for water & energy utilities across Israel as well as globally.

The United Arab Emirates ranks in the top ten countries in the world for water scarcity and has one of the highest water requirement rates worldwide. The Dubai Electricity and Water Authority (DEWA) has started installing smart meters throughout the Emirates in an effort to combat water scarcity, giving customers access to useful data on water consumption. This will help them track their consumption in order to better manage their finances. DEWA, which distributes water and power to more than 300,000 consumers in northern UAE, has offered a contract to Kamstrup, a Danish metering business, for 30,000 smart water meters.

COMPETITIVE OUTLOOK

The key players operating in the smart water meter market include Elster Group GmbH, Master Meter Inc (acquired by Arad Ltd), Sensus (acquired by Xylem), Badger Meter Inc, Aclara Technologies LLC (acquired by Hubbell Incorporated), ICSA (India) Limited, Itron Inc, and Arad Group.