A new report conducted by Research and Markets to understand the global market for water utility monitoring systems, forecasts revenue generation within the sector to increase by 5.11% between 2018 and 2022.
Driving the market is increasing utilities focus on water recycling and reuse to address water scarcity.
According to the report, increases in population and urbanisation are leading to high demands of water resources, putting pressure on utilities.
In addition, rising energy costs is expected to increase the costs of operating traditional water distribution systems. This will drive water distribution companies to invest in digital and energy efficient monitoring systems.
The biggest trend within the market is increased investments in customer engagement and awareness programmes.
Utilities are expected to continue investing in projects to improve customer knowledge on water conservation and on the benefits of smart technologies including smart meters to address issues such as increasing water contamination and scarcity.
Key vendors within the market include Itron, Aclara, Landis+Gyr and Sensus.