Austin, TX, U.S.A. --- (METERING.COM) --- November 25, 2011 - The advanced water metering market, estimated at about 5.5 million global shipments in 2010, is expected to almost double to roughly 10 million shipments annually in 2016, according to a new report from IMS Research.
These shipments accounted for over $500 million in revenue in 2010, with over 70 percent of this seen in the North American market.
Further, the majority of the advanced water meter growth is being driven by North America, and specifically two-way meters are forecast to have significant growth in this region, increasing from a small fraction of the market in 2010, to an anticipated third of the overall market in 2016. This is by far the highest percentage of two-way meters of any region currently, and forecast.
“North America already has a high penetration of advanced metering,” said Nicole Juarez, who authored the report. “While one-way meters continue to have higher unit shipments than two-way meters currently, in North America higher growth is forecast for two-way meters over the next five years. The price of two-way meters is gradually becoming comparable to traditional mobile read meters, and when reviewed against possible labor cost savings, utilities are increasingly realizing that purchasing two-way meters is currently justifiable.”
These meters will likely be used initially in a direct or mobile read solution, until sufficient installed base exists within a manageable metering family to upgrade to a fixed network.
Globally, however, advanced water meter shipments remain a small percentage of total water meter shipments. This is because the largest water meter market, Asia, predominantly consists of basic water meters. Of global water meter unit shipments in 2010, 6 percent were advanced water meters, estimated to grow to over 8 percent by 2016.
For more information and to order the report “The World Market for Water Meters – 2011,” click here.