Market research firm Navigant predicts revenue generation in the global smart water networks market to rise from $2.6 billion in 2016 to $7.2 billion by 2025.An increase in sales of smart water meters is expected to drive the growth of the market.
According to Navigant Research, global utilities will increase their use of automated meter reading technologies to improve management of their water distribution networks.
The research firm states that utilities will employ smart meter technologies to meet growing water demand due to rapid increases in the global population.
Anne Wrobetz, research analyst at Navigant Research, commented: “Non-revenue water, aging infrastructure, and quality concerns are driving water utilities to adopt smarter systems, in the form of advanced metering infrastructure (AMI) and automated meter reading (AMR).
“This transition is occurring in regions like North America, where metering is widespread but tends to be carried out by often inaccurate, mechanical meters, and in regions where metering and point-of-use distribution networks are relatively recent, such as in some parts of Asia.”
The decrease in costs of AMI and AMR technologies, after 2023, will support utility’s increased adoption of smart water meters and growth of the smart water networks market during the forecasted period (2016-2025). [Non-revenue water to drive European smart water meter market.
However, the communication devices, data management systems, network monitoring and control services sector will also contribute to the growth of the global smart water networks market through to 2025.
Smart water networks and smart meter adoption
The news follows an announcement made in early August by Danish company Kamstrup that it has been chosen as a preferred meter supplier for a Norwegian alliance that will deploy 14,000 smart water meters and a remote reading system.
Five municipalities including Oppegård Municipality, Ås Municipality, Frogn Municipality, Nesodden Municipality and Vestby Municipality ordered 14,000 intelligent MULTICAL 21 water meters from the metering company.
The order is claimed to be the biggest order yet within water metering in Norway. The installation of the smart water meters is expected to be completed within the next four years.
In a press statement, Kamstrup said, the integrated intelligence of the meters gives immediate notice to the utilities in case of unusually high water consumption, which can indicate the commencement of a leak or burst. The utilities are thus able to ensure that water waste is minimised quickly and efficiently, saving both utility and consumer money and water.
In addition, the intelligent meters will aid in faster, more accurate billing.
Image credit: www.energyandutilityskills.com.