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The water utility monitoring system market size has the potential to grow by USD 807.37 million during 2020-2024, and the market's growth momentum will accelerate during the forecast period.
This water utility monitoring system market research report provides a detailed analysis of the market by technology (AMI and AMR), end-user (domestic and industrial), and geography (Europe, APAC, North America, South America, and MEA). Also, the report analyzes the market's competitive landscape and offers information on several market vendors, including Aclara Technologies LLC, Badger Meter Inc., CGI Inc., Itron Inc., Landis+Gyr AG, Liss Technologies Group LLC, LUMEL SA, ORBCOMM Inc., Verizon Communications Inc., and Xylem Inc.
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The market is fragmented. The key vendors in the market are focusing on M&A activities to increase the water utility monitoring system market demand. Aclara Technologies LLC, Badger Meter Inc., and CGI Inc. are some of the major market participants. These vendors are offering customized options to differentiate themselves and increase their market share. According to the water utility monitoring system market report, the increasing burden on water utilities owing to the need for water recycling and reuse will offer immense growth opportunities, the absence of stringent regulations in the industry in comparison to power utility industry will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this water utility monitoring system market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market's competitive landscape and offers information on the products offered by various companies. Moreover, this report also provides information on the upcoming water utility monitoring system market trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This water utility monitoring system market analysis report provides information on the production, sustainability, and prospects of several leading companies, including:
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Europe was the largest water utility monitoring system market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as the high demand for water from the residential and commercial sectors will significantly drive water utility monitoring system market growth in this region over the forecast period.
35% of the market's growth will originate from Europe during the forecast period. The UK, Germany, and France are the key markets for water utility monitoring systems in Europe. Market growth in this region will be slower than the growth of the market in APAC.
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AMI in the water industry has been gaining traction, as water utilities are increasingly focusing on improving customer service and enhancing operational efficiency. Many water utilities in North America and Europe are switching from traditional water infrastructure to AMI.
Therefore, the water utility monitoring system market share growth by the AMI segment will be faster than the growth of the market by the AMR segment. This report provides an accurate prediction of the contribution of all the water utility monitoring system market segmentation.
The increasing burden on water utilities owing to the need for water recycling and reuse is one of the key factors expected to trigger the growth of water utility monitoring system market size in the forthcoming years. There has been a significant rise in water recycling projects such as non-potable water systems. Such projects will further drive the water utility monitoring systems for proper integration and management of water utilities. The rising focus on moving beyond conventional water recycling projects to energy-efficient water recycling projects is also expected to drive market growth in the coming years. Researchers forecast that the water utility monitoring system market may register a CAGR of over 4% during the forecast period.
Several consumer engagement activities and awareness programs are gaining traction, which is one of the key water utility monitoring system market trends. Various consumer education programs are being launched to create awareness about water conservation and educating consumers about several benefits of the implementation of smart water meters. Utility providers are also leveraging social media platforms and online channels for engaging with customers, leading to market growth.
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