Zion Market Research Global Smart Water Metering Market , 2016–2024 | Page 3

Smart Water Metering Market
Global Smart Water Metering Market: Growth Factors
The growth factors driving the global smart water metering market are the increasing demand
for reconstruction of old water infrastructures, need for accurate billing, and water wastage
reduction. The rising demand for the reduction in the overall costing, reduction in greenhouse
gas footprint, and demand for an efficient and accurate water operation in the residential,
industrial, and commercial sector is also a reason fuelling the growth of the global market. The
checking of operations at the user and distributor end saves money which in turn boosts the
global smart water metering market. The government water utility body is adapting smarter
water metering technology in various regions to overcome the water-related problems in the
future which drives the global market.
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Global Smart Water Metering Market: Segmentation
The global smart water metering market is segmented based on type, component, and
application. The component segment is further bifurcated into IT solution, communication, and
meters and accessories. The type segment is divided into advanced metering infrastructure and
automatic meter reading which are further classified into the multi-jet flow, velocity flow, single-
jet flow, electromagnetic, positive displacement, and fluidic oscillator. The application segment
is categorized into water utilities, commercial, residential, and industrial. The meter and
accessories and automatic meter reading segments dominate the global smart water metering
market.