The global market for smart ultrasonic meters is changing and greater attention is being paid to the Asia-Pacific region and the Middle East, according to a new report published by research company Companies and Markets.
The authors maintain that the increase in the global smart water metering market is mainly attributable to the strength and development of the North American market. The European market is lagging behind the U.S., even though the business case for smart water ultrasonic metering in European markets is much more established.
The global balance is changing, however, and increased attention is being paid to the Asia-Pacific region and the Middle East where access to investment capital is more achievable.
The report indicates that the strongest drivers for water utilities to move to smart metering include reduced non-revenue water (NRW), increased billing and accuracy, ensured water sustainability and delivered service optimization and network control.
The analysts say that North American utilities are more open to the most advanced AMI water meters as they largely acknowledge the benefits of long-term investments in data capabilities. At the same time, the Asia-Pacific region and the Middle East, which are younger markets, show potential for strong penetration in the future.
The report indicates that China and India show political push and privatization drivers, while Indonesia and the Philippines represent larger markets displaying demand for advanced water technologies.
The Middle East, with a large rate of desalination, has a stronger case for investment in smart ultrasonic meters.