Report : South America Smart Water Metering Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Automatic Meter Reader and Advanced Metering Infrastructure), Component (Controlling Units, Display Storage & Integrated Software, and Others), Application (Residential and Industrial), and Meter Type (Ultrasonic Meters, Electromagnetic Meters, and Electromechanical Meters)
At 6.4% CAGR, the South America Smart Water Metering Market is speculated to be worth US$ 285.47 Million by 2028, says Business Market Insights
According to The Business Market Insights’ research, the South America smart water metering market was valued at US$ 197.04 million in 2022 and is expected to reach US$ 285.47 million by 2028, registering a CAGR of 6.4% from 2022 to 2028. Smart irrigation systems through smart water management are the critical factors attributed to the South America smart water metering market expansion.
One of the most crucial pieces of a city is its water supply system. With the increasing population, it is inevitable anticipated that the demand for water consumption will increase exponentially. A city’s water distribution channel and management systems have to be viable over a longer period of in order to maintain consistent growth and should be integrated with technologies that are capable to monitor and check water loss issues. Various developed and developing nations across the globe are witnessing a paradigm shift to smart cities. The government of various countries are adopting the momentum of smart cities thereby, investing in the development of internet infrastructure in the countries with an aim to bring robust urbanization. The demand for smart water meter is anticipated to witness an exponential growth in these smart cities as the smart city initiatives majorly focus on the energy sector. The water utilities in all countries cater to energy sectors as the energy generation sector is one of the prominent consumers of water. Pertaining to the advancement of energy sectors in smart cities, the future for smart water meters is also anticipated to be promising.
On the contrary, high initial investment and lack of knowledge hurdles the growth of South America smart water metering market.
On the basis of type, the South America smart water metering market has been segmented into advanced metering infrastructure and automatic meter reader. The automatic meter reader segment held 81.2% market share in 2022, amassing US$ 159.97 million. It is projected to garner US$ 227.87 million by 2028 to expand at 6.1% CAGR during 2022–2028.
On the basis of component, the South America smart water metering market has been segmented into controlling units, display/storage and integrated software, and others. The display/storage and integrated software segment held 38.8% market share in 2022, amassing US$ 76.53 million. It is projected to garner US$ 113.32 million by 2028 to expand at 6.8% CAGR during 2022–2028.
On the basis of application, the South America smart water metering market has been segmented into residential and industrial. The residential segment held 72.6% market share in 2022, amassing US$ 143.10 million. It is projected to garner US$ 210.46 million by 2028 to expand at 6.6% CAGR during 2022–2028.
On the basis of meter type, the South America smart water metering market has been segmented into ultrasonic meters, electromagnetic meters, and electromechanical meters. Ultrasonic meters segment held 47.9% market share in 2022, amassing US$ 94.34 million. It is projected to garner US$ 141.18 million by 2028 to expand at 7.0% CAGR during 2022–2028.
Based on country, the South America smart water metering market is segmented into Brazil, Argentina, and the Rest of South America. Our regional analysis states that Brazil captured 54.9% market share in 2022. It was assessed at US$ 108.09 million in 2022 and is likely to hit US$ 160.78 million by 2028, exhibiting a CAGR of 6.8% during the forecast period.
Key players dominating the South America smart water metering market are Arad Ltd; Diehl Stiftung & Co KG; Itron Inc; Kamstrup AS; Sensus USA Inc; WAVIoT Integrated Systems LLC, among others.
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