Global Smart Water Meter Market covers the market landscape and its growth prospects in the coming years. Previously, AMR technology was used by water utilities to collect data remotely from water meters via wireless communication systems. This communication system was one-way in nature. However, advances in smart water meters, coupled with the emergence of AMI-enabled communication, which enables two-way feedback, is encouraging more vendors to adopt the technology.
Smart metering aims to reduce energy consumption and costs, and it brings together a range of disciplines and expertise. This is used by utilities in residential, commercial, and industrial scenarios.
More finely tuned network distribution control is one outcome of implementing smart metering by the electricity industry as well as by gas and water utilities.
This has evolved into the rapidly expanding wider practice of Advanced Metering Infrastructure AMIwhich can enable features such as dynamic, time-of-use price plans. Primarily made possible by communication technology innovations, smart metering now extends to gas and water, distribution automation, and new areas of telemetry, such as remote sub-monitoring of Home Area Network HAN devices, including Programmable Control Thermostats PCTs.
The benefits of smart metering for both consumers and utility companies are many: Innovation is also enabling new, industry-specific features that are transforming the full metering market value chain.
For example, smart metering deployments are the building blocks used by the electricity industry to implement outage management or grid voltage optimization. All these technology enhancements improve the allocation of energy, cut resource wastage, and enable more accurate control of network distribution.
This enables utilities to reduce their operational costs; these savings can be passed on to consumers. ABI Research notes the number of smart meters deployed worldwide by will reach million for electricity, million for gas, and 90 million for water.
This is the result of government mandates, which require the use of technology based on specifications from open standards. Utility companies are also increasingly keen to use existing public cellular networks. Doing so reduces CAPEX and OPEX for large-scale roll-outs, because utilities do not need to allocate resources to design, install, operate, and maintain a private network.
Instead, they can focus on their core business.
Cellular Open Standards Cellular open standards bring additional benefits in interoperability, coverage, and capacity, as well as other critical aspects, which are especially pertinent for multiservice utilities.
The benefits will also be felt in situations where smart metering is paired with other municipal automation and remote monitoring systems, such as waste collection, smart parking services, and other forms of urban and environmental surveillance.
Because cellular is based on open standards, it offers better interoperability between different smart metering devices and multiple OEM suppliers.
Cellular technology can therefore help minimize network design complexity and secure quality of service by reducing radio signal collision and interference. Smart Metering Security Another important aspect of smart meter design is security.
Security is a fast-evolving landscape and the complex IT networks that utilities companies deploy will need to operate for a very long time. AMI must therefore safeguard security over time, which is why a key requirement of smart meters is that their firmware the embedded software that controls the smart meter can be updated over the air OTA.
Sending an engineer to do this would be both expensive and slow—prohibitively so in a situation where millions of meters need to be upgraded, as could be the case following a security breach. Doing the update wirelessly removes the need for a service engineer to be sent out.
An OTA firmware upgrade is typically hard to achieve in most sub-GHz low-power radio networks, which generally only support downlink rates of a few hundred bytes of information per day to each device. Conversely, efficient wireless upgrades are possible with Firmware Over The Air FOTAa feature used extensively in mobile phones, and now supported in cellular machine-to-machine M2M technology.Navigant research predicts that worldwide smart meter shipments will reach their peak in The revenue from smart meters is expected to reach $bn, .
According to a study published by Transparency Market Research, the worldwide smart demand response market was worth US$5, million in and this estimated to grow to US$51, million by , expanding at a % CAGR from to Smart Water Metering Market: Global and European Perspectives European Utility Week – Smart Water 6th November, Total Smart Water Metering Market: Global, Market Overview Smart water meter market (value components) Global Smart Water Metering Market.
The global smart cities market is expected to grow from $ billion in to $ trillion by , at a CAGR of 18% during The global smart electric meter market will reach $ billion by The statistic shows the smart electricity meter market revenue in the United States from to In , the smart electricity meter market in the United States generated some million U.
The smart fortwo’s turning circle of meters is the best in the world, while the forfour also boasts outstanding agility with a turning circle of meters.
The two are thus ideally prepared for the demands of .