Window Automation market to exhibit highest growth via residential applications over 2016-2024, surging demand for hybrid products to boost the industry share

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Automation is the need of the hour, the pathway to a comfortable & convenient lifestyle, subject to which window automation market is expected to generate lucrative gains over the next few years. Rapid urbanization and the development of smart homes will push window automation industry growth a notch higher. In a bid to expand automatic ventilation systems industry, the governments of various countries are investing significantly in infrastructural development to generate revenue via tourism and attract foreign investors. This in turn, will be a major factor driving window automation market. According to Global Market Insights, Inc., “Worldwide window automation market having had a revenue of USD 4 billion in 2015, will register an annual growth rate of about 5.5% over the period of 2016 to 2024.”

Taking into account the end-use segment, window automation market is mainly divided into contractors, profile houses, façade builders, and window manufacturers. Shifting trends toward smart homes and the availability of automated building solutions will favor the growth of industry in profile houses, in which many of the OEMs are investing significantly to attract more customers. Window manufacturers was a dominant end-use segment and contributed majorly toward the global industry share. The surging investment in R&D activities will create high demand for the product across the various application areas such as industrial, residential, and commercial sectors.

Europe Window Automation Market Size, By Product, 2015 & 2024 ($ Mn)
 Europe Window Automation Market Size, By Product, 2015 & 2024 ($ Mn)

The escalating investment in commercial infrastructure development such as airports, educational institutes, retail, healthcare, public transit, and hospitality will generate heavy demand for window automation. Residential application segment is predicted to register highest annual growth rate over the coming years of 2016 to 2024, primarily driven by the changing consumer preference toward automated products pertaining to low energy consumption. In addition to this, shifting trends toward smart homes will also propel window automation industry size notably.

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Hybrid, mechanical, and electric are the key products of window automation market. Hybrid products save lots of energy, as they use mechanical components. In addition, the use of the fan is avoided, which will reduce the total electricity cost. This, in turn, will fuel window automation market share. Electric window automation held the largest share of the global market in 2015 and is predicted to collect significant revenue over the coming seven years. The growth can be attributed to the implementation of highly reliable and automated sensors and actuators in the devices.

Considering the regional landscape, China window automation market size will collect considerable revenue over the years ahead. China has implemented various building codes to propagate natural lighting, smoke evacuation, and ventilation. This, in turn, will augment the market growth.

Europe window automation industry will exhibit substantial growth rate over the period of 2016 to 2024, owing to the growing product adoption to generate cooling or heating effects in desirable weather conditions. Moreover, regulatory norms regarding the work safety across the smoke ventilation application will boost the need for window automation.

Window automation market is widely fragmented across the globe. Most of the companies are working on cost reduction and product differentiation. Many market participants are expanding their regional distribution channels to gain considerable profits. Joint ventures and acquisitions are key growth strategies adopted by market players to sustain the competitive business space.

Author Name :Sunil Hebbalkar

APAC material handling equipment market to drive the regional landscape, rapid growth of e-commerce industry to push the demand

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Material handling equipment industry has evolved in the past few years with advanced technological interventions such as voice picking, RFID, Big data analytics, IoT, etc. With the developments in logistics operations globally, the adoption of material handling systems across several end users has turned huge. A strong investment in the installation of these machineries in warehouses to enhance the productivity, is anticipated to directly influence material handling equipment market growth path. Some of the end use industries such as general merchandise, food retail, and durable manufacturing are also automating their production base by incorporating material handling equipment in the process. As per Global Market Insights Inc., Material handling equipment market having held a revenue of USD 110 billion in 2015, is slated to exceed USD 190 billion in the next seven years, with a projected CAGR of 5% over the period of 2016-2024.”

Global Material Handling Equipment Market Size, By Application, 2015 & 2024 ($ Bn)
Global Material Handling Equipment Market Size, By Application, 2015 & 2024 ($ Bn)

Automated Storage & Retrieval System (AS/RS)), industrial trucks, storage & handling equipment, and robotics are the major products prevalent in the market. Material handling equipment industry from robots is witnessing a significant demand. The high-end manufacturing plants are incorporating robots to offer high level productivity on grounds of minimum manual error. These robots can efficiently transport objects from one location to other without human involvement.  Industrial trucks usage has also increased in the recent times. The recurring transfer of goods from one place to other through a conveyor system is not at all a convincing option, which in turn is propelling material handling equipment market demand from industrial trucks sector. In a continuously developing dynamic manufacturing environment, automated storage & retrieval System (AS/RS) will also witness large scale adoption. (AS/RS) requires less human involvement, reduced floor space, and inventory levels, which puts them on a higher edge than manual storage approaches.

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E-commerce is expected to dominate the application landscape for material handling equipment industry in the years ahead. The advent of e-commerce has provided the customers with an infinite variety of choices, leading to a surging demand for faster deliveries worldwide. Numerous vendors of e-commerce industry are installing ware house management system for monitoring inventory levels, which is expected to have a direct impact on material handling equipment market growth chart.

Asia-Pacific region is anticipated to witness substantial growth in material handling equipment industry in the coming timeframe. A major share of the region’s growth projection can be credited to the increasing industrial developments and the growing adoption of E-commerce across this belt that propels the implementation of material handling equipment. In addition to this, low labor and reduced transportation costs across these regions is allowing the manufacturers to incline toward automated systems, which in turn is influencing the regional growth.

Material handling equipment market is highly competitive with more number of industry participants investing in research activities to upgrade the product portfolio. Though high maintenance cost is acting as a major challenge for the market players, yet global consumer cravings for integrating advanced technologies in logistics operations is expected to catalyze the market demand. Some of the key players in material handling equipment industry include Kion Group AG, Daifuku Co. Ltd, Bastian Solutions LLC, Dematic GmbH, etc.

Author Name :Satarupa De

Healthcare Analytics market to witness phenomenal growth potentials in developing economies, hospitals to observe extensive deployment rate

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The huge influx of data in the healthcare industry is providing a significant impetus to the global healthcare analytics market. With the advent of digitization, the entire medical space has been flooded with data via innumerable platforms such as social media, online healthcare portals, professional medical sites, etc. In this regard, precision medicine industry is also substantially contributing toward the growth of healthcare analytics market, owing to the large volume of digital genome data inflow which requires accurate and precise analysis to be converted into actionable insights.

The rising healthcare cost, which has been addressed as a global concern by both the government as well as private bodies, is another pivotal driver for the healthcare analytics industry. Healthcare analytics has witnessed a rapid surge in its adoption rate over the past few years. The trend is likely to continue attributed to the growing use of this technology to curtail the global healthcare expenditure by providing accurate clinical outcomes, improving the efficiency of current treatment models, and significantly reducing the number of hospital visits and unwanted medical testing procedures.

Germany Healthcare Analytics Market Size, By Product, 2013-2024 (USD Million)

Big data has significantly occupied a commendable space in every industry, healthcare being a major name in the list. The use of traditional medical approaches such as paper charts has been phenomenally replaced by digital healthcare tools such as real-time monitoring systems, Electronic Health Records (EHRs), etc. With the increasing medical data via these digitized sources, healthcare analytics industry is certain to grow stupendously over the years ahead. As per Global Market Insights, Inc., “Global Healthcare analytics market is estimated to register a CAGR of 12% over 2016-2024, with a target revenue of USD 16 billion by 2024.”

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The government backing for the technological developments in the medical space is further boosting healthcare analytics industry share. Reportedly, huge investments are being made in digital healthcare firms for the development of mhealth apps, IOT based healthcare solutions, and big data analytics. Both the government and venture capitalist firms are spending heftily in this industry, owing to the assured ROI and evident benefits of this technology. Predictive analytics is one of the major healthcare analytics tool being immensely deployed across medical organizations. The report estimates the healthcare predictive analytics market to surpass a revenue of USD 5 billion by 2024.

Descriptive analytics which is precisely referred to as a precursor for prescriptive and predictive analytics is forecast to grow lucratively over the years ahead, having contributed to over 55% of the overall share in 2015. With this contribution, it was also the dominant tool in the overall healthcare analytics product landscape. As per the projection, healthcare descriptive and prescriptive analytics markets are anticipated to register CAGR of 11% and 14% respectively over the period of 2016-2024.

Hospitals were the primary end-users of the healthcare analytics industry with a contribution of 70% to the overall revenue. The need of curtailing healthcare costs and enable optimized clinical decisions are the chief drivers for the wide adoption of this tool in hospitals. Clinics are also one of the major end-users witnessing a heavy adoption rate of this technology, owing to the focus toward evidence-based practicing and enhanced patient care models. Healthcare analytics market share from clinics is estimated to record a CAGR of 13% over the coming seven years with a target revenue of USD 2 billion by 2024.

In response to the heavy adoption in clinics, one of the significant applications of the healthcare analytics technology i.e. clinical management is likely to observe a lucrative path ahead. The increasing investments in clinical solution provider firms will also augment the growth arenas for this application. Clinical management market is forecast to register a CAGR of 13% over 2016-2024.

The other application arrays of healthcare analytics market include population health management, financial management, and operations management. The prime driver for the adoption of this technology remains the global concern regarding the increasing healthcare expenditure. On this ground, financial management accounted for 30% of the overall application landscape and is expected to surpass USD 5.5 billion by 2024. In addition to the need of curbing healthcare cost, the rising demand for detection and prevention of healthcare frauds will also be a key factor driving the growth of healthcare analytics market in financial management applications.

Developing economies are expected to witness a heavy growth in the healthcare analytics industry. However, having an upper hand pertaining to the technological advancements along with developed healthcare infrastructure and huge capital investments in the medical space, U.S. is one of the major regions partaking in the healthcare analytics industry development.

Germany healthcare analytics industry also witnessed appreciable growth in the recent years and accounted for over 25% of the European market share in 2016. Taking Asia Pacific growth trends into consideration, Japan is likely to emerge as one of the chief regional drivers attributed to the ongoing advancements in healthcare IT and adoption of prescriptive and predictive analytics tools across most of the regional hospitals. In addition, huge geriatric patient base and rising healthcare expenditure will further boost Japan healthcare analytics market share. The region is predicted to register an annual growth rate of 12% over the period of 2016-2024.

Some of the renowned companies sharing the healthcare analytics industry space are IBM, McKesson Corporation, OptumHealth Financial, Allscripts, Athenahealth, Athenahealth, Cerner Corporation, Inovalon, and Computer Programs and Systems, Inc. Geographical expansion, particularly across commercially untapped regions along with focus on developing customized healthcare solutions are the major growth strategies adopted by the healthcare analytics market participants.

The data integrity issues, dearth of skilled IT professionals, and unorganized data sharing procedures are the factors that may hamper the healthcare analytics market demand in the years to come. However, the growing investments of the companies in developing safe and secured analytics tool along with the commendable adoption of healthcare analytics technology across a series of applications is certain to draw a strong trajectory for global healthcare analytics industry in the coming years.

Author Name :Shikha Sinha

Blood preparation market to witness lucrative growth prospects in U.S., Global industry revenue to surpass USD 64 billion by 2024

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Rise in the worldwide demand for transfusion of blood due to increasing prevalence of blood related disorders has driven blood preparation market. The growing geriatric population base which is more susceptible to such disorders is one of the major factors driving the industry trends. According to Global Market Insights, Inc., “Blood preparation market is estimated to record a CAGR of over 4.4% over the period of 2016-2024 with a target revenue worth USD 64.38 billion by 2024.”Blood preparation industry is gaining considerable traction with the increasing government initiatives to spread awareness pertaining to blood disorders. For instance, CDC and NIH are actively launching awareness programs to combat the complications associated with thrombosis. Moreover, swift technological improvements in the testing equipment such as analyzers and centrifuges have aided in accurate and rapid diagnostics of the disorders.

China and India are expected to hold major revenue share of Asia Pacific. The rising healthcare expenditure, increasing blood-associated disorders and larger number of unmet medical needs are the attributing factors for the regional growth of blood preparation industry. Presence of a huge geriatric population base in China will further complement the regional growth.

U.S. Blood Preparation Market Size, by Product, 2012- 2024 (USD Million)

U.S. Blood Preparation Market Size, by Product, 2012- 2024 (USD Million)

Pulmonary embolism and thrombocytosis are reported to be the leading causes of demise. In 2015, these two disorders together accounted for over 43% of total blood preparation market. Other applications of this industry include angina blood vessel complications and renal impairment.

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On the product front, the blood preparation industry is segmented into blood derivatives, components and whole blood. Blood components refer to products derived from platelet-rich plasma. This segment is likely to account for a considerable share in the coming years, owing to the increasing use of frozen plasma, platelet concentrate, leucocyte reduced RBCs, packed red cells and whole blood components. The whole blood product segment of the blood preparation market generated the highest revenue share, having accounted over 48% in 2015. Blood derivatives segment stood second by contributing 34% of the overall blood preparation industry share in 2015.

With reference to antithrombotic and anticoagulants type of drugs pipeline, blood preparation market is segmented into fibrinolytic, anticoagulants and platelet aggregation inhibitors. Rise in the incidences of thrombosis, and growing geriatric population has raised the demand for more efficacious drugs. Due to these reasons, anticoagulants led the overall blood preparation industry by collecting revenue over USD 17 billion in 2015. Government initiative regarding the awareness and prevention of thrombosis disorders is also likely to give a major push to the industry growth.

Developed and well equipped healthcare infrastructure in U.S. will propel the regional blood preparation market. U.S. also witnesses an increasing prevalence of thrombocytosis disorder which will contribute toward industry growth. U.S. market is estimated to surpass 25 billion by 2024, backed by several government initiative and high patient awareness levels.

The major industry participants are focusing on the research for efficient and cost-effective drugs to cure blood related disorders. To cope up with the ever-rising patient pool, the blood preparation market players are constantly engaged in developing innovative technologies. The companies are set to introduce rapid and easy handling instruments for the preparation of blood components. Key industry players include Pfizer, Sanofi Aventis, Leo Pharma, Bristol-Myers, Shandong East Chemical, GlaxoSmithKline, Celgene, Baxter Healthcare, and AstraZeneca.

Author Name : Ojaswita Kutepatil

Neurovascular devices market to record a substantial revenue via hospitals, coiling procedures to lead the process landscape over 2016-2024

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Escalating prevalence of brain-related disorders coupled with the popularity of minimally invasive surgeries will spur neurovascular devices market. Touted to be one of the most lucrative growth avenues for medical device manufacturing corporations, this industry is slated to surpass a revenue of USD 2.3 billion by 2024, growing with a CAGR of 4.1% over 2016-2024. With the healthcare sector growing at a rapid pace across the globe, the demand for these medical devices has exponentially increased, thereby providing a positive impetus to global neurovascular devices market.

U.S. Neurovascular Devices Market Size, By Therapeutic application, 2012- 2024 (USD Million)

U.S. Neurovascular Devices Market Size, By Therapeutic application, 2012- 2024 (USD Million)

The demand for minimally invasive surgeries has perpetually increased worldwide, propelled by the reduced hospital stays, favorable medical insurance and reimbursement policies, and the convenience and accuracy of these surgical procedures. This in turn, will stimulate neurovascular industry over the coming years of 2016 to 2024. This market is highly consolidated and includes the participation of giants such as Stryker, Johnson & Johnson, Terumo, Medtronic, and Penumbra. Reportedly, Stryker has a lion’s share in global neurovascular devices market revenue, primarily owing to the clever business tactics undertaken by the company at regular intervals. The lack of skilled neuro-medical experts and the rising cost of neurovascular devices is likely to pose a restraint to global neurovascular devices industry growth. Key participants, however, are working toward effectively combating these restraints by means of strategic acquisitions and innovative product developments.

Neurovascular devices are principally utilized in end-use sectors such as hospitals, ambulatory surgical units, and clinics. Hospitals are estimated to depict the highest growth rate between 2016-2024, having accounted for over 85% of the overall industry share in 2015. Neurovascular devices market from ambulatory surgical units is expected to grow significantly, especially across the U.S. and Germany, owing to the high prevalence of brain disorders pertaining to the rising obese population in the region.

Speaking of the United States, the country accounted for more than 71.6% of global neurovascular devices market share in 2015 and is projected to grow remarkably over the coming years, essentially driven by the highly developed medical infrastructural facilities, a rapidly rising patient pool, increased healthcare expenditure, and technological innovations in neuroscience. The rise in healthcare spending is also observed to be a major growth driver for APAC neurovascular devices industry, especially across countries such as India, China, and Japan. In fact, Japan is slated to hold more than 47% of Asia Pacific neurovascular devices market by 2014. The rise in per capita income, low cost production facilities, and favorable healthcare insurance will further augment the regional growth.

Rise in GDP may also be a key factor promoting the growth of neurovascular devices industry in developing economies such as Brazil. Latin America, with Brazil at the helm, will observe the highest growth of 5.5% over 2016-2024, driven by the rising prevalence of brain-related disorders and an increase in the number of geriatric patients. Leading companies are concentrating on neurovascular research & development activities and expanding their footprint in the untapped regions of emerging economies to sustain their position in global neurovascular devices market.

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Neurovascular devices comprise embolic protection devices, liquid embolic coils, embolic coils, stent retrievers, flow diverters, carotid stents, balloons, neurovascular thrombectomy, intracranial stents, and intrasaccular devices. Flow diverters and stent retrievers are anticipated to exhibit the highest growth rate over 2016-2024. Thrombectomy neurovascular devices market is expected to register a revenue of more than USD 300 million by 2024.

Embolic coils dominated the product landscape of neurovascular devices industry by accounting for a share of more than 30% of the overall revenue in 2015. The increasing usage of these products in coiling and other neurovascular procedures will stimulate the industry growth. Speaking of which, neurovascular devices market from coiling procedures is slated to depict the maximum gain over 2016-2024, with a revenue estimation of more than USD 750 million by 2024. This growth can be attributed to the technological advancements embedded in these devices coupled with the rising number of personal and government funding for novel product development.

Driven by favorable reimbursement plans, neurovascular devices market from stenting procedure is predicted to record the highest CAGR over 2016-2024. Rising adoption of carotid stents and balloon catheters by neurosurgeons for agile treatment procedure will further fuel the industry growth.

Neurovascular devices find applications in stenosis, brain aneurysm, and ischemic strokes. The world is witnessing an exponential rise in the number of patients suffering from aneurysms and strokes. As per reliable sources, more than 4% of the population in America is suffering from aneurysms. Neurovascular devices market from ischemic strokes is estimated to observe the highest growth between 2016-2024. Brain aneurysm, having held a share of more than 70% of overall neurovascular devices industry in 2015, will depict a substantial growth rate over the coming years, due to increased penetration of aneurysms among the age group of 35 to 60, especially across emerging economies.

Strategic mergers & acquisitions are key growth strategies adopted by neurovascular devices market players for expanding their presence across the globe. Such collaborations also help companies concentrate on clinical trials to enable the marketing of cost-effective procedures.

 

Author Name :Saipriya Iyer

Pretreatment Coatings Industry to generate a massive revenue via metal applications over 2016-2024, high demand from the automotive sector to fuel the market growth

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Surging use of conversion coatings in metals to improve corrosion resistance and organic film adhesion will stimulate Pretreatment Coatings Market. The flourishing automotive sector across countries such as Taiwan, Japan, Malaysia, India, Indonesia, and China will also unravel more profitable avenues for the business. Powder coating industry, evaluated at USD 8.5 billion in 2015, is set to surpass USD 17 billion by 2024. The growing application of powder coatings in electronics, vehicles, farming equipment, and household devices subject to its anti-corrosive features can constructively influence the business roadmap. According to Global Market Insights, Inc.,” Pretreatment coatings industry revenue is projected to hit USD 15 billion by 2024, growing at a CAGR of 5.5% over 2016-2024.

U.S. Pretreatment Coatings Market size, by end-use, 2013-2024 (USD Million)
U.S. Pretreatment Coatings Market size, by end-use, 2013-2024 (USD Million)

 

Pretreatment coatings find extensive applications in aluminum, zinc-aluminum alloys & die castings, and metals. Aluminum application is expected to experience significant gains of 4.5% over 2016-2024, driven by the product usage across end-use industries such as food packaging and automobiles. Pretreatment coatings industry revenue from metal applications, which produced more than USD 6.5 billion in 2015, is slated to grow enormously over the coming years.

Considering the end-user trends, pretreatment coatings market is segmented into metal packaging, aerospace, automotive, cold forming, general industry, and coil. Pretreatment coatings market in the automotive sector, which collected a revenue of USD 2.8 billion in 2015, will record a CAGR of 4.5% over the period of 2016-2024. High consumer demand for visually appealing vehicles embedded with UV and temperature protection mechanisms will boost the business landscape. General industry end-use segment is expected to produce a revenue of more than USD 4.1 billion by 2024, growing at a rate of 5% over the coming seven years. The growth can be attributed to the extensive use of pretreatment coatings in architectural aluminum, HVAC, automobiles, office furniture, ventilation, and the manufacturing sector.

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Taking into consideration the topographical trends, UK pretreatment coatings market size is expected to grow at a CAGR of 3.5% over 2016-2024, with aluminum applications contributing significantly towards the regional revenue. Brazil pretreatment coatings industry revenue from aerospace sector is expected to reach USD 85 million by 2024. U.S. pre-paint conversion coatings industry sector is expected to grow at 6% over the next seven years and will accelerate pretreatment coatings industry size.

France metalworking fluids sector, which will grow at a CAGR of 2% over 2016-2024, is expected to propel pretreatment coatings industry expansion over the next few years. Enhanced usage of metalworking fluids as a corrosion inhibitor along with its ability to annihilate thermal deformation and dispose removed material will boost the revenue further.

China pretreatment coatings market is predicted to register a CAGR of 5.5% over the coming seven years, owing to increase in vehicle sales across the region along with beneficial norms subject to the manufacturing sector. Japan pretreatment coatings market is expected to witness a significant growth in future, with the cold forming end-use sector making considerable contributions toward the regional share.

Pre-paint conversion coatings, metalworking fluids, cleaners, anti-corrosive coatings, and final seals are the major products of pretreatment coatings market. Cleaners sector will grow at a rate of 4% during the period of 2016 to 2024, owing to its ability to reduce surface tension in stamping, machining, spinning, and bending processes. Its large-scale utilization in the metal finishing sector is expected to enlarge the business growth.

Anti-corrosion coatings market is forecast to grow significantly at a rate of 5% over the years ahead. The growth can be attributed to the product ability to shield the metal against moisture degradation, oxidation, and industrial chemicals. Metalworking fluids market is anticipated to record an annual growth rate of 3% over the span of few years, subject to its use in metal protection and metal treatment along with its ability to impart the best surface finish to metal cuttings.

AkzoNobel N.V., Axalta Coating Systems, Barton International Group, Kansai Paint Company Limited, Troy Chemicals, Abrasives Incorporation, The 3M Company, and Cym Materials S.A. are the major players of pretreatment coatings market.

Author Name :Dhananjay Punekar

U.S. smart water metering market to record huge gains over 2017-2024, high adoption across the commercial sector to accelerate the regional growth

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As the world experiences a tremendous need to conserve natural resources such as water, smart water metering market will gain considerable traction, subject to the rising demand for efficient water consumption. Smart meters help record real-time data and reduce water bills, thereby enabling water conservation. The deployment of smart water meters will augment the rising efforts to save water and prevent its unnecessary wastage, thereby stimulating smart water metering industry. A report by Global Market Insights, Inc., states that smart water metering market, worth more than USD 6 billion in 2016, will register a revenue of more than USD 14 billion by 2024.

Stringent regulations toward the conservation of water and the regulation of the water distribution network will propel smart water metering industry. As per the EC Directive 2000/60/EC, it is mandatory for respective nations to prioritize the prevention of water wastage and water conservation, especially in drought-ridden areas of the region. Technologically, smart water meters can be deployed based on two key technologies – automatic meter reading (AMR) and automatic meter infrastructure (AMI). AMR-based smart water metering market is slated to surpass 150 million units by 2024, primarily driven by the increasing adoption of this technology across myriad application sectors for the last two decades. AMR technology is also deployed in smart electric meters and smart gas meters, thereby stimulating global smart electric meter industry and smart gas metering systems market respectively.

Germany Smart Water Metering Market Size, By Application, 2016 (Million Units)
Germany Smart Water Metering Market Size, By Application, 2016 (Million Units)

Smart meters help curb water losses and streamline billing processes. Water utilization data gathered by AMI-based smart meters also help identify problems in water distribution and manage water allocation in an efficient manner, which eventually serve to understand consumer requirements. On these grounds, AMI-based smart water metering market size is slated to exceed 50 million units by 2024, with a CAGR projection of 10% over 2017-2024. While AMI technology is relatively advanced, its excessive cost may restrain the market growth over the next few years. This technology is widely deployed across residential and utility application sectors.

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Smart water meters, in general, find massive applications across the commercial, residential, and utility sectors. Smart water metering industry from commercial applications will witness a CAGR of more than 155 over 2017-2024, driven by rising water bills pertaining to the irregular supply of water. End-users of commercial applications have gauged the importance of water and the effects of unregulated resource spending on the application sector, owing to which smart water metering market from commercial applications is likely to witness enormous growth prospects. Commercial applications accounted for more than 35% of the overall smart water metering market in 2016.

Smart meters are widely used across residential applications, subject to the high demand for transparency in water utilization and billing. Smart water metering industry from residential applications will exceed 90 million units by 2024, pertaining to the rising need for efficient consumption tracking and water bill reduction.

AMI-based smart meters are particularly used across the utility sector, for efficient water allocation and management. Stringent regulations regarding water conservation will drive smart water metering market from utility applications, projected to grow at a CAGR of 13% over 2017-2024.

Glendale was the first city in the United States that set a benchmark for better utility management and responding to unexpected natural calamities such as droughts, by means of implementing smart meters to develop a smart grid network. Rising adoption of smart water meters and strict norms pertaining to accurate billing and water conservation will drive U.S. smart water metering industry, set to surpass USD 3 billion by 2024. Government regulations toward the accountability of NRW (non-revenue water) will also augment the regional growth.

UK smart water metering market is forecast to grow at a CAGR of 12% over 2017-2024, subject to the increasing demand for smart metering infrastructure. The government of Japan aims to achieve a 100% roll-out of smart water meters by 2025, which will propel Japan smart water metering industry, worth USD 300 million in 2016.

Companies operating in global smart water metering market are engaged in periodic mergers and acquisitions to consolidate their position. Key participants include Datamatic, Arqiva, Neptune Technology, Siemens AG, Diehl, Arad, Itron, Elster, Badger Meter, Aclara Technologies, Sensus, Xylem, Landis+Gyr, and Kamstrup.

Author Name :Saipriya Iyer