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TECH DIVE: Why smart water meters are getting smarter

TECH DIVE: Why smart water meters are getting smarter

Smart water meter market size and drivers

In a market poised for growth to $5.12 billion by 2026, smart water metering companies are addressing how existing technologies can be tweaked, improved and advanced to stand out in a competitive market.

Traditional drivers for smart water meters have included resource optimisation, as well as enhanced water conservation and reduction of non-revenue water (NRW).

By giving customers more data, in theory, it should reduce how much water they use. Metered customers on average use 12 per cent less, according to UK utility Thames Water, who is fitting meters as part of a wider plan to help meet an expected shortfall of 130 million litres per day in London by 2025.

In terms of market size, in 2017 the market shipped 13.8 million units, according to industry analysts Frost & Sullivan. This is expected to grow to 82.1 million by 2026.

China and North America account for the largest market share, with the latter taking 44 per cent of the smart water meter market, respectively.

In China, rapid urbanisation, smart city investments, favourable policies and the 13th five-year plan has positively impacted the growth potential of the market.

In the US, there is huge demand for smart water metering due to the renewed focus on the reduction of NRW by the utilities. The added advantages of smart billing and leak detection have spurred the installation of smart water meters.

Meanwhile, in Europe, France, Germany and the UK are the biggest markets, followed by Spain and Scandinavia. Water utilities in these countries are heavily investing in the replacement of old meters with smart meters and implementing IoT-based infrastructure.

Tech developments: a “smart water meter with ears”

Danish company Kamstrup sees non-revenue water as one of the central challenges driving innovation, with many utilities locating leaks like “finding a needle in a haystack due to limited knowledge”.

Investigating further, the company and third-party agency conducted a survey among 37 utilities in Northern Europe, finding that 31 per cent of the water loss comes from leaks in service connections and 36 per cent from leaks on distribution mains.

Driven by this data and utility feedback, the company developed a new system that combines smart metering and acoustic leak detection technologies.

Called the flowIQ 2200, Kamstrup is calling it a “smart water meter with ears”. The creative launch video, more akin to a high-end German sportscar launch than water technology, can be seen below:

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