Growing Awareness about Depleting Water Sources Promotes Use of Water Meters Worldwide: TMR

Growing Awareness about Depleting Water Sources Promotes Use of Water Meters Worldwide: TMR

PR Newswire

ALBANY, N.Y., Oct. 12, 2020

- Worldwide government bodies are encouraging people to avoid water wastage as well as reduce water consumption. This factor is estimated to generate upward curve of demand for vendors in water meter market during 2019–2027

- Growing industrialization and infrastructural activities in Asia Pacific will boost growth of water meter market in assessment period

ALBANY, N.Y., Oct. 12, 2020 /PRNewswire/ -- In recent years, there is growing inclination among water utilities toward the use of water meters. Key reason behind growing popularity of water meters is their ability to offer a wide range ofadvantages.Water meters help service providers as well as consumers know the amount of water consumed. The ability of these devices to offer precise readings makes the billing techniques easy. At the same time, these devices help in analyzing water wastage and water consumption.

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Analysts at TMR highlight that due to all abovementioned advantages, the global water meter market is foreseen to expand at 4.7% CAGR during the forecast period of 2019 to 2027. This aside, growing focus of market players to incorporate advanced technologies in their productsis likely to further fuel market growth.

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Key Findings of Water Meter Market Report

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Water Meter Market: Key Driving Factors and Promising Avenues

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The water meter market can be segmented as follows:

Global Water Meter Market, by Type

Global Water Meter Market, by Application

Global Water Meter Market, by Region

Explore Transparency Market Research's award-winning coverage of the Global Electronics & Semiconductors Industry:

Smart Water Meter Market – The global smart water meter market is expected to reach 81.52 million units, in terms of volume, by 2026. The market is projected to expand at a CAGR of 13.42% from 2018 to 2026. According to the report, the global market is expected to continue to be influenced by a range of factors in the near future, such as rising penetration of smart water meters, growing popularity of IoT networks, rising development of the smart city infrastructure, and increasing water scarcity issues across the globe.

Magnetometer Market – the global magnetometer market is estimated to expand at a CAGR of ~ 6% during the forecast period, owing to numerous factors, regarding which, TMR offers thorough insights and forecasts in its report on the global magnetometer market.

A magnetometer is a device used to measure the direction and strength of the magnetic field at a particular location. Magnetometers are employed across several sectors such as energy, healthcare, aerospace & defense, consumer electronics, surveys, and industrial.

Mass Spectrometer Market – Growth in the pharmaceutical and life science markets, rise in demand for clinical analysis, increase in mergers and acquisitions, and increase in food and beverage testing has increased the penetration and growth of the mass spectrometer market globally. The market in North America is expanding at a significant CAGR of more than 8% on the backdrop of numerous technological innovations in advanced laboratory equipment.

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