Global investment in smart water meters will total $4.2 billion from 2010 to 2016, according to a report from Pike Research.
Annual market revenues are projected to reach $856 million by the end of the period, a 110 percent increase over 2010 levels.
By 2016, Boulder-based Pike Research forecasts that the worldwide installed base of smart water meters will reach 31.8 million units, up from 8 million in 2010.
In the face of continuing growth in water demand and a large percentage of “non-revenue water” in the distribution system, water utilities are increasingly turning to smart water infrastructure technologies as a means of improving the efficiency of their operations.
Advanced sensor networks and automation systems will enable more accurate leak detection throughout the water distribution system, and one of the most important strategies for utilities will be the installation of smart water meters at the customer premise.
