Asia-Pacific Region to Achieve 25 Percent Smart Meter Penetration by 2025, says Frost & Sullivan
Growth opportunities supported by renewed focus on metering, evolving business models, and market consolidation
SINGAPORE, March 14, 2018 /CNW/ -- The latest Frost & Sullivan analysis of the Asia-Pacific water meter market finds that the market is undergoing rapid transformation due to renewed focus on metering and sub-metering, evolving business models, and market consolidation. Growth will be augmented by the need to reduce non-revenue water (NRW), lower operational expenditure, improve billing efficiency, and bring about better demand management.
Frost & Sullivan's research expects the Asia-Pacific region to achieve 25 percent smart meter penetration by 2025 as a result of the increasing use of disruptive business models such as Metering-as-a-Service (MaaS) and static metering technology, which are set to subsidize overall meter costs significantly. Water Meter Market in Asia-Pacific, Forecast to 2022 analyzes key market dynamics, drivers, restraints, forecast and trends, meter type, and market growth opportunities. Competitive profiles for key players such as Iltron, Elster, Sensus, and Kamstrup are also provided.
Click here for complimentary access to more information on this analysis and to register for a Growth Strategy Dialogue, a free interactive briefing with Frost & Sullivan's thought leaders.
"As interest and adoption of static metering and MaaS increase in the Asia-Pacific region, operational and maintenance costs associated with water networks will decrease. Taking steps toward consumer engagement will also improve customer service and manage demand," said Frost & Sullivan Environment and Water Senior Industry Analyst Hari Raamanathan.
In a nascent and highly fragmented market, Raamanathan recommends that companies focus their efforts on unexplored markets such as Indonesia, Vietnam, and the Philippines. These markets offer high growth potential and are expected to reap immense benefits when smart water network improvements occur.
Further strategic imperatives for growth in the Asia-Pacific water meter market include:
- Companies prioritizing flexibility of meter configuration and payment models for increased penetration;
- Integrating data processing and analytics packages with meter products;
- Meeting smart city visions by designing and delivering entire Internet of Things networks; and
- Developing capabilities to offer scalable, end-to-end metering solutions and services.
"Despite notable growth opportunities, metering adoption will be restrained by a lack of capital. Many water utilities in the region, especially in South East Asia, are experiencing an acute financial crisis due to chronic underfunding and low water tariffs," observes Raamanathan.
"This weak financial state has led to poor maintenance and infrequent rehabilitation of network infrastructure, resulting in further losses due to increasing NRW levels. Given this situation, externally-financed installations and retrofits of existing water networks with advanced metering devices could be just what is required to stop this loss spiral," he added.
Water Meter Market in Asia-Pacific, Forecast to 2022 is part of Frost & Sullivan's Environment and Water Growth Partnership Services Program.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion.
Water Meter Market in Asia-Pacific, Forecast to 2022
P98F_15
Contact:
Melissa Tan
Corporate Communications – Asia Pacific
P: +65 6890 0926
F: +65 6890 0999
E: [email protected]
SOURCE Frost & Sullivan
Share this article