Market Trends

The water crisis has been a threat to the world since quite a few decades now. According to WHO and UNICEF, 2.1 billion people lack safe potable water at home, and 4.5 billion people lack safely managed sanitation .  In order to alleviate this poignant situation, application of water meter has become imperative in the residential sector to keep track of the quality of water and its usage. Now, this is largely stroking the water meter market size, which already had swelled up to approximately $4 billion to $4.5 billion in 2018 as per the market outlook report by IndustryARC’s analyst. Furthermore, due to the continuously growing need of water metering, the water meter market growth is estimated to be an astonishing 10% to 15% in terms of CAGR during the forecast period of 2019 to 2025.  Water scarcity and drought had become a ubiquitous peril in many parts of Europe during the last decade. Moreover, according to the European Commission, the problem of water was a concert to as much as