Smart water leak detectors are electronic sensors used to detect water leakage and minimize water damage risk. Smart water leak detectors are small, soap-sized white boxes, which are placed on a floor near a water-bearing fixture, and usually runs on long-lasting batteries. Growing residential industry and technological advancements in smart water meter create lucrative opportunities for the global smart water leak detector market. Advantages provided by smart water leak sensors, such as safeguarding the premises from water loss and reducing water bill, drive the adoption of these sensors in residential and commercial applications. These devices run on batteries and can be placed near areas more susceptible to damage from water. These sensors are internet-enabled devices, typically combined with GPS chips and geographic information system (GIS) to detect and report any water leakage and damage to end users. The smart water meter technology enable operators to detect pipeline leakages, thereby reducing water losses and controlling water consumption.
COVID-19 scenario Analysis:
- Global smart water leak detector market has been significantly impacted by the COVID-19 outbreak. New projects throughout the world have stalled, which, in turn, have led to a significant decline in demand for these systems.
- Global factories have struggled to integrate new smart water leak detectors as workers have stayed in their homes, which has disrupted the global supply chains.
- The impact of COVID-19 on this market is temporary as just the production and supply chain is stalled. Once the situation improves, production, supply chains, and demand for these embedded systems are gradually going to increase.
Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
The smart water leak detector market is anticipated to expand at a higher growth rate, due to growing demand of smart sensors to minimize water leakage and to monitor water consumption. High initial investments and high deployment, are some of the main factors which will help to grow market during the forecast period. In addition, proliferation of the Internet of Things (IoT) and its incorporation into smart home would create plenty of opportunities for manufacturers to develop smart water leak detectors. Furthermore, leading companies are making efforts to upgrade their R&D activities to evaluate more application. These factor would create lucrative opportunities for the smart water leak detector industry.
The global smart water leak detector market trends are as follows:
Rapid growth rate in the smart water leak detector market in Asia-Pacific
High development emerging countries and taking initiative towards smart city project in Asia-Pacific create lucrative opportunities for the market during the forecast period. China offers tremendous potential for sensors with low raw material prices and the country’s large production facilities.
High level water shortage to drive the market growth
The importance of water conservation and increased knowledge of water shortage, leakage, illegal water tapping and other types of water wastage has triggered growth of efficient water management systems, which plays a major role in driving the global demand for smart water leak detector market.
Key benefits of the report:
- This study presents the analytical depiction of the global smart water leak detector industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global smart water leak detector market share.
- The current market is quantitatively analyzed to highlight the global smart water leak detector market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global smart water leak detector market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the smart water leak detector market research report:
- Who are the leading market players active in the smart water leak detector market?
- What would be the detailed impact of COVID-19 on the market?
- What current trends would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the smart water leak detector market?
- What are the projections for the future that would help in taking further strategic steps?
Smart Water Leak Detector Market Report Highlights
Key Market Players
Mueller Water Products, 3M, Pure Technologies, Honeywell, Siemens Industry, FloLogic, NEC Corporation, Omron Industrial, Water Alert (Dorlen Products), Raychem (Tyco)