According to a report released by IMS Research, the market for advanced water meters will continue to grow, forecast to reach 11M units in 2016. The report estimates the current global market at 5.5M units and $500M in revenue, more than 70% of which is based in North America.
The report further suggests that while one-way meters make up a larger portion of the current market, two-way meters will see faster growth. It’s estimated that two-way units will account for 1/3rd of all units sold in North America by 2016.
cc image courtesy of Beige Alert on Flickr