The Water Leak Sensors Market is expected to reach US$ 3,462.4 Million by 2032, up from US$ 1,777.6 Million in 2022, at a CAGR of 6.9 percent during the forecast period.
The integration of the Internet of Things (IoT), artificial intelligence (AI), cloud or edge-based services, and their growing use in smart homes are expected to drive sales of water leak sensors. However, ineffective water systems and a misunderstanding of the importance of water leak sensors are likely to stymie market growth.
Instead, businesses are increasing their R&D efforts in order to investigate new applications and create profitable market opportunities.
The intricate water infrastructure in developed countries such as the United States, the United Kingdom, and others can withstand pipe corrosion, breakage, or crack formation due to ageing. As a result, the demand for water leak sensors grows. Furthermore, as leak detection technology advances and innovates, market trends are expected to grow.
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The market is anticipated to grow as a result of several infrastructure renovations, new residential and non-residential construction projects, and other factors. The market’s numerous established and up-and-coming players help to fuel the expanding demand.
Connected systems are expected to contribute significantly to the projects’ sustainability goals and rank among the most crucial elements of smart water management software. This broadens the appeal and use of water leak detectors.
Market participants of the water leak sensors:
- RLE Technologies
- Yash Global Electronics Security Solution Private Limited
- Leaksense Company Limited
- Honeywell International Inc.
- PA Vision Sdn Bhd
- Honeywell International
- Vivint Inc.
- Samsung Electronics
- Glentronics, Inc.
- SimpliSafe
- Fibar Group
- D-Link Corporation
- Insteon, Inc.
- SDI Technologies Inc. (iHome)
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Some of the recent developments in the Water Leak Sensors market are:
- In October 2021, ABB collaborated with a Danish water environment specialist to develop the next generation of smart water solutions that encourage more careful water use. With this, client will be able to better control water availability and boost plant operational efficiency in both process and energy optimization with these technologies.
- In 2020, Primayer announced its support to Beacon Project in Nepal which aims to bring decent toilets, clean water, and good hygiene to people residing in Lahan, in Southeast Nepal.
- In 2019, Gutermann AG launched the world’s first Zonescan NB-IoT leak logger for permanent monitoring of water distribution mains, which is a fully correlating system that can identify quiet leaks.
- In December 2021, ABB launched an electromagnetic flowmeter with bidirectional communication to power intelligent water loss management. The AquaMaster 4 Mobile Communication units can communicate through 4G-LTE and NB-IoT networks, allowing plant engineers to stay up to date on the status of the water systems.
Key Segments Profiled In The Water Leak Sensors Market Survey
By Test Type:
- Electroretinogram (ERG)
- Multifocal Electroretinogram (mfERG)
- Electro-Oculogram (EOG)
- Visual-Evoked Responses (VER)
By Modality:
- Fixed
- Portable
By End User:
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Diagnostic Imaging Centers
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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