Smart water leak sensors or detectors play an essential role in ensuring the safety of homes and other premises by detecting the water leakage and preventing the risk of water damage. These sensors come in various configurations such as fixed and portable to cover diverse applications in the residential and commercial sectors. Technologies such as Wi-Fi, Zigbee, and Z-Wave are some of the widely used wireless technologies in the smart water leak sensor market. The wireless smart water leak sensors offer customers with advantages such as remote monitoring.
MARKET SCOPE
The "Global Smart Water Leak Sensor Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the smart water leak sensor market with detailed market segmentation by type, technology, application, and geography. The report provides key statistics on the market status of the leading smart water leak sensor market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global smart water leak sensor market is segmented into fixed sensors and portable sensors.
- On the basis of technology, the market is segmented into Wi-Fi, zigbee, z-wave, and others.
- Based on application, the market is segmented into residential, commercial, and industrial.
MARKET DYNAMICS
Drivers:
- The advantages offered by smart water leak sensors such as safeguarding the premises from water damage and reducing water bill are driving the adoption of these sensors in residential and commercial applications.
- The rising trend of smart homes, Internet of things (IoT) and automation in industries are some of the other factors that are anticipated to fuel the growth of smart water leak sensor market during the forecast period of 2019 to 2028.
Restraints:
- Initial installation costs, issues related to consistency of wireless networks, and concerns related to false triggering of sensors are some of the factors that could affect the growth of smart water leak sensor market during the forecast period.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The smart water leak sensor market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the smart water leak sensor market in these regions.
IMPACT OF COVID-19 ON SMART WATER LEAK SENSOR MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the smart water leak sensor market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from smart water leak sensor market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the smart water leak sensor market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Alert Labs Inc.
- BROWAN COMMUNICATIONS
- Flo Technologies, Inc.
- Lifelong Online
- Phyn LLC
- Tantiv4 Inc
- Watts
- Waxman Consumer Products Group, Inc. (LeakSmart)
- Samsung
- SmartThings Inc.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.