Smart Water Meters Market Size & Growth Analysis to 2030

The global smart water meters market size is anticipated to register a significant CAGR of over 9% during the forecast period from 2021 to 2027. The increasing consumption of water, increasing investment in digitalization, and government initiatives are some major factors to drive the market growth. The increasing water scarcity, rapid urbanization, aging infrastructure, and leak detection are further anticipated to propel the market growth. Moreover, the increasing adoption of smart water meters in developed economies such as the US, UK, etc, is further expected to fuel the market over the forecast period. In addition, the increasing investment in smart homes, adoption of IoT-based smart metering, and smart water grid evolution are estimated to boost the market.

Market Drivers:

Water scarcity and resource management: The increasing global water scarcity and the need for efficient water resource management are driving the adoption of smart water meters. Smart water meters provide accurate and real-time data on water consumption, enabling utilities and consumers to monitor and manage their water usage more effectively, identify leaks, and promote water conservation.

Government regulations and water conservation targets: Governments and regulatory bodies around the world are implementing regulations and setting water conservation targets to promote sustainable water management practices. Smart water meters enable utilities to measure and monitor water consumption accurately, enforce conservation measures, and comply with regulatory requirements.

Non-revenue water reduction: Non-revenue water refers to water loss or wastage due to factors such as leaks, theft, or inaccurate metering. Smart water meters, with their advanced monitoring and leak detection capabilities, help utilities identify and address non-revenue water issues, reduce water losses, and improve revenue collection.

Operational efficiency and cost savings: Smart water meters eliminate the need for manual meter reading, reducing operational costs for utility companies. They also provide accurate and timely data on water consumption, enabling utilities to optimize their operations, detect abnormalities, and streamline maintenance activities. This results in improved operational efficiency and cost savings for utilities.

Improved billing accuracy and customer satisfaction: Smart water meters provide accurate data on water consumption, eliminating estimation errors and ensuring accurate billing for consumers. This improves billing accuracy, reduces disputes, and enhances customer satisfaction by providing transparency and empowering consumers to monitor and manage their water usage.

Integration with advanced metering infrastructure (AMI): Smart water meters are often part of advanced metering infrastructure (AMI) systems, which include communication networks and data management systems. AMI systems enable real-time data collection, remote monitoring, and automated billing. The integration of smart water meters with AMI systems improves data accuracy, enhances operational efficiency, and enables advanced analytics for better decision-making.

Technological advancements and IoT capabilities: Advancements in communication technologies, Internet of Things (IoT) capabilities, and data analytics drive the growth of smart water meters. These technologies enable seamless connectivity, data transmission, and remote management of water meters. IoT-enabled smart water meters can also integrate with other smart devices and systems to create a comprehensive water management ecosystem.

Aging water infrastructure and water loss management: Many countries face challenges related to aging water infrastructure and high levels of water loss. Smart water meters help utilities identify and address issues in the water distribution network, including leaks, bursts, and inefficient water usage. By providing real-time data on water flow and consumption, smart water meters aid in proactive infrastructure maintenance and water loss management.

Market Outlook:

Market Insights:

The global smart water meters market is bifurcated into technology, meter type, application, and geography. On the basis of technology, the market is further segmented into auto meter reading and advanced metering infrastructure. The advanced metering infrastructure (AMI) segment is expected to hold the largest revenue share of the market over the forecast period.  The increasing adoption by the water industry is one of the prominent factors to drive the segment growth. Furthermore, benefits associated with this technology such as two-way communication, leak detection are anticipated to drive the segment growth over the forecast period.

On the basis of application, the market is segmented into residential, industrial, and commercial. The residential segment dominated the global smart water meters market in 2020 and expected to maintain its dominance over the forecast period. The residential segment is further anticipated to grow at the fastest growth rate over the forecast period. The segment growth is attributed to the rapid urbanization, growing population, and rising development of smart cities around the world. The need for automated meter reading and billing accuracy is further anticipated to fuel the segment growth over the forecast period.

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The smart water meters comprehensive study offers an in-depth analysis of industry trends, market size, competitive analysis, and market forecast – 2021 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market, and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The smart water meters market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Market Segmentation:

By Technology:

• Auto Meter Reading (AMR)
• Advanced Metering Infrastructure (AMI)

By Meter Type:

• Ultrasonic Meter
• Electromagnetic Meter
• Mechanical Meter

By Application:

• Residential
• Industrial
• Commercial

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage:

Geographically, the smart water meters market report comprises dedicated sections centering on the regional market revenue and trends. The smart water meters market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, and the Rest of the World (RoW). The RoW segment consists of Latin America and the Middle East & Africa. The smart water meters market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance, and others. Smart water meters market estimates have also been provided for the historical years 2018 & 2019 along with forecasts for the period from 2021 – 2027.

Competition Assessment:

Some of the major market players operating in the global smart water meters market are Kamsturp A/S, Badger Meter, Inc., Diehl Metering GmbH, Landis+Gyr, and Itron, Inc. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• Kamsturp A/S
• Badger Meter, Inc.
• Diehl Metering GmbH
• Landis+Gyr
• Itron, Inc.
• Neptune Technology Group Inc.
• Aclara Technologies LLC
• Sensus
• B METER s.r.l.
• Honeywell International

Key Questions Answered by Smart Water Meters Market Report

• Global smart water meters market forecasts from 2021-2027
• Regional smart water meters market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2021-2027 covering 15 major countries from the aforementioned regions
• Smart water meters submarket forecasts from 2021-2027 covering the market by technology, by meter type, by application, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis pertaining to the smart water meters market
• Analysis of the key factors driving and restraining the growth of the global, regional and country-level smart water meters markets from 2021-2027
• Competitive Landscape and market positioning of top 10 players operating in the smart water meters market