Smart Water Metering Market

Smart Water Metering Market Size

Smart Water Metering market is to exceed USD 4.0 billion by 2032 from USD 1.3 billion in 2021 at a CAGR of 10.8% in the coming years, i.e., 2022-32.

Smart Water Meters are used to calculate the volume of water used by a residential/ commercial building when supplied with water by a water supply system. These are devices that simplify the working for utilities & are precise in operation when compared to the manual meters used for measuring water consumption. Smart Water Meters provide an advantage by identifying any leaks and abnormal consumption, efficiently than the manual methods. The smart water metering enables automatic collection of consumption data & eliminate the manual meter reading. They also improve the efficiency and save costs. Smart water metering technology offers benefits to customers & to service providers aiding the growth of market. These meters help identifying any heavy use and protect by detecting any leakage. Water meters are also used to determine flow through a portion of the system.

Market Highlights

Smart Water Metering Market is expected to project a notable CAGR of 10.8% in 2032.

Smart Water Metering market is to exceed USD 4.0 billion by 2032 from USD 1.3 billion in 2021 at a CAGR of 10.8% in the coming years, i.e., 2022-32. Growing demand of accuracy in water billing solutions along with steps towards non-revenue water reduction are driving the growth of Smart Water Metering Market. An increased awareness for efficient use and saving of water resources is creating growth opportunity for the Smart Water Metering Market.

Smart Water Metering Market: Segments

Ultrasonic segment holds the largest share

Smart Water Metering Market is classified based on the Type into Ultrasonic, Electromagnetic, Smart Mechanical. Ultrasonic segment holds the largest share in the market and is also expected to grow in the forecast period owing to the higher rate of accuracy and have highest rate of growth due to their appropriate fitting communication.

AMI segment holds the largest share

Smart Water Metering Market is classified based on the Technology into AMI, AMR. AMI segment is expected to grow at a considerable rate in the forecast period. The data of meter is received by the host and sent to system which store data and provide the information in useful form.  These require less efforts for their functioning thereby manpower is less and similarly labor cost.

Market Dynamics                                            

Growth Drivers

Advancements in Technology & high Efficiency

Growing demand for smart water metering is gaining importance among providers of water utilities, as it helps enhancing efficiency by providing significant advantages over standard meters. These assist in improving and analyzing water usage and help in reducing water wastage thereby saving money. Adapting the new technologies like wireless and cellular connectivity help in reducing the wiring cost further enhancing remote identification and efficiency. The usage can be measured accurately using these devices.

Awareness Regarding Sustainable Use of Water

Due to urbanization, the water consumption has been increased and certain governments are taking initiatives to promote sustainable use of water and there has been an increased demand for the availability of water along with the electricity. So, these meters help in identification of the amount of water usage and installing these devices is driving the Smart Water Metering market growth due to the awareness.

Restraint

Growing Installation cost

The installation cost for these smart water meters is high when compared to the traditional/ conventional meters, which may oppose the growth of the market. Not everyone is aware about the existence of these in few countries, so the lack of awareness may oppose the growth of Smart Water Metering market.

Recent Developments

• In June 2022, San Jose Water Company received approval from state regulators to install smart water meter technology in homes and businesses in its area.
• In July 15, 2021, Anglian Water is moving along with the installation of 1.1 million newly upgraded water meters for homes and businesses as a part of 5 years project.

Smart Water Metering Market:

Key Players

• Kamsturp
• Itron
• Diehl 
• Landis + Gyr
• Badger Meter
• Neptune Technology Group Inc
• Sensus 
• BMETER
• Datamatic
• Electronet Equipments Private Limited
• Honeywell
• Aclara Technologies
• ZENNER
• Other Prominent Players

           (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Smart Water Metering Market: Regions

Smart Water Metering Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America dominated the global Smart Water Metering Market in 2021 owing to the stringent measures taken by their governments to reduce usage of non-revenue water and due to their high awareness regarding the installation of these smart meters. The market in Asia Pacific is expected to grow significantly in the forecast period owing to the rise in installation of water meters due to the increase in awareness about Smart Water Metering systems.

Impact of Covid-19 on Smart Water Metering Market

The outbreak of the COVID-19 pandemic has resulted in the economic slowdown across the world. Several countries had imposed lockdown and restricted travelling to control the spread of coronavirus. With the imposition of lockdown and travel bans in many countries, there was a huge disruption in the manufacturing industries. Covid-19 has affected manufacturing processes in industries & led to shutdown of many businesses. COVID-19 has impacted the smart water meter market slightly due to the imposition of lockdown in manufacturing industry.

Smart Water Metering Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Smart Water Metering Market report also contains analysis on:

Smart Water Metering Market Segments:

• By Application
  • Residential
  • Commercial
  • Industrial
• By Type
  • Ultrasonic
  • Electromagnetic
  • Smart Mechanical
• By Technology
  • AMI
  • AMR
• By Product
  • Hot Water Meter
  • Cold Water Meter
• Smart Water Metering Market Dynamics
• Smart Water Metering Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

Smart Water Metering Market Report Scope and Segmentation

Frequently Asked Questions (FAQ):