Globally, water utilities are considering technological innovations in water metering infrastructure to improve their operational efficiency. According to a UN report, 66% of the world’s population will be living in urban areas by 2050. This creates a scenario of a large population with no or poor access to water infrastructure. Countries are facing the constant issue of water loss and wastage. Also, governments are facing challenges in terms of developing sustainable infrastructure. Increasing breaches in access to water supply and sanitation, more water-intensive patterns of growth, growing populations, and water pollution are leading to increasing investments in the smart water metering infrastructure.
The global Smart Water Metering Market is expected to grow at a CAGR of 11.6% during the forecast period, from an estimated USD 3.7 billion in 2022 to USD 6.4 billion in 2027.
The North American region, followed by Asia Pacific, is estimated to be the largest market for smart water meters. North America is mainly due to the high installation rate of smart water meters by North American water utilities. The region is also the highest consumer of water in the world. According to the EPA, an average American family consumes more than 300 gallons of water per day at home. This leads to more demand for smart water metering in the region to manage water consumption and reduce water wastage.
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This research report categorizes the smart water metering market by meter type, technology, component, application, and region
Based on Meter type:
- Ultrasonic Meters
- Electromagnetic Meters
- Smart Mechanical Meters
Based on technology:
- AMI
- AMR
Based on Component:
- Meter & Accessories
- IT Solutions
- Communications
Based on application:
- Water Utilities
- Industries
Based on region:
- Asia Pacific
- Europe
- North America
- Middle East & Africa
- South America
The smart water metering market is characterized by the presence a mix of large international players with operational presence across the world and local players commanding a strong supply network in the domestic market. The leading players in the global smart water metering are BADGER METER, INC. (US), Sensus (US), Diehl Stiftung & Co. KG (Germany), Aclara Technologies (US), and Itron, Inc. (US)
Recent Developments
- In June 2021, Itron Inc. partnered with German IoT solutions firm Digimondo to help water utilities improve the management of distribution networks leveraging LoRaWAN
- In May 2022, Badger Meter, Inc. launched its ModMAG M2000 Electromagnetic flow meter with the BACnet MS/TP communication protocol.
- In December 2021, Diehl Metering helped the Maltese Utility Water Services Corporation (WSC) to reduce non-revenue water and overcome the challenges of low flow rates and high levels of limescale
- In July 2019, The City of Safford established a Smart Utility Network by partnering with Sensus. The technologies used in this network are Sensus iPERL residential water meters and the two-way FlexNet communication system.
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Objectives of the Study
- To define, describe, segment, and forecast the smart water metering market size, by technology, meter type, component, and application
- To provide detailed information on the major drivers, restraints, opportunities, and industry-specific challenges influencing the growth of the market
- To strategically analyze the market with respect to individual growth trends, prospects, and contributions of each segment to the market
- To analyze market opportunities for stakeholders and provide a detailed competitive landscape for market leaders
- To forecast the revenue of the market segments with respect to five main regions (along with countries), namely, North America, Europe, Asia Pacific, South America, and the Middle East & Africa
- To strategically profile key players and comprehensively analyze their market ranking and core competencies
- To track and analyze competitive developments such as new product developments, contracts & agreements, investments & expansions, and mergers & acquisitions in the smart water metering market
