Smart Water Metering Market Size, Share, Industry, Forecast and outlook (2023-2030)
Global Smart Water Metering Market is segmented By Application (Industrial, Residential, Commercial), By Meter Type (Mechanical Meter, Electromagnetic Meter, Ultrasonic Meter), By Technology (Advanced Metering Infrastructure, Automatic Meter Reading), By Component (Communications, Meters & Accessories, IT Solutions), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
Smart Water Metering Market Report Overview
The global smart water metering market report provides an analysis of the market shares, size, recent trends, future market outlook, and competitive intelligence. The demand for smart water metering solutions is increasing due to the need for efficient water management is on the rise. The market is witnessing significant growth in the Asia-Pacific region. The competitive rivalry is intensifying with major players such as Arad Group, Honeywell International, Siemens AG and others actively operating in the market.
Smart Water Metering Market Scope and Summary
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Metrics |
Details |
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Market CAGR |
10.1 |
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Segments Covered |
By Application, By Meter Type, By Technology, By Component, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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A smart water meter measures water flow and uses wireless communication to connect to local or wide area networks allowing remote location monitoring and infrastructure maintenance through leakage detection and automatic billing and customer management including detection and countering tampering attempts. Smart meters are battery-powered and thus low-power devices play a crucial role in defining system configurations.
Smart Water Metering Market Dynamics and Trends
The need for smart water metering to improve water consumption and services focus on reducing non-revenue water are the driving factors for the growth of the market. The main benefits of the smart water system are the provision of accurate and regular readings to the centralized metering application, freed-up personnel, and avoiding a human factor from the data collection, processing, and billing. An additional profit is introduced by the quick leak identification which allows for preventing substantial water losses or property damages.
Companies are focusing to launch smart water metering solutions to improve water consumption. For instance, The ADD GRUP has introduced a smart water prepayment solution with multi-services and features that includes ADD water meter, a shut-off valve, a LoRaWAN gateway, a user interface, and a smart measuring system for remote reading and data management. Adding to this, manufacturers are also concentrating on combining IoT concepts with LPWAN communication technology. For instance, WAVIoT has developed integrated solutions for automated metering infrastructure. WAVIoT offers state of an art metering cost-effective solutions with extraordinary scalability.
However, the Lack of government initiatives is the key restraint hindering market growth globally. One of the most significant barriers to the adoption of advanced water metering systems is the high cost of deployment and the unsuitability of traditional communications systems.
Smart Water Metering Market Segment and Shares
Based on the meter type, the smart water metering market is classified into mechanical meters electromagnetic meters and ultrasonic meters. The ultrasonic meter holds remote reading capabilities without the use of any add-on devices. The ultrasonic meter enables efficient detection of leaks, bursts, reverse flows, etc. and thereby lowering the amount of Non-Revenue Water in the distribution network and preventing revenue loss. Companies are launching smart water meters related to ultrasonic meters. For instance, Kamstrup has launched flow IQ 2100, and flowIQ 3101 ultrasonic smart water meters that are suited for commercial and industrial uses. These meters are made of metal and the meter house is fully watertight.
Smart Water Metering Market Geographical Analysis
The North American smart water metering market size was worth USD YY million in 2019 and is estimated to reach USD YY million by 2026, at a CAGR of 10.1 during the forecast period. Rising initiatives and campaigns by governmental and non-governmental organizations to save water are fueling industry growth in North American countries like the U.S. and Canada. For instance, The US state of California is one of the leading regions, with cities installing smart water meters to help consumers improve the management of water consumption through access to real-time usage data.
Adding to this, Pleasanton City is deploying some 22,000 smart water meters in a USD 7 million initiative whilst the East Valley Water District invested USD 2 million with Equarius Waterworks of Torrance for the supply and installation of smart meters over five years. Furthermore, Key players in North America, particularly in the USA, are focusing to extend their market presence. For instance, U.S. water technology company Xylem has bought Sensus USA, a provider of advanced metering technologies to utilities, for around USD 1.7 billion in cash.
Smart Water Metering Companies and Competitive Landscape
The Smart Water Metering market is competitive with existing players in the market. Some of the major players include Landis+Gyr, B Meters, Neptune Technology Group, Aclara Technologies, Datamatic, Badger Meter, Kamstrup, Zenner, Xylem inc, and Arad Group.
In July 2019, SMART.MET has launched the prototyping of new smart water metering solutions.
In September 2019, McWane India has launched a new Complete End-to-End Smart Water Metering Solution.
Why Purchase the Report?
- Visualize the composition of the Smart Water Metering in terms of various types of applications, meter types, technologies, and their components highlighting the key commercial assets and players.
- Identify commercial opportunities in the Smart Water Metering market by analyzing trends and co-development deals.
- Excel data sheet with thousands of data points of Smart Water Metering market-level 4/5 segmentation.
- A PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
The Smart Water Metering report would provide access to an approx, 69 data tables, 54 figures, and 185 pages.
Target Audience
- Service Providers/ Buyers
- Industry Investors/Investment Bankers
- Education & Research Institutes
- Research Professionals
- Emerging Companies
- Manufacturers