The global market for smart water meters is experiencing significant growth, driven by the increasing need for efficient water management and the development of smart city infrastructures. According to a report, the market size is projected to reach USD 9.04 billion by 2030, up from USD 4.61 billion in 2024, reflecting a Compound Annual Growth Rate (CAGR) of 11.9% during this period.
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Water utilities dominate the largest share of global smart water meters market. The water grid used for the distribution of water is a key part of water utilities infrastructure. Of all the utilities, today water leakage remains to be the major problem. This problem requires more effective leak detection and prevention processes. Smart metering of water is playing an integral part in this regard, enabling utilities to monitor consumption, detect early leakage systems, and become efficient overall. Given its continuous innovations with regard to smart metering technology, such a market is growing phenomenally, as more utilities are investing in modern versions to reduce water waste and improve their operations.
Key Drivers of Market Growth:
- Urbanization and Smart City Initiatives: The rising urban population necessitates the development of smart cities, which in turn drives the demand for advanced water management systems, including smart water meters.
- Non-Revenue Water (NRW) Reduction: Water losses due to leaks, theft, and unauthorized usage contribute to NRW. Smart water meters enable real-time monitoring and accurate measurement, helping utilities identify and address these issues promptly.
- Government Mandates and Policies: Governments worldwide are implementing policies that mandate the adoption of advanced metering infrastructure (AMI) to promote sustainable water management practices.
Market Segmentation
- By Application: The water utilities segment holds the largest share in the smart water meters market. Utilities are increasingly adopting smart metering solutions to monitor consumption, detect leaks early, and enhance overall efficiency.
- By Component: The meters and accessories segment, which includes flow meters, endpoints, encoders, and transmitters, is expected to dominate the market. The integration of AMI allows for real-time monitoring and automated data collection, reducing labor costs and improving accuracy.
Top Companies in Smart Water Meters Industry
- Badger Meter, Inc. (US),
- Sensus (Xylem) (US),
- Diehl Stiftung & Co. KG. (Germany),
- Landis+Gyr (Switzerland),
- Itron, Inc. (US),
- ZENNER International GmbH & Co.KG (Germany),
- Sagemcom (France),
- Arad Group (Israel),
- Honeywell International Inc. (US),
- Aclara (Hubbell) (US),
- Kamstrup (Denmark),
- Wasion Holdings International (China)among others…
The meters & accessories segment comprise flow meters, endpoints, encoders, registers, transmitters, radio modules, and antennas, important for accurate water consumption measurement. The size and type of meters vary according to the specific application and amount of water consumed among various residential, commercial, and industrial needs. Advanced metering infrastructure (AMI) permits real-time monitoring, automated data collection, and analytics that reduce labor and metering costs. In automation, R&D investments by manufacturers will tend to flourish as manual readings will be almost negligible. All these will transform and trigger innovations to move the segment.
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Europe stands as the third-largest market for smart water meters as of 2023. The region faces challenges such as increasing water tariffs and significant water losses due to poor management. In response, European countries are investing in intelligent water metering infrastructure to promote water conservation and reduce losses.