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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Smart Water Meter Market Outlook
The global smart water meter market is expected to grow at a CAGR of about 19% in the forecast period of 2024-2032 to reach a volume of around 232.86 million units by 2032.
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North America Leading the Smart Water Meter Market
The smart water meter industry has seen a considerable rise in North America due to the significant advantages offered by smart water meters as well as government initiatives to support conservation of water as well as to integrate cities with internet/intranet-based services in the form of smart cities. These have seen a considerable rise of smart water meters in residential applications as compared to applications in the industrial sector. Since these apparatuses offer greater asset management, ease in maintenance and easier customer service, they are being considered as valuable investments. In the Asia Pacific region, the demand is expected to shoot up considerably, due to a rapidly growing population, increasing urbanisation and rising industrial development.
Smart Water Meter: Market Segmentation
Smart water meters are special water meters which, in addition to measuring flow of water to a particular region, are improved by means of connection to a local network or a wider network. These connections help the flow to be controlled from a remote location, thus eliminating the need for human intervention at those specific locations. These systems may also be equipped with ultrasound waves which can help detect leaks and cracks in the pipes with better precision and before they can cause damage to the entire system. It eliminates the need for noting readings, because billing can be done automatically through the meters and sent to consumers. Since these do not require human assistance, these may be installed in applications which are generally inaccessible to humans, like underground or underwater pipelines.
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The smart water meter industry can be segmented by type into:
- Electromagnetic Meter
- Ultrasonic Meter
- Mechanical Meter
- Others
It may be differentiated on the basis of water type into:
- Hot Water Meter
- Cold Water Meter
The market can be divided on the basis of technology into:
- AMR
- Advanced Meter Infrastructure (AMI)
It may be segmented by component as:
- Meters and Accessories
- IT Solutions
- Communications
The market may be divided by application into:
- Water Utilities
- Industries
- Others
The regional markets for smart water meter can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Technological Advancements Bolstering the Market Growth for Smart Water Meters
In an age where water can be scarce, smart water meters can be a valuable investment since they can detect and alert the consumers about leaks. Since they can detect changes in the pressure, flow, and temperature, they offer greater security, which can be a significant reason for the rise in the demand for these systems. Some electromagnetic or ultrasonic meters can also reduce moving parts in the apparatus, thereby ensuring less wear and tear. These factors are likely to increase the demand for smart water meters across all regions.
Key Industry Players in the Global Smart Water Meter Market
The report gives a detailed analysis of the following key players in the global smart water meter market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Xylem Inc.
- Aichi Tokei Denki Co. Ltd.
- Kamstrup A/S
- Diehl Stiftung & Co. KG
- Hubbell Incorporated
- Landis+Gyr AG
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Water Type |
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| Breakup by Technology |
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| Breakup by Component |
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| Breakup by Application |
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| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
Smart Water Meter Market Report Snapshots
Smart Water Meter Market Growth
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global smart water meter market is projected to grow at a CAGR of 19% between 2024 and 2032.
The major drivers of the market include the rising industrial development, increasing penetration of smart water meters, growing popularity of IoT networks, rising development of the smart city infrastructure, and the increasing water scarcity issues across the globe.
The significant advantages offered by smart water meters and government initiatives to support conservation of water are the key trends propelling the market's growth.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The types of smart water meter in the market are electromagnetic meter, ultrasonic meter, and mechanical meter, among others.
The water types in the market include hot water meter and cold water meter.
The technologies involved in the market are AMR and advanced metering infrastructure (AMI).
Meters and accessories, IT solutions, and communications are the components in the market.
The major applications in the market are water utilities and industries, among others.
The key players in the global smart water meter market are Xylem Inc., Aichi Tokei Denki Co. Ltd., Kamstrup A/S, Diehl Stiftung & Co. KG, Hubbell Incorporated, and Landis+Gyr AG, among others.
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