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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
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.
Smart Water Meter Market Report Snapshots
Smart Water Meter Market Growth
Smart Water Meter Market Regional Analysis
*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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