Global Smart Water Metering Market

Global Smart Water Metering Market Size, Share, Growth Analysis, By Technology(Automatic Meter Reading, Advanced Meter Infrastructure), By Component(Meter & Accessories, IT Solutions), By Application(Residential, Commercial) - Industry Forecast 2023-2030


Report ID: SQMIG45I2126 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 89 | Figures: 76

Global Smart Water Metering Market Insights

Smart Water Metering Market size was valued at USD 7 billion in 2021 and is poised to grow from USD 7.7 billion in 2022 to USD 16.51 billion by 2030, growing at a CAGR of 10% in the forecast period (2023-2030).

The purpose of smart water metering is to enable utilities to automatically collect consumption data, increase efficiency, do away with manual meter reading, and save costs. Additionally, the Wi-Fi water meter used by the Smart water metering system connects LANs or wide area networks, enabling remote location monitoring and infrastructure maintenance through leak detection. The smart water metering system can also be used to bill for natural gas, energy use, and water in the commercial, residential, and industrial sectors. Smart electronic water meters also provide dependable monitoring options and are outfitted with cutting-edge water mapping technologies used across a water utility's supply chain.

The COVID-19 outbreak has had a minor effect on the market for smart water meters, as a result of the worldwide industrial base being placed under lockdown. The continuous goals of the smart city will be achieved by initiatives taken by numerous organizations to develop new intelligent metering systems. Additionally, in the second quarter of the pandemic, the government and several players started to adopt innovative smart metering technologies. For instance, at the German factory for the Wasserverband Weddel-Lehre, E.ON installed more than 20,000 intelligent meters. Additionally, over a ten-year period, the business expects to install nearly 2.5 million sophisticated meters.

US Smart Water Metering Market is poised to grow at a sustainable CAGR for the next forecast year.

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Global Smart Water Metering Market Segmental Analysis

Smart Water Metering Market is segmented based on technology, component, application and regions. Based on technological analysis the Smart Water Metering Market is further sub segmented into automatic meter reading, advanced meter infrastructure segments. Based on components, the Smart Water Metering Market is segregated into meter & accessories, IT solutions and communication segments. Based on the basis of application, the Smart Water Metering Market is segmented into residential, commercial and industrial segments. The regional insights of the Smart Water Metering Market are into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.

Smart Water Metering Market Analysis by Technology

The auto meter reading segment holds the lucrative segment as compared to auto meter reading’s market share, but in the years to come, the advanced metering infrastructure segment will overtake the market for smart water meters due to the operational benefits of two-way communication and greater accuracy. Auto meter reading meters are not favored in the present roll-outs for smart water metering since they only have a one-way connection from utilities to the customer.

Smart Water Metering Market Analysis by Application

As in previous years, the residential segment is expected to rule the market. Due to global population growth and urbanization, increased sector clients will be a primary driver of this expansion. Every region has a significant amount of municipal water use, thus the residential sector uses the majority of it. Water is a crucial raw ingredient and coolant in many businesses across the world, making the industrial sector the second largest application sector after the residential one.

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Global Smart Water Metering Market Regional Insights

The European market dominated the sector and in order to gain economic advantages and encourage sustainable water use, the European market region has implemented many initiatives. These elements, together with more consumer knowledge of smart meters in this region than in other regions, have caused it to have a significant market share. Additionally, the region is home to a large number of independent nations that are implementing these roll-outs with government assistance.

North America is the market's second-largest region after Europe. The U.S. is the largest nation in the area and home to several important companies in the market for smart water meters. In recent years, the deployment of smart meters has grown significantly in Canada.

The highest growth rate is expected for the Asia-Pacific area, with China and other Southeast Asian nations serving as the region's growth engines. The Gulf Cooperation Council (GCC) countries, Brazil, and Mexico are the top countries in rolling out installation plans for these systems, and it is anticipated that the Middle East, Africa, and Latin America will all experience gradual growth.

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Global Smart Water Metering Market Dynamics

Smart Water Metering Market Driver

Increasing practices of sustainable water management systems is driving the growth of the market.

  • The governments of numerous nations are taking the necessary actions to encourage the sustainable use of water. These actions have been taken as a result of the water demand increasing tremendously over the past ten years due to urbanization and a rapidly growing population. Due to the rise in energy demand, new businesses and places of employment have emerged. Sustainable use has taken on importance in order to meet the water demand that will be present and future. These systems are the greatest option since they have the ability to track water usage across a water utility's supply chain. This has increased the number of water utilities implementing them, which is propelling the growth of the smart water metering market.

Economic advantages over other products will drive the growth of the market.

  • Smart water meters are not only a practical answer in terms of operation, but they are also affordable for both users and water utilities. These metres are a one-time investment that require very little maintenance and can be used for many years. Customers are drawn to precise billing because they can keep track of how much water they have used and get charged accordingly. By doing this, there is no danger that the service provider and the end user will miscommunicate. The benefits of these installations are greatest for those industries that consume large amounts of water, such as the food and beverage sector, the textile industry, and others.

Smart Water Metering Market Restraint 

  • Despite the numerous benefits that smart water meters offer, a sizable section of the global population is unaware that these services even exist. Smart water metering is now only barely adopted in affluent nations and barely adopted in developing economies. This factor may limit market expansion within the forecasted time frame. Water companies must also make significant financial investments to ensure that every consumer they serve has a smart water meter installed. This inevitably causes clients to experience significant financial hardships. In the ensuing years, this may have a negative effect on this market.

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Global Smart Water Metering Market Competitive Landscape

The demand for smart water metering to optimize water use and the demand for accurate billing are significant factors influencing the growth of the worldwide smart water metering market. Additionally, utilities' increased focus on lowering non-revenue water is anticipated to fuel market expansion. However, a major impediment to early adoption in emerging and key players is the absence of supporting government measures, which restrains the market's expansion.

Smart Water Metering Market Top Players Company Profiles 

  • Kamsturp
  • Itron
  • Landis + Gyr
  • Honeywell International Inc.
  • Badger Meter, Inc.
  • Sensus USA Inc.
  • Diehl Stiftung & Co. KG
  • Neptune Technology Group Inc.
  • Siemens AG
  • Schneider Electric SE
  • Elster Group GmbH
  • Aclara Technologies LLC
  • Arad Group
  • Holley Technology UK Ltd.
  • Master Meter Inc.
  • Mueller Systems LLC
  • B METERS s.r.l.
  • Jiangxi Sanchuan Water Meter Co., Ltd.
  • CyanConnode Holdings plc
  • Zenner International GmbH & Co. KG

Smart Water Metering Market Recent Developments

  • In July 2021, As part of a 5-year programme, Anglian Water is actively installing 1.1 million freshly updated water meters for homes and businesses while spending more than USD 231.06 million. This makes it possible for the corporation to conserve future water resources with its long-term demand management approach.
  • In June 2021, Itron partnered with the German IoT company digimondo to use LoRaWAN to assist water utilities in better managing their distribution networks. This makes it possible for the utilities to build and run their LoRaWAN-based water meter reading networks remotely.

Global Smart Water Metering Key Market Trends

  • The growing demand for accurate water billing solutions, the market share for smart water metering is anticipated to expand significantly throughout the forecast period. The market has also grown as utilities have increased their attention on cutting non revenue water. Additionally, the necessity for smart water metering to optimize water use is anticipated to drive the market's growth throughout the anticipated time frame.

Global Smart Water Metering Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analysis, the auto meter reading segment holds the lucrative segment as compared to auto meter reading’s market share. The residential segment is expected to rule the market. Due to global population growth and urbanization, increased sector clients will be a primary driver of this expansion. The European market dominated the sector and in order to gain economic advantages and encourage sustainable water use, the European market region has implemented many initiatives.

Report Metric Details
Market size value in 2021 USD 7 billion
Market size value in 2030 USD 16.51 billion
Growth Rate 10%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Technology
    • Automatic Meter Reading, Advanced Meter Infrastructure
  • Component
    • Meter & Accessories, IT Solutions, Communications
  • Application
    • Residential, Commercial, Industries
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Kamsturp
  • Itron
  • Landis + Gyr
  • Honeywell International Inc.
  • Badger Meter, Inc.
  • Sensus USA Inc.
  • Diehl Stiftung & Co. KG
  • Neptune Technology Group Inc.
  • Siemens AG
  • Schneider Electric SE
  • Elster Group GmbH
  • Aclara Technologies LLC
  • Arad Group
  • Holley Technology UK Ltd.
  • Master Meter Inc.
  • Mueller Systems LLC
  • B METERS s.r.l.
  • Jiangxi Sanchuan Water Meter Co., Ltd.
  • CyanConnode Holdings plc
  • Zenner International GmbH & Co. KG
Customization scope

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  • Company profile
  • Market dynamics & outlook
  • Region

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Smart Water Metering Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Smart Water Metering Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Smart Water Metering Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Smart Water Metering Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Smart Water Metering Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Smart Water Metering Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Smart Water Metering Market size was valued at USD 7 billion in 2021 and is poised to grow from USD 7.7 billion in 2022 to USD 16.51 billion by 2030, growing at a CAGR of 10% in the forecast period (2023-2030).

The demand for smart water metering to optimize water use and the demand for accurate billing are significant factors influencing the growth of the worldwide smart water metering market. Additionally, utilities' increased focus on lowering non-revenue water is anticipated to fuel market expansion. However, a major impediment to early adoption in emerging and key players is the absence of supporting government measures, which restrains the market's expansion. 'Kamsturp', 'Itron', 'Landis + Gyr', 'Honeywell International Inc.', 'Badger Meter, Inc.', 'Sensus USA Inc.', 'Diehl Stiftung & Co. KG', 'Neptune Technology Group Inc.', 'Siemens AG', 'Schneider Electric SE', 'Elster Group GmbH', 'Aclara Technologies LLC', 'Arad Group', 'Holley Technology UK Ltd.', 'Master Meter Inc.', 'Mueller Systems LLC', 'B METERS s.r.l.', 'Jiangxi Sanchuan Water Meter Co., Ltd.', 'CyanConnode Holdings plc', 'Zenner International GmbH & Co. KG'

The governments of numerous nations are taking the necessary actions to encourage the sustainable use of water. These actions have been taken as a result of the water demand increasing tremendously over the past ten years due to urbanization and a rapidly growing population. Due to the rise in energy demand, new businesses and places of employment have emerged. Sustainable use has taken on importance in order to meet the water demand that will be present and future. These systems are the greatest option since they have the ability to track water usage across a water utility's supply chain. This has increased the number of water utilities implementing them, which is propelling the growth of the smart water metering market.

The growing demand for accurate water billing solutions, the market share for smart water metering is anticipated to expand significantly throughout the forecast period. The market has also grown as utilities have increased their attention on cutting non revenue water. Additionally, the necessity for smart water metering to optimize water use is anticipated to drive the market's growth throughout the anticipated time frame.

The European market dominated the sector and in order to gain economic advantages and encourage sustainable water use, the European market region has implemented many initiatives. These elements, together with more consumer knowledge of smart meters in this region than in other regions, have caused it to have a significant market share. Additionally, the region is home to a large number of independent nations that are implementing these roll-outs with government assistance.

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