According to IMARC Group’s latest report, titled “Smart Water Meter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global smart water meter market reached a value of US$ 6.31 Billion in 2021. Smart water meters represent devices that measure water flow and use wireless communication to connect to local or wide area networks. This enables remote location monitoring and infrastructure maintenance by monitoring pressure, leakage, wastage, etc., using inbuilt sensors. Smart water meters also facilitate automatic billing, customer management, including detection and protection against tampering attempts, and analysis of other data.
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Elevating levels of urbanization and the rising global population are contributing to the growing demand for water across the globe. As a result, conventional analog metering systems are gradually being replaced by smart water meters to receive instant and real-time information about water consumption. This is further being supported by numerous government initiatives to conserve water by ensuring every household and business firm has a smart meter. Besides this, these meters help in reducing the overall labor costs and offer relatively more accurate billing by detecting thefts. Additionally, they aid water utilities in adjusting the prices based on the season or time of the day and remotely cutting off the water supply in case of overdue bills. Various other factors, including the development of LPWA (low power wide area) network technologies to provide enhanced coverage and connectivity for smart water meters, are anticipated to catalyze the smart water meter market growth in the coming years. Looking forward, IMARC Group expects the global smart water meter market to reach US$ 12.01 Billion by 2027, exhibiting at a CAGR of 11.9% during 2022-2027.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- Badger Meter
- Kamstrup A/S
- Diehl Stiftung & Co. KG
- Landis+Gyr, Aclara Technologies LLC (Hubbell Incorporated)
- Sensus (Xylem Inc.)
- Itron Inc.
- Zenner
- Neptune Technology Group (Roper Technologies)
Market Segmentation:
Breakup by Product:
- Electromagnetic Meter
- Ultrasonic Meter
- Electromechanical Meter
- Others
Breakup by Meter Type:
- Smart Hot-Water Meter
- Smart Cold-Water Meter
Breakup by Configuration Type:
- Automated Meter Reading (AMR)
- Advanced Metering Infrastructure (AMI)
Breakup by Component:
- Meters & Accessories
- IT Solutions
- Communication System
Breakup by Application:
- Water Utilities
- Commercial
- Industrial
- Residential
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
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