Smart Water Metering Market Size & Growth | Report 2022, 2028

The smart water metering market is expected to be valued at US$ 3,359.84 million in 2022 and is expected to reach US$ 5,954.65 million by 2028; it is estimated to grow at a CAGR of 10.0% from 2022 to 2028.

Different nodes of the smart water metering market ecosystem include component suppliers, smart water metering market players, and end users. The components suppliers in the global smart water metering market provide different components such as display panels, valves, pins, connector slots, and other components to the smart water meter system manufacturers. The smart meter market players then utilize the components while assembling those components to make the final products. The key smart water metering market players include Arad Ltd, Badger Meter Inc, Bmeters SRL, Diehl Stiftung & Co KG, Itron Inc, Kamstrup AS, Mueller Water Products Inc, Neptune Technology Group Inc, Sensus USA Inc, and WAVIoT Integrated Systems LLC. 

These companies then collaborate with different smart water meter system integrators and different governments to integrate smart water meters into any water distribution infrastructure across different projects. Many companies operating across different nodes of the smart water metering market ecosystem have been analyzed to get a holistic view of the overall smart water metering market size across the world.

Further, Asia Pacific is expected to highest smart water metering market growth during the forecast period. This can be attributed to the increasing urbanization across emerging countries such as India and Southeast Asian countries. Moreover, the development of smart cities across the region is augmenting the growth of smart grids, which is again bolstering the demand for smart and automated systems for city operations management. In addition, governments across India and other emerging Asia Pacific countries have been launching initiatives to develop smart grid infrastructure in their respective countries, which is further likely to boost the deployment of smart water meters across the region. For instance, in September 2022, Pune Municipal Corporation (PMC) of India announced its plans to deploy more than 275,000 smart water meters across different locations of the city. Such initiatives are expected to generate new market opportunities for smart water metering market players during the forecast period.

Strategic Insights

Impact of COVID-19 Pandemic on South America Smart Water Metering Market

The COVID-19 pandemic led to a strong decline in the shipments of overall water meters across South America, which also impacted the deployment of smart water meters across the region. According to Synergy BV (one of the leading energy companies in South America), the overall shipments of water meters across South America declined by 11% during the FY 2020 due to factors such as lack of availability of labor, increased demand and supply gap due to supply chain disruption challenges, and delay in smart water meter deployment and smart grid integration projects across the region. This has negatively impacted the South America smart water metering market size during the COVID-19 pandemic in FY 2020. However, the demand for smart water meters across the region is expected to recover slowly during the forecast period with the relaxation of containment measures.

Lucrative Regions for Smart Water Metering Market

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Tremendous Growth in Smart City Initiatives Drives Smart Water Metering Market Growth

One of the most crucial pieces of a city is its water supply system. With the increasing population, it is inevitable that the demand for water consumption will increase exponentially. A city’s water distribution channel and management systems must be viable over a longer period to maintain consistent growth, and they should be integrated with technologies capable of monitoring and checking water loss issues. Various developed and developing nations across the globe are witnessing a paradigm shift to smart cities. Governments of various countries are adopting smart cities, thereby investing in the development of internet infrastructure in the countries with an aim to bring robust urbanization. The US is experiencing a huge growth in the number of cities transforming into smart cities, especially focused on energy, traffic, and transportation. European countries are also emphasizing on smart cities in order to enhance their infrastructures. Currently, European countries are accentuating to transform energy, mobility, transport, and ICT industries into smart technology. In Asia Pacific, China, India, and Southeast Asian countries such as Singapore and Malaysia are constantly upgrading their cities with advanced technologies. The demand for smart water meters is anticipated to witness an exponential growth in these smart cities as the smart city initiatives majorly focus on the energy sector. The water utilities in all countries cater to energy sectors as the energy generation sector is one of the prominent consumers of water. Due to the advancement of energy sectors in smart cities, the future of smart water metering market growth is also anticipated to be promising.

Type-Based Market Insights

Based on type, the smart water metering market is bifurcated into advanced metering infrastructure and automatic meter reader. The automatic meter reader segment accounted for a larger market share in 2021 in the global smart water metering market. The automatic meter reader records are applicable in every industry as it aids in automatic recording of water consumption, diagnose the pattern of water consumption, and then transfers the collected and diagnosed data to the designed database for operator’s use.

The smart water metering market players mainly adopt inorganic growth strategies to stay competitive in the smart water metering market.

• In February 2022, Diehl Metering announced the launch of its new offices, production area, and warehouse in China. This will help the company to expand its business across the country and APAC by locally producing the meters.
• In May 2021, Mueller Water Products Inc—in collaboration with Ferguson Waterworks—announced the deployment of LoRaWAN Class B endpoints I Florence. The solution offers flexibility and easy integration of remote disconnect meters (RDM), leak detection, and pressure monitoring systems.

Company Profiled

• Arad Ltd
• Badger Meter Inc
• Bmeters SRL
• Diehl Stiftung & Co KG
• Itron Inc
• Kamstrup AS
• Mueller Water Products Inc
• Neptune Technology Group Inc
• Sensus USA Inc
• WAVIoT Integrated Systems LLC