The global smart water metering market value was US$ 4.89 billion in 2020. The global smart water metering market value is forecast to reach US$ 9.71 billion by 2030, with a growing compound annual growth rate (CAGR) of 7.3% during the forecast period from 2021-2030.

The smart water metering system is a technologically enhanced platform that enables utilities to automatically collect consumption data, improve efficiency, eliminate manual meter reading, and reduce costs. Additionally, the Smart water metering system uses wired and wireless communications technology, such as the Wi-Fi water meter, to connect LAN or wide area networks, allowing convenient remote monitoring and infrastructure maintenance through leak detection. Furthermore, smart water meters can contribute to billing water, energy consumption, and natural gas in the industrial, residential, and commercial sectors. Smart electronic water metering is also equipped with water mapping solutions throughout the supply chain of the water utility and offers reliable monitoring.

Factors Influencing Market Growth

Smart water metering uses the Internet of Things to measure water usage but cannot influence water consumption patterns by itself. Further, Smart water meters consist of materials like thermoplastics, which allows enterprises to recycle them in order to promote sustainability. Additionally, the growing need for digitization in water industry operations offers opportunities for market growth.

The market share of smart water metering is forecast to grow significantly during the forecast period due to an increase in demand for accurate water billing solutions. Furthermore, the rise in utilities focuses on reducing non-revenue water has driven the growth of the market.

The lack of government initiatives is limiting market growth.

During the forecast period, digitization of the water industry operations is likely to provide lucrative opportunities for the growth of the smart water metering market.

Impact Analysis of COVID-19

COVID-19 has adversely affected the growth of the global smart water metering market in 2020. Due to the absence of government regulations or initiatives, the market is likely to grow relatively slowly during the forecast period. COVID-19 created many obstacles in the construction industry, such as a lack of raw materials, a skilled workforce, safety measures, deliverables, contractual obligations, and project delays. Thus, the demand for smart water metering decreased. Nevertheless, the rising adoption of digital infrastructure solutions across major economies will drive demand for smart water metering post-pandemic.

Regional Insights

North America is forecast to be the largest market during the forecast period due to government initiatives for a reduction in non-revenue water, accurate meter reading, and the development of smart city infrastructure in the US and Canada. Furthermore, urbanization and industrialization are forecast to drive market growth.

Leading Competitors

The leading prominent companies profiled in the global smart water metering market are:

Aclara Technologies LLC
Badger Meter. Inc.
Honeywell International
Itron, Inc.
Kamstrup A/S
Landis+Gyr
Mueller Water Product, Inc.
Neptune Technology Group Inc.
SIEMENS AG
SENSUS (XYLEM)
Other Prominent Players
Scope of the Report

The global smart water metering market segmentation focuses on Meter Type, Application, Technology, Component, and Region.

Segmentation based on Meter Type

Electromagnetic Meter
Ultrasonic Meter
Mechanical Meter
Segmentation based on Application

Residential
Commercial
Industries
Segmentation based on Technology

Automatic Meter Reading
Advanced Metering Infrastructure
Segmentation based on Component

Meter & Accessories
IT Solutions
Communications
Wired
Wireless
Segmentation based on Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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