29.3 Global Smart Water Metering Market Segmentation Analysis (2024-2037)
29.3.1 By Type
29.3.3 By Technology
29.3.5 By Region
29.4 Cross Analysis of Type W.R.T. Application (USD Million), 2024-2037
30. North America Smart Water Metering Market Outlook
30.3 North America Smart Water Metering Market Segmentation Analysis (2024-2037)
30.3.1 By Type
30.3.2 Component
30.3.4 By Applications
30.3.5 By Country
30.4 Cross Analysis of Type W.R.T. Application (USD Million), 2024-2037
31. Europe Smart Water Metering Market Outlook
31.3 Europe Smart Water Metering Market Segmentation Analysis (2024-2037)
31.3.1 By Type
31.3.3 By Technology
31.3.4 By Applications
31.4 Cross Analysis of Type W.R.T. Application (USD Million), 2024-2037
32. Asia Pacific Excluding Japan Smart Water Metering Market Outlook
32.3 Asia Pacific excluding Japan Smart Water Metering Market Segmentation Analysis (2024-2037)
32.3.3 By Technology
32.3.4 By Applications
32.4 Cross Analysis of Type W.R.T. Application (USD Million), 2024-2037
33. Japan Smart Water Metering Market Outlook
33.3 Japan Smart Water Metering Market Segmentation Analysis (2024-2037)
33.3.1 By Type
33.3.3 By Technology
33.3.4 By Applications
33.4 Cross Analysis of Type W.R.T. Application (USD Million), 2024-2037
34. Latin America Smart Water Metering Market Outlook
34.3 Latin America Smart Water Metering Market Segmentation Analysis (2024-2037)
34.3.1 By Type
34.3.3 By Technology
34.3.4 By Applications
34.4 Cross Analysis of Type W.R.T. Application (USD Million), 2024-2037
35. Middle East & Africa Smart Water Metering Market Outlook
35.3 Middle East & Africa Smart Water Metering Market Segmentation Analysis (2024-2037)
35.3.1 By Type
35.3.3 By Technology
35.3.4 By Applications
35.4 Cross Analysis of Type W.R.T. Application (USD Million), 2024-2037
36 Global Economic Scenario
37 About Research Nester
Smart Water Metering Market size was valued at USD 3.3 billion in 2024 and is poised to reach USD 87.8 billion by the end of 2037, registering around 28.6% CAGR during the forecast period i.e., between 2025-2037. In 2025, the industry size of smart water metering is assessed at USD 4.3 billion.
A major driver for the growth of the smart water metering market is the rising global water scarcity and the urgent requirement for sustainable water resources management. The push to save water creates demand for advanced water-saving solutions. smart water metering effectively answer the challenge by offering precise measurement and monitoring capabilities. In June 2024, the Water Collaborative of Greater New Orleans highlighted the effort of the Sewerage and Water Board of New Orleans (SWBNO)’s efforts to install smart water metering across the city and estimates that it will lead to accurate billing for residents. The increasing adoption of smart water metering in residential homes is indicative of their effectiveness in water saving and accurate billing.
In February 2024, the United Nations Educational, Scientific, and Cultural Organization (UNESCO) stated that the water demand from the municipal sector has experienced a significant increase relative to the other sectors and is estimated to keep growing owing to surging urbanization. The trends are favorable for the adoption of smart water metering owing to their ability to optimize water use and mitigate waste, allowing municipalities to reduce water wastage. Additionally, the integration of data analytics is expected to improve the efficacy of the product by allowing utilities to identify patterns, predict demand, and improve water distribution. For instance, in January 2024, Badger Meter Inc. announced that it had acquired select remote water monitoring hardware and software from Trimble and TrimbleUnity Remote Monitoring Software. The acquisition will provide real-time monitoring hardware and software targeted at distributed data collections for applications in water, stormwater, wastewater, and environmental water monitoring indicating the potential of revenue growth in advanced data analytics solutions in smart water monitoring.
Furthermore, the rapid growth of the smart cities initiative is poised to create profitable revenue streams for the smart water metering market. Key market players are positioned to leverage emerging opportunities in high-income and middle to low-income economies as smart infrastructure initiatives expand. For instance, in June 2024, Sigfox SA was selected as the network to support South Africa’s transition to smart water metering, and as per the agreement, existing meters will be replaced or adapted as smart meters and will run on the nationwide Sigfox IoT network. Such government contracts or tenders are lucrative opportunities for the major players providing smart water metering solutions. The trends are favorable for the robust growth of the market by the end of the forecast period.
Growth Drivers
Challenges
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
28.6% |
|
Base Year Market Size (2024) |
USD 3.3 billion |
|
Forecast Year Market Size (2037) |
USD 87.8 billion |
|
Regional Scope |
|
Technology (AMI, AMR)
AMI segment is likely to account for more than 54.7% smart water metering market share by the end of 2037. The advanced metering infrastructure systems allow utilities to monitor water usage remotely, driving its adoption. Furthermore, the ability of AMI to offer real-time data analytics and two-way communication capabilities bolsters adoption.
A major driver of the segment’s growth is the rising public and private collaborations, providing opportunities for businesses to offer robust water monitoring solutions. For instance, in June 2022, San Jose Water announced that the California Public Utilities Commission (CPUC) approved a request to deploy advanced metering infrastructure, and San Jose Water will be investing USD 100 million over the next four years. The deployment of smart water metering by the company is expected to improve customer experience and provide control to users over water bills and usage.
The automatic meter reading (AMR) segment of the smart water metering market is projected to expand its revenue share by the end of the forecast period. AMR provides one-way communication and is gaining traction in areas where utilities seek to cut down operational costs associated with manual reading. A major driver of the segment is its adaptability to existing water distribution networks, boosting utilities to upgrade legacy systems without incurring major installation costs. For instance, in September 2021, the Second Sight Systems utility metering division was awarded an additional project through a partnership with Ferguson Waterworks, and the company replaced approximately 750 existing residential water meters with AMR water meters. The increasing advent of such projects indicates profitable opportunities within the segment for utilities to leverage AMR and address NRW losses.
Application (Residential, Commercial Utility)
The residential segment of the smart water metering market is projected to be the largest application during the forecast period. The profitable opportunities within the segment are attributed to the large volume of smart water metering installations required to cater to an ever-increasing urban population. The advent of smart homes is expected to drive continued demand, with utilities and governments prioritizing smart water metering solutions to address water scarcity concerns and mitigate NRW losses.
For instance, in September 2024, Metron launched the Ultrasonic Smart Water Metering dedicated utility app that is positioned to make water intelligence accessible to industry stakeholders and benefit consumers in residential spaces. Furthermore, the rising consumer awareness of sustainable water management is an emerging driver of the segment where businesses can continue to find profitable opportunities.
Our in-depth analysis of the global market includes the following segments:
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Technology |
|
|
Application |
|
|
Product |
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Europe Market Forecast
Europe in smart water metering market is anticipated to capture around 47.1% revenue share by the end of 2037. Europe’s expansion is attributed to rising investments in water conservation efforts and policy-driven sustainable goals to support urban and rural housing communities with smart water solutions. Additionally, the European Union emphasizes building a robust circular economy in the region which necessitates mitigating NRW waste.
For instance, the EU Water Framework promotes sustainable water use, and businesses in the region are leveraging increasing opportunities to supply smart water metering solutions. For instance, in September 2024, Arqiva, from the UK, announced the connecting of two million smart water metering to its network and is poised to support per capita water consumption reduction targets for the next Asset Management Plan (AMP) in the country. With Germany, France, the UK, Netherlands leading the revenue share in the region, service providers are expected to find continuous opportunities via public and private contracts.
Germany holds a major revenue share in the Europe smart water metering market owing to sustainability initiatives and the proliferation of IoT technologies. Smart water metering are increasingly being adopted in the residential sector of Germany, offering effective leak detection and benefiting customers. A major driver of the market is the mandate by the government to roll out smart meters nationally to commercial and residential customers from 2025. Companies operating in the smart water metering sector are positioned to leverage the mandate by acquiring companies operating in Germany for their smart metering portfolios. For instance, in June 2024, Ancala announced the acquisition of Solandeo which was a full-scale smart metering solutions provider.
Furthermore, domestic companies have leveraged the rising demands by expanding smart water metering installation across Europe. For instance, Frasers group reported that in the financial year 2023, 90% of their properties had Smartvatten devices installed.
France is an emerging market in the Europe smart water metering industry. A supportive regulatory ecosystem prompting the installation of smart metering assists the sector’s growth. For instance, the Building Automation and Control Systems (BACS) decree of France boosts the adoption of smart water metering solutions. Furthermore, domestic companies of France are expanding to emerging markets in APAC such as India the Advanced Metering Infrastructure for 5 million Smart Meters project led by the EDF Group.
Key players in France are executing partnerships and agreements to improve smart remote reading infrastructure solutions. For instance, in November 2024, SUEZ and GRDF subsidiary IOWIZMI signed a 10-year contract to pool their remote reading infrastructures in the country, which stands to benefit from advancements in smart water metering technologies.
North America Market Forecast
North America is projected to exhibit the fastest revenue growth in the North America smart water metering market after Europe. The rising government contracts at various levels are poised to provide profitable opportunities for businesses to install smart water metering solutions. For instance, in September 2023, the city of Sweetwater in the U.S. announced plans to install Ultrasonic Smart Water Metering in every business and home in partnership with Secure Vision of America as a part of a USD 15 million infrastructure project. Businesses with a strong presence in the region are set to benefit from an increasing number of infrastructure projects with secure funding streams.
The U.S. holds the largest revenue share in the North America smart water metering market. The demand for AMI has gained significant momentum owing to its ability to provide real-time data and remote monitoring capabilities. Federal initiatives supporting smart city projects are playing a pivotal role in the sector’s growth. For instance, in October 2024, the city of Fort Lauderdale announced plans to conduct a comprehensive audit and survey of all active water meters across the city. The initiative offers promise for major players to find opportunities to upgrade aging smart water infrastructure.
Canada is a rapidly growing market in the smart water metering industry of North America and is expected to increase its revenue share by the end of the forecast period. The rise of smart meter installation in Canada creates a profitable domestic market. Furthermore, all property owners must have a smart water metering installed in the city of Toronto, creating favorable opportunities for businesses to provide repair and upgrade solutions.
Additionally, domestic companies are expanding their smart metering services which augurs well for the future of the sector. For instance, in September 2022, Trilliant announced the successful implementation of a wireless water metering solution in Canada and specialization in the multi-residential sector.
The global smart water metering market is poised to register robust growth during the forecast period. Key players in the market are leveraging the growing push to mitigate water waste and offer smart solutions in residential and commercial water management. Furthermore, businesses are investing in expanding their smart water metering solutions and improving the sensor technologies to provide data analytics for remote monitoring. Investments to improve supply, installation, and customer support by businesses in established and emerging markets to improve market share are beneficial for the competitive market.
Here are some key players in the market:
Author Credits: Abhishek Verma
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