29.3 Global Smart Water Meter 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 Meter Market Outlook
30.3 North America Smart Water Meter 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 Meter Market Outlook
31.3 Europe Smart Water Meter 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 Meter Market Outlook
32.3 Asia Pacific excluding Japan Smart Water Meter 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 Meter Market Outlook
33.3 Japan Smart Water Meter 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 Meter Market Outlook
34.3 Latin America Smart Water Meter 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 Meter Market Outlook
35.3 Middle East & Africa Smart Water Meter 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 Meter Market size was USD 6.2 billion in 2024 and is anticipated to reach a valuation of USD 21.4 billion by the end of 2037, rising at a CAGR of 10.1% during the forecast period, i.e., 2025-2037. In 2025, the industry size of smart water meter is estimated at USD 6.8 billion.
The sales of smart water meters have significantly increased over recent years due to rising water scarcity in many parts of the globe. As water scarcity has become a major issue, especially in arid and semi-arid regions, the demand for precise water monitoring systems and solutions has increased. These smart water meters help to identify water wastage and provide real-time data to manage demand and supply efficiently.
Several governments worldwide are making efforts to support the adoption of smart water meters to combat water scarcity and encourage efficient water use. For instance, in March 2021, the Government of India announced a digital mission to address the challenges of water supply management in rural areas. The Jal Jeevan Mission deployed first-of-its-kind sensor-based IoT smart metering systems to monitor rural drinking water supply. In collaboration with Tata Community Initiatives Trust (TCIT) and Tata Trusts, the Jal Jeevan Mission completed several pilot projects in remote regions of Rajasthan, Maharashtra, Uttarakhand, Himachal Pradesh, and Gujarat.
Growth Drivers
Challenges
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
10.1 % |
|
Base Year Market Size (2024) |
USD 6.2 billion |
|
Forecast Year Market Size (2037) |
USD 21.4 billion |
|
Regional Scope |
|
Type (Electromagnetic Meter, Ultrasonic Meter, Mechanical Meter)
Mechanical meter segment is set to hold smart water meter market share of over 54.5% by the end of 2037, owing to the growing preference for mechanical water meters for their durability, cost-effectiveness, enhanced convenience and reliability, and the rising need for extensive water management solutions in growing urban areas. Different types of mechanical meters are currently used across various settings, including residential, commercial, and industrial applications.
In addition, government initiatives and regulations to conserve water have resulted in a rising number of product launches. For instance, in September 2024, Metron, a global leader in cellular-based smart metering and water intelligence announced the launch of two products, WaterScope Utility and Metron Spectrum Wave at the National Rural Water Association’s WaterPro Conference 2024 in Savannah, Georgia. WaterScope Utility is an advanced analytical app for streamlining municipal water systems while Metron Spectrum Wave is an advanced ultrasonic smart meter, highly resilient and versatile.
Application (Commercial, Industrial, Residential)
In smart water meter market, residential segment is expected to hold revenue share of over 52% by the end of 2037. This growth can be attributed to factors such as rising urbanization across the globe, increasing smart buildings and home projects, and high demand for smart water meter solutions across the residential sector for water conservation. The advanced water meters offer real-time water usage tracking, helping homeowners detect flaws and reduce consumption. In addition, high adoption of smart water meters for improved billing accuracy and government schemes for the residential sector are expected to boost segment revenue growth going ahead.
Our in-depth analysis of the smart water meter market includes the following segments:
|
Type |
|
|
Component |
|
|
Technology |
|
|
Application |
|
North America Market
North America smart water meter market is projected to dominate revenue share of around 45.6% by the end of 2037, owing to favorable regulatory support in the U.S. and Canada, high adoption of advanced water management systems across residential, industrial, and commercial settings, and the presence of leading companies that offer a range of smart meter solutions tailored to utility and municipality needs.
In the U.S., the smart water meter market is poised to account for a significant revenue share between 2025 and 2037. This growth can be attributed to rising concerns about water scarcity, supportive government initiatives to conserve water and adopt smart water meters, and increasing investments to develop and launch novel products. Moreover, in February 2024, the U.S. Environment Protection Act (EPA) announced USD 5.8 billion for the Clean Water State Revolving Fund (SRF), supporting stormwater, wastewater, and drinking water infrastructure across the country.
The Canada smart water meter market is expected to register rapid revenue growth during the forecast period owing to rapid urbanization, rising investments in adopting smart water metering solutions for efficient monitoring and early leak detection, and increasing government investments in deploying smart water meter systems.
Asia Pacific Excluding Japan Market Statistics
Asia Pacific excluding Japan smart water meter market is set to observe growth of more than 10.9% through 2037 attributed to growing investments in smart infrastructure in India, China, and South Korea, and the rising importance of effective resource management and sustainable development initiatives to accommodate the increasing population. In addition, the rising integration of IoT and data analytics with smart meters and increasing investments in developing cost-effective and durable advanced smart water meters are expected to drive market growth in APEJ going ahead.
In India, the smart water meter market is expected to register robust revenue CAGR owing to the rising issues of water scarcity, expansion of smart cities across the country, and high adoption of advanced water monitoring systems. In addition, government initiatives like the Smart Cities Mission to promote smart water management across urban projects are expected to drive the market during the forecast period.
The China smart water market is anticipated to experience significant growth during the forecast period. This growth can be attributed to rapid urbanization, rising investments in smart infrastructure by the government, high focus on water conservation, and the need for advanced metering systems to optimize water usage in commercial, residential, and industrial sectors. One of the key developments in China is the launch of the world’s first NB-IoT-based smart water project by China Telecom and Shenzhen Water Group. The project collected real-time data from 1,200 smart water meters and monitored water quality control.
The competitive landscape of the global smart water meter market is driven by a mix of established companies and emerging players who are focused on providing advanced smart water management solutions. These companies are focused on adopting several strategies such as mergers and acquisitions, partnerships, collaborations, and product launches to enhance their product base and maintain their global position. In addition, these companies are at the forefront due to their investments in advanced metering infrastructure and automated meter reading technologies for real time water consumption tracking.
Some of the key players in the smart water meter market include:
Author Credits: Abhishek Verma
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