Smart Water Metering Market Trends

Growth Drivers

• Increasing focus on non-revenue water (NRW) reduction: The increasing focus on reducing non-revenue water globally is positioned to be a major driver of the market. Utilities across the world lose a significant amount of their water supply to NRW because of inaccurate billing or leaks. smart water metering are an essential solution to NRW reduction as they assist in helping utilities identify and resolve inefficiencies in the distribution network. For instance, in September 2024, Avnet was granted a contract to supply Huizhong’s SCL61H-100 smart ultrasonic water meters to South East Water’s Digital Meters program. The ultrasonic water meters are expected to curb NRW such as water lost to leaks or bursts in the distribution systems. Key market players are investing to expand their portfolio of smart water metering to leverage the rising opportunities to supply advanced solutions.

• Increasing partnerships between the public and private sector: The World Bank has indicated that the private sector can help reduce NRW in emerging economies, indicating profitable opportunities for key market players to leverage government contracts to provide smart water metering solutions. Furthermore, public-private collaborations offer the financial and technical resources required for large-scale deployment in urban areas. The partnerships are beneficial to overcome budgetary constraints faced by utilities, boosting faster adoption of smart meters.
  
  For instance, in December 2024, the Bangalore Water Supply and Sewerage Board (BWSSB) in India announced plans to introduce AI (Artificial Intelligence)-enabled smart water metering, and domestic companies are seeking to secure the lucrative contract highlighting potential in public-private sector collaborations. Additionally, the alignment of the private sector’s innovation with the needs of the public sector is poised to assist the growth of the smart water metering market.

• Integration of IoT and AI in smart water metering: Rising innovations in sensor technology have improved the accuracy of smart water metering. Advanced sensors can detect minute anomalies in water slowly, accounting for micro leaks, leading to smart water metering becoming high-value products in smart city ecosystems. Furthermore, energy-efficient designs stand to expand the lifespan of smart meters, leading to higher adoptability.
  
  The integration of IoT and AI in smart water metering is expected to significantly boost sales as industrial, commercial, and residential spaces are increasingly prioritizing data-driven solutions. For instance, in April 2024, SUEZ and Vodafone signed a global partnership to accelerate the next generation of smart water metering capable of remote reading via Narrowband IoT communication (NB-IoT) networks, and the partnership plans to bring over 2 million NB-IoT meters into service by 2030. Ambitious partnerships as such augur well for the future of the market, with the advent of the next generation of smart water metering positioned to drive more adoption.

Challenges

• Intermittent water supply system constraints: The smart water metering market can face challenges in developing countries where water is supplied intermittently rather than continuously. The smart water metering are designed for continuous water flow monitoring and adaption to intermittent systems may require additional configuration. Such mismatches can minimize effectiveness.

• Power dependency and maintenance challenges in harsh systems: The smart water metering sector can face constraints owing to dependency on batteries or external power sources, which can be a challenge in remote or harsh environments. High temperatures and humidity can reduce battery life. The advent of remote water monitoring systems is poised to navigate this challenge.