Smart Water Meter Market Size, Share and Industry Analysis, By Type (Auto Meter Reading and Advanced Metering Infrastructure), By Application (Residential, Commercial and Industrial), and Regional Forecast, 2019-2032

The global smart water meter market size was valued at USD 1.38 billion in 2018 and is projected to reach USD 5.35 billion by 2032, exhibiting a CAGR of 10.19% during the forecast period. Europe dominated the market with a share of 34.7% in 2018. The smart water meter market in the U.S. is projected to grow significantly, reaching an estimated value of USD 662.17 million by 2032. The market growth is driven by rising sustainable water practices, precise billing benefits, and IoT adoption. Regulatory mandates, advanced metering infrastructure advancements, and growing residential and smart city demands further propel installation.

Smart meters are devices that simplify the working for utilities and are more precise in their operation as compared to the traditional meters being used for checking water usage. Smart water metering technology offers more advantages to customers and also to the service provider that will certainly drive their installations in various countries. These meters also help in identifying heavy usage along with leak detection techniques. Various advancements are still being brought by the key market players to improve the performance standards and make these meters as an economical source for evaluating water consumption.

MARKET TRENDS

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Steps To Reduce Wastewater Will Surge Installations

Only 3% of earth’s water is considered to be usable for humankind, the increased population in recent years has surged the demand for water in various application sectors. This has led to water shortage being faced by various industries, and therefore the water utilities are taking required steps to reduce water wastage. Also, water utilities have to face excessive losses due to the wasted water due to leaks and other media. A smart water metering system equipped with technology to monitor the usage precisely and also keep a check on leakages acts as the best solution in this scenario. This has led to an increase in the number of installations of these systems in recent years. Following these smart water meter market trends, the market is expected to witness healthy growth in the forthcoming years.

Growing IoT Activities Will Propel the Market Growth

With the growing penetration of advanced systems, the IoT (internet of things) has acquired pace in many industries all over the globe. These systems help in precise management of supply chains, with the required algorithms being set up that avoid any human interference and therefore reduce the chances of any malfunctioning. Smart water metering systems using IoT has interrelated computing devices, smart meters, and customers are provided with unique identifiers (UIDs) that enable the data transfer over the network without any kind of human interference.

Rising Adoption of Cloud-Based Analytics Enhances Market Potential

The integration of cloud-based analytics with smart water meters is a pivotal trend driving market expansion. Utilities leverage real-time data insights for predictive maintenance and demand forecasting, optimizing operational efficiency and supporting scalable water management solutions across residential and industrial sectors.

MARKET DRIVERS

Growing Practices to Promote Sustainable Use of Water Will Drive the Market

Necessary steps are being taken by the governments in various countries to promote sustainable use of water. These steps are being adopted after the water demand has risen exponentially in the last decade, with a heavily growing population along with urbanization. This has led to increased energy demand, and therefore new industries and workplaces have come up. To suffice current and upcoming water demand, sustainable use has become an important factor. These systems have the capacity to map water usage throughout the supply chain of a water utility and serve as the best available solution. This has led to an increase in the number of water utilities installing these and therefore driving smart water metering market growth.

Regulatory Mandates for Water Conservation Amplify Adoption

Stringent government regulations, such as the EU Water Framework Directive and U.S. EPA guidelines, mandate water conservation measures, pushing utilities to deploy smart meters. These policies enforce accountability and efficiency, accelerating market growth as compliance becomes a priority for water management stakeholders.

Precise Billing and Economic Advantage to Customer Drives the Market Growth

Smart water meters not only serve as an efficient solution in terms of operation but are also economically feasible for water utilities and also the customers. These meters act as a one-time investment that can be used for many years to come with negligible maintenance required. Precise billing is the major factor that attracts the customers as customers have the account of water they have used and are being charged accordingly. This eliminates any chances of miscommunication between the service provider and the end-user. Industries that require a heavy amount of water, for example, the food and beverage industry, textiles industry, and others, benefit the most because of these installations.

MARKET RESTRAINT

Lack of Awareness Regarding the Advantages Can Hinder the Market Growth

Despite the various advantages the smart water meters hold, a major portion of the population across the world is unaware of the existence of these services. Currently, smart water metering has a meager penetration rate in the developed economies and a negligible penetration in the developing economies. This factor can hinder the market growth in the given forecast period. Also, heavy investment is required to be done by water utilities to ensure a smart water meter installation for every customer they serve. This, in turn, certainly leads to heavy pocket cuts for customers too. This can negatively impact this market of  in the coming years.

Data Security Concerns Pose Adoption Challenges

Growing concerns over data privacy and cybersecurity risks associated with IoT-enabled smart meters are restraining market growth. Utilities and customers hesitate due to potential breaches of consumption data, necessitating robust security solutions to maintain trust and ensure widespread deployment.

SEGMENTATION

By Type Analysis

Advanced Metering Infrastructure Will Dominate the Market

Based on type, this market is segmented into auto meter reading and advanced metering infrastructure. The advanced metering infrastructure segment currently holds a lesser share in the market as compared to auto meter reading, but owing to the operational advantages of two-way communication and more accuracy, the advanced metering infrastructure segment will dominate the smart water meter market share in the coming years. Auto meter reading meters have only one-way communication from utilities to the customer and therefore are not preferred in current roll-outs for smart water metering.

Emerging Hybrid Metering Solutions Gain Traction

The rise of hybrid metering systems, blending AMR and AMI capabilities, is an emerging segment offering cost-effective scalability. These solutions cater to mid-tier utilities seeking flexibility and precision, positioning them as a competitive alternative during the forecast period.

By Application Analysis

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Growing Customers in Residential Sector Will Lead to Its Domination in the Market

In terms of application, this market is segmented into residential, commercial, and industrial. The residential sector is set to dominate the market as it has in the past years. The major factor for this growth will be rising customers in the sector, owing to the increasing population and urbanization in many countries. Municipal water occupies a major share in every region, and therefore residential sector occupies lion’s share in water utilization. Following the residential sector, the industrial sector is the second major application sector, with water being one of the essential raw materials and coolants in many industries across the globe.

Commercial Sector Embraces Smart Water Management

The commercial sector is increasingly adopting smart water meters to optimize usage in office complexes and retail spaces. Driven by sustainability goals and cost savings, these deployments enhance water efficiency, supporting broader urban water management initiatives across key markets.

REGIONAL ANALYSIS

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Smart City Initiatives Accelerate Regional Deployments

Asia-Pacific and North America are witnessing accelerated growth due to smart city initiatives, such as India’s Smart Cities Mission and U.S. urban infrastructure programs. These projects integrate smart water meters to manage resources efficiently, driving demand as urbanization intensifies across these regions.

The smart water meter size in Europe stood at USD 0.48 billion in 2018. The market in the region is characterized by roll-outs to promote sustainable use of water coupled with acquiring economic advantages. These factors, along with higher awareness regarding smart meters among the people as compared to other regions, has led to the region occupy a major share in the market. Also, the region has numerous independent nations that are carrying out these roll-outs with government support. Following Europe, North America is the other major region for the market. The U.S. is the major country in the region that also has the presence of key players in the market of smart water meter. Canada has also shown significant growth in the adoption of smart meters in recent years. Asia-Pacific is expected to have the highest growth among the region, with China and other Southeast Asian countries acting as the catalysts for growth. The Middle East and Africa and Latin America are expected to have slow growth with Gulf Coorporation Council (GCC) countries, Brazil, and Mexico being the leading nations in rolling out installation plans for these systems.

KEY INDUSTRY PLAYERS

Kamsturp, Itron, and Landis + Gyr Are Among the Top Players to Propel the Market Fragmentation

The competition landscape of this market depicts a monopoly dominated by Itron, Kamsturp, and Landis+Gyr. A diversified product portfolio of smart water solutions, along with constant innovations by the companies leading to new device introductions, are prominent factors responsible for their dominance.

However, regional and domestic players such as Badge Meter, Diehl, Aclara Technologies, Neptune Technology Group, Sensus, BMETER, Datamatic, Honeywell, ZENNER, and Holley Technology have entered the market and are bringing in new technologies and economical solutions. This is projected to positively impact the global market as these companies are anticipated to gain market share during the forecast period.

LIST OF KEY COMPANIES PROFILED :

• Kamsturp (Denmark)


• Itron (US)


• Landis + Gyr (Switzerland)


• Badger Meter (US)


• Diehl (Germany)


• Neptune Technology Group Inc (US)


• Aclara Technologies (US)


• Sensus (US)


• BMETER (UK)


• Datamatic (India)


• Honeywell (US)


• ZENNER (US)

KEY INDUSTRY DEVELOPMENTS:

• On July 15, 2021, Anglian Water is moving along with the installation of 1.1 million newly upgraded water meters for homes and businesses as a part of 5 years project and investing more than USD 231.06 million. This enables the company’s long-term demand management strategy to protect future water resources.


• On June 15, 2021, Itron has collaborated with digimondo, a German IoT company to help water utilities improve the management of distribution networks by leveraging LoRaWAN. This enables the utilities to create and operate their LoRaWAN-based networks for remote reading of water meters.


• In July 2020, the City of Dallas, Georgia, has launched an initiative to handle the control of water losses.  The city chooses to deploy a smart metering utility network from Sensus and decided to expand the upgradation program of meters and address the water losses.


• In May 2020, Laison has bagged a contract for CAMWATER's new smart water meter project. The contracts include the installation of smart water meters in two lots at the pilot sites in Doula and Yaounde.

REPORT COVERAGE

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The smart water meter market report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market over recent years.

Report Scope & Segmentation