The Smart Water Meter Market was valued at US$ 6.1 Bn. in 2021. The Global Smart Water Meter Market size is estimated to grow at a CAGR of 9.2% over the forecast period.
Smart Water Meter Market Overview:The report explores the Smart Water Meter market's segments (Type, Application, and Region). Data has been provided by market participants and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). This market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2020. The report investigates the Smart Water Meter market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Smart Water Meter market's contemporarys competitive scenario. To know about the Research Methodology:-Request Free Sample Report 2021 is considered as a base year to forecast the market from 2022 to 2027. 2021’s market size is estimated on real numbers and outputs of the key players and major players across the globe. The past five years' trends are considered while forecasting the market through 2027. 2020 is a year of exception and analysis, especially with the impact of lockdown by region.
Smart Water Meter Market Dynamics:Auto Metering Infrastructures smart water metering market demand is predicted to reach 0.3 Bn units by 2027, as a result of the rapid development of reliable, sustainable, and performance of AMI is driven smart metering technologies. Business expansion will be driven by utilities investing in large-scale deployment of smart, digital water solutions across their network. The automatic monthly billing, user-friendly command control systems, online consumer applications, and secure internet payments, along with real-time data management, leakage alerts, accurate usage data, process optimization, reduced labor costs, and extensive battery life, are projected to boost the acceptance of these advanced meters. It can eliminate the need for manual meter readings. It can give weekly reports and forecasts for end-users. It can help to save money on unnecessary distribution. It ensures a safe and steady water supply. The users can remotely control the water flow using the mobile app with just a click. During the forecast period, the high costs associated with connected metering infrastructure are forecasted to restrain growth. As a result, the two-way communication required for automated reporting requires technologies such as power line communication (PLC), broadband, wireless cellular transmission, geographic information systems (GIS), and incorporation of IoT, which would add to the cost. Thus, the market growth is restrained by the lack of adoption. Data protection has also become a major challenge for water utilities. Wireless connectivity technologies are also used to transmit data, which increases the risks of data breaches. In the future, aging infrastructure is forecasted to lead to a growing demand for infrastructure replacements, which is creating lucrative growth opportunities. Many countries started replacement water meter programs in which they replace old water meters by advance smart water meters with wireless connectivity. A similar program is conducted in the U.S; 20000 and above water meters are placed in many cities. Smart water meters face some challenges such as high deployment and maintenance costs, insufficient infrastructure, skills gaps, communication problems, weak communication signals, and power cabling constraints in remote and confined locations. As a result, these factors are expected to hamper market growth.
Smart Water Meter Market Trends:IoT-based water metering systems that have interconnected computing devices, smart meters, and customers provide unique identifiers that enable the data transfer without human interruption. There has been a rapid growth of these systems in recent years. It helps monitor usage precisely and keep a check on usage percentages and leakages with the help of technology which helps to reduce wastewater because many industries are facing water shortages. This market is anticipated to grow strongly in the forecasted years.
Smart Water Meter Market Segment Analysis:Based on Type, the Smart Water Meter Market is segmented into Auto Meter Reading and Advanced Metering Infrastructure. Advanced metering infrastructure is dominated the market share with 63% in 2021. In AMI, Customers and water utilities now can communicate two-way. AMI technology, which offers real-time tamper and theft alerts, is also helping to improve customer satisfaction, as it automatically logs accurate and timely meter readings into billing software. AMI provides a comprehensive solution for meter reading, billing, and data collection that meets the long-term needs of utilities. The solutions are scalable, so utilities may introduce them gradually, depending on their budgets and needs. Based on Application, the Smart Water Meter Market is segmented into Commercial, Residential, and Industrial. The residential segment has dominated the market, having the highest share in 2021. For residential use, Smart Water Meter is used to determine the amount of water consumed by an individual. Knowing how much water is used in a particular property can assist you with getting a better understanding of how much you spend on your water bill and help you save money as well. Almost 96% of San Francisco's registered water accounts have automated water meters installed as part of the San Francisco Public Utilities Commission's (SFPUC's) automation program. This program further monitors water usage and makes leak detection easier than with manually operated meters. It is the most cost-effective move for the public utility department of San Francisco to install automated water meters in every household, which also enables residents to become more aware of water conservation procedures. For commercial use, these data can be used to identify inefficiencies in usage and implement practices that will reduce water consumption; saving money and energy are the main benefits, and they can use strategic plans to decrease water consumption for commercial use.
Smart Water Meter Market Regional Insights:North America held the largest market share accounting for 46% in 2021. The U.S took the initiative and replaced many cities' old water meters with advanced water meters to save millions of dollars, and they are continuously working on it to meet their increasing demand. In Canada also, their water meters are upgraded. They plan to convert the old water meter to an advanced water meter by which they can collect the information about how much individuals use water by which they can apply strategies, and they can adopt sustainable usage of water, and save money. Governments are also taking responsibility and coming up with new schemes and projects for water conservation. So, the smart water meter is very beneficial for both companies and people to keep a record of wastages and identify the leakages. Europe is the second-largest region which held the largest market share for AMR and AMI in 2021. The growth of consumers’ awareness about efficient water management along with the increasing demand for end-to-end web monitoring equipment will boost business prospects in Europe. The objective of the report is to present a comprehensive analysis of the global Smart Water Meter Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear, futuristic view of the industry to the decision-makers. The reports also help in understanding the Smart Water Meter Market dynamic and structure by analyzing the market segments and projecting the Smart Water Meter Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Smart Water Meter Market make the report investor’s guide.
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Global Smart Water Meter Market Report Coverage Details Base Year: 2021 Forecast Period: 2022-2027 Historical Data: 2017 to 2021 Market Size in 2021: US$ 6.1 Bn. Forecast Period 2022 to 2027 CAGR: 9.2% Market Size in 2027: US$ 10.3 Bn. Segments Covered: by Type • Auto meter reading • Advanced metering infrastructure by Application • Residential • Commercial • Industrial
Smart Water Meter Market by Region:• North America • Europe • Asia Pacific • Middle East and Africa • South America
Smart Water Meter Market Key Players:• Kamstrup A/S • Diehl Stiftung & Co. KG • Badger Meter, Inc. • Itron Inc. • Sensus USA Inc. • Landis+Gyr • Honeywell International • Arad Group • Neptune Technologies • Elster Group GmbH • Aclara Technologies LLC • Apator • Siemens • Datamatic, Inc. • B METERS s.r.l. • Arqiva Ltd. Frequently Asked Questions: 1. What is the study period for Smart Water Meter Market? Ans: The study period of this market is 2017-2027. 2. What is the growth rate of the Smart Water Meter Market? Ans: The Smart Water Meter Market is growing at a CAGR of 9.2% over the forecast period. 3. Which region has the largest share in Smart Water Meter Market? Ans: North America held the highest share in 2021. 4. What are the significant segments operating in the market? Ans. The significant segments are by Type, Application, and by Geography. 5. Which region has the second-largest share in Smart Water Meter Market? Ans. Europe has the second largest market share in Smart Water Meter Market.
1. Global Smart Water Meter Market Size: Research Methodology 2. Global Smart Water Meter Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Smart Water Meter Market Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Smart Water Meter Market Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12. COVID-19 Impact 4. Global Smart Water Meter Market Size Segmentation 4.1. Global Smart Water Meter Market Size by Type (2021-2027) • Auto Meter Reading • Advanced Metering Infrastructure 4.2. Global Smart Water Meter Market Size, by Application (2021-2027) • Residential • Commercial • Industrial 5. North America Smart Water Meter Market (2021-2027) 5.1. North America Smart Water Meter Market Size, by Type (2021-2027) • Auto Meter Reading • Advanced Metering Infrastructure 5.2. North America Smart Water Meter Market Size by Application (2021-2027) • Residential • Commercial • Industrial 5.3. North America Smart Water Meter Market, by Country (2021-2027) • United States • Canada • Mexico 6. European Smart Water Meter Market (2021-2027) 6.1. European Smart Water Meter Market, by Type (2021-2027) 6.2. European Smart Water Meter Market, by Application (2021-2027) 6.3. European Smart Water Meter Market, by Country (2021-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Smart Water Meter Market (2021-2027) 7.1. Asia Pacific Smart Water Meter Market, by Type (2021-2027) 7.2. Asia Pacific Smart Water Meter Market, by Application (2021-2027) 7.3. Asia Pacific Smart Water Meter Market, by Country (2021-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Smart Water Meter Market (2021-2027) 8.1. Middle East and Africa Smart Water Meter Market, by Type (2021-2027) 8.2. Middle East and Africa Smart Water Meter Market, by Application (2021-2027) 8.3. Middle East and Africa Smart Water Meter Market, by Country (2021-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Smart Water Meter Market (2021-2027) 9.1. South America Smart Water Meter Market, by Type (2021-2027) 9.2. South America Smart Water Meter Market, by Application (2021-2027) 9.3. South America Smart Water Meter Market, by Country (2021-2027) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1. Kamstrup A/S 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Diehl Stiftung & Co. KG 10.3. Badger Meter, Inc. 10.4. Itron Inc. 10.5. Sensus USA Inc. 10.6. Landis+Gyr 10.7. Honeywell International 10.8. Arad Group 10.9. Neptune Technologies 10.10. Elster Group GmbH 10.11. Aclara Technologies LLC 10.12. Apator 10.13. Siemens 10.14. Datamatic, Inc. 10.15. B METERS s.r.l. 10.16. Arqiva Ltd.