According to IMARC Group’s latest report, titled “Smart Water Meter Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global market reached a value of US$ 6.31 Billion in 2021. Smart water meter devices are exclusively designed to allow the utility providers to automatically collect water consumption data and thereby facilitate proper water management and billing. They are available in various types, such as electromagnetic meters, ultrasonic meters, electromechanical meters, etc. Smart water meters are equipped with an Electronic Computing Unit (ECU) that eliminates the hassles of manual reading, improves efficiency, saves labor costs, and ensures the availability of real-time information about water usage. Consequently, they are extensively adopted in several commercial and industrial establishments and residential spaces across countries.
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The rising demand for water, on account of the expanding global population and rapid urbanization, is primarily driving the smart water meter market. In addition to this, the development of smart cities and the increasing popularity of Internet of Things (IoT)-based devices are further augmenting the market growth. Besides this, the inflating usage of Low Power Wide Area (LPWA) network technologies that offer improved coverage and connectivity for smart water meter systems is acting as another significant growth-inducing factor. Moreover, the escalating requirement for intelligent and sustainable water management solutions to generate accurate billing and enable remote metering is expected to propel the smart water meter market over the forecasted period. Looking forward, IMARC Group expects the global smart water meter market to reach US$ 12.01 Billion by 2027, exhibiting at a CAGR of 11.9% during 2022-2027.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- Badger Meter
- Kamstrup A/S
- Diehl Stiftung & Co. KG
- Landis+Gyr, Aclara Technologies LLC (Hubbell Incorporated)
- Sensus (Xylem Inc.)
- Itron Inc.
- Neptune Technology Group (Roper Technologies)
Breakup by Product:
- Electromagnetic Meter
- Ultrasonic Meter
- Electromechanical Meter
Breakup by Meter Type:
- Smart Hot-Water Meter
- Smart Cold-Water Meter
Breakup by Configuration Type:
- Automated Meter Reading (AMR)
- Advanced Metering Infrastructure (AMI)
Breakup by Component:
- Meters & Accessories
- IT Solutions
- Communication System
Breakup by Application:
- Water Utilities
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- the Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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