Smart Water Metering Market by Meter type (Ultrasonic, Electromagnetic, Smart Mechanical), Application (Water Utilities, Industries), Technology (AMI, AMR), Component (Meter & Accessories, Communications) and Region - Global Forecast to 2027

Smart Water Metering Market by Meter type (Ultrasonic, Electromagnetic, Smart Mechanical), Application (Water Utilities, Industries), Technology (AMI, AMR), Component (Meter & Accessories, Communications) and Region - Global Forecast to 2027

The Smart Water Metering market is expected to grow at a CAGR of 11.6% during the forecast period, from an estimated USD 3.7 Billion in 2022 to USD 6.4 Billion in 2027. Industrialization and urbanization have led to an increase in water consumption, thus impacting the total availability of water supply. Such factors are driving the need for improving water metering infrastructure to reduce heavy water losses

“Electromagnetic meters is expected to emerge as the largest segment based on meter type”

The smart water metering market has been segmented into ultrasonic meters, electromagnetic meters, and smart mechanical meters based on meter type. Electromagnetic meters are cheaper than ultrasonic meters and offer benefits such as low-pressure loss, the capability of measuring bubbling water, and a longer lifespan. These factors are driving the growth of the electromagnetic smart water metering market.

“IT solutions: The fastest segment for the smart water metering market, by component “

Based on the component, the smart water metering market has been split into meters and accessories, IT solutions, and communications. IoT sensors and data management software platforms help water utilities avoid such losses by analyzing the probable reasons. The fast adoption rate of digital technologies in the water industry is leading to the high growth rate of the IT solutions segment.

“Asia Pacific is expected to be the second largest market during the forecast period.”

The Asia Pacific region is expected to be the second largest growing market due to Countries such as China, Australia, Singapore, and India developing smart infrastructure for water consumption and water supply. Such initiatives are offering lucrative opportunities for suppliers to expand their regional reach in the Asia Pacific and are likely to create growth opportunities in the Asia Pacific smart water metering market during the forecast period

Breakdown of Primaries:

In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:

By Company Type: Tier 1- 45%, Tier 2- 30%and Tier 3- 25%

By Designation: C-Level- 40%, Managers- 25%, and Others- 40%

By Region: North America- 33%, Europe- 27%, Asia Pacific- 20%, the Middle East & Africa- 8%, and South America-12%

Note: Others includes product engineers, product specialists, and engineering leads.

Note: The tiers of the companies are defined based on their total revenues as of 2021. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million

The smart water metering market is dominated by a few major players that have a wide regional presence. The leading players in the smart water metering are Badger Meter, Inc. (US), Sensus (US), Aclara Technologies (US), Itron, Inc. (US), and Diehl Stiftung & Co. KG (Germany)

Research Coverage:

The report defines, describes, and forecasts the global smart water metering market, by meter type, , component, technology, and Application. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the smart water meters market.

Key Benefits of Buying the Report

1. The report identifies and addresses the key markets for smart water meters, which would help equipment manufacturers review the growth in demand.

2. The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.

3. The report will help key players understand the strategies of their competitors better and help them in making better strategic decisions.