The Smart Water Meter Market size in terms of shipment volume is expected to grow from 46.81 Million units in 2024 to 78.91 Million units by 2029, at a CAGR of 11.01% during the forecast period (2024-2029).
Smart water meters are electronic devices that accurately monitor water usage. These smart meters can transmit usage data via cellular, radiofrequency electromagnetic radiation (RF), and power line communication, assisting the utility company in efficiently managing energy consumption. Smart meters provide many advantages, including lower meter reading costs, prevention of disconnection, elimination of billing inefficiencies, and lower reconnection costs for businesses and consumers.
The smart water meter market is highly fragmented, with the presence of major players like Watertech S.P.A (Arad Group), Mom Zrt, Apator SA, Arad Group, and Axioma Metering. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain sustainable competitive advantage.
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