Asia Pacific Smart Water Metering Market - By Application (Residential, Commercial, Utility), By Technology (AMI, AMR), By Product (Hot Water Meter, Cold Water Meter) & Forecast, 2023 - 2032

Asia Pacific Smart Water Metering Market - By Application (Residential, Commercial, Utility), By Technology (AMI, AMR), By Product (Hot Water Meter, Cold Water Meter) & Forecast, 2023 - 2032

Asia Pacific smart water metering market size is expected to record nearly 30.9% CAGR from 2023 to 2032. The region's rapid urbanization, rising water scarcity concerns, and the need for efficient water management solutions is influencing the market growth.

Governments and water utilities across the region are increasingly recognizing the benefits of smart water metering in reducing water wastage, improving billing accuracy, and enhancing overall water infrastructure. This awareness has led to substantial investments by companies in upgrading water management systems, creating a conducive environment for market growth.

For instance, in 2022, Renew Group expanded its business to the APAC region with the launch of the HANS premium water smart RO. Leveraging the synergistic effects of both reverse osmosis (RO) and deionization (DI) technologies, HANS Premium Water was developed to offer comprehensive water treatment solutions tailored to the needs of businesses that depend on high-purity water for various industrial or commercial applications. The development of such water treatment solutions is expected to influence the market over the coming years.

The Asia Pacific smart water metering market is divided based on application, technology, product, and region.

The commercial application segment is expected to witness substantial growth from 2023 to 2032. With a growing number of businesses focusing on sustainability and cost optimization, the demand for smart water metering solutions in commercial buildings, industries, and offices is on the rise. Accurate real-time monitoring, leak detection, and data-driven decision-making are driving the adoption of smart water meters across commercial applications, contributing significantly to market expansion.

The hot water meter product segment is anticipated to record a sizeable CAGR between 2023 and 2032. These specialized meters are designed to measure and monitor hot water consumption in residential and commercial settings. As industries such as hospitality, healthcare, and manufacturing increasingly rely on hot water for their operations, the demand for accurate and efficient hot water metering solutions has surged, propelling this product segment's growth.

India will account for a substantial share of the smart water metering market by 2032. The Indian government's Smart Cities initiative and its focus on improving water infrastructure have bolstered the adoption of smart water metering systems across the country. The country is also witnessing significant investments in smart water technology, creating a robust market ecosystem.