Europe Smart Water Metering Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Automatic Meter Reader and Advanced Metering Infrastructure), Component (Controlling Units, Display Storage & Integrated Software, and Others), Applicatio

Europe Smart Water Metering Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Automatic Meter Reader and Advanced Metering Infrastructure), Component (Controlling Units, Display Storage & Integrated Software, and Others), Application (Residential and Industrial), and Meter Type (Ultrasonic Meters, Electromagnetic Meters, and Electromechanical Meters)

The Europe smart water metering market is expected to grow from US$ 1,157.22 million in 2022 to US$ 2,294.23 million by 2028. It is estimated to grow at a CAGR of 12.1% from 2022 to 2028.

Non-revenue Water Monitoring and Control Generating the Demand for Smart Water Meters is Driving the Europe Smart Water Metering Market

Non-revenue Water (NRW) is a major concern to the water distribution centers across the globe. The non-revenue water refers to the difference between the amount of water produced and quantity of water billed to the customers. The loss of water from the source to destination occurs due to various reasons such as leaks which are referred to as physical loss, and metering inaccuracies, tampering or theft which are apparent losses. In the current scenario, the NRW is alarming at an exponential rate leading to water scarcity and associated issues. The demand to troubleshoot the non-revenue water has led to innovated various technologies among which smart water meter is one of the most prominent technology prevailing in the industry and has been widely accepted by various governments. The smart water meter technologies record hourly data related to leakage or loss along with time and date of incidence. The technology also allows the operator to review the gathered data on-site or via any platform. Many of smart water meters are equipped with alarming systems to restrict the incidence of theft or tampering of pipelines. These alarming systems facilitate in driving additional revenue from the end users’ location. The surging demand to monitor, control and reduce non-revenue water is increasing the companies operating in the industry to innovate and design robust technologies, which is driving the market for smart water meters in the current scenario and is also foreseen to help the market to propel in the coming years.

Europe Smart Water Metering Market Overview

The Europe smart water metering market is categorized into France, Germany, Italy, Russia, the UK, and the Rest of Europe. Mega-cities in the UK, Germany, and France are considered to be the nodes of smart water meter growth that encourage the adoption of this technology in the region. Non-revenue water in Europe accounts for an average of 26% of total water across the European utilities. Along with increasing measures toward non-revenue water reduction, there is a growing demand for the efficient use of water resources. Therefore, such a significant amount of non-revenue water demands advanced metering systems to manage revenues across other water usages.

Advanced water metering technology provides user-friendly command control systems, integrated billing technology, secure web-based payments, and online consumer applications, which boost customers toward adopting smart water meter products. In December 2020, Kamstrup—a leading manufacturer of system solutions for smart energy and water metering—signed an agreement with PHYSEC GmbH to develop a LoRaWan—a compatible digital water meter—to provide advanced security mechanisms and LoRaWAN communication technology in the region.

Europe Smart Water Metering Market Revenue and Forecast to 2028 (US$ Million)

Europe Smart Water Metering Market Segmentation

The Europe smart water metering market is segmented into type, component, application, and meter type, and country.

On the basis of type, the Europe smart water metering market has been segmented into advanced metering infrastructure and automatic meter reader. The automatic meter reader segment registered the largest market share in 2022.

On the basis of component, the smart water metering market has been segmented into controlling units, display/storage and integrated software, and others. The display/storage and integrated software segment held a larger market share in 2022.

On the basis of meter type, the smart water meter market has been segmented into ultrasonic meters, electromagnetic meters, and electromechanical meters. Ultrasonic meters segment held the largest market share in 2022.

On the basis of application, the Europe smart water metering market has been segmented into residential and industrial. The residential segment held the largest market share in 2022.

Based on country, the Europe smart water metering market is segmented into Germany, France, Italy, UK, Russia, and the Rest of Europe. Germany dominated the market share in 2022.

Arad Ltd; Badger Meter Inc; Bmeters SRL; Diehl Stiftung & Co KG; Itron Inc; Kamstrup AS; Mueller Water Products Inc; Neptune Technology Group Inc; Sensus USA Inc; WAVIoT Integrated Systems LLC are the leading companies operating in the Europe smart water metering market.

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