A North America 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)

North America 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 North America smart water metering market is expected to grow from US$ 1,400.59 million in 2022 to US$ 2,528.28 million by 2028. It is estimated to grow at a CAGR of 10.3% from 2022 to 2028.

Increasing Water Scarcity and Misuse of Water is Driving the Smart Water Metering Market

The world is facing a huge scarcity of water owing to practices such as illegal tapping, tampering of pipelines, and leakage, among others. Owing to this, water scarcity is rapidly increasing in the current scenario and the issue is anticipated to increase in the near future. According to WWF (World Wildlife Fund), approximately 1.1 billion people globally lack access to water, totaling to 2.7 billion find water scarce. In addition to this, another major problem faced by various regions is the misuse of water which has significantly raised the demand for advanced solutions to maintain the consumption pattern from the source to destination. The substantial demand for an advanced solution has led to development and implementation of smart water meters, which are capable of monitoring the consumption pattern along with supervising and recording the leakage, theft, and illegal tampering. The smart water meters are wired or wireless mechanisms, integrated with data management programs through which the user or operators are able to review/check the consumption pattern. The technological advancements in the field of water conservation are a major progress to fight water scarcity. Various governments of developed and developing regions across the globe are constantly increasing their interest in adopting these robust technologies to provide an adequate quantity of water to the mass. In addition, various private organizations are also striving hard to implement technologically enriched smart water management systems to cope up with water scarcity problems across the globe. Thus, water scarcity and demand for proper maintenance of water consumption pattern is increasing the adoption of smart water meters thereby bolstering the market for smart water meter and this trend is to foresee to continue in the future.

Smart Water Metering Market Overview

North America comprises the US, Canada, and Mexico. The US is a developed country in terms of modern technology, the standard of living, infrastructure, and many others. Also, affordability concerns regarding the development of water infrastructures have reached a critical stage. The US Environmental Protection Agency (EPA) manages two State Revolving Fund programs — the Clean Water State Revolving Fund (CWSRF) and the Drinking Water State Revolving Fund (DWSRF). In addition, DWSRF is co-funded by the federal and state government, with 80% and 20%, respectively. Furthermore, the water industry’s investors have focused on opportunistic upgrades—primarily to support smart-meter installation and data collection and visualization rather than full network optimization. Governments in the region continue to take measures to reduce unyielding water usage and undergo modernization and to replace older water meters with avant-garde smart water meters, which is becoming major trends in the region.

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

North America Smart Water Metering Market Segmentation

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

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

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

Based on country, the North America smart water metering market is segmented into the US, Canada, and Mexico. The US 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 North America smart water metering market.

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