Summary

The smart water meter market size reached US$ 7.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 18.4 Billion by 2032, exhibiting a growth rate (CAGR) of 9.7% during 2024-2032. The market is experiencing steady growth driven by the growing concerns about water scarcity due to population growth, urbanization, and climate change, regulatory mandates and government policies to promote water conservation, and rising need for efficient water management.

Smart Water Meter Market Trends:
Growing water scarcity concerns

Water scarcity is a pressing global issue due to population growth, urbanization, and climate change. This concern is a significant driver for the smart water meter market. Smart water meters provide a solution to efficiently manage and conserve water resources. By offering real-time data on water consumption and leak detection, they empower utilities and consumers to take proactive measures to reduce water wastage. Governments and regulatory bodies worldwide are increasingly advocating for the adoption of smart water meters to address water scarcity challenges. This, in turn, is propelling the growth of the market, especially in regions prone to water shortages, as it aligns with sustainability goals and promotes responsible water management practices. As water scarcity is increasing, the demand for smart water meters is rising, making them a vital tool in ensuring sustainable water usage.

Regulatory mandates for water conservation

Regulatory mandates and government policies aimed at promoting water conservation play a crucial role in driving the smart water meter market. Many countries and regions are implementing strict regulations to monitor and reduce water consumption, especially in urban areas facing water stress. Smart water meters enable compliance with these regulations by providing accurate and timely data on water usage. They also facilitate fair billing practices, as consumers are billed based on their actual consumption, discouraging wasteful usage. In response to these regulatory pressures, utilities and municipalities are increasingly adopting smart water metering solutions to ensure compliance, avoid penalties, and demonstrate their commitment to sustainable water management. In addition, the need for regulatory compliance and the drive toward responsible water usage is impelling the growth of the market.

Efficient water management for utilities

The need for efficient water management is catalyzing the demand for smart water meters, particularly for water utilities and municipalities. Smart water meters offer utilities a powerful tool to optimize their operations and resources. These meters provide real-time data on water consumption, enabling utilities to detect leaks, identify unusual usage patterns, and plan maintenance more effectively. This leads to reduced water losses, lower operational costs, and improved service reliability. Additionally, the data collected by smart water meters can be used for demand forecasting, infrastructure planning, and informed decision-making. As utilities are striving to provide reliable water services while minimizing waste and operational expenses, the adoption of smart water meters is becoming increasingly appealing. Thus, the pursuit of efficient water management is bolstering the growth of the market.

Environmental sustainability initiatives

Environmental sustainability initiatives, both from public and private sectors, are driving the adoption of smart water meters. As people are becoming more conscious of environmental issues, there is a growing emphasis on reducing water wastage and conserving this precious resource. Smart water meters play a pivotal role in achieving these sustainability goals. They enable consumers to monitor their water usage in real-time, promoting conscious consumption and reducing water wastage. Additionally, by swiftly detecting leaks and irregularities, smart water meters prevent water loss, which aligns with sustainability objectives.

Smart Water Meter Industry Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on product, meter type, configuration type, component, and application.

Breakup by Product:

Electromagnetic Meter
Ultrasonic Meter
Electromechanical Meter
Others

Electromechanical meter accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the product. This includes electromagnetic meter, ultrasonic meter, electromechanical meter, and others. According to the report, electromechanical meter represented the largest segment as these traditional meters are evolving to incorporate smart features, such as automated data collection and remote monitoring. They use mechanical components to measure water flow, making them robust and reliable. Their widespread use in existing infrastructure and their gradual transition to smart technology contribute to their dominance in the market. They are often preferred for retrofitting older water meter systems, ensuring compatibility and ease of integration with legacy systems.

Breakup by Meter Type:

Smart Hot-Water Meter
Smart Cold-Water Meter

Smart cold-water meter holds the largest share in the industry

A detailed breakup and analysis of the market based on the meter type have also been provided in the report. This includes smart hot-water meter and smart cold-water meter. According to the report, smart cold-water meter accounted for the largest market share.

Breakup by Configuration Type:

Automated Meter Reading (AMR)
Advanced Metering Infrastructure (AMI)

Automated meter reading (AMR) represents the leading market segment

The report has provided a detailed breakup and analysis of the market based on the configuration type. This includes automated meter reading (AMR) and advanced metering infrastructure (AMI). According to the report, automated meter reading (AMR) represented the largest segment.

Breakup by Component:

Meters & Accessories
IT Solutions
Communication System

Meters and accessories represent the leading market segment

The report has provided a detailed breakup and analysis of the market based on the component. This includes meters and accessories, IT solutions, and communication system. According to the report, meters and accessories represented the largest segment.

Breakup by Application:

Water Utilities
Commercial
Industrial
Residential

Residential represents the leading market segment

The report has provided a detailed breakup and analysis of the market based on the application. This includes water utilities, commercial, industrial, and residential. According to the report, residential represented the largest segment.

Breakup by Region:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

North America leads the market, accounting for the largest smart water meter market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

Badger Meter
Kamstrup A/S
Diehl Stiftung & Co. KG
Landis+Gyr
Aclara Technologies LLC (Hubbell Incorporated)
Sensus Worldwide Holdings Limited (Xylem Inc.)
Itron Inc.
Zenner International GmbH & Co. KG
Neptune Technology Group (Roper Technologies)

Key Questions Answered in This Report

1. What was the size of the global smart water meter market in 2023?
2. What is the expected growth rate of the global smart water meter market during 2024-2032?
3. What are the key factors driving the global smart water meter market?
4. What has been the impact of COVID-19 on the global smart water meter market?
5. What is the breakup of the global smart water meter market based on the product?
6. What is the breakup of the global smart water meter market based on the meter type?
7. What is the breakup of the global smart water meter market based on configuration type?
8. What is the breakup of the global smart water meter market based on the component?
9. What is the breakup of the global smart water meter market based on the application?
10. What are the key regions in the global smart water meter market?
11. Who are the key players/companies in the global smart water meter market?

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Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Smart Water Meter Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Product
6.1 Electromagnetic Meter
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Ultrasonic Meter
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Electromechanical Meter
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Others
6.4.1 Market Trends
6.4.2 Market Forecast
7 Market Breakup by Meter Type
7.1 Smart Hot-Water Meter
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Smart Cold-Water Meter
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Configuration Type
8.1 Automated Meter Reading (AMR)
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Advanced Metering Infrastructure (AMI)
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Component
9.1 Meters & Accessories
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 IT Solutions
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Communication System
9.3.1 Market Trends
9.3.2 Market Forecast
10 Market Breakup by Application
10.1 Water Utilities
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Commercial
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 Industrial
10.3.1 Market Trends
10.3.2 Market Forecast
10.4 Residential
10.4.1 Market Trends
10.4.2 Market Forecast
11 Market Breakup by Region
11.1 North America
11.1.1 United States
11.1.1.1 Market Trends
11.1.1.2 Market Forecast
11.1.2 Canada
11.1.2.1 Market Trends
11.1.2.2 Market Forecast
11.2 Asia Pacific
11.2.1 China
11.2.1.1 Market Trends
11.2.1.2 Market Forecast
11.2.2 Japan
11.2.2.1 Market Trends
11.2.2.2 Market Forecast
11.2.3 India
11.2.3.1 Market Trends
11.2.3.2 Market Forecast
11.2.4 South Korea
11.2.4.1 Market Trends
11.2.4.2 Market Forecast
11.2.5 Australia
11.2.5.1 Market Trends
11.2.5.2 Market Forecast
11.2.6 Indonesia
11.2.6.1 Market Trends
11.2.6.2 Market Forecast
11.2.7 Others
11.2.7.1 Market Trends
11.2.7.2 Market Forecast
11.3 Europe
11.3.1 Germany
11.3.1.1 Market Trends
11.3.1.2 Market Forecast
11.3.2 France
11.3.2.1 Market Trends
11.3.2.2 Market Forecast
11.3.3 United Kingdom
11.3.3.1 Market Trends
11.3.3.2 Market Forecast
11.3.4 Italy
11.3.4.1 Market Trends
11.3.4.2 Market Forecast
11.3.5 Spain
11.3.5.1 Market Trends
11.3.5.2 Market Forecast
11.3.6 Russia
11.3.6.1 Market Trends
11.3.6.2 Market Forecast
11.3.7 Others
11.3.7.1 Market Trends
11.3.7.2 Market Forecast
11.4 Latin America
11.4.1 Brazil
11.4.1.1 Market Trends
11.4.1.2 Market Forecast
11.4.2 Mexico
11.4.2.1 Market Trends
11.4.2.2 Market Forecast
11.4.3 Others
11.4.3.1 Market Trends
11.4.3.2 Market Forecast
11.5 Middle East and Africa
11.5.1 Market Trends
11.5.2 Market Breakup by Country
11.5.3 Market Forecast
12 SWOT Analysis
12.1 Overview
12.2 Strengths
12.3 Weaknesses
12.4 Opportunities
12.5 Threats
13 Value Chain Analysis
14 Porters Five Forces Analysis
14.1 Overview
14.2 Bargaining Power of Buyers
14.3 Bargaining Power of Suppliers
14.4 Degree of Competition
14.5 Threat of New Entrants
14.6 Threat of Substitutes
15 Price Indicators
16 Competitive Landscape
16.1 Market Structure
16.2 Key Players
16.3 Profiles of Key Players
16.3.1 Badger Meter
16.3.1.1 Company Overview
16.3.1.2 Product Portfolio
16.3.1.3 Financials
16.3.1.4 SWOT Analysis
16.3.2 Kamstrup A/S
16.3.2.1 Company Overview
16.3.2.2 Product Portfolio
16.3.3 Diehl Stiftung & Co. KG
16.3.3.1 Company Overview
16.3.3.2 Product Portfolio
16.3.4 Landis+Gyr
16.3.4.1 Company Overview
16.3.4.2 Product Portfolio
16.3.4.3 SWOT Analysis
16.3.5 Aclara Technologies LLC (Hubbell Incorporated)
16.3.5.1 Company Overview
16.3.5.2 Product Portfolio
16.3.6 Sensus Worldwide Holdings Limited (Xylem Inc.)
16.3.6.1 Company Overview
16.3.6.2 Product Portfolio
16.3.6.3 SWOT Analysis
16.3.7 Itron Inc.
16.3.7.1 Company Overview
16.3.7.2 Product Portfolio
16.3.7.3 Financials
16.3.7.4 SWOT Analysis
16.3.8 Zenner International GmbH & Co. KG
16.3.8.1 Company Overview
16.3.8.2 Product Portfolio
16.3.9 Neptune Technology Group (Roper Technologies)
16.3.9.1 Company Overview
16.3.9.2 Product Portfolio
16.3.9.3 SWOT Analysis
List of Figures
Figure 1: Global: Smart Water Meter Market: Major Drivers and Challenges
Figure 2: Global: Smart Water Meter Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: Smart Water Meter Market: Breakup by Product (in %), 2023
Figure 4: Global: Smart Water Meter Market: Breakup by Meter Type (in %), 2023
Figure 5: Global: Smart Water Meter Market: Breakup by Configuration Type (in %), 2023
Figure 6: Global: Smart Water Meter Market: Breakup by Component (in %), 2023
Figure 7: Global: Smart Water Meter Market: Breakup by Application (in %), 2023
Figure 8: Global: Smart Water Meter Market: Breakup by Region (in %), 2023
Figure 9: Global: Smart Water Meter Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 10: Global: Smart Water Meter (Electromagnetic Meter) Market: Sales Value (in Million US$), 2018 & 2023
Figure 11: Global: Smart Water Meter (Electromagnetic Meter) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 12: Global: Smart Water Meter (Ultrasonic Meter) Market: Sales Value (in Million US$), 2018 & 2023
Figure 13: Global: Smart Water Meter (Ultrasonic Meter) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 14: Global: Smart Water Meter (Electromechanical Meter) Market: Sales Value (in Million US$), 2018 & 2023
Figure 15: Global: Smart Water Meter (Electromechanical Meter) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 16: Global: Smart Water Meter (Other Products) Market: Sales Value (in Million US$), 2018 & 2023
Figure 17: Global: Smart Water Meter (Other Products) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 18: Global: Smart Water Meter (Smart Hot-Water Meter) Market: Sales Value (in Million US$), 2018 & 2023
Figure 19: Global: Smart Water Meter (Smart Hot-Water Meter) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 20: Global: Smart Water Meter (Smart Cold-Water Meter) Market: Sales Value (in Million US$), 2018 & 2023
Figure 21: Global: Smart Water Meter (Smart Cold-Water Meter) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 22: Global: Smart Water Meter (Automated Meter Reading- AMR) Market: Sales Value (in Million US$), 2018 & 2023
Figure 23: Global: Smart Water Meter (Automated Meter Reading- AMR) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 24: Global: Smart Water Meter (Advanced Metering Infrastructure- AMI) Market: Sales Value (in Million US$), 2018 & 2023
Figure 25: Global: Smart Water Meter (Advanced Metering Infrastructure- AMI) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 26: Global: Smart Water Meter (Meters & Accessories) Market: Sales Value (in Million US$), 2018 & 2023
Figure 27: Global: Smart Water Meter (Meters & Accessories) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 28: Global: Smart Water Meter (IT Solutions) Market: Sales Value (in Million US$), 2018 & 2023
Figure 29: Global: Smart Water Meter (IT Solutions) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 30: Global: Smart Water Meter (Communication Systems) Market: Sales Value (in Million US$), 2018 & 2023
Figure 31: Global: Smart Water Meter (Communication Systems) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 32: Global: Smart Water Meter (Water Utilities) Market: Sales Value (in Million US$), 2018 & 2023
Figure 33: Global: Smart Water Meter (Water Utilities) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 34: Global: Smart Water Meter (Commercial) Market: Sales Value (in Million US$), 2018 & 2023
Figure 35: Global: Smart Water Meter (Commercial) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 36: Global: Smart Water Meter (Industrial) Market: Sales Value (in Million US$), 2018 & 2023
Figure 37: Global: Smart Water Meter (Industrial) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 38: Global: Smart Water Meter (Residential) Market: Sales Value (in Million US$), 2018 & 2023
Figure 39: Global: Smart Water Meter (Residential) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 40: North America: Smart Water Meter Market: Sales Value (in Million US$), 2018 & 2023
Figure 41: North America: Smart Water Meter Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 42: United States: Smart Water Meter Market: Sales Value (in Million US$), 2018 & 2023
Figure 43: United States: Smart Water Meter Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 44: Canada: Smart Water Meter Market: Sales Value (in Million US$), 2018 & 2023
Figure 45: Canada: Smart Water Meter Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 46: Asia Pacific: Smart Water Meter Market: Sales Value (in Million US$), 2018 & 2023
Figure 47: Asia Pacific: Smart Water Meter Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 48: China: Smart Water Meter Market: Sales Value (in Million US$), 2018 & 2023
Figure 49: China: Smart Water Meter Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 50: Japan: Smart Water Meter Market: Sales Value (in Million US$), 2018 & 2023
Figure 51: Japan: Smart Water Meter Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 52: India: Smart Water Meter Market: Sales Value (in Million US$), 2018 & 2023
Figure 53: India: Smart Water Meter Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 54: South Korea: Smart Water Meter Market: Sales Value (in Million US$), 2018 & 2023
Figure 55: South Korea: Smart Water Meter Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 56: Australia: Smart Water Meter Market: Sales Value (in Million US$), 2018 & 2023
Figure 57: Australia: Smart Water Meter Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 58: Indonesia: Smart Water Meter Market: Sales Value (in Million US$), 2018 & 2023
Figure 59: Indonesia: Smart Water Meter Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 60: Others: Smart Water Meter Market: Sales Value (in Million US$), 2018 & 2023
Figure 61: Others: Smart Water Meter Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 62: Europe: Smart Water Meter Market: Sales Value (in Million US$), 2018 & 2023
Figure 63: Europe: Smart Water Meter Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 64: Germany: Smart Water Meter Market: Sales Value (in Million US$), 2018 & 2023
Figure 65: Germany: Smart Water Meter Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 66: France: Smart Water Meter Market: Sales Value (in Million US$), 2018 & 2023
Figure 67: France: Smart Water Meter Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 68: United Kingdom: Smart Water Meter Market: Sales Value (in Million US$), 2018 & 2023
Figure 69: United Kingdom: Smart Water Meter Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 70: Italy: Smart Water Meter Market: Sales Value (in Million US$), 2018 & 2023
Figure 71: Italy: Smart Water Meter Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 72: Spain: Smart Water Meter Market: Sales Value (in Million US$), 2018 & 2023
Figure 73: Spain: Smart Water Meter Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 74: Russia: Smart Water Meter Market: Sales Value (in Million US$), 2018 & 2023
Figure 75: Russia: Smart Water Meter Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 76: Others: Smart Water Meter Market: Sales Value (in Million US$), 2018 & 2023
Figure 77: Others: Smart Water Meter Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 78: Latin America: Smart Water Meter Market: Sales Value (in Million US$), 2018 & 2023
Figure 79: Latin America: Smart Water Meter Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 80: Brazil: Smart Water Meter Market: Sales Value (in Million US$), 2018 & 2023
Figure 81: Brazil: Smart Water Meter Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 82: Mexico: Smart Water Meter Market: Sales Value (in Million US$), 2018 & 2023
Figure 83: Mexico: Smart Water Meter Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 84: Others: Smart Water Meter Market: Sales Value (in Million US$), 2018 & 2023
Figure 85: Others: Smart Water Meter Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 86: Middle East and Africa: Smart Water Meter Market: Sales Value (in Million US$), 2018 & 2023
Figure 87: Middle East and Africa: Smart Water Meter Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 88: Global: Smart Water Meter Industry: SWOT Analysis
Figure 89: Global: Smart Water Meter Industry: Value Chain Analysis
Figure 90: Global: Smart Water Meter Industry: Porter’s Five Forces Analysis
List of Tables
Table 1: Global: Smart Water Meter Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: Smart Water Meter Market Forecast: Breakup by Product (in Million US$), 2024-2032
Table 3: Global: Smart Water Meter Market Forecast: Breakup by Meter Type (in Million US$), 2024-2032
Table 4: Global: Smart Water Meter Market Forecast: Breakup by Configuration Type (in Million US$), 2024-2032
Table 5: Global: Smart Water Meter Market Forecast: Breakup by Component (in Million US$), 2024-2032
Table 6: Global: Smart Water Meter Market Forecast: Breakup by Application (in Million US$), 2024-2032
Table 7: Global: Smart Water Meter Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 8: Global: Smart Water Meter Market: Competitive Structure
Table 9: Global: Smart Water Meter Market: Key Players