Smart Water Metering Market Size, Key Insights, Profiling Companies And Growth Strategies By 2028

The Smart Water Metering Market is expected to be valued at US$ 3,359.84 million in 2022 and is expected to reach US$ 5,954.65 million by 2028; it is estimated to grow at a CAGR of 10.0% from 2022 to 2028.

The world is facing a huge scarcity of water owing to practices such as illegal tapping, tampering with pipelines, and leakage. Owing to this, water scarcity is rapidly increasing in the current scenario and the issue is anticipated to increase in the near future. The substantial demand for an advanced solution has led to development and implementation of smart water meters, which can monitor the consumption pattern and supervising and recording leakage, theft, and illegal tampering. Smart water meters are wired, or wireless mechanisms integrated with data management programs through which the users or operators can review/check the consumption pattern.

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The List of Companies -
1. Arad Ltd
2. Badger Meter Inc
3. Bmeters SRL
4. Diehl Stiftung & Co KG
5. Itron Inc
6. Kamstrup AS
7. Mueller Water Products Inc
8. Neptune Technology Group Inc
9. Sensus USA Inc
10. WAVIoT Integrated Systems LLC

Various governments of developed and developing regions across the globe are constantly increasing their interest in adopting 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 with water scarcity problems across the globe. Thus, water scarcity and demand for proper handling of water consumption patterns are increasing the adoption of smart water meters, thereby bolstering the smart water metering market growth.

Asia Pacific is anticipated to be the third largest region in the smart water metering market in 2022 and is projected to retain its dominance during the forecast period as well. The smart water metering market size in Asia Pacific is likely to undergo a rapid transformation as a result of enhanced focus on metering, market consolidation, and evolving business models in the region. The smart water metering market growth is expected to spike up in Asia Pacific as governments intervene to reduce non-revenue water, lower operational expenditures, and achieve better demand management. Also, metering-as-a-service and static metering technology models are expected to intensify the smart water metering market scenario in Asia. Utilities have realized the importance of increasing cost recovery in ensuring the financial and environmental sustainability of the water supply. Also, healthy investments from the private sector would improve the smart water meter penetration in the region.

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The investment involved in installation and deployment of smart water meters is comparatively much higher than that of traditional systems. This is because smart water meters have various advantages in monitoring, checking, and reducing non-revenue water costs. The wired or wireless smart water meters are integrated with sensors, data loggers, communication devices, and data management systems that sense, record, and transfer the data to the cloud or designed storage platform that is usable by the operator at any point in time. In addition, the pipelines range hundreds of miles from water treatment plants to their destination, and the water management authorities need to deploy large numbers of smart meters to monitor the pipelines owing to limited bandwidth. This factor also incurs huge investments. Owing to high initial investments, several developing countries are restraining the deployment of such advanced technologies, negatively impacting the smart water metering market growth.

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