Global Smart Water Meter Market: Technological Advancements and Future Opportunities and Current Ind

The smart water meter market size is set to reach $2.4 billion by 2025, growing at a CAGR of 11.1% between 2016-2025. The market is being driven by several factors such as increased accessibility of consumers and water utilities, minimization of non-revenue water, growing interest of water utilizes towards installation of smart water meters and government support.

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In terms of application, the smart water meter market includes water utilities, industrial and residential. Water utilities was globally the largest application segment of smart water meters in 2015. The fastest growth in demand is expected in the residential application during the forecast period.

Europe was globally the second largest market for smart water meters, accounting more than 35% of the worldwide revenue in 2015. The vendors in the European smart water meter industry are evolving their solutions in the managed service model, which eliminates the initial capital requirement to improve the return on investment by hosting several utility operations by their own. The major smart water meter market in Europe include Germany, France, Italy, the U.K., and Spain.

Smart metering has quick response for a given command as compared to traditional dumb meters, which also facilitates easy billing. These advantages also facilitate improved service incentive mechanism (SIM) score for a given water provider. The smart meters also save the cost of water utilities associated with manual checking of meter by personnel visiting the consumer premises.

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The major companies operating in the smart water meter market are Badger Meter Inc., Itron Inc., Landis+Gyr AG, Elster Group GmbH, Kamstrup A/S, Aclara Technologies LLC, Neptune Technology Group Inc., Diehl Stiftung & Co. KG, Sensus and Aquiba Pty Ltd.

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P&S Market Research is a global market research and consulting company. We provide market research reports, industry reports, business intelligence and research based consulting services across a range of industries.