GLOBAL SMART WATER METER MARKET 2022-2028

Energy, Power & Utilities | Utilities

GLOBAL SMART WATER METER MARKET 2022-2028

Market by Technology, End-user, and Regional Outlook | Forecast 2022-2028

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A smart water meter can be defined as “a mechanical or static device that is equipped with radio frequency (RF)-based communication modules such as NB-IoT, SigFox, Wireless M-Bus, LoRa, LTE-M, Zigbee, WIZE, GPRS, GSM, etc., which facilitates 1-way or 2-way communication between the device and operators. It does not include water meters with a pulse RF module.”

According to Triton Market Research’s report, the Global Smart Water Meter Market is likely to grow with a CAGR of 7.65% in the forecast period 2022-2028. The market was valued at $4136.24 million in 2021 and is expected to reach a revenue of $6974.22 million by 2028.


Click here to check out our blog on the Global Smart Water Meter Market

MARKET PERFORMANCE: DRIVERS, CHALLENGES, AND TRENDS

Rising demand for sustainable water supply across various industries, as well as the advantages offered by smart water meters, are likely to drive market expansion over the forecast period. Smart water systems are data analytics technologies that enable utilities to identify leaks, switch off valves remotely, and receive intelligent warnings for prompt action. Predictive modeling, leak protection, and water pressure monitoring are amongst the advantages offered by smart water meters, and these applications are crucial in the market to handle the operational difficulties of water management.

However, the market faces substantial hurdles such as limited budgets for smart systems, higher costs of smart water meter installation, and operational issues. Unlike conventional meters, smart meters rely on digital components and communication networks to operate & communicate data. The cost of smart metering equipment rises as a result. Furthermore, different smart meters are created with varying specifications based on operational and consumer requirements, resulting in increased expenses.

Furthermore, the increased focus on non-revenue water (NRW) accountability is projected to provide prospects for the market. Adverse circumstances, such as outdated infrastructure, are increasingly contributing to NRW losses. NRW is water that is generated but lost due to theft, evaporation, inaccurate metering, poor data collection, and, most importantly, leakage. The Bureau of Meteorology estimated NRW loss in Australia to be 878,027ML over the last five years, accounting for 10% of utilities’ system input in 2018. The demand for proper NRW management is expected to drive the adoption of smart water meters.



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KEY GEOGRAPHIES COVERED:

•         North America: United States and Canada

•         Europe: United Kingdom, France, Germany, Spain, Italy, and Rest of Europe

•         Asia-Pacific: China, Japan, India, Australia & New Zealand, South Korea, ASEAN Countries, and Rest of Asia-Pacific

•         Latin America: Brazil, Mexico, and Rest of Latin America

•         Middle East and Africa: Saudi Arabia, Turkey, United Arab Emirates, South Africa & Rest of Middle East & Africa


SEGMENTATION ANALYSIS – SMART WATER METER MARKET:

•         Technology is sub-segmented into:

o        Automatic meter reading (AMR)

o        Advanced metering infrastructure (AMI)

Because of their lower costs, AMR water meters used to be the preferred choice a few years back, compared to AMI water meters. However, they do not provide extensive data. To collect the data, they need a drive-by or walk-by vehicle. Given the limitations of AMR meters, utilities are now seeking more out of their investment. As a consequence, utilities have started to deploy AMI meters, which have a larger data collection capacity.

•         End-user is sub-segmented into:

o        Residential

o        Commercial & Industrial

In 2021, the largest end-user was residential, with a revenue share of 88.56%. Consumers are modernizing their homes by installing smart water management systems like smart water meters. As software and technology get affordable and more accessible, this adoption rate is rapidly increasing.

 

COMPETITIVE LANDSCAPE:

The competitive landscape helps dive into data about the key players in the smart water meter market. The strategic initiatives for each of the companies considered have been covered in detail.

Collaboration (May 2022): HydroPro Solutions and Master Meter

HydroPro Solutions, a Master Meter Premier Partner in California, has expanded its distribution partnership with Master Meter.

Acquisition (June 2021): Mueller Water Products

Mueller Water Products Inc paid $20 million in cash to purchase i2O Water Ltd. To reduce water loss, i2O Water provides intelligent water networks to over 100 water corporations in over 45 countries.

Product Launch (May 2021): Diehl Metering

The HYDRUS 2.0 BULK is Diehl Metering’s first ultrasonic bulk meter. It provides exceptional accuracy over the course of its lifetime, as well as robust connection and exceptionally exact and reliable measurements.

 

Key Benefits of the Report:

●  Triton Market Research has a collective experience of 25-30 years in the industry, with its analysts and experts encompassing the most infallible research methodology for its market intelligence and industry analysis.

      Our research methodology helps in achieving a broader consensus of the market size, shape, and industry trends within each industry segment.

    The strategy adopted in designing the research methodology includes the amalgamation of the information assembled from primary and secondary sources, with the assistance of analytical tools to construct the forecast and predictive models.

     The scope of the market report comprises the current scenario of the global smart water meter market, along with a detailed overview of the industry outlook, market dynamics, segmentation analysis, regional outlook, and competitive landscape for the period 2022-2028.

 

FAQs:

Q 1) Does this report include the impact of COVID-19 on the smart water meter market?

The market study has analyzed the impact of COVID-19 on the smart water meter industry qualitatively as well as quantitatively.

Q 2) Any promising end-user that can prove key investment pocket in coming years?

Commercial (hospitals, offices, schools, retailers, and restaurants) & industrial (manufacturing plants or facilities and warehouses) are likely to be the end-user segments that can prove key investment pockets in the coming years. 

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Table of Content

1. GLOBAL SMART WATER METER MARKET – SUMMARY

2. INDUSTRY OUTLOOK

2.1. IMPACT OF COVID-19 ON THE SMART WATER METER MARKET

2.2. PARENT MARKET ANALYSIS: SMART METER MARKET

2.3. KEY INSIGHTS

2.3.1. SHRINKING WATER RESOURCES ACROSS THE WORLD

2.3.2. INCREASING FOCUS ON ACCOUNTABILITY OF NON-REVENUE WATER (NRW)

2.3.3. ADVANCED METERING INFRASTRUCTURE (AMI) ANTICIPATED TO PROJECT THE HIGHEST CAGR

2.4. PORTER’S FIVE FORCES ANALYSIS

2.4.1. THREAT OF NEW ENTRANTS

2.4.2. THREAT OF SUBSTITUTES

2.4.3. BARGAINING POWER OF BUYERS

2.4.4. BARGAINING POWER OF SUPPLIERS

2.4.5. THREAT OF COMPETITIVE RIVALRY

2.5. MARKET ATTRACTIVENESS INDEX

2.6. VENDOR SCORECARD

2.7. INDUSTRY COMPONENTS

2.8. KEY STRATEGIC DEVELOPMENTS

2.8.1. MERGERS & ACQUISITIONS

2.8.2. PRODUCT LAUNCHES & DEVELOPMENTS

2.8.3. PARTNERSHIPS & AGREEMENTS

2.9. MARKET DRIVERS

2.9.1. RISING DEMAND FOR SUSTAINABLE WATER SUPPLY ACROSS VARIOUS INDUSTRIES

2.9.2. BENEFITS OFFERED BY SMART WATER METERS

2.10. MARKET CHALLENGES

2.10.1. LIMITED BUDGET ALLOCATION FOR SMART SYSTEMS

2.10.2. HIGH COST OF SMART WATER METER INSTALLATION

2.10.3. OPERATIONAL ISSUES

2.11. MARKET OPPORTUNITIES

2.11.1. EVOLVING SUSTAINABLE WATER MANAGEMENT SYSTEMS

2.11.2. SMART CITY PROJECTS IN THE PIPELINE ACROSS THE WORLD

3. GLOBAL SMART WATER METER MARKET OUTLOOK – BY TECHNOLOGY

3.1. AUTOMATIC METER READING (AMR)

3.2. ADVANCED METERING INFRASTRUCTURE (AMI)

4. GLOBAL SMART WATER METER MARKET OUTLOOK – BY END-USER

4.1. RESIDENTIAL

4.2. COMMERCIAL & INDUSTRIAL

5. GLOBAL SMART WATER METER MARKET – REGIONAL OUTLOOK

5.1. NORTH AMERICA

5.1.1. MARKET BY TECHNOLOGY

5.1.2. MARKET BY END-USERS

5.1.3. COUNTRY ANALYSIS

5.1.3.1. UNITED STATES

5.1.3.2. CANADA

5.2. EUROPE

5.2.1. MARKET BY TECHNOLOGY

5.2.2. MARKET BY END-USERS

5.2.3. COUNTRY ANALYSIS

5.2.3.1. UNITED KINGDOM

5.2.3.2. GERMANY

5.2.3.3. FRANCE

5.2.3.4. SPAIN

5.2.3.5. ITALY

5.2.3.6. REST OF EUROPE

5.3. ASIA-PACIFIC

5.3.1. MARKET BY TECHNOLOGY

5.3.2. MARKET BY END-USERS

5.3.3. COUNTRY ANALYSIS

5.3.3.1. CHINA

5.3.3.2. JAPAN

5.3.3.3. INDIA

5.3.3.4. SOUTH KOREA

5.3.3.5. ASEAN COUNTRIES

5.3.3.6. AUSTRALIA & NEW ZEALAND

5.3.3.7. REST OF ASIA-PACIFIC

5.4. LATIN AMERICA

5.4.1. MARKET BY TECHNOLOGY

5.4.2. MARKET BY END-USERS

5.4.3. COUNTRY ANALYSIS

5.4.3.1. BRAZIL

5.4.3.2. MEXICO

5.4.3.3. REST OF LATIN AMERICA

5.5. MIDDLE EAST AND AFRICA

5.5.1. MARKET BY TECHNOLOGY

5.5.2. MARKET BY END-USERS

5.5.3. COUNTRY ANALYSIS

5.5.3.1. UNITED ARAB EMIRATES

5.5.3.2. SAUDI ARABIA

5.5.3.3. TURKEY

5.5.3.4. SOUTH AFRICA

5.5.3.5. REST OF MIDDLE EAST & AFRICA

6. COMPETITIVE LANDSCAPE

6.1. ACLARA TECHNOLOGIES LLC (ACQUIRED BY HUBBELL INCORPORATED)

6.2. ARAD GROUP

6.3. BADGER METER INC

6.4. DATAMATIC INC

6.5. DIEHL STIFTUNG & CO KG

6.6. MASTER METER INC (ACQUIRED BY ARAD LTD)

6.7. MUELLER WATER PRODUCTS INC

6.8. NEPTUNE TECHNOLOGY GROUP INC

6.9. SENSUS (ACQUIRED BY XYLEM)

6.10. ZENNER INTERNATIONAL GMBH & CO KG

6.11. ELSTER GROUP GMBH

6.12. ICSA (INDIA) LIMITED

6.13. ITRON INC

6.14. KAMSTRUP AS

6.15. LANDIS+GYR AG

7. RESEARCH METHODOLOGY & SCOPE

7.1. RESEARCH SCOPE & DELIVERABLES

7.2. SOURCES OF DATA

7.3. RESEARCH METHODOLOGY

List of Tables

TABLE 1: GLOBAL SMART WATER METER MARKET, BY REGIONAL OUTLOOK, 2022-2028 (IN $ MILLION) 

TABLE 2: VENDOR SCORECARD        

TABLE 3: LIST OF MERGERS & ACQUISITIONS      

TABLE 4: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS    

TABLE 5: LIST OF PARTNERSHIPS & AGREEMENTS       

TABLE 6: 10 COUNTRIES WITH THE HIGHEST % OF THE POPULATION LACKING BASIC ACCESS TO WATER, 2019 

TABLE 7: NUMBER OF PEOPLE NOT HAVING ACCESS TO SAFE WATER IN TOP 10 COUNTRIES, 2017    

TABLE 8: GLOBAL SMART WATER METER MARKET, BY TECHNOLOGY OUTLOOK, 2022-2028 (IN $ MILLION) 

TABLE 9: VARIOUS ADVANTAGES OF AMR SYSTEMS     

TABLE 10: GLOBAL SMART WATER METER MARKET, BY END-USER OUTLOOK, 2022-2028 (IN $ MILLION) 

TABLE 11: GLOBAL SMART WATER METER MARKET, BY REGIONAL OUTLOOK, 2022-2028 (IN $ MILLION) 

TABLE 12: NORTH AMERICA SMART WATER METER MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)    

TABLE 13: NORTH AMERICA SMART WATER METER MARKET, BY TECHNOLOGY OUTLOOK, 2022-2028 (IN $ MILLION)       

TABLE 14: NORTH AMERICA SMART WATER METER MARKET, BY END-USER OUTLOOK, 2022-2028 (IN $ MILLION) 

TABLE 15: EUROPE SMART WATER METER MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION) 

TABLE 16: EUROPE SMART WATER METER MARKET, BY TECHNOLOGY OUTLOOK, 2022-2028 (IN $ MILLION) 

TABLE 17: EUROPE SMART WATER METER MARKET, BY END-USER OUTLOOK, 2022-2028 (IN $ MILLION) 

TABLE 18: ASIA-PACIFIC SMART WATER METER MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION) 

TABLE 19: ASIA-PACIFIC SMART WATER METER MARKET, BY TECHNOLOGY OUTLOOK, 2022-2028 (IN $ MILLION)       

TABLE 20: ASIA-PACIFIC SMART WATER METER MARKET, BY END-USER OUTLOOK, 2022-2028 (IN $ MILLION) 

TABLE 21: LATIN AMERICA SMART WATER METER MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)    

TABLE 22: LATIN AMERICA SMART WATER METER MARKET, BY TECHNOLOGY OUTLOOK, 2022-2028 (IN $ MILLION)       

TABLE 23: LATIN AMERICA SMART WATER METER MARKET, BY END-USER OUTLOOK, 2022-2028 (IN $ MILLION) 

TABLE 24: MIDDLE EAST AND AFRICA SMART WATER METER MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)        

TABLE 25: MIDDLE EAST AND AFRICA SMART WATER METER MARKET, BY TECHNOLOGY OUTLOOK, 2022-2028 (IN $ MILLION) 

TABLE 26: MIDDLE EAST AND AFRICA SMART WATER METER MARKET, BY END-USER OUTLOOK, 2022-2028 (IN $ MILLION)        

List of Figures

FIGURE 1: PROCESS FLOW OF SMART WATER METERS

FIGURE 2: MARKET ATTRACTIVENESS INDEX      

FIGURE 3: INDUSTRY COMPONENTS – SMART METERS

FIGURE 4: TYPES OF SMART METERS        

FIGURE 5: GLOBAL SMART WATER METER MARKET, TECHNOLOGY OUTLOOK, 2021 & 2028 (IN %) 

FIGURE 6: GLOBAL SMART WATER METER MARKET, BY AUTOMATIC METER READING (AMR), 2022-2028 (IN $ MILLION

FIGURE 7: GLOBAL SMART WATER METER MARKET, BY ADVANCED METERING INFRASTRUCTURE (AMI), 2022-2028 (IN $ MILLION)

FIGURE 8: GLOBAL SMART WATER METER MARKET, BY END-USER OUTLOOK, 2021 & 2028 (IN %) 

FIGURE 9: GLOBAL SMART WATER METER MARKET, BY RESIDENTIAL, 2022-2028 (IN $ MILLION)

FIGURE 10: GLOBAL SMART WATER METER MARKET, BY COMMERCIAL & INDUSTRIAL, 2022-2028 (IN $ MILLION)    

FIGURE 11: GLOBAL SMART WATER METER MARKET, REGIONAL OUTLOOK, 2021 & 2028 (IN %) 

FIGURE 12: UNITED STATES SMART WATER METER MARKET 2022-2028 (IN $ MILLION)      

FIGURE 13: CANADA SMART WATER METER MARKET 2022-2028 (IN $ MILLION)    

FIGURE 14: UNITED KINGDOM SMART WATER METER MARKET 2022-2028 (IN $ MILLION)        

FIGURE 15: GERMANY SMART WATER METER MARKET 2022-2028 (IN $ MILLION)    

FIGURE 16: FRANCE SMART WATER METER MARKET 2022-2028 (IN $ MILLION)    

FIGURE 17: SPAIN SMART WATER METER MARKET 2022-2028 (IN $ MILLION)

FIGURE 18: ITALY SMART WATER METER MARKET 2022-2028 (IN $ MILLION)

FIGURE 19: REST OF EUROPE SMART WATER METER MARKET 2022-2028 (IN $ MILLION)        

FIGURE 20: CHINA SMART WATER METER MARKET 2022-2028 (IN $ MILLION)

FIGURE 21: JAPAN SMART WATER METER MARKET 2022-2028 (IN $ MILLION)

FIGURE 22: INDIA SMART WATER METER MARKET 2022-2028 (IN $ MILLION)

FIGURE 23: SOUTH KOREA SMART WATER METER MARKET 2022-2028 (IN $ MILLION)      

FIGURE 24: ASEAN COUNTRIES SMART WATER METER MARKET 2022-2028 (IN $ MILLION)        

FIGURE 25: AUSTRALIA & NEW ZEALAND SMART WATER METER MARKET 2022-2028 (IN $ MILLION)    

FIGURE 26: REST OF ASIA-PACIFIC SMART WATER METER MARKET 2022-2028 (IN $ MILLION)

FIGURE 27: BRAZIL SMART WATER METER MARKET 2022-2028 (IN $ MILLION)

FIGURE 28: MEXICO SMART WATER METER MARKET 2022-2028 (IN $ MILLION)    

FIGURE 29: REST OF LATIN AMERICA SMART WATER METER MARKET 2022-2028 (IN $ MILLION)

FIGURE 30: UNITED ARAB EMIRATES SMART WATER METER MARKET 2022-2028 (IN $ MILLION)

FIGURE 31: SAUDI ARABIA SMART WATER METER MARKET 2022-2028 (IN $ MILLION)  

FIGURE 32: TURKEY SMART WATER METER MARKET 2022-2028 (IN $ MILLION)    

FIGURE 33: SOUTH AFRICA SMART WATER METER MARKET 2022-2028 (IN $ MILLION)      

FIGURE 34: REST OF MIDDLE EAST & AFRICA SMART WATER METER MARKET 2022-2028 (IN $ MILLION)     

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