Smart Water Metering Market Set to Soar Past USD 16.51 Billion by 2030
SkyQuest Technology Consulting Pvt. Ltd.
4 min read
SkyQuest Technology Consulting Pvt. Ltd.
The global Smart Water Metering market size is expected to reach USD 16.51 billion by 2030 and exhibit a CAGR of 10% in the forecast period (2023−2030), according to Skyquest's latest research report. The increasing focus on water conservation and management, growing demand for accurate and real-time water consumption data, rising need for efficient water billing and revenue management systems, integration of smart water metering with smart city initiatives, aging water infrastructure and the need for leak detection and water loss prevention, are fueling the Market's growth.
Westford, USA, Aug. 29, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest's latest global research of the Smart Water Metering market, adoption of advanced metering infrastructure (AMI) technology, integration of data analytics and artificial intelligence (AI) in water management, increasing use of wireless communication technologies such as LoRaWAN and NB-IoT, focus on smart water metering in commercial and industrial sectors, the emergence of smart city initiatives driving the implementation of smart water meters, deployment of smart water meters in residential buildings and multi-unit dwellings, emphasis on water conservation and demand-side management, are the trends that aid in the market's growth.
Browse in-depth TOC on "Smart Water Metering Market"
Smart water metering is a system that uses digital meters to measure and record water usage in real time. This data can be used by utilities to improve water efficiency, reduce non-revenue water, and manage their water assets.
Prominent Players in Smart Water Metering Market
Aclara Technologies
Arad Group
Badger Meter
Diehl Stiftung & Co. KG
Itron
Kamstrup
Landis+Gyr
Neptune Technology Group
Sensus
B METERS
Datamatic
Honeywell
ZENNER
ABB
Endress+Hauser
Flowbird
Ista
MeterStik
Mueller Water Products
Sagemcom
Siemens
Suntront
Browse summary of the report and Complete Table of Contents (ToC):
Residential Water Meters Demand to Grow Substantially in the Forecast Period
Residential Water Meters dominated the global market as it caters to a large audience. The global population growth, urbanization, and increasing awareness of water conservation have led to a rising demand for residential water meters. These meters help households monitor and manage their water consumption, promote water-saving behaviours and enable accurate billing based on actual usage. The large-scale deployment of residential water meters can contribute to their dominance in the market.
Residential Segment is the Leading Application Segment
Regarding application, residential is the leading segment due to the demand for smart meters. In addition, residential water meters are installed in individual households, and the rising global population, increasing urbanization, and growing focus on water conservation have led to a surge in demand for residential water metering solutions. Deploying intelligent water meters in residential buildings enables accurate measurement of water consumption, helps identify leaks, and promotes water conservation among homeowners.
North America is the leading Market as the Regions are Developing Water Infrastructure
Region-wise, North America is one of the largest growing markets with a huge emphasis on water infrastructure. The region has been proactive in upgrading its water infrastructure, driven by factors such as ageing infrastructure, water scarcity concerns, and the need for accurate measurement and billing. Several regional utilities and municipalities have implemented advanced metering infrastructure (AMI) systems and smart water metering solutions to improve water management, detect leaks, and optimize operations.
A recent report thoroughly analyzes the major Smart Water Metering market players. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Smart Water Metering.
Key Developments in Smart Water Metering Market
As part of a 5-year programme, Anglian Water is actively installing 1.1 million freshly updated water meters for homes and businesses while spending more than USD 231.06 million. This makes it possible for the corporation to conserve future water resources with its long-term demand management approach.
SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.
