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Smart Water Meter Market to Surge at 10.6% CAGR till 2026; Increasing Adoption of Automation Water Reading Solutions to Feed Market Growth

April 23, 2020 | Energy & Power

The global smart water meter market size is set to touch USD 3.07 billion by 2026 owing to rapid growth in residential spaces around the world. Fortune Business Insights™ shares this analysis in its recent report, titled Smart Water Meter Market Size, Share and Industry Analysis, By Type (Auto Meter Reading and Advanced Metering Infrastructure), By Application (Residential, Commercial and Industrial), and Regional Forecast, 2019-2026”. Further, the report states that the value of this market stood at USD 1.38 billion in 2018 and is anticipated to register a CAGR of 10.6% from 2019 to 2026.


India’s EESL Installs 10 Lakh Smart Meters across the Country


Active participation of governments in initiating efficient water management programs is one of the emerging smart water meter market trends, especially in developing nations. In February 2020, Indian government-owned Energy Efficiency Services Limited (EESL) announced that it has successfully installed over 10 lakh smart meters across the nation under the Smart Meter National Program of the Ministry of Power and Renewable Energy. The aim of the program is to install 25crore smart meters covering power and water over the course of next couple of years. The need for smart metering systems is, therefore, dire in a country like India where population growth is high and the rate of urbanization and industrialization is rapidly gathering steam.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/smart-water-metering-market-100776


Growing Emphasis on Sustainable Use of Water to Propel the Market


Only about 0.003% of the world’s fresh water resources, those that can be used for hygiene, industry, drinking, and agriculture,are accessible to us. However, the rate of population growth and the ensuing economic activities far exceed the rate of replenishment of these resources, creating an acute scarcity and skewed availability of water across the globe. The UN Department of Economic and Social Affairs projects that world population will touch 8.5 billion by 2030 and somewhere between 9.5 billion and 13.3 billion by 2100. According to the UN Food and Agriculture Organization (FAO), the rate of water withdrawal globally grew 1.7 times faster than population, punctuating the need for sustainable use of water. In this scenario, many countries are turning toward utilizing smart water management systems to effectively regulate water consumption and reduce wastage, which augurs well for the smart water metering market growth.


Dominant Presence of Big Players to Monopolize Competition


The smart water meter market forecast envisions that the competition in this market will increasingly don the feature of a monopoly owing to the strong foothold of dominant players such as Kamstrup and Landis+Gyr. These players have a strong global presence, diverse portfolio of solutions, and robust financial foundations. Nonetheless, many relatively smaller players such as Sensus and BMETER are investing in innovation and coming out with exciting new technologies and products, providing stiff competition to the established players.


Industry Development



  • August 2019: Singapore’s National Water Agency, the Public Utilities Board (PUB), appointed CH2M HILL Singapore Private Limited, a global engineering leader, as the nodal Advanced Metering Infrastructure (AMI) agency for the country’s roll-out of the Smart Water Meter Program. The first phase of the program aims at fitting 300,000 automated water meters across the residential, commercial, and industrial spaces in the country by 2023. 


List of Key Players Covered in the Market Report:



  • Honeywell (US)

  • BMETER (UK)

  • Aclara Technologies (US)

  • Diehl (Germany)

  • Landis + Gyr (Switzerland)

  • Kamsturp (Denmark)

  • ZENNER (US)

  • Datamatic (India)

  • Sensus (US)

  • Neptune Technology Group Inc (US)

  • Badger Meter (US)

  • Itron (US)


Further Report Findings:



  • The market size in Europe stood at USD 0.48 billion in 2018 and the region is forecasted to command the market share during the forecast period. The primary reason for this is the supportive policy environment in the European Union (EU) for the adoption of smart water management technologies.

  • In Asia-Pacific, growing awareness regarding smart water meters will propel the market, but growth is expected to be slow in the Middle East & Africa region, the smart water metering market analysis finds.

  • The residential segment (by application) is anticipated to lead the market on account of increasing urbanization in emerging economies. The segment held a share of 47.1% in 2018.


Global Smart Water Meter Market Scope&Segmentation:







































Global Smart Water Meter Market Scope



Study Period



2015-2026



Base Year



2018



Forecast Period



2019-2026



Historical Period



2015-2017



Unit



Value (USD Billion)



Segmentation



By Type



  • Auto Meter Reading

  • Advanced Metering Infrastructure



By Application



  • Residential

  • Commercial

  • Industrial



By Geography



  • North America (U.S. and Canada)

  • Europe (U.K., Germany, France, Italy, Spain, Russia, and Rest of Europe)

  • Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia- Pacific)

  • Latin America (Brazil, Mexico, Colombia, Argentina, and Rest of Latin America)

  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)


Smart Water Meter Market
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  • 2015-2017
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