Market by Technology, End-user, and Regional Outlook | Forecast 2022-2028
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 Adverse circumstances, such as outdated infrastructure, are increasingly contributing to NRW losses.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.
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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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
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)
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)