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Smart Water Metering Market Trends 2022 Industry Size, Segments, Share, Key Players and Growth Factor Analysis by 2030

The global smart water metering market value was US$ 4.89 billion in 2020. The global smart water metering market value is forecast to reach US$ 9.71 billion by 2030, with a growing compound annual growth rate (CAGR) of 7.3% during the forecast period from 2021-2030.

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The smart water metering system is a technologically enhanced platform that enables utilities to automatically collect consumption data, improve efficiency, eliminate manual meter reading, and reduce costs. Additionally, the Smart water metering system uses wired and wireless communications technology, such as the Wi-Fi water meter, to connect LAN or wide area networks, allowing convenient remote monitoring and infrastructure maintenance through leak detection. Furthermore, smart water meters can contribute to billing water, energy consumption, and natural gas in the industrial, residential, and commercial sectors. Smart electronic water metering is also equipped with water mapping solutions throughout the supply chain of the water utility and offers reliable monitoring.

Factors Influencing Market Growth

Smart water metering uses the Internet of Things to measure water usage but cannot influence water consumption patterns by itself. Further, Smart water meters consist of materials like thermoplastics, which allows enterprises to recycle them in order to promote sustainability. Additionally, the growing need for digitization in water industry operations offers opportunities for market growth.

The market share of smart water metering is forecast to grow significantly during the forecast period due to an increase in demand for accurate water billing solutions. Furthermore, the rise in utilities focuses on reducing non-revenue water has driven the growth of the market.

The lack of government initiatives is limiting market growth.

During the forecast period, digitization of the water industry operations is likely to provide lucrative opportunities for the growth of the smart water metering market.

A release on June 8th, 2021, by the Bureau and Economic Analysis and U.S. Census Bureau reports the recovering of the U.S. market. The report also described the recovery of U.S. International Trade in July 2021.In April 2021, exports in the country reached $300 billion, an increase of $13.4 billion. In April 2021, imports amounted to $294.5 billion, increasing by $17.4 billion. COVID19 is still a significant issue for economies around the globe, as evidenced by the year-over-year decline in exports in the U.S. between April 2020 and April 2021 and the increase in imports over that same period of time. The market is clearly trying to recover. Despite this, it means there will be a direct impact on the Healthcare/ICT/Chemical industries, resulting in a large market for Smart Water Metering Market.

Impact Analysis of COVID-19

COVID-19 has adversely affected the growth of the global smart water metering market in 2020. Due to the absence of government regulations or initiatives, the market is likely to grow relatively slowly during the forecast period. COVID-19 created many obstacles in the construction industry, such as a lack of raw materials, a skilled workforce, safety measures, deliverables, contractual obligations, and project delays. Thus, the demand for smart water metering decreased. Nevertheless, the rising adoption of digital infrastructure solutions across major economies will drive demand for smart water metering post-pandemic.

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Regional Insights

North America is forecast to be the largest market during the forecast period due to government initiatives for a reduction in non-revenue water, accurate meter reading, and the development of smart city infrastructure in the US and Canada. Furthermore, urbanization and industrialization are forecast to drive market growth.

According to Statista, as of 2021 data, the United States held over ~36% of the global market share for information and communication technology (ICT). With a market share of 16%, the EU ranked second, followed by 12%, China ranked third. In addition, according to forecasts, the ICT market will reach more than US$ 6 trillion in 2021 and almost US$ 7 trillion by 2023. In today’s society, continuous growth is another reminder of how ubiquitous and crucial technology has become. Over the next few years, traditional tech spending will be driven mainly by big data and analytics, mobile, social, and cloud computing.

This report analyzes the global primary production, consumption, and fastest-growing countries in the Information and Communications Technology(ICT) market. Also included in the report are prominent and prominent players in the global Information and Communications Technology Market (ICT).

Leading Competitors

The leading prominent companies profiled in the global smart water metering market are:

Aclara Technologies LLC

Badger Meter. Inc.

Honeywell International

Itron, Inc.

Kamstrup A/S

Landis+Gyr

Mueller Water Product, Inc.

Neptune Technology Group Inc.

SIEMENS AG

SENSUS (XYLEM)

Other Prominent Players

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Scope of the Report

The global smart water metering market segmentation focuses on Meter Type, Application, Technology, Component, and Region.

Segmentation based on Meter Type

Electromagnetic Meter

Ultrasonic Meter

Mechanical Meter

Segmentation based on Application

Residential

Commercial

Industries

Segmentation based on Technology

Automatic Meter Reading

Advanced Metering Infrastructure

Segmentation based on Component

Meter & Accessories

IT Solutions

Communications

Wired

Wireless

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Segmentation based on Region

North America

The U.S.

Canada

Mexico

Europe

Western Europe

The UK

Germany

France

Italy

Spain

Rest of Western Europe

Eastern Europe

Poland

Russia

Rest of Eastern Europe

Asia Pacific

China

India

Japan

Australia & New Zealand

ASEAN

Rest of Asia Pacific

Middle East & Africa (MEA)

UAE

Saudi Arabia

South Africa

Rest of MEA

South America

Brazil

Argentina

Rest of South America

What is the goal of the report?
• The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
• During the forecast period, the report analyzes the growth rate, market size, and market valuation.
• The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
• The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance

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Updated : 2022-01-25 15:31 GMT+08:00

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