DUBLIN, Dec. 1, 2023 /PRNewswire/ — The “Smart Water Meters – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Smart Water Meters Market to Reach $5.3 Billion by 2030
The global market for Smart Water Meters estimated at US$3.2 Billion in the year 2022, is projected to reach a revised size of US$5.3 Billion by 2030, growing at a CAGR of 6.4% over the analysis period 2022-2030. Auto Meter Reading (AMR), one of the segments analyzed in the report, is projected to record 4.4% CAGR and reach US$2.5 Billion by the end of the analysis period. Growth in the Advanced Metering Infrastructure (AMI) segment is estimated at 8.5% CAGR for the next 8-year period.
Amidst the challenges posed by the COVID-19 pandemic, water utilities are facing unique obstacles, highlighting the crucial role of technology solutions in addressing these issues. The pandemic has not only weakened the economic environment but also triggered a negative impact on GDP growth worldwide, as shown in real GDP projections for 2019, 2020, and 2021.
This report introduces the concept of Smart Water Meters, providing an evolutionary scan of their development. It delves into the components and classification of Smart Water Meters, emphasizing their role in laying the foundation for efficient and reliable utility networks.
The report offers a global perspective on the market prospects and outlook for Smart Water Meters. It breaks down global Smart Water Meter shipments by basic and smart types for the years 2019, 2022, and 2025, with a particular focus on the anticipated high growth of Advanced Metering Infrastructure (AMI) technology. There is a noticeable shift towards managed solutions, with utilities expected to post the fastest growth rate. Developed regions are leading in the adoption of Smart Water Meters, driven by their commitment to improving water management efficiency.
The competitive landscape is explored, featuring recent market activities and the market share of key players in the Smart Water Meter industry in 2022. The competitive presence of these players is categorized as strong, active, niche, or trivial, providing insights into the dynamics of the Smart Water Meter market.
The U.S. Market is Estimated at $973.8 Million, While China is Forecast to Grow at 6% CAGR
The Smart Water Meters market in the U.S. is estimated at US$973.8 Million in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$928.2 Million by the year 2030 trailing a CAGR of 6% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.9% and 5.1% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 5.2% CAGR.
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies – Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and trademarked research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
ARKET TRENDS & DRIVERS
- Technology to the Rescue of Water Utilities
- Myriad Benefits of Smart Water Meters Drive Widespread Global Adoption
- Better Water Conservation and Enhanced Savings
- Reduction in Non-Revenue Water (NRW) Losses
- Enhanced Operational Efficiency
- Improved Asset Management
- Provision of Actionable Intelligence
- Enabling Modernization of Aging Infrastructure
- Improved Customer Relationships
- With Water Utilities Focused on Increasing Investments in Digital Solutions, Smart Water Meter Adoption Poised to Grow
- Global Digital Utility Market Size (in US$ Billion) for 2018, 2020, 2022 & 2024
- Mounting Economic and Environmental Challenges Drive the Need for Smart Water Networks, Spurring Demand for Smart Water Meters
- Rising Importance of Smart Water Networks Boosts Demand for Smart Water Meters
- Smart Meters Enhance Water Management Efficiency
- Evolution of Smart Water Grid Emerges as a Fundamental Factor Driving Penetration of Smart Water Meters
- Key Components of a Smart Water Grid
- Rise of Smart Cities and Focus on Efficient Management of Water Resources Opens Up Opportunities for Smart Water Meters
- At the Core of Smart Cities Are Smart Metering Solutions for Provision of Smart Water Utility Services: Global Market for Smart City Technologies in US$ Million for the Years 2019 and 2025
- Smart Water Meters Becomes An Important Component of Smart Cities Worldwide
- IoT-based Smart Metering to Create Smarter and Connected Cities
- Integration of Intelligent Technologies and IoT Integration in Monitoring Water Usage: Opportunity for Smart Water Meters
- Increasing Investments in Smart Home Technology Solutions to Fuel Demand for Smart Water Meters
- Investments into Smart Connected Homes Augurs Well for Smart Water Meters Market: Global Smart Homes Market (In US$ Billion) for the Years 2019, 2021, 2023 & 2025
- Smart Water Meters to Make Major Contributions to Efficiency Levels in the Agricultural Sector
- Innovations in Smart Water Meters Propel Adoption
- Select Innovations in Smart Water Meter
- Demand Rises for Two-Way Communicating Meters in Water Industry
- Integrated Digital Water Meters Find Increased Acceptance
- Cloud Computing Transforms Smart Water Metering Market
- Blockchain Technology for Smart Water Meters
- AI Makes a Mark in Water Management and Smart Metering
- Big Data Analytics to Provide Actionable Insights from Smart Meters-Generated Data
- Increasing Integration of Cellular Technology in Smart Water Meters
- LPWANs to Become a Standard Approach in Smart Water Meters
- WATER 4.0: Digitization of Water Industry through Smart Water Meters
- Stringent Regulations of Water Bodies and Governments Strengthen Market Prospects
- Population Growth and Demographics Drive Need for Smart Utility Infrastructure, Supporting Demand for Smart Water Meters
- World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
- World Urban Population in Thousands: 1950-2050P
- Key Challenges Hampering Widespread Adoption of Smart Water Management Solutions
FOCUS ON SELECT PLAYERS (Total 82 Featured)
- Huawei Technologies Co., Ltd.
- Honeywell International, Inc.
- Badger Meter, Inc.
- Arqiva Ltd.
- Aclara Technologies LLC
- Apator SA (Apator Group)
- Arad Group
- Datamatic, Inc.
- Diehl Stiftung & Co. KG (Diehl Group)
- Iskraemeco d.d.
- Capstone Metering LLC (IntelliH20)
- Hangzhou Laison Technology Co., Ltd.
- ista Energy Solutions Ltd.
- Commonwealth Edison Company (ComEd)
- Enware Australia Pty., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/5xxszq
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets