The smart water metering market is projected to grow significantly, reaching a value of US$ 7.36 billion by 2031, up from US$ 3.80 billion in 2023, with an anticipated compound annual growth rate (CAGR) of 9.9% during the period from 2023 to 2031.

The European smart water metering sector is divided into several key regions, including France, Germany, Italy, Russia, the UK, and the Rest of Europe. Major urban centers in the UK, Germany, and France are identified as pivotal areas for the expansion of smart water meter technology, driving its adoption across the continent. In Europe, nonrevenue water constitutes an average of 26% of the total water supplied by utilities. This highlights the urgent need for advanced metering systems to enhance revenue management and promote efficient water resource utilization.

Advanced metering technologies offer a range of user-friendly features, including integrated billing systems, secure online payment options, and consumer applications that encourage the uptake of smart water meters. In November 2021, Landis+Gyr introduced new ultrasonic smart water meters, the W270 and W370, which leverage IoT technologies. These products adhere to Landis+Gyr's Green Design principles, ensuring they are fully recyclable after a lifespan exceeding 15 years. The company also showcased the latest innovations in metering solutions for electricity, gas, heat, and water.

In August 2020, the German government announced plans to assess the number of smart metering systems deployed in households and businesses by 2025. This initiative is part of a broader digital strategy encompassing various sectors, including a "networked and digitally sovereign society" and an "innovative economy, working world, science, and research." Additionally, Spain has embraced the smart city concept, leading to the implementation of intelligent water meter infrastructure aimed at enhancing urban water supply management. In July 2021, Global Omnium, a company specializing in comprehensive water cycle management, partnered with Telef?nica IoT & Big Data Tech to install over 150,000 SIM cards equipped with NB-IoT technology, thereby improving data communication for 450,000 smart water meters in both domestic and industrial settings across Spain.

The analysis of the smart water metering market is categorized by type, component, end user, and meter type.

In terms of type, the market is divided into Automatic Meter Reading (AMR) and Advanced Metering Infrastructure (AMI). AMR systems automatically collect large volumes of data regularly, minimizing human error and providing users with timely, accurate data reporting and analysis, which enhances customer satisfaction. These systems are applicable across various industries, facilitating automatic water consumption recording, consumption pattern diagnosis, and data transfer to designated databases for operator use. The advantages of AMR include:

• Accurate billing facilitation


• Easy tracking of water usage


• Reduction of human involvement and errors


• Environmental sensitivity

Governments worldwide are increasingly adopting AMR systems. For instance, in February 2023, the Indian government announced the phased implementation of an automatic meter reading system within the Kerala Water Authority (KWA), further propelling the growth of the smart water metering market in the AMR segment.

Regarding components, the market is segmented into controlling units, displays, storage, integrated software, and other elements. The controlling unit of a smart water meter comprises various sensors, microcontrollers, real-time clock units, and valve controllers. Flow rate sensors measure the volume of water flowing through pipelines over time. Advances in sensor technology are enhancing the capabilities of smart water meters, allowing a single sensor to gather multiple data points compared to traditional systems. Microcontrollers are crucial for smart water meters, enabling lower power consumption and higher accuracy in data delivery to users or service providers. The data collected by sensors is processed by the microcontroller and displayed to the user. Texas Instruments has developed the MSP430 microcontroller, which integrates an ultrasonic sensing analog front end, enhancing the accuracy of smart water meters. The overall cost of sensors, microcontrollers, and valve controllers tends to be higher than that of display units and storage components. Technological advancements in controlling units are expected to drive up product prices while improving communication capabilities, particularly in two-way communication (AMI), which is anticipated to gain traction in the future. Innovations in controlling units are likely to positively influence the adoption of smart water meters, thereby boosting market revenue in the coming years. For example, in March 2024, Klika Tech launched a smart water meter solution developed in collaboration with Subeca, utilizing AWS and STMicroelectronics' wireless microcontroller technologies, further stimulating growth in the controlling unit segment.

Key players in the smart water metering market include Arad Ltd, Badger Meter Inc., Bmeters SRL, Diehl Stiftung & Co KG, Itron Inc., Kamstrup AS, Mueller Water Products Inc., Neptune Technology Group Inc., Sensus USA Inc., and WAVIoT Integrated Systems LLC.

The forecast for the smart water metering market is based on extensive secondary and primary research, including key company publications, industry association data, and various databases. Comprehensive secondary research has been conducted using both internal and external sources to gather qualitative and quantitative insights regarding market growth. This process aids in forming an overview and forecast of the market across all segments. Additionally, numerous primary interviews with industry stakeholders have been conducted to validate data and gain analytical perspectives, involving industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the smart water metering sector.