- Summary
- Table Of Content
- Methodology
Smart Water Meter Market Size:
Smart Water Meter Market Size is estimated to reach over USD 10.19 Billion by 2032 from a value of USD 4.43 Billion in 2024 and is projected to grow by USD 4.84 Billion in 2025, growing at a CAGR of 12.1% from 2025 to 2032.
Smart Water Meter Market Scope & Overview:
A smart water meter is an advanced device that measures and transmits water consumption data wirelessly to both consumers and water utility providers. Smart water meters utilize electronic sensors and communication technologies to provide real-time data, enabling accurate billing, and leak detection. These meters incorporate features such as remote monitoring, data analytics, and the ability to detect anomalies in water usage, contributing to water conservation and efficient water distribution.
Smart Water Meter Market Dynamics - (DRO) :
Key Drivers:
The escalating global challenge of water scarcity is driving the smart water meter market growth
Smart water meters provide granular, real-time consumption data, enabling proactive leak detection and optimized water distribution. The data-driven approach empowers utilities to implement targeted conservation strategies and facilitates informed decision-making regarding resource allocation. Furthermore, regulatory mandates and public awareness campaigns focused on water conservation are accelerating the integration of smart metering technologies. Additionally, for regions struggling with water shortages, the strategic use of smart water meters is essential for sustainable water management.
- For instance, according to UNICEF, the global water crisis is rapidly intensifying, impacting billions. Currently, nearly two-thirds of the world's population faces severe water scarcity for at least one month annually, with over two billion living in countries with inadequate water supplies. Projections indicate that half the world could experience water scarcity by 2025, potentially displacing 700 million people by 2030. Alarmingly, by 2040, a quarter of the world's children are expected to reside in areas of extreme water stress, highlighting the urgent need for sustainable water management solutions.
Consequently, the escalating global challenge of water scarcity is driving the smart water meter market expansion.
Key Restraints:
The reliance of smart water meters on robust internet connectivity is restraining the market growth in underdeveloped countries
Many underdeveloped regions lack the necessary broadband infrastructure, including reliable cellular networks which hinder the ability of smart meters to transmit data effectively. Additionally, consistent power supply is essential for both internet connectivity and the operation of smart meters. In areas with unreliable power grids, data transmission, and meter functionality are disrupted, hindering the industry expansion. Moreover, even with internet connectivity, smart water meters raise data security and privacy concerns, further restraining the global smart water meter market growth.
Thus, as per the market analysis, dependence of smart meters on reliable internet connectivity is impeding the global smart water meter market size.
Future Opportunities :
Replacement of aging water infrastructure is projected to create potential smart water meter market opportunities
Aging water distribution systems, with inaccurate and failing mechanical meters, are compelling utilities to upgrade and modernize their infrastructure. Smart water meters offer a technologically advanced alternative, enabling utilities to enhance accuracy and reliability. Aging pipes and infrastructure are a primary source of water leaks, leading to significant water loss. Smart water meters provide real-time data and detect anomalies which help utilities identify and address leaks promptly. Governments worldwide are also recognizing the importance of modernizing water infrastructure and are providing funding and incentives to support the adoption of smart water metering technologies. In addition, replacing aging infrastructure with smart water meters allows utilities to automate meter reading, streamline billing processes, and improve overall operational efficiency.
- For instance, in March 2025, Marana Water announced to upgrade its infrastructure by replacing old water meters with smart AMI technology. Over the next two years, KE&G, the program partner, will install these new meters across the service area. This upgrade will provide customers with online access to detailed water usage data, enabling them to identify high consumption periods, receive leak alerts, and implement water conservation measures.
Hence, based on the analysis, the replacement of aging water infrastructure presents significant smart water meter market opportunities.
Smart Water Meter Market Segmental Analysis :
By Component:
Based on the component, the market is classified into hardware, software, and services.
Trends in the Component:
- Growing trend towards the incorporation of advanced data analytics and AI algorithms to analyze water consumption patterns and detect water leaks.
- Development of more precise and reliable sensor technologies, such as ultrasonic and electromagnetic sensors offer greater accuracy and durability.
Hardware accounted for the largest revenue share of 48.31% in 2024.
- The integration of diverse and robust communication technologies including LTE-M and NB-IoT for cellular connectivity and LoRaWAN for long-range, low-power wide area networks is driving the market size.
- Incorporation of edge computing allows for data analysis to occur directly within the meter, reducing the need for constant communication with centralized servers, further boosting the market.
- Also, a significant shift towards the adoption of ultrasonic and electromagnetic sensors, offering enhanced accuracy and reliability, is driving the smart water meter market expansion.
- For instance, in January 2024, Sensata Technologies released the 129CP Series Digital Water Pressure Sensor, a new tool designed to improve smart pressure monitoring for water utilities. This technology aims to reduce water waste by providing more accurate and detailed pressure data.
- Thus, as per the analysis, the aforementioned factors are driving the hardware segment contribution in the smart water meter market share.
Services are predicted to witness the fastest increase during the forecast period.
- The demand for professional installation and maintenance services is growing as utilities deploy large-scale smart metering systems.
- Utilities are increasingly seeking services to help them manage and analyze the vast amounts of data generated by smart meters.
- Services that facilitate the integration of smart meters with existing utility systems and smart city platforms are in high demand.
- Therefore, as per the market analysis, the aforementioned factors are predicted to drive the smart water meter market share.
By Technology:
Based on the technology, the market is bifurcated into automatic meter reading (AMR) and advanced meter infrastructure (AMI).
Trends in the Technology:
- AMI offers two-way communication, enabling real-time data collection, remote control, and advanced analytics.
- Automatic Meter Reading reduces the need for manual meter readings and is less expensive than AMI.
Automatic Meter Reading (AMR) accounted for the largest revenue share in 2024.
- AMR systems are incorporating IoT connectivity, enabling seamless data transmission and remote monitoring, thus facilitating real-time data collection.
- Radio frequency (RF) technology is playing a significant role in AMR, with advancements in wireless communication enabling longer-range and more reliable data transmission.
- Advancements in sensor technology and data processing are leading to more precise meter readings, reducing billing errors, and improving data integrity.
- For instance, in December 2024, Itron, Inc. partnered with TasWater, Tasmania's sole water and sewage utility, to implement its Temetra cloud-based platform. The Automatic Reading system streamlines and centralizes the collection and management of meter data across TasWater's network.
- Therefore, the aforementioned benefits are bolstering the market.
Advanced Meter Infrastructure (AMI) is predicted to register the fastest progress during the forecast period.
- Rising energy costs and growing environmental concerns are driving the demand for AMI solutions to promote energy efficiency and conservation.
- AMI systems provide consumers and utilities with detailed insights into energy consumption patterns, enabling them to identify areas for improvement and reduce waste.
- AMI systems integrate with smart home platforms, providing consumers with greater control over their energy usage and enabling automated energy optimization.
- For instance, in October 2024, Trilliant and Econis Labs Manufacturing formed a strategic partnership to enhance Trilliant's Advanced Metering Infrastructure (AMI) offerings for the water industries. This collaboration will leverage Econis Labs' manufacturing expertise to expand Trilliant's range of smart metering solutions.
- In conclusion, the above-mentioned factors are collectively responsible in driving the Advanced Meter Infrastructure (AMI) segment.
By Meter Type:
Based on the meter type, the market is categorized into electromagnetic meter, mechanical meter, and ultrasonic meter.
Trends in the Meter Type:
- Mechanical meters are less favored due to their limitations in accuracy, especially at low flow rates, and their susceptibility to wear and tear.
- Electromagnetic meters offer high accuracy and reliability, particularly for conductive liquids.
Electromagnetic Meter accounted for the largest revenue in the year 2024.
- Industries including pharmaceuticals, food and beverage, and chemical processing require precise flow measurement, which drives the demand for electromagnetic meters due to their high accuracy.
- Electromagnetic meters are being integrated with digital systems for real-time data monitoring, enabling better process control and optimization.
- Additionally, the growing trend towards developing smaller and compact electromagnetic meters allows for installation in space-constrained environments.
- Manufacturers are focusing on using advanced materials to improve the durability and corrosion resistance of electromagnetic meters, extending their lifespan and reducing maintenance costs.
- Therefore, as per the market analysis, the aforementioned factors are contributing significantly in accelerating the smart water meter market trends.
Ultrasonic Meter is predicted to witness the fastest increase during the forecast period.
- Clamp-on ultrasonic meters are widely used due to their non-invasive nature, allowing for easy installation without interrupting processes, reducing downtime and installation costs.
- Further, ultrasonic meters are being integrated with IoT platforms, enabling real-time data monitoring and remote diagnostics.
- Also, ultrasonic meters provide detailed diagnostic information, such as flow profiles, fluid characteristics, and potential issues like pipe blockages, therefore, enhancing operational efficiency.
- For instance, in September 2024, Avnet secured a contract to provide Huizhong's SCL61H-100 smart ultrasonic water meters to South East Water's Digital Meters program.
- Subsequently, the growing need for ultrasonic water meter due to above-mentioned benefits is boosting the smart water meter market demand.
By Application:
Based on the application, the market is categorized into residential, commercial, and industrial.
Trends in the Application:
- Commercial businesses are subject to water conservation regulations and smart meters help them comply with these regulations.
- Industrial companies are implementing sustainability initiatives to reduce their environmental impact. Smart meters play a key role in these initiatives by providing data to track and reduce water consumption.
Residential accounted for the largest revenue share in the year 2024.
- Homeowners desire control over their water consumption, and smart meters, paired with accessible mobile apps and online platforms offer detailed usage insights.
- These platforms offer real-time data, allowing residents to track their consumption patterns and identify anomalies, thereby driving the smart water meter market demand.
- Also, the growing trend of smart home technology is driving the integration of smart meters with other smart home devices and platforms.
- Additionally, smart meters empower residents to reduce their water footprint by providing the data and tools needed to optimize their consumption.
- Therefore, as per the smart water meter market analysis, the aforementioned factors are contributing significantly in accelerating the smart water meter market trends in residential sector.
Commercial is predicted to witness the fastest growth during the forecast period.
- Commercial entities, such as hotels, office buildings, and retail spaces, are leveraging smart meters to optimize their water usage.
- Smart meters are being integrated with BMS to provide a comprehensive view of building operations, allowing for automated water management and optimization.
- Subsequently, the growing need for these meters in commercial sector is boosting the smart water meter market size.
Regional Analysis:
The regions covered are North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
Asia Pacific region was valued at USD 1.14 Billion in 2024. Moreover, it is projected to grow by USD 1.24 Billion in 2025 and reach over USD 2.70 Billion by 2032. Out of these, China accounted for the largest revenue share of 32.8% in 2024. Rapid urban development in the region is placing pressure on existing water infrastructure. Smart water meters are therefore essential for effectively managing water resources in these densely populated urban areas. Additionally, governments across the region are also implementing policies and regulations to promote smart water management. Investments in smart city initiatives and infrastructure modernization are further contributing significantly in fueling market growth.
- For instance, in August 2024, Indian government approved the development of 12 new industrial smart cities, under the National Industrial Corridor Development Programme, with a total investment of ₹28,602 crore or USD 286,020 Million. These greenfield projects, designed with "plug-n-play" and "walk-to-work" concepts, aim to create world-class, sustainable infrastructure along the Golden Quadrilateral, fostering balanced regional development and attracting significant investment.
North America was valued at USD 1.60 Billion in 2024. Moreover, it is projected to grow by USD 1.75 Billion in 2025 and reach over USD 3.67 Billion by 2032. North American water utilities are dealing with aging infrastructure, leading to significant water losses due to leaks and smart water metering is a crucial tool for modernizing these systems. Moreover, the presence of key players in the region are also contributing remarkably in bolstering the market growth.
- For instance, in June 2023, Sensus introduced the Cordonel ultrasonic water meter designed for commercial and industrial (C&I) customers. The innovative meter utilizes patented technology and a unique three-channel flow tube to precisely measure water flow across a wide range, ensuring accuracy and minimizing water loss.
As per the smart water meter market analysis, European market is driven by stringent EU water directives and a strong focus on sustainability. Also, Latin America's smart water meter market is also witnessing growth due to increasing urbanization and water scarcity challenges. Further, ME&A region faces severe water scarcity, making smart water metering crucial. Countries in the Gulf Cooperation Council (GCC) are rapidly adopting advanced technologies to optimize water usage and reduce losses. Thus, the aforementioned factors are contributing notably in spurring the growth of the global smart water meter market.
Top Key Players and Market Share Insights:
The market is highly competitive with major players providing products and services to the national and international markets. Key players are adopting several strategies in research and development (R&D), product innovation, and end-user launches to hold a strong position in the market. Key players in the smart water meter industry include-
- Diehl Stiftung & Co. KG (Germany)
- BERMAD CS Ltd. (Israel)
- Badger Meter, Inc. (USA)
- Xylem Inc. (USA)
- Electronet Equipments Private Limited (India)
- Arad Group (Israel)
- Aclara Technologies LLC (Hubbell Incorporated) (USA)
- Neptune Technology Group Inc. (USA)
- Landis+Gyr (Switzerland)
- Kamstrup A/S (Denmark)
- Itron Inc. (USA)
Recent Industry Developments :
- In January 2024, Badger Meter, Inc. acquired select remote water monitoring technology from Trimble, including the Telog brand of RTUs and Trimble Unity Remote Monitoring software. This acquisition strengthens Badger Meter's ability to provide real-time data collection and monitoring for water, wastewater, stormwater, and environmental applications, enhancing its offerings for customers seeking improved efficiency and sustainability.
Smart Water Meter Market Report Insights :
| Report Attributes | Report Details |
| Study Timeline | 2019-2032 |
| Market Size in 2032 | USD 10.19 Billion |
| CAGR (2025-2032) | 12.1% |
| By Component |
|
| By Technology |
|
| By Meter Type |
|
| By Application |
|
| By Region |
|
| Key Players |
|
| North America | U.S. Canada Mexico |
| Europe | U.K. Germany France Spain Italy Russia Benelux Rest of Europe |
| APAC | China South Korea Japan India Australia ASEAN Rest of Asia-Pacific |
| Middle East and Africa | GCC Turkey South Africa Rest of MEA |
| LATAM | Brazil Argentina Chile Rest of LATAM |
| Report Coverage |
|
Key Questions Answered in the Report
How big is the smart water meter market? +
The smart water meter market size is estimated to reach over USD 10.19 Billion by 2032 from a value of USD 4.43 Billion in 2024 and is projected to grow by USD 4.84 Billion in 2025, growing at a CAGR of 12.1% from 2025 to 2032.
What specific segmentation details are covered in the smart water meter report? +
The smart water meter report includes specific segmentation details for component, technology, meter type, application and region.
Which is the fastest segment anticipated to impact the market growth? +
In the smart water meter market, services is the fastest-growing segment during the forecast period.
Who are the major players in the smart water meter market? +
The key participants in the Smart Water Meter market are Diehl Stiftung & Co. KG (Germany), BERMAD CS Ltd. (Israel), Badger Meter, Inc. (USA), Sensus USA Inc. (Xylem Inc.) (USA), Electronet Equipments Private Limited (India), Arad Group (Israel), Aclara Technologies LLC. (Hubbell Incorporated) (USA), Neptune Technology Group Inc. (USA), Landis+Gyr (Switzerland), Kamstrup A/S (Denmark), Itron Inc. (USA), and Others.
