The global smart water meter market is expected to reach 81.52 million units, in terms of volume, by 2026. The market is projected to expand at a Compound Annual Growth Rate (CAGR) of 13.42% from 2018 to 2026. According to the report, the global market is expected to continue to be influenced by a range of factors in the near future, such as rising penetration of smart water meters, growing popularity of IoT networks, rising development of the smart city infrastructure, and increasing water scarcity issues across the globe. Asia Pacific is estimated to continue to lead the global market, with the market in the region expanding at a CAGR of above 15% during the forecast period. Prominent economies in the Asia Pacific such as China, Japan, India, Australia, and South Korea are adopting smart water meters increasingly.

The report includes profiles of well-established players such as Kamstrup A/S, Diehl Stiftung & Co. KG, Badger Meter, Inc., Itron Inc., and Sensus USA Inc. These players are focusing on strategic partnerships.

Based on technology, the global smart water meter market has been divided into an ultrasonic meter, electromagnetic meter, and mechanical meter. The mechanical meter segment has been sub-classified into the rotary piston, single-jet, multi-jet, combination, nutating disk, and Woltman. Ultrasonic meter and electromagnetic meter segments are expected to expand at CAGRs of 15.02% and 14.54%, respectively, during the forecast period.

The water meter technology is transforming rapidly and utility companies, as well as individuals, are giving preference to ultrasonic and electromagnetic smart water meters. This is because these meters do not have any moving part, which makes the device maintenance easy. Furthermore, smart water meters allow significant precision in meter reading, due to their superior mechanism. Additionally, these meters are low at production cost and they use the existing cellular networks efficiently for communication with users.

 

In terms of meter type, the smart water meter market has been segmented into the one-way meter and two-way meter. One-way smart water meters allow one-sided communication that allows the user to get the meter reading remotely with the help of drive-by and walk-by methods. Two-way smart water meters offer two-way communication and several other benefits over one-way smart water meters. Along with the capability of remotely collecting the meter reading, they also allow users to get notifications pertaining to the smart water meter battery as well as any kind of water meter malfunction.

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