Research Nester assesses the growth and size of the global smart water meter market, driven by the rising scarcity of water across the globe and increasing investments in research and development activities.

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Research Nester’s recent market research analysis on “Global Smart Water Meter Market: Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2037" provides an in-depth competitor analysis and a comprehensive overview of the global smart water meter market, segmented by type, technology, application, and region.

Rising Awareness of the Importance of Smart Water Metering Systems to Boost Global Market Growth

Many governments and water utilities are focused on launching public awareness campaigns to educate citizens on the value of water conservation. For instance, cities in water-scare regions are promoting the role of smart water meters for managing and conserving water resources. Moreover, the government provides policies and subsidies for smart water meters focused on incentivizing water conservation, modernization of infrastructure, and reducing water wastage. For instance, several states in the U.S. offer grants and subsidies for smart water meter installations to combat water scarcity.

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Key Drivers and Challenges Influencing the Smart Water Meter Market

Growth Drivers:

• Increasing water scarcity across the globe
• Rapid urbanization and rising smart city initiatives
• Heavy investments to develop advanced smart water meters

Challenges:

• High initial investments required for deploying smart water metering systems
• Rising issues with data privacy and security concerns

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By type, the ultrasonic meter segment is expected to register rapid revenue growth during the forecast period owing to the rising preference for ultrasonic smart water meters for its unique features such as low maintenance, high accuracy, longer lifespan, real-time data collection, remote monitoring and high adoption of these devices across residential, commercial and industrial sectors. Different types of ultrasonic meters with different functionality are currently available and several companies launching advanced smart water meters to expand their presence. For instance, in July 2024, Genus Power, India’s smart meter company announced the shipment completion of its smart ultrasonic meter, DN20 to Australia. These devices are equipped with LoRa communication technology, enabling remote monitoring and management.

Based on region, Europe smart water meter market is expected to register significant growth during the forecast period owing to rising water scarcity concerns and government schemes to support water conservation technologies. The European Union has set strict policies for water management and conservation, supporting the adoption of smart water meters. Moreover, rising funding for sustainability projects and growing demand for advanced ultrasonic and electromagnetic meters across commercial, industrial, and residential settings are expected to drive market growth in Europe. UK, Germany, France, Italy, and Russia are some of the largest revenue-generating countries in Europe. In Germany, favorable regulatory support and rising awareness of the importance of smart water meters are some key factors that may boost market growth in the country going ahead.

Some of the key players included in the report include Lorenz GmbH & Co.KG, ZENNER International GmbH & Co. KG, HEXCELL, Diehl Stiftung & Co. KG, SUEZ GROUP, Badger Meter, Inc., Itron Inc., Aclara Technologies LLC (A Hubbell Company), Kamstrup A/S, Honeywell International Inc. and Mueller Systems LLC. These key players are focused on adopting several strategies such as mergers and acquisitions, partnerships, collaborations, and product launches to enhance their product base and maintain their global position.

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