Big Boom in Smart Water Metering Market Size Future Scope Demands and Projected Industry Growths to 2028

The smart water metering market is expected to reach US$ 5,954.65 million by 2028; registering at a CAGR of 10.0% from 2022 to 2028, according to a new research study conducted by The Insight Partners.

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The majority of the world is facing acute water scarcity owing to various factors such as illegal water tapping, pipeline tampering, and leakage. Moreover, rapid urbanization and aging infrastructure are key reasons for water scarcity. Water utilities are constantly adopting innovative technologies to supply an adequate quantity of water to every area, along with reducing operational costs, managing assets, and supporting water conservation. This is catalyzing the growth of smart water metering market. The global population is growing exponentially, resulting in a rise in demand for water. To supply the required or demanded quantity of water, the water providers or utilities are upgrading their traditional water metering systems with new advanced technologies, including automatic meter readers or advanced metering infrastructure. The smart water meters also facilitate the residential areas by alarming in case of pipeline leakage, tampering efforts, and reverse flow, thereby reducing water loss and associated loss. The industrial sector is also upgrading its traditional water meters with smart water meters as these smart technologies help the industries understand the quantity of water allotted to them, the quantity of water supplied at the end, and the quantity of water billed at the end of the time. To reduce nonrevenue water bill generation, industries are increasingly procuring these smart water meters, which is further bolstering the smart water metering market growth.

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Several governmental initiatives are helping the smart water metering market to flourish in the current scenario. For instance, several parts of North America have successfully implemented smart water meters with the help of government funding. Also, many city authorities across the region have been launching several projects for new installation or modernization of the existing smart water meter infrastructure. For instance, in November 2021, the city of Wilmer in Texas announced the launch of a smart water meter modernization project worth US$ 880,780 to modernize the city's aging water service infrastructure. The main aim of this project is to improve operational efficiencies and allow residential customers to access their water usage data in real time. This also helps in more precise water meter readings and accurate billings for the water transmission service providers and end users.

The List of Companies - Smart Water Metering Market
• 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
• WAVIoT Integrated Systems LLC

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About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductors and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, and Chemicals and Materials.

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