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Smart Water Metering Market worth $20.14 billion by 2030, growing at a CAGR of 12.86% - Exclusive Report by 360iResearch
Smart Water Metering Market | 360iResearch
The Global Smart Water Metering Market to grow from USD 8.63 billion in 2023 to USD 20.14 billion by 2030, at a CAGR of 12.86%.
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Smart water metering refers to the integrated system of advanced metering infrastructure that encompasses water meters equipped with electronic components. These components enable the automatic collection, processing, and wireless transmission of water usage data to a central database. This technology allows utility companies and consumers to track water consumption in real-time or near real-time, facilitating efficient water management, leak detection, and accurate billing. Smart water metering aims to promote water conservation, enhance operational efficiencies, and improve customer service by providing detailed and timely water usage analytics, contributing to effective water management and billing. The smart water metering market is growing rapidly with factors such as the escalating issues of water scarcity, governmental regulations promoting smart meters, breakthroughs in wireless technology, and demand from utilities for improved billing systems and customer engagement. Investments in smart city projects are also bolstering the adoption of state-of-the-art water metering technologies, thus expanding the market growth. However, challenges, including high initial investments, data privacy concerns, and user resistance against new utility technologies, hinder the scope of smart water metering solutions. Opportunities in this space arise from harnessing AI and IoT for smarter predictive analysis techniques and eco-friendly practices that bolster demand for systems capable of detailed usage reporting while minimizing waste. Innovations in creating cost-effective products, enhancements in data security, battery longevity, connectivity, and compatibility with existing smart grids present lucrative future opportunities for the smart water metering market expansion.
In the Americas, the smart water metering market has been demonstrating robust growth, driven largely by increasing urbanization, regulatory compliance, and the need for efficient water management solutions in the realm of growing concerns over water scarcity and aging infrastructure. The United States and Canada are contributing majorly to the market growth in this region, with initiatives to modernize water infrastructure and integrate advanced metering infrastructure (AMI) systems gaining traction. Latin America also shows promise with ongoing water management reforms and smart city projects embracing intelligent water solutions. The smart water metering market in Europe, the Middle East, and Africa (EMEA) shows diverse growth prospects across its extensive landscape. European countries, have been at the forefront in adopting smart water technologies, largely owing to stringent EU regulations, environmental sustainability targets, and the need to manage water effectively. The Middle East is witnessing a rise in smart water meter installations, fueled by initiatives to enhance water conservation in arid regions, while Africa's growth is relatively slower but promising due to various developmental programs focusing on improving water utility services and infrastructure. The Asia-Pacific (APAC) region is experiencing rapid growth in the smart water metering market, particularly attributed to the rising demand in populous countries including China and India, where water management is a critical national priority. Expanding urbanization, government-led initiatives for smart cities, and significant investments in water infrastructure development are key factors propelling the market in this region.
Market Segmentation & Coverage:
This research report categorizes the Smart Water Metering Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Component, market is studied across IT Solutions & Communication Networks and Meter & Accessories. The Meter & Accessories is projected to witness significant market share during forecast period.
Based on Meter Type, market is studied across Electromagnetic Meter, Mechanical Meter, and Ultrasonic Meter. The Electromagnetic Meter commanded largest market share of 42.22% in 2023, followed by Mechanical Meter.
Based on Technology, market is studied across AMI and AMR. The AMI commanded largest market share of 66.25% in 2023, followed by AMR.
Based on Ownership, market is studied across Private and Public. The Public is projected to witness significant market share during forecast period.
Based on Application, market is studied across Commercial, Industrial, and Residential. The Commercial commanded largest market share of 73.00% in 2023, followed by Residential.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 35.57% in 2023, followed by Asia-Pacific.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Smart Water Metering Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Smart Water Metering Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Smart Water Metering Market, highlighting leading vendors and their innovative profiles. These include Apator SA, Arad Group, Axioma Metering, B Meters S.r.l., B METERS srl, Badger Meter, Inc., BETAR Company, Datamatics Global Services Ltd, Die Diehl Stiftung & Co. KG, Electronet Equipments Private Limited, Honeywell International Inc., Hubbell Incorporated, Itron Inc., Kamstrup, Landis+Gyr AG, Mueller Water Products, Inc., Neptune Technology Group, Ningbo Water Meter Co., Ltd., Schneider Electric SE, Siemens AG, Sontex SA, STMicroelectronics N.V., Telbit (Pty) Ltd, Xylem Inc., and Zenner International GmbH & Co. KG.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Smart Water Metering Market, by Component
7. Smart Water Metering Market, by Meter Type
8. Smart Water Metering Market, by Technology
9. Smart Water Metering Market, by Ownership
10. Smart Water Metering Market, by Application
11. Americas Smart Water Metering Market
12. Asia-Pacific Smart Water Metering Market
13. Europe, Middle East & Africa Smart Water Metering Market
14. Competitive Landscape
15. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Smart Water Metering Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Smart Water Metering Market?
3. What is the competitive strategic window for opportunities in the Smart Water Metering Market?
4. What are the technology trends and regulatory frameworks in the Smart Water Metering Market?
5. What is the market share of the leading vendors in the Smart Water Metering Market?
6. What modes and strategic moves are considered suitable for entering the Smart Water Metering Market?
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