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GLOBAL SMART WATER METER MARKET FORECAST 2020-2028

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GLOBAL SMART WATER METER MARKET FORECAST 2020-2028

In terms of revenue, the global smart water meter market was valued at $XX billion in 2019 and is expected to reach $8.79 billion by 2028, projecting a CAGR of 7.14% during the forecast period. The market has also been analyzed on the basis of a number of smart meters installed across the world, and in terms of volume, it is expected to grow with a CAGR of 8.41%. For the study conducted by Inkwood Research, the base year considered for the study is 2019, and the estimated period lies between 2020 & 2028. The need for sustainable management of existing water is continuously on the rise and is a crucial driving force. Smart water meters allow utilities to understand where the water goes, and the quantity of water used. This helps utilities to drive down NRW (Non-Revenue Water) by providing more resources in water-stressed areas and cater to greater populations by better managing the water usage.

GLOBAL SMART WATER METER MARKET FORECAST 2020-2028

Global Smart Water Meter Market by Technology (Automatic Meter Reading (Amr), Advanced Metering Infrastructure (Ami)) by Application (Commercial, Industrial, Residential) by Geography.

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In terms of revenue, the global smart water meter market was valued at $XX billion in 2019, and is expected to reach $8.79 billion by 2028, projecting a CAGR of 7.14% during the forecast period. The market has also been analyzed on the basis of a number of smart meters installed across the world, and in terms of volume, it is expected to grow with a CAGR of 8.41%. For the study conducted by Inkwood Research, the base year considered for the study is 2019, and the estimated period lies between 2020 & 2028.

Key factors that are responsible for the progression of the global market for smart meter water are:

  • The superiority of smart water meters over traditional water meters
  • Rising smart city projects
  • Need for sustainable management & making appropriate availability of existing water

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The need for sustainable management of existing water is continuously on the rise and is a crucial driving force. Smart water meters allow utilities to understand where the water goes, and the quantity of water used. This helps utilities to drive down NRW (Non-Revenue Water) by providing more resources in water-stressed areas and cater to greater populations by better managing the water usage. This technology allows water utilities to address water concerns from the bottom up as opposed to the traditional top-down. Further, the advantages offered by smart water meters over traditional meters are also touting the market growth. These meters enable the utilities to be timely & accurately bill consumers for the amount of water used. Ultrasonic water meter’s intelligent alerts enable effective leak detection, and, in turn, lower the amount of non-revenue water.

In 2019, around 90.25% of the revenue share was captured by Automatic Meter Reading (AMR) technology. On the other hand, the Advanced Metering Infrastructure (AMI) is anticipated to be the fastest-growing technology in the market. Of the two technologies, the AMR meters have a higher installation percentage due to its low costs. However, they do not provide extensive data and require a drive-by vehicle or walk-by vehicle to collect the data. The limitations of AMR meters have made utilities to be left wanting more from their investment. This has led utilities to install AMI meters because they have a higher data gathering capacity. AMI is much more advanced than AMR. AMI allows two-way communication, and is automated and allows real-time water data for the consumer and the utility. The data is recorded several times in a day, and provides more detailed information, like the peak consumption, real-time consumption, and time of use, all of which results in better customer management and improved operations.

However, the high installation costs & vulnerabilities of smart water meter systems are profoundly pulling back the market. The operating costs associated with smart water metering are also high. The smart meters, unlike conventional meters, use connectivity systems & digital components, which enables them to operate and transmit data. This increases the cost of smart metering equipment. The customers who want to reduce the water bills can hack, jam, or evade the restriction on the amount of water used. Also, the lack of privacy in the transmission of smart meter data from the user’s end to the utility is highly risky.

The report on the global market for smart water meter includes segmentation analysis on the basis of technology and application.

Market by Technology

  • Automatic Meter Reading (AMR)
  • Advanced Metering Infrastructure (AMI)

Market by Application

  • Commercial
  • Industrial
  • Residential

Geographically, the global market for smart water meter has been segmented on the basis of four major regions, which includes:

  • North America: the United States and Canada
  • Europe: the United Kingdom, Germany, France, Italy, Russia, Belgium, Poland, and the Rest of Europe
  • Asia Pacific: China, Japan, India, South Korea, Indonesia, Thailand, Vietnam, Australia, New Zealand, and the Rest of Asia Pacific
  • Rest of World: Latin America, the Middle East, and Africa

In terms of geography, North America dominated the market with a revenue share of 50.21% in 2019. The rapid development of smart water management infrastructures, growing smart city projects, and strict government regulations have been driving the North America market. The United States is leading in terms of smart water meter adoption. The Texas Water Development Board sanctioned financial assistance in December 2017, to the city of Abilene for a water meter replacement project. The aid is being provided by the Clean Water State Revolving Fund, which is totaling $18.37 million and is aimed at replacing around 43,500 water meters with automated readers and leak detection capabilities.

Though the adoption of smart water meters in the Asia Pacific is low at present, the market outlook in the region is positive, due to dynamic trends such as rising population, accelerating urbanization, an increase in manufacturing industries, and support from governments in the form of development of smart cities, among others. Australia is more mature in the Asia-Pacific, wherein advanced technology has been mixed with elevated levels of water scarcity. Currently, Automated Meter Reading (AMR) systems are leading the country’s main rollouts. Smart water meters are already meter in Australia, some in collaboration with electricity companies and mobile operators. For example, in 2019, Queensland’s Mackay Regional Council signed a multi-million dollar agreement to commercialize its ‘smart-water’ application, MiWater.

The market key players involved in the global smart water meter market are:

  • Badger Meter, Inc
  • Elster Group GmbH
  • Itron, Inc
  • Kamstrup As
  • Landis+Gyr Ag
  • Sensus USA Inc
  • Others

Key strategies adopted by some of these companies:

In October, 2019, Department of Water and Sewage (DAE) of Americana awarded Itron, Inc, with a contract. According to the contract, Itron will install its water management system in São Paulo, Brazil.  In the same month, Reno and Truckee Meadows Water Authority (TMWA) chose Sensus to upgrade their infrastructure and initiate a meter replacement program. In October, 2018, Italian company Watertech was acquired by Arad Group for EUR16 million.

Key trends of the global smart water meter market:

  • The residential category in the application segment dominated the market in 2019, owing to the ease of integration between smart water meter units installed in houses to the smart water network.
  • The increasing focus on the accountability of Non-Revenue Water (NRW) is one of the major trends in the market. These meters allow utilities to understand where the water goes, and in what quantity.
  • The United States is leading in terms of smart water meter adoption, with approximately 7.09 million units installed across the country.
  • The governments worldwide are providing financial support and grants to consumers to encourage the adoption of smart meters, and this is boosting its market growth. In 2016, Austin Water, a utility in Texas, US, was granted a loan of about $80 billion for the replacement of mechanical meters with smart meters.
  1. RESEARCH SCOPE & METHODOLOGY
    • STUDY OBJECTIVES
    • SCOPE OF STUDY
    • METHODOLOGY
    • ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    • MARKET SIZE & ESTIMATES
    • MARKET OVERVIEW
  3. MARKET DYNAMICS
    • PARENT MARKET ANALYSIS: SMART METERS MARKET
    • MARKET DEFINITION
    • KEY DRIVERS
      • NEED FOR SUSTAINABLE MANAGEMENT & MAKING APPROPRIATE AVAILABILITY OF EXISTING WATER
      • SUPERIORITY OF SMART WATER METERS OVER TRADITIONAL WATER METERS
      • RISING SMART CITY PROJECTS
    • KEY RESTRAINTS
      • HIGH INSTALLATION COSTS
      • LACK OF AVAILABILITY OF CAPITAL FUNDING
      • VULNERABILITIES OF SMART WATER METERS
  1. KEY ANALYTICS
    • KEY INVESTMENT INSIGHTS
    • PORTER’S FIVE FORCE ANALYSIS
      • BUYER POWER
      • SUPPLIER POWER
      • SUBSTITUTION
      • NEW ENTRANTS
      • INDUSTRY RIVALRY
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
    • VALUE CHAIN ANALYSIS
  2. MARKET BY TECHNOLOGY (IN TERMS OF VALUE: $ MILLION)
    • AUTOMATIC METER READING (AMR)
    • ADVANCED METERING INFRASTRUCTURE (AMI)
  3. MARKET BY APPLICATION (IN TERMS OF VALUE: $ MILLION)
    • COMMERCIAL
    • INDUSTRIAL
    • RESIDENTIAL
  4. GEOGRAPHICAL ANALYSIS (IN TERMS OF VALUE: $ MILLION & IN TERMS OF VOLUME: MILLION UNITS)
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • ITALY
      • RUSSIA
      • BELGIUM
      • POLAND
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • INDONESIA
      • THAILAND
      • VIETNAM
      • AUSTRALIA & NEW ZEALAND
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA
  1. COMPANY PROFILES
    • ACLARA TECHNOLOGIES LLC (ACQUIRED BY HUBBELL INCORPORATED)
    • ARAD GROUP
    • BADGER METER, INC
    • DATAMATIC INC
    • DIEHL STIFTUNG & CO. KG
    • ELSTER GROUP GMBH (ACQUIRED BY HONEYWELL INTERNATIONAL)
    • ICSA (INDIA) LIMITED
    • ITRON, INC
    • KAMSTRUP AS
    • LANDIS+GYR AG (ACQUIRED BY TOSHIBA CORPORATION)
    • MASTER METER INC (ACQUIRED BY ARAD LTD)
    • MUELLER WATER PRODUCTS, INC
    • NEPTUNE TECHNOLOGY GROUP INC
    • SENSUS USA INC (ACQUIRED BY XYLEM)
    • ZENNER INTERNATIONAL GMBH & CO. KG

 

TABLE LIST

TABLE 1: MARKET SNAPSHOT – SMART WATER METER

TABLE 2: NUMBER OF PEOPLE NOT HAVING ACCESS TO SAFE WATER IN TOP 10 COUNTRIES, 2017

TABLE 3: GLOBAL SMART WATER METER MARKET, BY TECHNOLOGY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 4: GLOBAL SMART WATER METER MARKET, BY TECHNOLOGY, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 5: VARIOUS ADVANTAGES OF AMR SYSTEMS

TABLE 6: GLOBAL AUTOMATIC METER READING (AMR) MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 7: GLOBAL AUTOMATIC METER READING (AMR) MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 8: GLOBAL ADVANCED METERING INFRASTRUCTURE (AMI) MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 9: GLOBAL ADVANCED METERING INFRASTRUCTURE (AMI) MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 10: GLOBAL SMART WATER METER MARKET, BY APPLICATION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 11: GLOBAL SMART WATER METER MARKET, BY APPLICATION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 12: GLOBAL COMMERCIAL MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 13: GLOBAL COMMERCIAL MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 14: GLOBAL INDUSTRIAL MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 15: GLOBAL INDUSTRIAL MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 16: GLOBAL RESIDENTIAL MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 17: GLOBAL RESIDENTIAL MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 18: GLOBAL SMART WATER METER MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 19: GLOBAL SMART WATER METER MARKET, BY GEOGRAPHY, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 20: GLOBAL SMART WATER METER MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2016-2019 (IN MILLION UNITS)

TABLE 21: GLOBAL SMART WATER METER MARKET, BY GEOGRAPHY, FORECAST YEARS, 2020-2028 (IN MILLION UNITS)

TABLE 22: NORTH AMERICA SMART WATER METER MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 23: NORTH AMERICA SMART WATER METER MARKET, BY COUNTRY, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 24: NORTH AMERICA SMART WATER METER MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN MILLION UNITS)

TABLE 25: NORTH AMERICA SMART WATER METER MARKET, BY COUNTRY, FORECAST YEARS, 2020-2028 (IN MILLION UNITS)

TABLE 26: EUROPE SMART WATER METER MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 27: EUROPE SMART WATER METER MARKET, BY COUNTRY, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 28: EUROPE SMART WATER METER MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN MILLION UNITS)

TABLE 29: EUROPE SMART WATER METER MARKET, BY COUNTRY, FORECAST YEARS, 2020-2028 (IN MILLION UNITS)

TABLE 30: ASIA PACIFIC SMART WATER METER MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 31: ASIA PACIFIC SMART WATER METER MARKET, BY COUNTRY, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 32: ASIA PACIFIC SMART WATER METER MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN MILLION UNITS)

TABLE 33: ASIA PACIFIC SMART WATER METER MARKET, BY COUNTRY, FORECAST YEARS, 2020-2028 (IN MILLION UNITS)

TABLE 34: REST OF WORLD SMART WATER METER MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 35: REST OF WORLD SMART WATER METER MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 36: REST OF WORLD SMART WATER METER MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN MILLION UNITS)

TABLE 37: REST OF WORLD SMART WATER METER MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN MILLION UNITS)

LIST OF FIGURES

FIGURE 1: SMART WATER METER TECHNOLOGY PROCESS

FIGURE 2: TYPES OF SMART METER

FIGURE 3: KEY INVESTMENT INSIGHTS

FIGURE 4: PORTER’S FIVE FORCE ANALYSIS

FIGURE 5: OPPORTUNITY MATRIX

FIGURE 6: VENDOR LANDSCAPE

FIGURE 7: VALUE CHAIN ANALYSIS: SMART METERS

FIGURE 8: GLOBAL SMART WATER METER MARKET, GROWTH POTENTIAL, BY TECHNOLOGY, 2019

FIGURE 9: GLOBAL SMART WATER METER MARKET, BY AUTOMATIC METER READING (AMR), 2020-2028 (IN $ MILLION)

FIGURE 10: GLOBAL SMART WATER METER MARKET, BY ADVANCED METERING INFRASTRUCTURE (AMI), 2020-2028 (IN $ MILLION)

FIGURE 11: GLOBAL SMART WATER METER MARKET, GROWTH POTENTIAL, BY APPLICATION, 2019

FIGURE 12: GLOBAL SMART WATER METER MARKET, BY COMMERCIAL, 2020-2028 (IN $ MILLION)

FIGURE 13: GLOBAL SMART WATER METER MARKET, BY INDUSTRIAL, 2020-2028 (IN $ MILLION)

FIGURE 14: GLOBAL SMART WATER METER MARKET, BY RESIDENTIAL, 2020-2028 (IN $ MILLION)

FIGURE 15: NORTH AMERICA SMART WATER METER MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)

FIGURE 16: UNITED STATES SMART WATER METER MARKET, 2020-2028 (IN $ MILLION)

FIGURE 17: CANADA SMART WATER METER MARKET, 2020-2028 (IN $ MILLION)

FIGURE 18: EUROPE SMART WATER METER MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)

FIGURE 19: UNITED KINGDOM SMART WATER METER MARKET, 2020-2028 (IN $ MILLION)

FIGURE 20: GERMANY SMART WATER METER MARKET, 2020-2028 (IN $ MILLION)

FIGURE 21: FRANCE SMART WATER METER MARKET, 2020-2028 (IN $ MILLION)

FIGURE 22: ITALY SMART WATER METER MARKET, 2020-2028 (IN $ MILLION)

FIGURE 23: RUSSIA SMART WATER METER MARKET, 2020-2028 (IN $ MILLION)

FIGURE 24: BELGIUM SMART WATER METER MARKET, 2020-2028 (IN $ MILLION)

FIGURE 25: POLAND SMART WATER METER MARKET, 2020-2028 (IN $ MILLION)

FIGURE 26: REST OF EUROPE SMART WATER METER MARKET, 2020-2028 (IN $ MILLION)

FIGURE 27: ASIA PACIFIC SMART WATER METER MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)

FIGURE 28: CHINA SMART WATER METER MARKET, 2020-2028 (IN $ MILLION)

FIGURE 29: JAPAN SMART WATER METER MARKET, 2020-2028 (IN $ MILLION)

FIGURE 30: INDIA SMART WATER METER MARKET, 2020-2028 (IN $ MILLION)

FIGURE 31: SOUTH KOREA SMART WATER METER MARKET, 2020-2028 (IN $ MILLION)

FIGURE 32: INDONESIA SMART WATER METER MARKET, 2020-2028 (IN $ MILLION)

FIGURE 33: THAILAND SMART WATER METER MARKET, 2020-2028 (IN $ MILLION)

FIGURE 34: VIETNAM SMART WATER METER MARKET, 2020-2028 (IN $ MILLION)

FIGURE 35: AUSTRALIA & NEW ZEALAND SMART WATER METER MARKET, 2020-2028 (IN $ MILLION)

FIGURE 36: REST OF ASIA PACIFIC SMART WATER METER MARKET, 2020-2028 (IN $ MILLION)

FIGURE 37: REST OF WORLD SMART WATER METER MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)

FIGURE 38: LATIN AMERICA SMART WATER METER MARKET, 2020-2028 (IN $ MILLION)

FIGURE 39: MIDDLE EAST & AFRICA SMART WATER METER MARKET, 2020-2028 (IN $ MILLION)

  1. MARKET BY TECHNOLOGY (IN TERMS OF VALUE: $ MILLION)
    • AUTOMATIC METER READING (AMR)
    • ADVANCED METERING INFRASTRUCTURE (AMI)
  2. MARKET BY APPLICATION (IN TERMS OF VALUE: $ MILLION)
    • COMMERCIAL
    • INDUSTRIAL
    • RESIDENTIAL
  3. GEOGRAPHICAL ANALYSIS (IN TERMS OF VALUE: $ MILLION & IN TERMS OF VOLUME: MILLION UNITS)
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • ITALY
      • RUSSIA
      • BELGIUM
      • POLAND
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • INDONESIA
      • THAILAND
      • VIETNAM
      • AUSTRALIA & NEW ZEALAND
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA

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