Smart Water Meters Market Outlook to 2028

Drivers:

• Implementation of water conservation programs
• Supportive government policies, regulations, mandates, targets
• Demand for consumption data transparency to help reduce water bills
• Reducing the cost and the need for physical inspection
• Eliminating additional equipment for leakage detection
• Increasing adoption of smart water meters due to their Benefits
• Utility’s growing need to provide a top-class customer experience by Voluntary introduction
• Meter replacement programme
• Mandatory fitting of the water meter by the energy supplier

Definition and Benefits:

Smart water meters are electronic devices that are primarily used for automatic billing applications, monitor flow control, and measurement. They detect anomalies (e.g., leaks or violations), remote reading, and preventative maintenance.

Benefits:

• Improve sustainability and water conservation
• Improve consumer engagement
• Respond intelligently to incidents
• Optimize and efficiently manage water distribution networks
• Reduction in truck rolls
• Reduces non-revenue water losses
• Efficient and quick identification of the water leaks or other technical problems in the pipelines
• Possibility to cut off the supply of water remotely and quickly without entering the property in cases of a major accident, non-settlement, or termination of the supply agreement
• Convenient and accurate informa­tion can be obtained electroni­cally
• Permanent information on water consumption allows consumers to re-examine their consumption habits and adjust them to save finan­cial, and energy resources
• Being on a meter can make a huge difference to consumers' bills because they only pay for what they use rather than a set price based on the type of house they live in (known as ‘rateable value’)

Restraints:

• Global economy slowdown due to Covid-19 and natural calamities
• Growing concerns of privacy for customers
• Concerns for health risk by the radio waves
• Lack of government support in some countries
• Declining revenues of utilities impacting utility operating models and capital expenditure

Recent Trends & Developments:

• Landis+ Gyr is investing in the development of its first smart ultrasonic water meter
• In the United Kingdom, as part of a nationwide upgrade to the energy system, Smart meters are being installed by every energy supplier for free
• In August 2020, Badger Meter announced the availability of a new metering-as-a-service programme that includes end-to-end advanced metering deployments
• In the Middle East, Qatar General Electricity & Water Corporation, KAHRAMAA, has started the rollout of smart meters and aims to deploy more than half a million devices over the next 3 - 4 years

Opportunities:

• Smart water meters rollouts - the UK, Europe (Italy, Spain, France)
• subscription-based Smart metering as a service (SMaaS) - North America, Asia Pacific, Europe

Supportive schemes and policies for smart meter installations:

• India - AMRUT
• Greece, 2021 - Antonis Tritsis Programme

Publisher's smart water meters market report provides insights into the current global and regional Global market demand scenario and its outlook.

This study offers a detailed analysis of various factors instrumental in affecting the smart water meters market's growth. The study also comprehensively analyses the market based on the type of smart meter (AMI, AMR), and geography (North America, Europe, Asia-Pacific, and the Rest of the world).

This report also includes the latest market trends, drivers and restraints, present and future opportunities, new projects, the global impact of Covid-19 on the smart water meters market, and significant developments.

Further, the report will also provide smart water meters market size, demand forecast, and key competitors in the market.


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