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Europe Smart Water Meter Market Size By Application (Residential, Commercial, Utility), By Technology (AMI, AMR), By Product (Hot Water Meter, Cold Water Meter), & Global Forecast, 2023 – 2032
- Report ID: GMI5121
- Published Date: Apr 2023
- Report Format: PDF
Europe Smart Water Meter Market Size
Europe Smart Water Meter Market size surpassed USD 1 billion in 2022 and is anticipated to grow at 28% CAGR from 2023 to 2032 driven by the rising inclination towards intelligent systems in water sources.
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The deployment of smart water meters helps water distributors and consumers efficiently track water consumption patterns. Additionally, it provides ample benefits, including improved customer services, billing systems, modelling, and asset management. Owing to these benefits, European regulatory authorities are transitioning toward smart water meter systems from inefficient conventional counterparts, presenting lucrative industry growth pathways.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Europe Smart Water Meter Market Size in 2022: | USD 1 billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 28% |
| 2032 Value Projection: | USD 12.4 billion |
| Historical Data for: | 2019 to 2022 |
| No. of Pages: | 280 |
| Tables, Charts & Figures: | 424 |
| Segments covered: | Application, Technology, Product |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Furthermore, recent advancements in water metering technology are further opening new growth avenues for the Europe smart water meter market. For instance, in January 2023, Diehl Stiftung & Co. KG, a German provider of smart metering systems, announced the launch of IZAR@SMART WATER, a web-enabled water loss management software for the efficient monitoring of non-revenue water.
Despite the high adoption rate of smart water meters, data infringement risks related to these systems pose major challenges to industry development. Hardware architecture, firmware, network interface, and system applications in smart water meters are highly vulnerable to data breaches. Morover, network-related attacks in these systems may occur due to the bidirectional communication link between the main gateway and the metering unit. These factors have prompted many users to accelerate their shift towards highly secured low-cost alternatives for recording water consumption patterns, which may limit product sales by 2032.
Europe Smart Water Meter Market Analysis
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Europe smart water meter market from the residential segment is slated to observe 27% growth during 2023-2032 led by an escalating need for optimization of water usage. In fact, governments in the region are investing considerable amounts in the supply of safe drinking water across the residential sector, which will propel the espousal of smart water meters.
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The industry size from the AMI technology type recorded a valuation of more than USD 500 million in 2022, because of its exceptional sensing accuracy and the high degree of inflow management capability. These devices can efficiently manage water supply even in challenging environments in urban and rural areas. In addition, the wide range availability of user-friendly AMI smart water meters equipped with secured web-enabled payment systems and integrated billing features will further create a strong impetus for market expansion.
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Germany smart water meter market is estimated to amass USD 2 billion by 2032. The surging population has bolstered the focus of government authorities on urban systems and freshwater sources for efficient water supply in the country. However, changing climatic conditions in the country have further propelled the need for smart water management devices, paving the way for regional business development.
Europe Smart Water Meter Market Share
Some prominent players in Europe smart water meter business scenario include:
- Siemens
- Landis+Gyr
- Kastrup
- Itron Inc., Arad Group
- Apator S.A
- Badger Meter Inc
- Sontex SA, and ZENNER International GmbH & Co. KG
Partnerships have become the go-to strategy of these players to keep ahead of the competition.
Citing an instance, in March 2023, Itron, a leading provider of products and services for water and energy resource management inked a deal with Abbanoa S.p.A., a prominent water supplier in Italy, for the distribution of its Intelis wSource smart water meters to support sustainable utilization of water and reduce its wastage. The company’s ultrasonic water meters are expected to help Abbanoa monitor water usage and reap the benefits of data while supplying water in the Mediterranean Sea.
This market research report on Europe Smart Water Meter includes in-depth coverage of the industry with estimates & forecasts in terms of “USD Million” from 2019 to 2032 for the following segments:
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Market, By Application
- Residential
- Commercial
- Utility
Market, By Technology
- AMI
- AMR
Market, By Product
- Hot Water Meter
- Cold Water Meter
The above information has been provided for the following countries:
- Germany
- Poland
- Sweden
- Denmark
- Finland
- Russia
- Italy
- UK
- Norway
- Czech Republic
- Estonia
- Latvia
- Lithuania
- Switzerland
- Austria
- Spain
Frequently Asked Questions (FAQ) :
Europe Smart Water Meter Market Scope
