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Residential Smart Water Metering Market Trends

Report ID: GMI6252
Published Date: Jul 2023
Report Format: PDF

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Residential Smart Water Metering Market Trends

The increasing popularity of smart home technologies is driving the adoption of smart water meters in residential properties. Homeowners are seeking ways to enhance their overall home automation and efficiency, and smart water meters fit into this trend by providing real-time data and insights on water usage. Water conservation and sustainability have become significant concerns worldwide. Smart water meters enable homeowners to monitor their water consumption closely, detect leaks, and make informed decisions to reduce water wastage, aligning with the growing emphasis on sustainable practices.

Furthermore, smart water meters are becoming an integral part of smart city initiatives, where cities aim to leverage data and technology to improve urban infrastructure. The integration of smart water meters with the Internet of Things (IoT) enables better data management and analysis for efficient water management in residential areas, thus proliferating the market statistics.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of residential smart water meter reached USD 1.3 billion in 2023 and is poised to surpass USD 11.2 billion by 2032.

AMI technology was valued at over USD 540 million in 2022 and is expected to rise to over USD 8.7 billion by 2032, as these units enable utilities to remotely collect, monitor, and manage data from utility meters, such as electricity, gas, and water meters.

Europe market is anticipated to grow at a CAGR of over 27% through 2032, owing to the ongoing efforts by the government and policy makers to tackle water scarcity and conservation challenges.

Diehl Stiftung & Co. KG, Apator S.A., Badger Meter, Inc., Landis+Gyr, Honeywell International Inc., kamstrup, Itron Inc., Sensus, Arad Group, ZENNER International GmbH & Co. KG, Neptune Technology Group Inc., and Aclara Technologies LLC.