Smart Water Metering Market Size

Smart Water Meter Market Size

Smart Water Metering Market size was valued at USD 2.1 billion in 2022 and is set to grow at over 27.1% CAGR from 2023 to 2032, influenced by the increasing awareness regarding the efficient utilization of water resources and growing concerns surrounding the reduction of non-revenue water. The business landscape will be enhanced by ongoing technological advancements aimed at integrating advanced metering networks with IoT-based platforms, enabling efficient monitoring of water consumption patterns. The adoption of intelligent and sustainable water management solutions, which facilitate accurate billing and remote metering, will further accelerate the uptake of these products. Moreover, favorable government standards and mandates promoting the use of smart water meters will have a positive impact on the market statistics.

To get key market trends

  Download Free Sample

Smart water meters are advanced devices used for measuring and monitoring water consumption in residential, commercial, and industrial settings. These meters are equipped with integrated technology that enables real-time data collection, communication, and analysis of water usage. Unlike traditional mechanical water meters, smart water meters have additional features and capabilities, including Automated Meter Reading (AMR), remote monitoring, leak detection, consumption analysis and various others, which complements the smart water meter market penetration.