Europe Smart Water Meter Market size to exceed $3bn by 2027
Published Date: September 27, 2021 Authors: Ankit Gupta, Shubhankar Dimri
Europe Smart Water Meter Market size is projected to surpass USD 3 billion by 2027, as reported in the latest study by Global Market Insights Inc.
Smart water meter measures water inflow and consumption while using wireless communication technique and IoT-enabled platform allowing remote connection to the distribution network & service utilities. Government initiatives and mandates to reduce non-revenue water losses along with the emerging demand for sustainable water management solutions will boost the business landscape. The rising demand for efficient and real-time monitoring of water consumption coupled with increasing smart metering technologies will further accelerate the industry growth.
Ongoing smart city initiatives by governments will drive the industry dynamics of the Europe smart water meter market statistics
The utilities smart water meter market will witness a significant growth owing to the installation of advanced metering infrastructure along with the requirement of being connected with all smart metering devices. The ability of low power consumption, remote monitoring, integrated cybersecurity along with long-range coverage will further stimulate the product demand.
Browse key industry insights spread across 230 pages with 270 market data tables & 27 figures & charts from the report, “Europe Smart Water Meter Market Statistics By Application (Residential, Commercial, Utility), Technology (AMI, AMR), Product (Hot Water Meter, Cold Water Meter), Industry Analysis Report, Country Outlook, Application Potential, Competitive Market Share & Forecast, 2017 – 2027” in detail along with the table of contents:
Rising investments to integrate advanced metering infrastructure with wireless communication network will sway the technology demand.
Europe smart water meter market from AMR technology is anticipated to grow owing to ease of availability, low installation & maintenance costs, and enhanced design. Built-in software including cloud-based analytics as well as web user interface will enhance the technology demand. Real-time monitoring of data consumption, precise sensing technology, and IoT-enabled applications are prominent factors boosting AMR technology adoption. For instance, in 2021, Diehl launched Hydrus 2.0, its first ultrasonic bulk meter, which integrates ultrasonic measuring technology with lifetime precision and cutting-edge technology. The bulk meter will enable the utilities with reliable billings, reduced cost, battery life of up to 16 years, and provide long-lasting precision & reliability.
Growing consumer awareness about monitoring water consumption along with reliable and accurate invoices will accelerate product adoption.
Europe smart water meter market from hot water will experience significant growth owing to operational efficiency in extreme weather conditions across Northern Europe. Leak detection, flexible product configuration, sustainable billing along with overconsumption alerts will boost the industry landscape. Growing hot water storage systems across the region will stimulate product deployment. Rapid water consumption rates combined with emphasis on digitizing water metering network will further enhance the business landscape.
Strategies for efficient water management will augment the smart water meter deployment across Germany.
Rising population, climate change, and urbanization have led to an increased stress over freshwater resources and urban water systems in Germany. Efficient planning and management strategies along with increasing water demand with minimal operational expenditure and flexible urban water infrastructure will augment the business spectrum. For instance, in December 2020, E.ON installed over 20,000 smart metering systems at WWL plant in Germany for sustainable and efficient water management. Furthermore, major leading and domestic players are focusing on integrating the end points with smart metering units, positively influencing the overall industry scenario.
Initiatives by governments & utilities for efficient management and planning of water supply will augment the business outlook
The outbreak of COVID-19 has affected the Europe smart water meter market on account of slight decline in installation and deployment of metering units; however, in the second quarter of 2020, governments introduced initiatives to deploy smart metering systems across the region to fulfill their objective of smart city. Innovations in new advanced metering infrastructure along with rising digitalization will further stimulate the industry spectrum.
Ongoing joint ventures along with strategic collaborations among the players will stimulate the industry dynamics
Strategic implications including partnerships, mergers, and agreements among the leading players to provide advanced metering solutions will boost the industry spectrum. For instance, in April 2021, Apator SA signed an agreement with Griffin Group Energy to implement the design and supply of Polish smart meters to the domestic and Europe markets, aiming to build business synergy, thereby enabling the transformation into smart meters from the traditional ones.
The prominent manufacturers operating across the Europe smart water meter market include Apator SA, Diehl Metering, Siemens, Landis+Gyr, Badger Meter, Honeywell, Sontex SA, Kampstrup, Sensus, Itron, B Meters, ARAD Group, Ningbo Water Meter, and Zenner International.