Smart Water Metering Market By Meter Type (Electromagnetic Meter, Ultrasonic Meter, and Mechanical Meter), Technology (Automatic Meter Reading and Advanced Metering Infrastructure), Component (Meter & Accessories, IT Solutions, and Communications (Wired and Wireless)), and Application (Residential, Commercial, and Industries): Global Opportunity Analysis and Industry Forecast, 2021-2030

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A smart water meter device is an enhanced monitoring solution designed to gather the water meters readings or data from each meter automatically on a set date and time. Further, smart water meter technology is equipped with an in-build wireless communication solution such as an NB-Fi transceiver capable of transmitting data at a range of more than 5KM. In addition, rise in demand for self-recording water usage reading and recording solutions is expected to offer profitable opportunities for the smart water meter market. Moreover, the deployment of AI-powered solutions in the industrial and commercial sectors is one of the prime factors driving the growth of the smart water meter market in the coming years.

The global smart water meter market is highly competitive, owing to the strong presence of existing vendors. Smart water meter vendors who have access to extensive technical and financial resources are anticipated to gain a competitive edge over their rivals, as they have the capacity to cater to the market requirements. The competitive environment in this market is expected to further intensify with increase in technological innovations, product extensions, and different strategies adopted by key vendors.

Surge in demand for e-commerce platform globally is driving the need to enhance smart water meter solutions such as chatbots and voice assistants. Moreover, prime economics, such as the U.S., China, Germany, and Japan, plan to develop and deploy next-generation smart water meter solutions across various sectors. For instance, in March 2021, the U.S. President Joe Biden announced a massive plan to modernize the U.S. infrastructure with an estimated budget of over $2.25 trillion, which is anticipated to provide lucrative opportunities for the market growth.

Among the analyzed regions, North America exhibits the highest adoption rate of smart water meter and has been experiencing massive expansion of the market. On the other hand, Asia-Pacific is expected to grow at a faster pace, predicting lucrative growth due to emerging countries, such as China, Japan, and India, investing in these technologies. Regions, such as the Middle East and Africa, are expected to offer new opportunities in the smart water meter market in future.

The key players profiled in the report include Aclara Technologies LLC, Badger Meter, Inc, Honeywell International, ltron, Inc., Kamstrup A/S, Landis+Gyr, Mueller Water Product, Inc., Neptune Technology Group Inc., Siemens AG, and Sensus Inc.