Global Smart Water Meter Market to Hit USD 29.75 Billion by 2035 | CAGR 11.85%

Read more about this report- Global Smart Water Meter Market to Hit USD 29.75 Billion by 2035 | CAGR 11.85%

The Smart Water Meter Market is valued at USD 8.68 Billion in 2024. The Smart Water Meter Market will achieve USD 29.75 Billion by 2035 through a projected 11.85% CAGR from 2025 to 2035.

The increase in smart city projects and an increase in the focus on conserving water lead to the growth of smart water meter demand, and the initial installation process and the cost of establishing the infrastructure have become a restraint. The potential opportunity can be seen in the concept of combining AI and IoT, using them to find leakages in real time and predict those before they happen, eliminating losses and increasing efficiency.

Depending on the type (electromagnetic, ultrasonic, or mechanical meter), meter size (small, medium, or large meter), functionality (automatic meter reading (AMR) or advanced metering infrastructure (AMI)), component (hardware, software, or services), and end user (residential, commercial, or industrial), the smart water meter market is subdivided. Market sellers head with the AMI segment owing to growing investments into two-way communication-enabled meters, chimed along by the utilities operators, which want to facilitate real-time monitoring and dynamic billing.

The usage is in residential water tracking, industrial water management, and commercial utilities. The area of residential is growing fast, with increasing household-level consumption monitoring and with innovations like cloud-based dashboards, connected IoT meters, and mobile tools that can be used to get real-time alerts of consumption and leak detection.

The major market drivers are the updates in the public infrastructure and the smart utility initiatives. An instance is the Smart Metering Implementation Programme (SMIP) in the UK, which seeks to incentivise utility providers to change to smart metering systems across the water sectors in an attempt to enhance transparency and conservation measures.

The global market of smart water meters comprises five geographies: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In India, the goal of the government's Jal Jeevan Mission is 100% water metering and digitalisation in rural and urban areas, which provides significant opportunities for the use of smart meters.

Key players in the smart water meter industry are Itron Inc., Sensus (Xylem), Badger Meter, Kamstrup, and Diehl Metering. Interoperable platforms, AI-based leak analytics, and the start of collaboration with city administrations are the technologies introduced by these companies, which sh