by Smart water meters provide real time information on water usage which helps manage water resources efficiently. These meters transmit consumption data to the control centers thereby avoiding human errors involved in manual meter reading. They offer automated meter reading which improves billing and revenue management for water utilities. Smart water meters find application in residential and commercial facilities to monitor water distribution networks and detect leakages.
The global Europe smart water meter market was valued at US$ 2.01 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by CoherentMI.
The Europe smart water meter market comprises of various types of electronic devices that keep tracks of water usage and send the information electronically to the software system where it can be accessed and analyzed. Smart water meters are useful for residential homes as well as for commercial buildings to efficiently monitor water usage. They allow utilities to precisely measure water consumption and detect leakages in the system early. Smart water meters help save water wastage and enable customers control their usage through mobile apps. The growing focus on water conservation and sustainability has amplified the demand for smart water meter solutions across Europe.
Market Key Trends:
One of the key trends in the Europe smart water meter market is the rising adoption of advanced metering infrastructure. AMI solutions integrate smart water meters, communication networks as well as meter data management systems. They automate the meter reading process, error-free billing and facilitate efficient management of supply and demand. AMI enables two-way communication between smart meters and utility control centers using RF mesh networking technologies. Transition towards development of smart cities across Europe is also driving the adoption of smart water metering systems to improve water distribution networks. Governments are undertaking initiatives to upgrade aging water infrastructure with advanced smart metering technologies to reduce non-revenue water loss.
Porter’s Analysis :
Threat of new entrants: The threat of new entrants is moderate due to high initial capital requirement for infrastructure development and government regulations.
Bargaining power of buyers: The bargaining power of buyers is high due to presence of multiple vendors providing similar solutions.
Bargaining power of suppliers: The bargaining power of suppliers is low due to availability of substitute components from different suppliers.
Threat of new substitutes: The threat of new substitutes is low as smart water meters provide advantages over traditional meters.
Competitive rivalry: The competitive rivalry is high among key players to gain higher market share.
Europe Smart Water Meter Market Segmentation:
- By Technology
- Automatic Meter Reading
- Advanced Meter Infrastructure
- Others
- By Type
- One-way Water Meters
- Two-way Water Meters
- Smart Water Meters
- Others
- By Component
- Meters & Accessories
- IT Solutions
- Communications
- Others
- By Application
- Residential
- Commercial
- Industrial
- Others
Key Takeaways :
The Europe Smart Water Meter Market Size is expected to witness high growth. The market is estimated to reach US$ 2.01 Bn by 2024, expanding at a CAGR of 11% during the forecast period.
Regional analysis: Germany dominates the Europe smart water meter market, both in terms of value and volume, owing to stringent regulatory policies for installation of smart metering solutions. The UK and France also contribute significantly to regional market growth.
Key players: Key players operating in the Europe smart water meter market are Itron, Diehl Metering, Zenner International, Elster Group, Kamstrup, Landis+Gyr, Sensus, Aclara Technologies, Badger Meter, and Neptune Technology Group. Itron dominates the market and is continuously investing in R&D to develop advanced metering infrastructure solutions.
*Note:
1. Source: CoherentMI, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
