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Smart Water Meter Market by Technology, End-user, and Geography - Forecast and Analysis 2020-2024

  • Published: Apr 2020
  • Pages: 120
  • SKU: IRTNTR40342
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The smart water meter market size has the potential to grow by USD 3.94 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.

This smart water meter market research report provides a detailed analysis of the market by technology (AMI and AMR), end-user (residential and commercial), and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Badger Meter Inc., Honeywell International Inc., Itron Inc., Kamstrup AS, Landis+Gyr AG, Maddalena Spa, Sanchuan Wisdom Technology Co. Ltd., SUEZ SA, Veolia Environnement SA, and Xylem Inc.

Smart Water Meter Market Size

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Market Competitive Analysis

The smart water meter market is fragmented. The key vendors in the market are focusing on the M&A activities to increase the smart water meter market demand and increase their market shares. Maddalena Spa, Sanchuan Wisdom Technology Co. Ltd., SUEZ SA, Veolia Environnement SA, and Xylem Inc. are some of the major market participants. Although the benefits of using smart water meters will offer immense growth opportunities, the high capital and operational costs will challenge the growth of the market participants. To improve their smart water meter market share, vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this smart water meter market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this report also provides information on the upcoming smart water meter market trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This smart water meter market analysis report provides information on the production, sustainability, and prospects of several leading companies, including:

  • Badger Meter, Inc.
  • Honeywell International Inc.
  • Itron Inc.
  • Kamstrup AS
  • Landis+Gyr AG
  • Maddalena Spa
  • Sanchuan Wisdom Technology Co. Ltd.
  • SUEZ SA
  • Veolia Environnement SA
  • Xylem Inc.

Smart Water Meter Market: Segmentation by Region

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North America was the largest smart water meter market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Early adoption of water management solutions and the presence of regulatory policies mandating industries in the region to comply with water-usage and discharge-related norms will significantly drive the smart water meter market growth in this region during the forecast period.

Almost 55% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for smart water meters in North America. Market growth in this region will be slower than the growth of the market in Europe and APAC.

Smart Water Meter Market: Segmentation by Technology

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AMI functions include water meter readings, tamper and theft detection, service connection and disconnection, and fault and leakage identification. Coupled with technologically advanced customer-based digital technologies, AMI enables utilities to offer new rate options, thus incentivizing customers to reduce peak demand and water consumption. Factors such as technological advancements over AMR systems, changing needs of water utilities, and product and cost benefits of using AMI water management systems along with electricity and gas services are expected to drive the growth of the AMI segment during the forecast period.

The smart water meter market share growth by the AMI segment will be faster than the growth of the market by the AMR segment. This report provides an accurate prediction of the contribution of all the smart water meter market segmentation.

Smart Water Meter Market Dynamics

Water utilities are increasingly adopting various technologies, including smart water meters, for non-revenue water management. This will allow water utilities to expand and improve services, increase climate resilience, enhance financial performance, and minimize water consumption. The use of smart water meters will eliminate the need for onsite meter reading and enable automatic leak detection. Smart water meters will also help customers in tracking their consumption patterns and adjust water consumption accordingly to meet pre-specified conservation efforts. The use of smart water meters for non-revenue water management will help in managing water consumption and thereby enable water conservation. Such benefits of using smart water meters will fuel the growth of the smart water meter market size at a CAGR of almost 11% during the forecast period.

Governments of various countries are focusing on the development of smart cities. Smart cities involve the deployment of various communication devices and IT, such as IoT and cloud-based services, to optimize the use of resources and improve governance, transportation, healthcare, and waste management. The development of smart cities will create new growth opportunities for smart water meter vendors. For instance, under the Smart Cities Mission of Government of India, smart water meters are proposed to be installed in the households of smart cities. Such developments undertaken by governments of various countries will boost the demand for smart water meters during the forthcoming years. Thus, the development of smart cities will be one of the critical smart water meter market trends over the forecast period. The trend will have a significant influence on the growth of the market.

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Key Highlights of the Smart Water Meter Market Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive smart water meter market growth during the next five years
  • Precise estimation of the smart water meter market size and its contribution to the parent market
  • Accurate predictions on upcoming smart water meter market trends and changes in consumer behavior
  • The growth of the smart water meter industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of smart water meter market vendors  

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Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Technology

  • Market segments
  • Comparison by Technology placement
  • AMI - Market size and forecast 2019-2024
  • AMR - Market size and forecast 2019-2024
  • Market opportunity by Technology

Market Segmentation by End-user

  • Market segments
  • Comparison by End user placement
  • Residential - Market size and forecast 2019-2024
  • Commercial - Market size and forecast 2019-2024
  • Market opportunity by End user

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography

Drivers, Challenges, and Trends

  • Market drivers
  • Volume driver - Demand led growth
  • Volume driver - Supply led growth
  • Volume driver - External factors
  • Volume driver - Demand shift in adjacent markets
  • Price driver - Inflation
  • Price driver - Shift from lower to higher-priced units
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption
  • Vendor Analysis

Vendors covered

  • Market positioning of vendors
  • Badger Meter, Inc.
  • Honeywell International Inc.
  • Itron Inc.
  • Kamstrup AS
  • Landis+Gyr AG
  • Maddalena Spa
  • Sanchuan Wisdom Technology Co. Ltd.
  • SUEZ SA
  • Veolia Environnement SA
  • Xylem Inc.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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Smart Water Meter market growth will increase by $3939.46 million during 2019-2024.
The smart water meter market is expected to grow at a CAGR of 10.54% during 2019-2024.
Technavio has segmented the smart water meter market by technology (AMI and AMR) and geographic (North America, Europe, APAC, and South America).
Badger Meter Inc., Honeywell International Inc., Itron Inc., Kamstrup AS, Landis+Gyr AG, Maddalena Spa, Sanchuan Wisdom Technology Co. Ltd., SUEZ SA, Veolia Environnement SA, Xylem Inc. are a few of the key vendors in the smart water meter market.
North America will register the highest growth rate of 55.45% among the other regions. Therefore, the smart water meter market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the smart water meter market growth are:
  • Rise in global water demand
The smart water meter market vendors should focus on grabbing business opportunities from the ami segment as it accounted for the largest market share in the base year.
  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?
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