Smart Water Meter - Market Drivers and Forecast From Technavio

Technavio has published a new report on the global smart water meter market from 2017-2021. (Graphic: Business Wire)

LONDON--()--Technavio analysts forecast the global smart water meter market to grow at a CAGR of over 20% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the global smart water meter market for 2017-2021. The study considers revenue generated from residential area segment and commercial and industrial segment to determine the market size.

The residential area segment dominates the global market, holding a share of over 83% in 2016. The ease of integration between smart water meters installed in homes to the smart water management network is the main reason for the high market penetration rates. Installation of smart meters in homes helps achieve accurate billing, real-time monitoring of water in the network, more efficient fixing of leaks, and enhanced customer engagement.

The global smart water meter market is likely to be valued at USD 12.18 billion by 2021, with the Americas in the lead. More than 62% of the total incremental growth is expected to originate from this market segment. The need to comply with strict government norms, the evolution of smart cities in the region, and rapid development of water infrastructures have been driving the smart water meter market in the Americas.

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Technavio analysts highlight the following three factors that are contributing to the growth of the global smart water meter market:

  • Impact of growing population
  • Need to reduce non-revenue water
  • Evolving sustainable water management systems

Impact of growing population

Water security is a major driver for the smart water industry, with many countries expected to fall short of food and water with the rapid population growth and changing food patterns. The growth in urbanization is increasing the pressure on the water infrastructure. This has highlighted the importance of adoption of new measures like smart water meters to effectively manage the water consumption and supply globally.

Globally, rapid urbanization, industrialization, and population growth have created a demand for clean water. This demand increases the stress on the existing water infrastructure, which is driving the adoption of advanced information and communication technology solutions such as smart water meters in the water networks. This enables the end-users to have real-time information on water consumption and its usage areas, says Thanikachalam Chandrasekaran, one of the lead analysts at Technavio for power research.

Need to reduce non-revenue water

Non-revenue water is the water that does not generate any revenue. It is treated water sent by the utility but is not consumed. A high level of non-revenue water is usually indicative of a poorly managed water utility, and the need to reduce this is a major driver for this market. Even though this cannot be eliminated completely, the adoption of technologies like sensors, smart meters, and data analytics in the water distribution network helps control the loss.

Using communication network, smart meters can transmit data regarding the operational status of the consumer and distribution network back to the operator. Since this information is made available to both the customer and the utility, there is a new level of transparency to the water supply network. With this transparency, there is a decrease in commercial losses, and indicate any theft, backward water flow, or incidents of tampering or attempts to manipulate the meter. Since smart meters do not have moving parts, they are very efficient in the long run.

Evolving sustainable water management systems

Faulty pipes and systems can cause the loss of millions of gallons of water. The installation of smart meters has helped operators to detect leaks in pipelines, thereby, enabling utilities to take appropriate measures to reduce water losses. The installation of smart meters has reduced water consumption by 20% and energy consumption by 30% across the country, says Thanikachalam.

Additionally, increased need to efficiently manage available water resources is another factor that demands implementation of smart water meters. Factors such as rising population, urbanization, changing consumption patterns, global warming, and geographic variations are creating a high demand for water. Governments across the globe are planning to optimize water supply and wastewater management systems to meet the high-water demand, resulting in the implementation of smart meters in the water management systems.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770

Release Summary

Technavio analysts forecast the global smart water meter market to grow at a CAGR of over 20% during the forecast period, according to their latest report.


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770