The unit shipments of the Global Smart Water Meters were at 16.578 million units in 2020, with the market expected to register a CAGR of 9.7% during the forecast period 2021-2026. With increasing pressure on water utilities due to growing demand, increasing water stress, rising energy prices, and aging water systems, smart water network solutions have emerged with significant benefits, by combining advanced metering technology, software, and effective communications systems. The integration of the said components enables end users to account for every drop and turn water into revenue through enhanced leak detection and unparalleled data acquisition.

- The critical need for optimized consumption of water in water-scarce areas is driving the deployment of smart water meters. For instance, according to a report by the World Water Development Report, 480 million people in Asia alone are expected to face water scarcity in the future.
- Moreover, about 500 million people live in areas where water consumption exceeds locally renewable water resources by a factor of two. Owing to these concerns, there is an increasing necessity to monitor water usage, which is anticipated to subsequently result in increasing adoption of smart water meters.
- The lack of availability of capital funding remains a major challenge that hindering the adoption of smart water meters. The operating costs associated with smart water metering are also high. Thus, many water utilities are not flush with cash and spend much of their budgets on making network repairs just to maintain status quo.

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Key Market Trends

Residential Segment is Anticipated to Hold a Major Market Share

Most housing complexes do not track the consumption or usage of water in apartments. The growing number of residential buildings and the consequent increase in water consumption are expected to have a positive impact on the integration of smart water meters.
The integration or incorporation of smart meters in the residential sector is likely to save or mitigate water consumption by about 35%, which will not only foster efficiency, but also help residents manage their bills.
The countries prone to droughts present an immense opportunity to the smart water meters market, which will help save water consumption, and effectively manage the water flow to residential areas.

Competitive Landscape

The smart water meter market is highly competitive and consists of several major players. In terms of market share, a few of the major players currently dominate the market. However, companies are increasing their market presence by securing new contracts and by tapping new markets. For instance, in 2018, Diehl announced that the Diehl metering software solution is now available on Microsoft Azure. The company’s IZAR software provides the central platform for all of the energy data, making all processes simpler and more cost-efficient, from meters and remote reading, through to data management and comprehensive data analysis.

Furthermore, in 2017, ZENNER took over Alfa Centauri SpA, further expanding its position in the international smart meter market. The new company is likely to be registered in the future as ZENNER Gas S.r.l., and may move its headquarters from Fara Filiorum Petri (Italy), to Pescara. With this, the company is setting another milestone in its global digitalization. ZENNER has already been providing smart water meters, heat meters, and heat cost allocators for several years.

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