- What are the primary applications of smart water meters regionally and globally?
- Which companies are pushing this market forward, and why?
- What are the pros and cons of each product type?
- Which regions are leading the market, and why?
- What are the business models behind smart water meters?
- What are the smart water meter market's drivers and barriers?
2Q 2024
Residential Smart Water Meters
Advanced Meter Technology for Newly Constructed and Retrofitted Homes: Global Market Analysis and Forecasts, 2024-2033
The market for residential smart water meters is expected to experience global growth during this report’s 2024-2033 forecast period, which will directly benefit utilities, customers, and smart meter manufacturers. The technology has increasingly appealed to water utilities looking to reduce costs and manage water usage as the demand for water conservation rises. AI-powered platforms are reshaping how meter technology is quickly and effectively processing data collection for billing, while identifying potential issues.
A rising demand in water conservation is driving the market for smart water meters as shifting climate patterns result in water scarcity and severe droughts in arid regions. While barriers to smart water meters remain—including privacy and security issues and high initial investment costs—urbanization and emerging automatic meter reading (AMR) and advanced metering infrastructure (AMI) solutions will drive the market over the next decade. Industry players wanting to increase adoption must implement strong security measures while investing in high end communication networks. Guidehouse Insights expects the global smart water meter market to grow from more than $3.0 billion in 2024 to more than $5.0 billion in 2033.
This Guidehouse Insights report analyzes the global market for smart water meters, segmented by two product types: AMR and AMI. It provides an analysis of the market issues, including business cases, opportunities, and implementation challenges, associated with smart water meters. Global market forecasts for revenue, broken out by segment and region, extend through 2033.
Pages
27
Tables | Charts | Figures
25
Key Questions Addressed
Who Needs This Report
- Water meter utilities
- Smart water meter technology companies
- Meter project developers
- Government agencies
- Investor community
Table Of Contents
1. Executive Summary
1.1 Market Introduction
1.2 Report Scope
1.3 Market Highlights
2. Market Issues
2.1 Market Drivers
2.1.1 Rising Demand for Water Conservation
2.1.2 Government Initiatives and Regulations
2.1.3 Growth in Urbanization and Water Usage
2.1.4 Reduction of Staff Time and Costs
2.1.5 Technological Advances
2.2 Barriers
2.2.1 High Initial Investments and Ongoing Maintenance
2.2.2 Privacy and Security Concerns
2.2.3 Lack of Standardization
2.2.4 Technical Challenges
2.2.5 Resistance to Change
2.3 Pricing
2.4 Other Business Issues
2.4.1 Integration of IoT and Cloud Technology
2.4.2 AI
2.4.3 AMI Emergence
2.5 CEO 360 Degree View
3. Industry Value Chain
3.1 Value Chain for Smart Water Meters
3.1.1 AMR
3.1.2 AMI
3.2 Competitive Landscape
3.2.1 Itron
3.2.1 Landis + Gyr
3.3 Merger and Acquisition Activities
3.4 Business Model Evolution
4. Market Forecasts
4.1 Forecast Methodology
4.2 Global Market Forecast
4.2.1 North America
4.2.2 Europe
4.2.3 Asia Pacific
4.2.4 Latin America
4.2.5 Middle East & Africa
5. Conclusions and Recommendations
5.1 Three Big Takeaways
5.2 Recommendations
5.2.1 Improving Connectivity and Interoperability
5.2.2 Stakeholder Collaborations and Partnerships
5.2.3 Address Privacy and Security Concerns
6. Acronym and Abbreviation List
7. Table of Contents
8. Table of Charts and Figures
9. Scope of Study, Sources and Methodology, Notes
List of Charts and Figures
- Smart Water Meter Revenue by Region, World Markets: 2024-2033
- Smart Water Meter Revenue by Product Type, North America: 2024-2033
- Smart Water Meter Revenue by Product Type, Europe: 2024-2033
- Smart Water Meter Revenue by Product Type, Asia Pacific: 2024-2033
- Smart Water Meter Revenue by Product Type, Latin America: 2024-2033
- Smart Water Meter Revenue by Product Type, Middle East & Africa: 2024-2033
- AMI Value Chain
- Smart Water Meter Business Model Evolution
List of Tables
- Smart Water Meter Revenue by Region, World Markets: 2024-2033
- Smart Water Meter Revenue by Residential Building Type, World Markets: 2024-2033
- Smart Water Meter Revenue by Meter Type, World Markets: 2024-2033
- Smart Water Meter Revenue by Residential Building Type, North America: 2024-2033
- Smart Water Meter Revenue by Product Type, North America: 2024-2033
- Smart Water Meter Revenue by Residential Building Type, Europe: 2024-2033
- Smart Water Meter Revenue by Product Type, Europe: 2024-2033
- Smart Water Meter Revenue by Residential Building Type, Asia Pacific: 2024-2033
- Smart Water Meter Revenue by Product Type, Asia Pacific: 2024-2033
- Smart Water Meter Revenue by Residential Building Type, Latin America: 2024-2033
- Smart Water Meter Revenue by Product Type, Latin America: 2024-2033
- Smart Water Meter Revenue by Residential Building Type, Middle East & Africa: 2024-2033
- Smart Water Meter Revenue by Product Type, Middle East & Africa: 2024-2033
- Pricing Elements for a Smart Water Meter System
- CEO 360 Degree View
- Total Market: Competitive Structure
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