Smart water meters are electronic devices used mainly by water utilities to measure water inflow & consumption from remote locations using wireless communication & IoT-enabled platforms. They provide more advantages than traditional meters, like better precision & accuracy in data, to customers & service providers. Moreover, they also help detect leaks & heavy water usage. Various advancements are undergoing toward enhancing the performance of these meters & making them an economical source for estimating water consumption. These benefits of smart water meters are driving the attention of many end-user industries across Europe and, in turn, projecting a significant expansion of the overall market in the coming years.
The Europe Smart Water Meter Market is projected to grow at a CAGR of around 9% during the forecast period, i.e., 2022-27. The growth of the market is driven principally by various measures taken to minimize non-revenue water, the mounting need for efficient utilization of resources, and rapid technological advancements to integrate advanced metering infrastructure with IoT-enabled platforms.
Europe has been profoundly active in embracing advanced technologies, including Advanced Metering Infrastructure (AMI), District Water Meter (DWM), Pressure Water Meter (PWM), and Automatic Meter Reading (AMR). As a result, people across the region are highly aware of the various benefits of smart meters, viz., secured online payments, inline consumer apps & command control systems, & integrated billing, among others.
In addition, favorable government policies for the adoption of smart water meters, massive investments in developing smart city infrastructure, and stringent government norms to minimize residential, commercial, & utility water waste are other prominent aspects anticipated to boost the Smart Water Meter Market across Europe through 2027.
Impact of Covid-19 on the Europe Smart Water Meter Market
The Covid-19 pandemic in 2020 drastically impacted most industries across Europe, where the Europe Smart Water Meter Market witnessed a moderate effect of the crisis. In the initial months, there was a slim slump in the installation & deployment of smart water meters across Europe owing to stringent movement restrictions & lockdowns imposed by governments of different European countries to curb the spread of the disease.
However, in the second quarter, governments came up with numerous initiatives to deploy smart water meter systems across the region in line with their mounting focus on smart city developments. As a result, the coming years are full of significant growth opportunities for the Europe Smart Water Meter Market, owing to several innovations in the advanced metering infrastructure, coupled with the growing digitalization across the region.
Based on Technology:
Amongst these three, Advanced Metering Infrastructure (AMI) is projected to dominate the Europe Smart Water Meter Market with the largest share during 2022-27. It attributes primarily to its benefits like process optimization, real-time data management, minimized labor costs, accurate consumption insights, & extensive battery life, among others.
AMI is the most recent meter reading technology being progressively adopted by water utilities across Europe. It promotes 2-way communication between smart meters & users and continuously monitors usage & performance, which enables enhanced load balancing among different countries and makes it more convenient for users to manage their water consumption & detect leaks.
As a result of these advantages, utilities across the region are increasingly adopting AMI-based smart water meters and have observed reduced water leakage & non-revenue water. Moreover, easy integration with water meter data and simple billing for industrial & commercial users are other benefits associated with AMI contributing to their burgeoning requirement across several European countries.
Geographically, the Europe Smart Water Meter Market expands across:
Of all countries in Europe, the UK is the most prominent smart water meter market projected to witness an abundance of growth opportunities through 2027. Various government initiatives for minimizing meter tampering activities & non-revenue water are positively influencing the market growth in the UK. Furthermore, rigorous R&D activities by leading market players in the country to enhance the user-interface abilities like consumer apps, leakages alerts, and hour-wise consumption readings are further likely to boost the adoption of smart meters in the UK over the forecast years.
On the other hand, France is observing a stable market growth rate due to various ongoing projects toward digitalizing water services. In Germany, the government is making several efforts toward encouraging the utilization of smart water meters across the country. Nevertheless, the rise in government focus toward subsidizing water meters, coupled with the soaring industrial reliance on water resources, are other crucial aspects projected to drive the smart water meter market in these countries over the forecast years.
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The Europe Smart Water Meter Market is projected to grow at a CAGR of around 9% during 2022-27.
A. Favorable government mandates & incentives to reduce non-revenue water losses and the surging need for sustainable water management solutions are the key factors projected to drive the Europe Smart Water Meter Market during 2022-27.
A. The various ongoing & upcoming initiatives for smart city developments taken by governments of major countries in Europe is the key trend projected to boost the Smart Water Meter Market in the coming years.
A. Advanced Metering Infrastructure (AMI) is projected to emerge as an area of remunerative opportunities for the leading players in the Europe Smart Water Meter Market through 2027.
1.1. Product Definition
1.2. Research Process
1.4. Market Segmentation
2. Executive Summary
3. Expert Verbatim- What our Experts Say?
4. Macroeconomic Outlook
5. Europe Smart Water Meter Market Outlook, 2017-2027
5.1. Market Potential & Outlook
5.1.1. Units Sold
5.1.2. Market Revenues
5.2. Market Segmentation & Outlook
5.2.1. By Type
220.127.116.11. One Way
18.104.22.168. Two Way
5.2.2. By Technology
22.214.171.124. Automated Meter Reading
126.96.36.199. Advanced Metering Infrastructure
188.8.131.52. Standard Meters
5.2.3. By End Users
5.2.4. By Country
184.108.40.206. CIS + Russia
220.127.116.11. Central & Eastern
5.2.5. By Company
18.104.22.168. Revenue Shares
22.214.171.124. Strategic Factorial Indexing
126.96.36.199. Competitor Placement in MarkNtel Quadrant
6. UK Smart Water Meter Market Outlook (2017- 2025)
6.1. Market Potential & Outlook
6.1.1. Units Sold
6.1.2. Market Revenues
6.2. Market Segmentation & Outlook
6.2.1. By Type
6.2.2. By Technology
6.2.3. By End Users
7. Germany Smart Water Meter Market Outlook (2017-2025)
7.1. Market Potential & Outlook
7.1.1. Units Sold
7.1.2. Market Revenues
7.2. Market Segmentation & Outlook
7.2.1. By Type
7.2.2. By Technology
7.2.3. By End Users
8. France Smart Water Meter Market Outlook (2017-2025)
8.1. Market Potential & Outlook
8.1.1. Units Sold
8.1.2. Market Revenues
8.2. Market Segmentation & Outlook
8.2.1. By Type
8.2.2. By Technology
8.2.3. By End Users
9. Scandinavia Smart Water Meter Market Outlook (2017-2025)
9.1. Market Potential & Outlook
9.1.1. Units Sold
9.1.2. Market Revenues
9.2. Market Segmentation & Outlook
9.2.1. By Type
9.2.2. By Technology
9.2.3. By End Users
10. CIS + Russia Smart Water Meter Market Outlook (2017-2025)
10.1. Market Potential & Outlook
10.1.1. Units Sold
10.1.2. Market Revenues
10.2. Market Segmentation & Outlook
10.2.1. By Type
10.2.2. By Technology
10.2.3. By End Users
11. Central & Eastern Europe Smart Water Meter Market Outlook (2017-2025)
11.1. Market Potential & Outlook
11.1.1. Units Sold
11.1.2. Market Revenues
11.2. Market Segmentation & Outlook
11.2.1. By Type
11.2.2. By Technology
11.2.3. By End Users
12. Benelux Smart Water Meter Market Outlook (2017-2025)
12.1. Market Potential & Outlook
12.1.1. Units Sold
12.1.2. Market Revenues
12.2. Market Segmentation & Outlook
12.2.1. By Type
12.2.2. By Technology
12.2.3. By End Users
13. Europe Smart Water Meter Market Attractiveness Index, 2019- 2025
13.3.By End Users
14. Europe Smart Water Meter Market Trends & Developments
15. Europe Smart Water Meter Market Dynamics
16. Europe Smart Water Meter Market Winning Strategies, 2019
17. Europe Smart Water Meter Market Porter’s Five Forces Analysis
1. Europe Smart Meter Market Key Success Imperatives for Growth & Success
18. Competitive Benchmarking
18.1.1. Product Portfolio
18.1.2. Target Markets
18.1.3. Target End Users
18.1.4. Research & Development
18.1.5. Strategic Alliances
18.2.Company Profiles (Business Description, Product Offering, Strategic Alliances or Partnerships, etc.)
18.2.1. Arad Group
18.2.2. Diehl Metering Group
18.2.3. Honeywell Elster