India Smart Water Metering Market Research Report: Forecast (2024-30)

Market Definition

A smart water meter refers to a type of water meter that includes advanced technology such as sensors, communication modules, and data analytics software which allows real-time monitoring and analysis of water consumption. The smart water meter automatically measures and records the water usage which makes it easily accessible for to homeowners, or businesses. The main purpose for the development of smart water meters is to improve water efficiency, reduce waste, and enhance the sustainability of water resources by detecting leakage, identifying patterns of water usage, and optimizing water metering and conservation.

Market Insights & Analysis: India Smart Water Metering Market (2024-30):

The India Smart Water Metering Market is projected to grow at a CAGR of around 15% during the forecast period, i.e., 2024-30. The major factors attributing to market growth include the ever-growing need for water conservation in the country owing to gradually decreasing water availability as a result of climate change, urbanization, and rising population levels.

India comprises around 18% of the global population and only 4% of the world's freshwater resources. According to the report by NITI Ayog, the states of Maharashtra, Gujarat, Karnataka, Jharkhand, Andhra Pradesh, Rajasthan, Uttar Pradesh, Punjab, Delhi, Bengaluru, & Chennai have been facing severe water scarcity since 2019. Additionally, the increasing water wastage in the country due to leakage, overflow, overuse, and mismanagement has also alarmed the government for the wise consumption & supply of water across different sectors.

According to SPML Infra Ltd., in 2022, around 3.4 trillion liters of treated drinking water leaked from India's aged & outdated supply network. Average household leaks can account for nearly 45,500 liters of water being wasted each year, and 10% of homes have leaks that lead to 146,000 liters or more of waste yearly. Thus, the rising misuse & leakage of water in the country are pushing the need for the installation of smart water metering solutions across the country, leading to market growth.

Moreover, the Government of India has launched various initiatives toward achieving sustainability, like the Jal Jeevan Mission, Smart Cities Mission, etc., which includes the smart management & supply of water in households. Water efficiency implies less water consumption and searching for an alternative to conventional water meters in order to measure the quantity & quality of water. By installing smart water meters, residential, commercial, and industrial end users would be able to control, analyze, & reduce water consumption in their daily operational activities and, subsequently, spur growth in the India Smart Water Metering Market over the coming years.

India Smart Water Metering Market Driver:

Growing Need for Reducing Non-Revenue Water – For years, India has been facing the challenge of water leakage & non-revenue water, driven by the prevalence of aged & outdated water infrastructures, mismanagement, etc. According to the World Bank 2020, the average NRW (Non-Revenue Water) in India is about 38%, i.e., more than the global average NRW. The adoption of digital & advanced solutions like smart water metering has proven to be effective in reducing NRW & water losses, improving billing efficiency, increasing water conservation, and resource optimization, resulting in enhanced income generation for water utilities.

Additionally, the launch of various government initiatives such as the Smart Cities Mission. Atal Bhujal Yojana (ABHY), etc., has also pushed the demand for smart water metering solutions. In 2019, Pune Municipal Corporation (PMC) invested over 275,000 Sensus iPERL smart water meters to monitor, measure & manage activity across its network. It is the first city to implement a program aligned with the country’s Smart City Mission, thereby contributing to the growth of the Smart Water Metering Market in India.

India Smart Water Metering Market Opportunity:

Need for Replacement of Ageing Water Infrastructures to Create New Opportunities – Most of the water industry infrastructures in India have been outdated and deteriorating due to years of use, lack of maintenance, and the effects of natural wear & tear. This further leads to leakage and growth in non-revenue water in the country. Replacing aging infrastructures with modern systems like smart water metering that have improved leak detection mechanisms, accurate metering, and efficient distribution networks. Thus, smart water metering can reduce NRW and enhance revenue generation for water utilities.

The government of the country has been taking various initiatives to replace traditional infrastructure and overcome the challenges of water leakage, misuse, mismanagement, etc. According to the Ministry of Jal Shakti 2022, the government of India is also implementing the Repair, Renovation & Restoration (RRR) of water bodies scheme under the PMKSY (Pradhan Mantri Krishi Sinchayee Yojana). Hence, similar replacements of aging infrastructure in the commercial, industrial, and residential sectors would further generate the demand for smart water metering in the coming years and contribute to overall market growth.

India Smart Water Metering Market Challenge:

Technical Complexities and Infrastructure Limitations to Hinder Market Growth – The India Smart Water Metering Market has encountered various challenges, particularly regarding meters installed in basements or areas with weak signals, indicating limited network coverage. Though higher data collection and transmission frequency offers real-time information and flexibility, it also brings drawbacks like heightened energy consumption and, consequently, shorter battery life.

In addition, it pushes the need for more storage & processing capacity to cope with the rising data volumes. Many parts of India, especially rural areas, lack robust communication networks and supportive infrastructure for the seamless operation of smart water metering systems. Hence, limited network coverage and connectivity issues can hinder data transmission & real-time monitoring and, in turn, restrain the fledged growth of the India Smart Water Metering Market.

India Smart Water Metering Market Trend:

Emergence of Self-powered & Battery-Free Smart Water Meters – Self-powered and battery-free smart water meters are gaining traction in India. These innovative meters address the challenges associated with battery replacement & maintenance, offering long-term sustainability and reduced operational costs. These meters utilize energy harvesting technology to generate power from the water flow itself or other energy sources like light or vibration.

Some self-powered meters in the country use the kinetic energy of the water flowing through the meter to generate electricity, which is then captured & stored to power the meter's internal components, including the communication module and data collection system. Thus, owing to their sustainable characteristics, the growing prevalence of self-powered & battery-free smart water meters would bode well for the India Smart Water Metering Market in the coming years.

India Smart Water Metering Market (2024-30): Segmentation Analysis

The India Smart Water Metering Market study of MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment. It includes predictions for the period 2024-2030 at the national level. According to the analysis, the market has been further classified as:

Based on Components:

• Meters & Accessories

• IT Solutions
• Communications

Of them all, meters & accessories hold a prominent share of the India Smart Water Metering Market due to their constant need for monitoring & measuring water consumption levels. Smart meters equipped with sensors & communication technology are increasingly being used by industrial & residential end-users for transmitting real-time data about water consumption to a central monitoring system, which is then analyzed to optimize water usage & reduce waste. In addition, the government has been supporting smart water meter manufacturers to achieve sustainability and increase the adoption of smart water metering.

In 2022, the Ministry of State for Science and Technology announced funding of USD 411,822 to a start-up incubated at the Indian Institute of Technology, Kanpur for developing smart water management technologies. Hence, with the growing number of construction of residential & industrial infrastructures, backed by rising levels of water scarcity & non-revenue water, the demand for meter & accessories would grow notably in the coming years and, in turn, expected to augment the India Smart Water Metering Market.

Based on End-User:

• Residential

• Commercial
• Industrial
• Municipal

Amongst them, the commercial & industrial sector is estimated to acquire a considerable market share in the coming years. It owes principally to the increasing public & private investments in this sector for the country’s economic development. India has been experiencing huge foreign direct investment (FDI) inflows, which have led to the expansion of the commercial & industrial sectors.

For instance, according to the Economic Survey 2023, India received the highest-ever FDI of about USD 84.8 billion in the services sector in 2022. As a result, the country is witnessing ever-increasing construction activities associated with large-scale commercial spaces, thereby pushing the deployment of smart water metering solutions to cater to the growing requirements of efficient water supply across these infrastructures.

India Smart Water Metering Industry Recent Development:

• In 2022, SenRa and Cranberry Analytics entered into a partnership to digitize Panaji smart city’s water supply with the low-power network and ultrasonic smart water meters in India.

Gain a Competitive Edge with Our India Smart Water Metering Market Report

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