The ‘Europe Smart Water Meter Market Size, Share, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the Europe smart water meter market, assessing the market on the basis of its segments like meter type, technology, end use and major country.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Europe Smart Water Meter Market Price, Share, Size, Growth, Trends, Industry Report, Key Player, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 8.60%
The need for smart water metres is being supported by the capability of such measuring devices for monitoring usage of water resources and potential leaks. The urgent need for efficient water use in areas with limited water resources is driving the adoption of smart water metres, aiding the Europe smart water meter market. A study by the European Environment Agency (EEA) found that 30% of people in Europe face water stress on a yearly average. It is projected that droughts would occur more frequently and be more severe as a result of climate change.
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To reduce Non-Revenue Water (NRW) wastage, ensure billing accuracy, and lower carbon footprint, metering systems include a water metre, an electric metre, and a control unit. Due to the increased need for data processing, control, and measurement, these are widely employed in many different fields.
The market for smart water metres is anticipated to experience revenue growth as a result of rising attention being paid to cutting non-revenue water, the necessity for accurate billing systems, and growing demand for optimum water consumption. Growing demand for water measuring equipment in the manufacturing, automotive, and construction industries is anticipated to fuel Europe smart water meter market growth leading to an increasing need for water metres for billing water in industrial and commercial sectors.
Europe Smart Water Meter Industry Definition and Major Segments
Water utilities typically utilise smart water metres to remotely monitor water inflow and usage via wireless communication and IoT-enabled platforms. Compared to conventional metres, they provide users and service providers with more advantages, such as increased data precision and accuracy. They also aid in locating leaks and excessive water use.
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Based on meter type, the market is segmented into:
• Electromagnetic Meter
• Ultrasonic Meter
• Mechanical Meter
On the basis of technology, the market is bifurcated into:
Based on end use, the market is segmented into:
On the basis of country, the market is divided into:
• United Kingdom
Europe Smart Water Meter Market Trends
Increasing investments in large-scale installations of smart water metre technology across service networks, water transmission infrastructure, and expanding water distribution networks are the key trends driving the Europe smart water meter market. In addition, a number of market players are working towards developing advanced smart water management systems in order to address the issue of water scarcity. As a result, the market for smart water metres is being supported by the need to manage optimal water usage patterns and this trend is anticipated to continue in the future.
Consumers with smart water metres have a significant advantage over those who use regular water metres since they are able to gather more precise data about their water usage and save money by reducing water waste. Smart water metres are becoming more popular due of these benefits, which is further accelerating the Europe smart water meter market demand.
Within Europe, it is projected that Germany, France, the United Kingdom, and Italy will become significant countries in the smart water meter market due to increased administrative attention and expanding activities by the governments in the region for water metre subsidies. Over the forecast period, the smart water metres market in the United Kingdom is expected to expand quickly.
Key Market Players
The major players in the Europe smart water meter market report are:
- WATERTECH S.p.A.
- Badger Meter, Inc.
- Landis+Gyr AG
- ZENNER International GmbH & Co. KG
- Sensus, (a Xylem brand)
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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