Asia Pacific Smart Water Metering Market - By Application (Residential, Commercial, Utility), By Technology (AMI, AMR), By Product (Hot Water Meter, Cold Water Meter) & Forecast, 2023 – 2032

Asia Pacific Smart Water Metering Market Size

Asia Pacific Smart Water Metering Market size was valued at USD 338.1 million in 2022 and is projected to grow at a CAGR of over 30.9% by 2032. The Asia Pacific region has seen a significant increase in the adoption of smart water metering systems. Governments and utility companies are increasingly recognizing the benefits of these systems in improving water management, reducing non-revenue water, and enhancing operational efficiency. Many countries in the Asia Pacific region face water scarcity issues, escalate the use of efficient water management solutions.
 

Smart water metering refers to the use of advanced technology and connectivity to monitor, measure, and manage water consumption in a more accurate and efficient manner. Smart water meters are devices that replace traditional water meters and provide real-time data on water usage, flow rates, and other relevant parameters. Governments and regulatory bodies in the region are implementing policies and mandates to encourage the deployment of smart water metering systems. These initiatives aim to improve water resource management, enhance billing accuracy, and reduce water losses. Supportive regulations and incentives boost the Asia Pacific smart water metering market growth.
 

Rapid urbanization and population growth in Asia Pacific cities have resulted in increased water demand and the need for improved water infrastructure. Smart water metering plays a crucial role in monitoring and managing water consumption in urban areas, ensuring efficient supply and distribution. The proliferation of the Internet of Things (IoT) and advancements in connectivity technologies impelled facilitated the deployment of smart water metering systems. Wireless communication networks and cloud-based data management platforms enable real-time monitoring, remote data collection, and analytics for effective water management.
 

The upfront cost of implementing smart water metering systems can be a significant barrier, especially for smaller utilities or water service providers with limited budgets. The cost includes not only the meters themselves but also the necessary communication infrastructure, data management systems, and ongoing maintenance expenses. Cost considerations can slow down the adoption of smart water metering, particularly in regions with limited financial resources.
 

The deployment of smart water metering systems may face challenges due to existing infrastructure limitations. In older buildings or areas with outdated water infrastructure, retrofitting or upgrading the infrastructure to support smart meters can be complex and costly. Lack of reliable communication networks or connectivity in remote or rural areas can also hinder the implementation of smart water metering. However, overcoming cost barriers, strengthening infrastructure, enhancing data security measures, and fostering consumer engagement are essential steps towards wider adoption and successful implementation of smart water metering.
 

Impact of COVID-19 on Asia Pacific Smart Water Metering Market

The pandemic has led to disruptions in supply chains, logistics, and workforce availability, which have slowed down the implementation and installation of smart water metering projects. Restrictions on movement and social distancing measures have affected on-site activities, including meter installations and infrastructure upgrades. Uncertainty caused by the pandemic has resulted in delayed decision-making by utilities and water management authorities. Many organizations have postponed investment decisions or reallocated resources to address immediate pandemic-related challenges, temporarily slowing down the adoption of smart water metering.
 

The pandemic has underscored the importance of resilient water infrastructure. Governments and utilities in the Asia Pacific region are increasingly recognizing the need for advanced water management systems, including smart water metering, to enhance resilience and ensure reliable water supply during emergencies. This recognition may support future investments in smart water metering as part of broader water infrastructure resilience strategies.
 

Asia Pacific Smart Water Metering Market Trends

Many utilities and water management agencies across the Asia Pacific region are investing in modernizing their infrastructure and adopting digital technologies. Smart water metering is a key component of these initiatives, enabling data-driven decision-making, leak detection, and efficient customer service. The integration of data analytics and artificial intelligence (AI) technologies is gaining prominence in the smart water metering market. These technologies enable advanced data processing, anomaly detection, predictive maintenance, and optimization of water distribution systems. The deployment of smart water metering systems aligns with the broader smart city initiatives in the region.
 

Smart water metering is interconnected with other urban infrastructure systems, such as smart grids, smart buildings, and smart transportation, to create integrated and sustainable urban ecosystems. Many countries in the Asia Pacific smart water metering market face water scarcity challenges due to population growth, urbanization, and climate change. Smart water metering enables efficient water resource management by providing accurate and real-time data on water consumption, enabling utilities and consumers to monitor and conserve water resources effectively. The need to upgrade and modernize water infrastructure is driving the adoption of smart water metering systems. Aging water infrastructure in many countries requires replacement or retrofitting with advanced technologies to enhance efficiency, accuracy, and sustainability in water management.
 

Asia Pacific Smart Water Metering Market Analysis

Based on application, the Asia Pacific smart water metering market is segmented as residential, commercial, and utility. The sector reached USD 170 billion in 2022. The residential smart water metering market has experienced significant growth, propelled by increasing awareness of water conservation, advancements in technology, and regulatory support. Homeowners and property managers are recognizing the benefits of smart water metering in accurately monitoring and managing water consumption. Growing concerns about water scarcity and environmental sustainability have led to the implementation of water conservation initiatives by governments, utilities, and environmental organizations. Smart water metering systems provide homeowners with real-time data on water usage, enabling them to identify water wastage, detect leaks, and modify their consumption behavior to conserve water.
 

Based on technology, the Asia Pacific smart water metering market is segmented as AMI and AMR. The AMI market is set to witness a growth rate of more than 32% between 2023 and 2032. AMI meters provide utilities with real-time and accurate data on energy consumption, enabling precise billing and revenue protection. The elimination of estimated billing and the ability to monitor energy usage patterns and detect anomalies helps utilities reduce revenue losses and improve billing accuracy. AMI meters support demand response programs that incentivize consumers to shift their energy usage during peak hours. The ability to remotely communicate with AMI meters enables utilities to implement time-of-use pricing and effectively manage demand fluctuations, leading to improved grid reliability and reduced energy costs.
 

Based on product, the Asia Pacific smart water metering market is segmented as hot water meter and cold water meter. The cold water segment held approximately 86% of the market share in 2022. The adoption of smart cold water meters is on the rise. Smart meters offer real-time monitoring and accurate measurement of water consumption, allowing consumers and utilities to identify water wastage, detect leaks, and promote water conservation. The integration of smart technologies, such as wireless communication and data analytics, is augmenting the growth of smart cold water meters.
 

Growing concerns about water scarcity and sustainability are rising the demand for cold water meters. These meters enable consumers to monitor their water usage, identify inefficiencies, and take proactive measures to conserve water. Utilities are also leveraging cold water meter data to implement water management strategies and conservation programs.
 

China capture about 45% share of the Asia Pacific smart water metering market in 2022. The Chinese government has implemented several initiatives and policies to foster the adoption of smart water metering. These initiatives aim to improve water resource management, enhance water conservation, and promote the development of a smart water industry. The government has set targets for the installation of smart water meters in both urban and rural areas, creating a favorable environment for market growth. The country's rapid urbanization has led to increased demand for efficient water management.
 

Smart water metering solutions provide accurate measurement, real-time monitoring, and leak detection capabilities, helping utilities manage water distribution systems more effectively. The need to address water scarcity, reduce non-revenue water, and improve water efficiency is driving the adoption of smart water metering in urban areas. Water scarcity is a significant concern in China, particularly in regions facing water stress. Smart water metering enables consumers and utilities to monitor water usage in real-time, identify wasteful consumption patterns, and promote water conservation. Water-saving initiatives and water pricing reforms further incentivize the adoption of smart water meters.
 

Asia Pacific Smart Water Metering Market Share

Some of the key market players operating across the Asia Pacific smart water metering market are:

• Diehl Stiftung & Co. KG
• Siemens
• Landis+Gyr
• Honeywell International Inc
• kamstrup
• Itron Inc
• Sontex SA
• Sensus
• Arad Group
• ZENNER International GmbH & Co. KG
•  Ningbo Water Meter Co., Ltd
• Schneider Electric
• Aclara Technologies LLC.
   

Major manufacturers across the Asia Pacific region are inclined toward mergers & acquisitions, strategic collaborations, partnerships, and joint ventures to further gain a competitive advantage in the market.
 

Asia Pacific Smart Water Metering Market News:

• In December 2022, kamstrup was awarded a contract from Silkeborg Forsyning for the supply of 40,000 new heat and water meters. Silkeborg Forsyning has implemented a future-proof solution for reading heat and water consumption by combining new meters from Kamstrup with a new communication network. While Silkeborg Forsyning purchases the meters from Kamstrup, they do not own the communication network that transfers data from the meters to the collection system. Instead, Silkeborg Forsyning pays a license fee to utilize the existing network owned by Kamstrup.
   

This Asia Pacific smart water metering market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume & revenue in ‘000 Units & USD Million from 2019 to 2032, for the following segments:

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By Application

• Residential
• Commercial
• Utility

By Technology

• AMI
• AMR

By Product

• Hot Water Meter
• Cold Water Meter

The above information is provided for the following regions and countries:

• China
• Japan
• South Korea
• India
• Australia