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Commercial Smart Water Meter Market Size

Report ID: GMI10631
Published Date: Aug 2024
Report Format: PDF

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Commercial Smart Water Meter Market Size

Commercial Smart Water Meter Market was valued at USD 700 million in 2023 and is anticipated to grow at a CAGR of 21.2% from 2024 to 2032, on account of increasing concerns about water conservation and sustainability, driving businesses to adopt smart meters to monitor and manage water usage more efficiently. Smart meters provide real-time data on consumption, leaks, and inefficiencies, allowing businesses to identify and address issues promptly. Additionally, advancements in technology have made smart meters more accurate, reliable, and cost-effective, making them an attractive investment for businesses seeking to reduce operational costs and improve resource management.

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Regulatory mandates and incentives promoting the adoption of smart water meters further fuel market growth, as businesses strive to comply with regulations and capitalize on available incentives. For instance, in March 2023, Legislation has been enacted in Oxford mandating the installation of smart water meters citywide. Participation in this initiative is obligatory, as residents are unable to opt out of the installation or modification of their current meters.

Commercial Smart Water Meter Market Report Attributes
Report Attribute	Details
Base Year:	2023
Commercial Smart Water Meter Market Size in 2023:	USD 700 Million
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	21.2%
2032 Value Projection:	USD 4.3 Billion
Historical Data for:	2021 - 2023
No. of Pages:	110
Tables, Charts & Figures:	15
Segments covered:	Technology, Product
Growth Drivers:	Ongoing inclination towards intelligent systems in water resources Effective monitoring of consumption patterns
Pitfalls & Challenges:	Privacy and cyber security concerns

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Authors: Ankit Gupta, Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The market size of commercial smart water meter was worth over USD 700 million in 2023 and will grow at 21.2% CAGR between 2024 and 2032, due to increasing water scarcity, the need for efficient water management, and growing emphasis on sustainability and conservation.

Commercial smart water meter market from the cold-water meter segment will witness 21% CAGR through 2032, driven by widespread use and essential role in monitoring water consumption in various commercial settings.

Europe commercial smart water meter industry will surpass USD 2.5 million by 2032, attributed to advanced infrastructure and strong regulatory frameworks promoting efficient water management.

Aclara Technologies LLC., Apator S.A., Arad Group, Badger Meter, Inc., Diehl Stiftung & Co. KG, Honeywell International Inc., Itron Inc., Neptune Technology Group Inc., Ningbo Water Meter Co., Ltd., Schneider Electric, Siemens, and ZENNER International GmbH & Co. KG, among others.