Europe Smart Water Meter Market Size - By Application (Residential, Commercial, Utility), By Technology (AMI, AMR), By Product (Hot Water Meter, Cold Water Meter), & Forecast, 2024 - 2032

Europe Smart Water Meter Market Size

Europe Smart Water Meter Market Size in 2023 was valued at USD 1.3 billion and is anticipated to grow at a CAGR of 27.7% by 2032. Stringent regulatory frameworks and directives such as EU Directives 2006/32/EC and REGULATION (EU) 2016/679 (General Data Protection Directive) mandate efficient water management practices, promoting the adoption of smart metering solutions. The rising concern over non-revenue water (NRW) and the need for accurate billing drive the demand for advanced metering infrastructure (AMI) and automatic meter reading (AMR) technologies. Ongoing urbanization and infrastructure development across European countries necessitate modernization of water distribution systems, enhancing the deployment of smart water meters.
 

Moreover, technological advancements in IoT and data analytics are facilitating real-time monitoring of water consumption patterns, enabling utilities to optimize operations and enhance service delivery. Governments and regulatory bodies in Europe are actively promoting initiatives to reduce water consumption and improve water resource management. Smart water meters play a crucial role in this context by providing accurate data on water usage, enabling consumers and utilities to identify inefficiencies, leaks, and wastage promptly.
 

Europe Smart Water Meter Market Trends

The smart water meter market in Europe is experiencing notable trends driven by increasing environmental awareness, regulatory requirements for efficient water management, and technological advancements. Governments and utilities across the region are prioritizing the adoption of smart water meters to enhance water conservation efforts, reduce non-revenue water losses, and improve operational efficiency. Government directives and nationwide rollouts play a pivotal role in driving the deployment of smart metering systems across the Europe. An illustrative example is the UK-based Affinity Water, which launched the 'AMP7' initiative in 2020. This five-year program aims to implement advanced water metering systems nationwide, with completion expected by 2025, highlighting the proactive efforts of policymakers and utilities to enhance water management through extensive smart meter installations.
 

Europe Smart Water Meter Market Analysis

Based on application, the residential segment is expected to exceed USD 6 billion by 2032, fueled by the increasing adoption of smart home technologies and government initiatives for energy efficiency. Smart water meters offer real-time water usage data, empowering consumers to make informed decisions and reduce utility costs. This growth reflects a broader trend towards enhanced water management and sustainability in households across Europe, driven by both technological advancements and policy support.
 

Based on technology, the automated meter reading (AMI) segment is expected to achieve a CAGR of 31% through 2032, due to its capability for real-time data monitoring and analysis, which enhances efficient water consumption management. AMI enables two-way communication between the water meter and the utility's central system, allowing for remote reading, troubleshooting, and even remote shut-off when necessary. This advanced technology supports proactive maintenance and better resource management, making it a key driver in the growth and adoption of smart water meters across Europe.
 

The UK smart meter market is expected to exceed USD 2.3 billion by 2032. Government initiatives aimed at enhancing energy efficiency and reducing carbon emissions are major contributors, as they encourage widespread adoption of smart meters. For instance, the revised draft water resources management plans for England, drafted by the government and Ofwat in June 2023, propose extensive smart metering programs. These include installing smart meters in unmetered homes, new homes, and upgrading existing meters. The goal is to achieve 48% smart meter coverage by 2030, 73% by 2040, and 76% by 2050. Additionally, the growing consumer demand for real-time energy usage data and the benefits of cost savings on utility bills are boosting market growth.
 

Europe Smart Water Meter Market Share

Kamstrup is a significant player in the European smart water meter market, known for its innovative metering solutions and advanced data analytics. The company provides cutting-edge smart meters that enable real-time monitoring and efficient water management, helping utilities reduce water loss and improve billing accuracy. Kamstrup's strong commitment to sustainability and continuous technological advancement has solidified its market position, making it a preferred choice for smart water metering solutions across Europe.
 

Europe Smart Water Meter Market Companies

• Apator S.A
• Arad Group
• Badger Meter, Inc.
• BMETERS Srl
• Diehl Stiftung & Co. KG
• Honeywell International Inc.
• Itron Inc.
• Kamstrup
• Landis+Gyr
• Ningbo Water Meter Co., Ltd
• Siemens
• Sensus
• Sontex SA
• ZENNER International GmbH & Co. KG
   

Europe Smart Water Meter Industry News

• In January 2023, Diehl Metering presented IZAR Smart Water, supporting feasible water management. It gives users a 360-degree view of their water network and provides data-driven solutions to Non-Revenue Water (NRW) issues. To provide a comprehensive overview of the system’s operation, the solution makes use of a collection of metrics from billing, SCADA, and meter data management systems.
   
• In December 2020, Kamstrup signed a contract with PHYSEC GmbH, an IoT firm, to develop a LoRaWan compatible digital water meter, which was launched in 2021 in Germany. The meter includes advanced security mechanisms and LoRaWAN communication technology, developed by both the companies. LoRaWAN communication technology was also tested in a pilot project involving 400 water meters in the German city of Gelsenkirchen. Kamstrup started installing the first 25,000 water meters from the start of 2022.
   

This Europe smart water meter market research report includes in-depth coverage of the industry with estimates & forecast in terms of “’000 Units” & “USD Million” from 2021 to 2032, for the following segments:

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Market, By Application

• Residential
• Commercial
• Utility

Market, By Technology

• AMI
• AMR

Market, By Product

• Hot Water Meter
• Cold Water Meter

The above information has been provided for the following countries across the region:

• Germany
• Sweden
• Russia
• Italy
• UK
• Spain