Europe Smart Water Meter Market Analysis

Europe Smart Water Meter Market Analysis

To get key market trends

  Download Free Sample

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.