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Europe Smart Water Meter Market Size

Report ID: GMI5121
Published Date: Jun 2024
Report Format: PDF

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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.

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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 Report Attributes
Report Attribute	Details
Base Year:	2023
Europe Smart Water Meter Market Size in 2023:	USD 1.3 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	27.7%
2032 Value Projection:	USD 12.4 Billion
Historical Data for:	2021 - 2023
No. of Pages:	60
Tables, Charts & Figures:	10
Segments covered:	Application, Technology, Product
Growth Drivers:	Non-revenue water (NRW) monitoring and control Ongoing inclination toward intelligent systems in the water sources Government regulations & directives
Pitfalls & Challenges:	Privacy and cyber security concerns

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Authors: Ankit Gupta, Riya Gupta

Frequently Asked Questions (FAQ) :

The market size of Europe smart water meter was reached USD 1.3 billion in 2023 and is anticipated to grow at 27.7% CAGR during 2024 to 2032, attributed to stringent regulatory frameworks and directives, mandating efficient water management practices.

The residential segment of Europe smart water meter market is expected to exceed USD 6 billion by 2032, fueled by the increasing adoption of smart home technologies and government initiatives for energy efficiency.

The UK smart meter market is projected to surpass USD 2.3 billion by 2032, driven by government initiatives aimed at enhancing energy efficiency and reducing carbon emissions are major contributors.

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 among others.