Smart Water Meter Market Size

Smart Water Meter Market Size

Smart Water Meter Market was valued at USD 2.6 billion in 2023 and is likely to grow at a CAGR of 27.5% from 2024 to 2032, due to the rising need for efficient water management, and advancements in technology. Governments and utility companies are adopting smart meters to reduce water wastage, detect leaks, and provide accurate billing. These systems offer real-time monitoring and data analytics, enabling better resource management and conservation efforts.

Additionally, the integration of IoT and AI technologies enhances the functionality and reliability of these meters. Growing urbanization and the demand for sustainable infrastructure further drive market expansion. Regulatory mandates and incentives for smart water management also contribute to the rising adoption of smart water meters globally.