At 10.7% CAGR, Europe Smart Water Metering Market is Projected to be worth US$ 2,995.45 million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Europe smart water metering market was valued at US$ 1,331.12 million in 2023 and is expected to reach US$ 2,995.45 million by 2031, registering a CAGR of 10.7% from 2023 to 2031. Smart irrigation systems through smart water management and increasing number of smart water meter projects across different region are among the critical factors attributed to drive the Europe smart water metering market growth.

Smart irrigation or smart agriculture is a flourishing sector in certain countries due to the fact that the countries have sufficient agricultural land. However, they lack human labor and time for the conventional form of agriculture. Smart agriculture or smart irrigation systems involve the usage of several sensors, data loggers, and communication systems along with data platforms with which the operator can easily review the procedures. Pertaining to the trends mentioned above in the agriculture industry among North American and European countries and the upsurge in prices of individual sensors, data loggers, and other components, farmers or farming organizations implement smart water meters on the grounds. Smart metering technology can be integrated into irrigation systems to monitor and manage water consumption for landscape and agriculture. Smart irrigation controllers and sensors can help users optimize their water usage and avoid water waste. This can result in significant water conservation in regions where irrigation is a major water consumer. In addition, smart water meters benefit farmers or farming organizations by coupling all the individual components into one unit, which, in turn, reduces the upfront costs of the company. The meters facilitate farmer's or farming organizations' enhanced energy management, water usage, water conservation, and ultimately saving costs. The advantages of smart water meters in irrigation or agriculture are sensing the amount of water needed and spraying the required amount. It reduces time, minimizes human labor, and enhances accuracy, thereby resulting in high-quality crop yield. The technological advancements in water conservation are highly benefiting the agriculture industry in countries such as the US, Canada, Mexico, Germany, France, the UK, Italy, Australia, and others. The high adoption of smart technologies in irrigation is expected to bolster the growth of the smart water metering market in the coming years.

On the contrary, the high initial investment and lack of knowledge hamper the growth of Europe smart water metering market.

Based on type, the Europe smart water metering market is bifurcated into AMI and AMR. The AMR segment held 73.8% market share in 2023, amassing US$ 981.84 million. It is projected to garner US$ 2,051.92 million by 2031 to register 9.7% CAGR during 2023–2031.

In terms of component, the Europe smart water metering market is categorized into controlling unit, display storage & integrated software, and others. The display storage & integrated software segment held 41.5% share of Europe smart water metering market in 2023, amassing US$ 552.60 million. It is anticipated to garner US$ 1,310.17 million by 2031 to expand at 11.4% CAGR during 2023–2031.

By end user, the Europe smart water metering market is bifurcated into residential and industrial. The residential segment held 73.5% share of Europe smart water metering market in 2023, amassing US$ 978.35 million. It is projected to garner US$ 2,282.74 million by 2031 to expand at 11.2% CAGR from 2023 to 2031.

Based on meter type, the Europe smart water metering market is categorized into ultrasonic meters, electromagnetic meters, and electromechanical meter. The ultrasonic meters segment held 51.4% share of Europe smart water metering market in 2023, amassing US$ 684.01 million. It is predicted to garner US$ 1,602.59 million by 2031 to expand at 11.2% CAGR between 2023 and 2031.

Based on country, the Europe smart water metering market is categorized into Germany, France, Italy, the UK, Russia, Spain, Greece, and the Rest of Europe. Our regional analysis states that France captured 17.5% share of Europe smart water metering market in 2023. It was assessed at US$ 232.34 million in 2023 and is likely to hit US$ 502.28 million by 2031, registering a CAGR of 10.1% during 2023–2031.

Key players operating in the Europe smart water metering market are Kamstrup AS, Mueller Water Products Inc, Badger Meter Inc, Itron Inc, Arad Ltd, Sensus USA Inc, WAVIoT Integrated Systems LLC, Bmeters SRL, and Diehl Stiftung & Co KG., among others.

• In June 2023, Danish company Kamstrup, which manufactures system solutions for intelligent energy and water metering, has been awarded a major contract tendered (via an open tender procedure) by Bern-based energy and infrastructure enterprise BKW Energie AG. The contract comprises 404,000 OMNIPOWER electricity meters, complete with a head-end system.
• In October 2022, Itron Inc. announced a partnership with Severn Trent Water to digitally transform Warwickshire, England, into a smart water region. The collaboration includes the installation of 157,000 Itron smart water meters equipped with Cyble multi-connectivity communication modules connected through Itron's partner, Connexin, who is providing the LoRaWAN network.

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