At 5.8% CAGR, Middle East & Africa Smart Water Metering Market is Projected to be worth US$ 124.31 million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Middle East & Africa smart water metering market was valued at US$ 79.14 million in 2023 and is expected to reach US$ 124.31 million by 2031, registering a CAGR of 5.8% from 2023 to 2031. Increasing water scarcity and misuse of water and increase in demand for smart water meters with rise in smart city initiatives are among the critical factors attributed to drive the Middle East & Africa smart water metering market growth.

Practices such as illegal tapping, tampering with pipelines, leakage, and others cause water scarcity. According to the World Wildlife Fund (WWF), ∼ 1.1 billion individuals across the world lack access to water, resulting in 2.7 billion finding water scarce. According to UNESCO, the global urban population confronting water scarcity is expected to quadruple from 930 million people in 2016 to 1.7–2.4 billion by 2050. Also, the increasing frequency of extreme and persistent droughts is pressuring ecosystems, with disastrous repercussions for plant and animal species. Furthermore, another major issue faced by various regions is the misuse of water, which has significantly increased the demand for advanced solutions to maintain the consumption pattern from source to destination. The significant demand for an advanced solution has led to the development and implementation of smart water meters, as they can monitor consumption patterns and monitor leakage, theft, and illegal tampering. Smart water meters are equipped with wired or wireless devices that are integrated with data management programs, which enable the user or operator to examine/check the consumption pattern. Technological advancements in the field of water conservation can help in fighting water scarcity. Thus, various governments of developed and developing regions across the world are constantly increasing their desire to adopt these robust technologies to provide enough water to the public. Additionally, numerous private organizations are striving to implement technologically advanced smart water management systems to address water scarcity issues across the globe. Therefore, increasing water scarcity and misuse propels the demand for proper maintenance of water consumption patterns, which bolsters the adoption of smart water meters.

On the contrary, the high initial investment and lack of knowledge hamper the growth of Middle East & Africa smart water metering market.

Based on type, the Middle East & Africa smart water metering market is bifurcated into AMI and AMR. The AMR segment held 79.4% market share in 2023, amassing US$ 62.80 million. It is projected to garner US$ 91.78 million by 2031 to register 4.9% CAGR during 2023–2031.

In terms of component, the Middle East & Africa smart water metering market is categorized into controlling unit, display storage & integrated software, and others. The display storage & integrated software segment held 43.0% share of Middle East & Africa smart water metering market in 2023, amassing US$ 34.06 million. It is anticipated to garner US$ 56.15 million by 2031 to expand at 6.4% CAGR during 2023–2031.

By end user, the Middle East & Africa smart water metering market is bifurcated into residential and industrial. The residential segment held 77.6% share of Middle East & Africa smart water metering market in 2023, amassing US$ 61.42 million. It is projected to garner US$ 99.30 million by 2031 to expand at 6.2% CAGR from 2023 to 2031.

Based on meter type, the Middle East & Africa smart water metering market is categorized into ultrasonic meters, electromagnetic meters, and electromechanical meter. The ultrasonic meters segment held 51.2% share of Middle East & Africa smart water metering market in 2023, amassing US$ 40.49 million. It is predicted to garner US$ 65.95 million by 2031 to expand at 6.3% CAGR between 2023 and 2031.

Based on country, the Middle East & Africa smart water metering market is categorized into South Africa, Saudi Arabia, the UAE, Egypt, West Africa, and the Rest of Middle East & Africa. Our regional analysis states that Saudi Arabia captured 28.8% share of Middle East & Africa smart water metering market in 2023. It was assessed at US$ 22.81 million in 2023 and is likely to hit US$ 34.14 million by 2031, registering a CAGR of 5.2% during 2023–2031.

Key players operating in the Middle East & Africa 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, and Diehl Stiftung & Co KG., among others.

• In May 2021, Mueller Water Products Inc, in collaboration with Ferguson Waterworks, announced the deployment of LoRaWAN Class B endpoints I Florence. The solution offers flexibility and easy integration of remote disconnect meters (RDM), leak detection and pressure monitoring systems.
• In January 2021, Badger Meter, Inc. acquired Analytical Technology, Inc., a water quality monitoring systems provider, for US$ 44 million. The acquisition is expected to augment the company's smart water offerings by integrating advanced technologies like flow measurement, temperature, pressure and water-quality systems.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com