The South & Central America smart water metering market was valued at US$ 214.61 million in 2023 and is expected to reach US$ 317.87 million by 2031; it is estimated to register a CAGR of 5.0% from 2023 to 2031.
The integration of smart water meters with the Internet of Things (IoT) and advanced data analytics platforms presents a significant opportunity for the growth of the smart water metering market. IoT-enabled smart meters collect real-time data on water usage, providing utilities with immediate insights into consumption patterns, system performance, and potential issues such as leaks or irregular usage. This seamless connectivity allows for remote monitoring, eliminating the need for manual meter readings and enabling more efficient management of water resources. Data analytics platforms enhance the value of this integration by processing the vast amounts of data generated by smart meters. These platforms can identify trends, forecast demand, detect anomalies, and optimize water distribution in real-time. For example, utilities can use predictive analytics to proactively address maintenance needs, reducing downtime and preventing costly repairs. Additionally, consumers can access personalized usage data through apps or online portals, empowering them to make informed decisions about water conservation and potentially lower their utility bills. This integration not only improves the operational efficiency of utilities but also promotes transparency and accountability. It offers a more sustainable approach to water management by reducing waste, enhancing resource allocation, and increasing customer satisfaction. As IoT and data analytics technologies continue to evolve, their role in optimizing smart water metering systems will become increasingly crucial in modern water management strategies.
The recent technological developments have had a direct impact on the economy of Brazil. A recent study says that due to the changing economic condition in South America, government enterprises, businesses, and consumers in the region are keen to implement and incorporate the upcoming technologies. The cost-savings advantage and higher work efficiency achieved are cited as the major attractive points in the region. Large infrastructural developments in South America have resulted in the growth of commercial complexes, shopping malls, hospitals, educational institutions, universities, and government offices. Universal supply of water is one of the most daunting challenges faced by the cities in South America, especially rural cities. Water basins, infrastructure, supply networks, and hydrology are among the critical aspects of proper water supply management. Almost 60% of the water is lost every year due to various reasons in the region. Less than half of the South American cities have proper water infrastructure to meet the demand for water in urban areas. The nonrevenue water in the region amounts to 40% of the total water supplied, which is another major issue faced by the water utilities. The growth in demand for water exposes the weakness of countries in the region in managing their water resources. In some countries, the immediate need to increase the water supply leaves no other option for political and industrial leaders but to invest in seawater desalination treatment plants.
The recent internet revolution in South America has accelerated growth in internet technologies. Several initiatives are being taken in South American countries for the rollout of smart water meter systems. Major public–private partnerships are being established by water utilities and municipal corporations operating in the region. Smart water meter is expected to be the enabling connectivity architecture between the consumers and water utility bodies. Telefonica, Huawei, and Kamstrup have successfully deployed smart water pilot project in Chile. It is the first instance in South America to combine real user data with NB-IoT. The project involves a telemetry solution for remote monitoring and management of domestic water meters. Itron, Zenner, Landis+Gyr, Kamstrup, and Sensus are among the leading players in the smart water metering market in South America. The players are contributing to market growth across the region.
The South & Central America smart water metering market is categorized into type, component, end user, meter type, and country.
Based on type, the South & Central America smart water metering market is bifurcated into AMI and AMR. The AMR segment held a larger market share in 2023.
In terms of component, the South & Central America smart water metering market is categorized into controlling unit, display storage & integrated software, and others. The display storage & integrated software segment held the largest market share in 2023.
By end user, the South & Central America smart water metering market is bifurcated into residential and industrial. The residential segment held a larger market share in 2023.
Based on meter type, the South & Central America smart water metering market is categorized into ultrasonic meters, electromagnetic meters, and electromechanical meter. The ultrasonic meters segment held the largest market share in 2023.
By country, the South & Central America smart water metering market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America smart water metering market share in 2023.
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., are among the leading companies operating in the South & Central America smart water metering market.