Market Trends of Water Meter Industry
Smart Water Meter to Witness Major Growth
- Smart water meters are devices that can measure and communicate water usage from various consumption points to the utility provider to facilitate proper billing and effective water management. Smart meters are usually equipped with sensors and an electronic computing unit (ECU) that facilitates communication between the meter and the supplier. Unlike mechanical water meters, these meters are more capable of tracking water usage through electromagnetic or ultrasonic technologies that provide more accurate measurements.
- Major features driving the adoption of smart water meters include the presence of an advanced metering infrastructure (AMI) system, which enables utility providers to remotely track real-time water consumption, along with other matrices, including flow and pressure anomalies. They can also locate vacancies and tampering, making them a highly effective solution to track losses caused by leaks. Smart water meters favor dynamic water billing, eliminating the need for manual supervision every month. They also support real-time, web-based metering to help utility providers automatically generate bills and share them with consumers within a specific time.
- Expanding water-stressed areas, especially in arid regions across the world along with treatment of waste water, For instance as of American Water invested 322 million USD in treatment and pumping for Waste Water, is driving the demand for smart water meters, as it is becoming important to track water consumption and reduce wastage of water. Several use cases also confirm the benefits of advanced technological solutions in reducing the issue of Non-Revenue Water (NRW).
- For instance, according to Manila Water, a major water supplier in the East Zone of Metro Manila, Philippines, the adoption of proactive technical solutions, including the reconfiguration of the network, meter management programs, accurate measurement of supply volumes, and the active supply and pressure management helped the company to reduce the NRW from 63% in 1997 to 12.69% in 2022, which is one of the lowest in Asia. Thus, technological improvements, social awareness, and the growing water crisis issue are expected to influence the market's growth positively.
- Smart meters also help in regulating water consumption owing to features such as IoT-enabled water flow meters, which come embedded with a valve that can be controlled remotely and provide real-time analytics about usage. Various surveys suggest a reduction in the range of 20-50% when smart water meters are installed within a facility.
- Smart water meters are also witnessing notable growth in the adoption of new technologies, helping expand the capability and use cases of these meters. For instance, Silicon Labs' Low Duty Cycle optimization and ingenious ultra-low power SoC design significantly enhance the operational life of smart water meters with ten years with a battery. Furthermore, the company also offers solutions such as proprietary wireless protocols sub-GHz Wi-SUN mesh to maximize the reach of smart water meters.
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Europe is Expected to Hold Significant Market Share
- The United Kingdom is anticipated to remain among the leading adopters of water meters in the European region, driven by several initiatives from the government and utility suppliers to drive efficiency and bring sustainability to the water supply industry. Furthermore, with the country facing an increased risk of drought, the National Infrastructure Commission recently urged to drive the deployment of advanced metering infrastructure (AMI) within the water industry to take control of water consumption, deliver enough demand reduction, and increase efficiency to improve the country's drought resilience.
- France has been among the early adopters of water meters, and several major vendors are present in France. For instance, Veolia, a major utility company, installed three million TéléO smart meters in France and Europe, including partnerships in Lyon and Ile-de-France. Similarly, the Suez group rolled out its version of water meters, ON'connect, in Dunkirk, Le Mans, and elsewhere. The country is also witnessing significant developments in the supporting infrastructure of smart water meters, which further support the growth of the market studied. For instance, in February 2023, Netmore, a Swedish IoT operator, started rolling out a LoRaWAN network in France, targeting smart water metering and other IoT and large-scale utility projects.
- Drought and water scarcity are among the rising concerns in Spain as, in recent years, a number of cities in Spain have started facing a water crisis. This drives the attention of utility suppliers and the government toward the adoption of major initiatives and technology for the better management of water. According to a recent report by the Ecological Transition Ministry, around 27% of Spain is experiencing droughts classified as "alert" or "emergency," as water reserves in the country are only at 50% of capacity nationally.
- Responding to such issues, in May 2023, the Spanish government approved a EUR 2.2 billion (~GBP 1.9 billion and ~USD 2.34 billion) plan to help consumers and farmers cope with an enduring drought exacerbated by the hottest and driest months. Apart from the investments, several initiatives are also being undertaken by the government and utility suppliers to encourage the consumers to follow the guidelines issued by related authorities and organizations to make the entire water conservation initiative a success. As water meters are considered one of the key technologies that help support such initiatives, the market studied is anticipated to witness positive growth.
- Germany has been among the significant marketplaces for water meters in the European region. The country has a robust water supply infrastructure, which has witnessed time-to-time upgrades, thereby creating opportunities in the market's landscape. For instance, according to the European Association of National Metrology Institutes (EURAMET), across the European region, Germany alone has about 45 million water meters installed, and they also represent a production value of almost EUR 1 billion (~USD 1.06 billion). Furthermore, with the consumer demand for convenient access to leakage detection and information about water usage growing, the uptake of smart water meters is anticipated to grow further in the country.
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