North America Smart Water Metering Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Automatic Meter Reader and Advanced Metering Infrastructure), Component (Controlling Units, Display Storage & Integrated Software, and Others), Application (Residential and Industrial), and Meter Type (Ultrasonic Meters, Electromagnetic Meters, and Electromechanical Meters)
The North America smart water metering market is expected to grow from US$ 1,400.59 million in 2022 to US$ 2,528.28 million by 2028. It is estimated to grow at a CAGR of 10.3% from 2022 to 2028.
Increasing Water Scarcity and Misuse of Water is Driving the Smart Water Metering Market
The world is facing a huge scarcity of water owing to practices such as illegal tapping, tampering of pipelines, and leakage, among others. Owing to this, water scarcity is rapidly increasing in the current scenario and the issue is anticipated to increase in the near future. According to WWF (World Wildlife Fund), approximately 1.1 billion people globally lack access to water, totaling to 2.7 billion find water scarce. In addition to this, another major problem faced by various regions is the misuse of water which has significantly raised the demand for advanced solutions to maintain the consumption pattern from the source to destination. The substantial demand for an advanced solution has led to development and implementation of smart water meters, which are capable of monitoring the consumption pattern along with supervising and recording the leakage, theft, and illegal tampering. The smart water meters are wired or wireless mechanisms, integrated with data management programs through which the user or operators are able to review/check the consumption pattern. The technological advancements in the field of water conservation are a major progress to fight water scarcity. Various governments of developed and developing regions across the globe are constantly increasing their interest in adopting these robust technologies to provide an adequate quantity of water to the mass. In addition, various private organizations are also striving hard to implement technologically enriched smart water management systems to cope up with water scarcity problems across the globe. Thus, water scarcity and demand for proper maintenance of water consumption pattern is increasing the adoption of smart water meters thereby bolstering the market for smart water meter and this trend is to foresee to continue in the future.
Smart Water Metering Market Overview
North America comprises the US, Canada, and Mexico. The US is a developed country in terms of modern technology, the standard of living, infrastructure, and many others. Also, affordability concerns regarding the development of water infrastructures have reached a critical stage. The US Environmental Protection Agency (EPA) manages two State Revolving Fund programs — the Clean Water State Revolving Fund (CWSRF) and the Drinking Water State Revolving Fund (DWSRF). In addition, DWSRF is co-funded by the federal and state government, with 80% and 20%, respectively. Furthermore, the water industry’s investors have focused on opportunistic upgrades—primarily to support smart-meter installation and data collection and visualization rather than full network optimization. Governments in the region continue to take measures to reduce unyielding water usage and undergo modernization and to replace older water meters with avant-garde smart water meters, which is becoming major trends in the region.
North America Smart Water Metering Market Revenue and Forecast to 2028 (US$ Million)
North America Smart Water Metering Market Segmentation
The North America smart water metering market is segmented into type, component, application, and meter type, and country.
On the basis of type, the North America smart water metering market has been segmented into advanced metering infrastructure and automatic meter reader. The automatic meter reader segment registered the largest market share in 2022.
On the basis of component, the smart water metering market has been segmented into controlling units, display/storage and integrated software, and others. The display/storage and integrated software segment held a larger market share in 2022.
On the basis of application, the North America smart water metering market has been segmented into residential and industrial. The residential segment held the largest market share in 2022.
On the basis of meter type, the North America smart water metering market has been segmented into ultrasonic meters, electromagnetic meters, and electromechanical meters. Ultrasonic meters segment held the largest market share in 2022.
Based on country, the North America smart water metering market is segmented into the US, Canada, and Mexico. The US dominated the market share in 2022.
Arad Ltd; Badger Meter Inc; Bmeters SRL; Diehl Stiftung & Co KG; Itron Inc; Kamstrup AS; Mueller Water Products Inc; Neptune Technology Group Inc; Sensus USA Inc; WAVIoT Integrated Systems LLC are the leading companies operating in the North America smart water metering market.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Smart Water Metering Market Landscape
4.1 Market Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Smart Water Metering Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Water Scarcity and Misuse of Water
5.1.2 Non-revenue Water Monitoring and Control Generating the Demand for Smart Water Meters
5.1.3 Increasing Number of Smart Water Meter Projects
5.2 Market Restraints
5.2.1 High Initial Investment and Lack of Knowledge
5.2.2 Vulnerable to Cyber Attacks
5.3 Opportunity
5.3.1 Smart Irrigation Systems through Smart Water Management
5.4 Future Trend
5.4.1 Increase in demand for Smart Water Meters with the Increase in Smart City Initiatives
5.5 Impact Analysis of Drivers and Restraints
6. Smart Water Metering Market – North America Market Analysis
6.1 North America Smart Water Metering Market Overview
6.2 North America Smart Water Metering Market Forecast and Analysis
7. North America Smart Water Metering Market Analysis – By Type
7.1 Overview
7.2 North America Smart Water Metering Market, by Type (2021 & 2028)
7.3 Advanced Metering Infrastructure
7.3.1 Overview
7.3.2 Advanced Metering Infrastructure: North America Smart Water Metering Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Automatic Meter Reader
7.4.1 Overview
7.4.2 Automatic Meter Reader: North America Smart Water Metering Market – Revenue and Forecast to 2028 (US$ Million)
8. North America Smart Water Metering Market Analysis – By Component
8.1 Overview
8.2 North America Smart Water Metering Market, by Component (2021 & 2028)
8.3 Controlling Units
8.3.1 Overview
8.3.2 Controlling Units: North America Smart Water Metering Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Display, Storage & Integrated Software
8.4.1 Overview
8.4.2 Display, Storage & Integrated Software: North America Smart Water Metering Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: North America Smart Water Metering Market – Revenue and Forecast to 2028 (US$ Million)
9. North America Smart Water Metering Market Analysis – By Application
9.1 Overview
9.2 North America Smart Water Metering Market, by Application (2021 & 2028)
9.3 Residential
9.3.1 Overview
9.3.2 Residential: North America Smart Water Metering Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Industrial
9.4.1 Overview
9.4.2 Industrial: North America Smart Water Metering Market – Revenue and Forecast to 2028 (US$ Million)
10. North America Smart Water Metering Market Analysis – By Meter Type
10.1 Overview
10.2 North America Smart Water Metering Market, by Meter Type (2021 & 2028)
10.3 Ultrasonic Meter
10.3.1 Overview
10.3.2 Ultrasonic Meter: North America Smart Water Metering Market – Revenue and Forecast to 2028 (US$ Million)
10.4 Electromagnetic Meter
10.4.1 Overview
10.4.2 Electromagnetic Meter: North America Smart Water Metering Market – Revenue and Forecast to 2028 (US$ Million)
10.5 Electromechanical Meter
10.5.1 Overview
10.5.2 Electromechanical Meter: North America Smart Water Metering Market – Revenue and Forecast to 2028 (US$ Million)
11. North America Smart Water Metering Market – Country Analysis
11.1 Overview
11.1.1 North America: Smart Water Metering Market, by Key Country
11.1.1.1 US: Smart Water Metering Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.1.1 US: Smart Water Metering Market, by Type
11.1.1.1.2 US: Smart Water Metering Market, by Component
11.1.1.1.3 US: Smart Water Metering Market, by Application
11.1.1.1.4 US: Smart Water Metering Market, by Meter Type
11.1.1.2 Canada: Smart Water Metering Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.2.1 Canada: Smart Water Metering Market, by Type
11.1.1.2.2 Canada: Smart Water Metering Market, by Component
11.1.1.2.3 Canada: Smart Water Metering Market, by Application
11.1.1.2.4 Canada: Smart Water Metering Market, by Meter Type
11.1.1.3 Mexico: Smart Water Metering Market – Revenue and Forecast to 2028 (US$ Million)
11.1.1.3.1 Mexico: Smart Water Metering Market, by Type
11.1.1.3.2 Mexico: Smart Water Metering Market, by Component
11.1.1.3.3 Mexico: Smart Water Metering Market, by Application
11.1.1.3.4 Mexico: Smart Water Metering Market, by Meter Type
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Product Development
12.4 Mergers & Acquisitions
13. Company Profiles
13.1 Kamstrup AS
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Mueller Water Products Inc
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Badger Meter Inc
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Itron Inc
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Neptune Technology Group Inc
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Arad Ltd
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Sensus USA Inc
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 WAVIoT Integrated Systems LLC
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Diehl Stiftung & Co KG
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. North America Smart Water Metering Market, Revenue and Forecast, 2020–2028 (US$ Million)
Table 2. US: Smart Water Metering Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 3. US: Smart Water Metering Market, by Component – Revenue and Forecast to 2028 (US$ Million)
Table 4. US: Smart Water Metering Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 5. US: Smart Water Metering Market, by Meter Type – Revenue and Forecast to 2028 (US$ Million)
Table 6. Canada: Smart Water Metering Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 7. Canada: Smart Water Metering Market, by Component – Revenue and Forecast to 2028 (US$ Million)
Table 8. Canada: Smart Water Metering Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 9. Canada: Smart Water Metering Market, by Meter Type – Revenue and Forecast to 2028 (US$ Million)
Table 10. Mexico: Smart Water Metering Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 11. Mexico: Smart Water Metering Market, by Component – Revenue and Forecast to 2028 (US$ Million)
Table 12. Mexico: Smart Water Metering Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 13. Mexico: Smart Water Metering Market, by Meter Type – Revenue and Forecast to 2028 (US$ Million)
Table 14. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Smart Water Metering Market Segmentation
Figure 2. North America Smart Water Metering Market Segmentation – Country
Figure 3. North America Smart Water Metering Market Overview
Figure 4. North America Smart Water Metering Market, by Type
Figure 5. North America Smart Water Metering Market, by Application
Figure 6. North America Smart Water Metering Market, by Country
Figure 7. North America - PEST Analysis
Figure 8. North America Smart Water Metering Market: Ecosystem Analysis
Figure 9. Expert Opinion
Figure 10. North America Smart Water Metering Market: Impact Analysis of Drivers and Restraints
Figure 11. North America Smart Water Metering Market, Forecast and Analysis (US$ Million)
Figure 12. North America Smart Water Metering Market Revenue Share, by Type (2021 & 2028)
Figure 13. Advanced Metering Infrastructure: North America Smart Water Metering Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. Automatic Meter Reader: North America Smart Water Metering Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. North America Smart Water Metering Market Revenue Share, by Component (2021 & 2028)
Figure 16. Controlling Units Reader: North America Smart Water Metering Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Display, Storage & Integrated Software: North America Smart Water Metering Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Others: North America Smart Water Metering Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. North America Smart Water Metering Market Revenue Share, by Application (2021 & 2028)
Figure 20. Residential: North America Smart Water Metering Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Industrial: North America Smart Water Metering Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. North America Smart Water Metering Market Revenue Share, by Meter Type (2021 & 2028)
Figure 23. Ultrasonic Meter: North America Smart Water Metering Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Electromagnetic Meter: North America Smart Water Metering Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Electromechanical Meter: North America Smart Water Metering Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. North America: Smart Water Metering Market, by Key Country – Revenue (2021) (US$ Million)
Figure 27. North America: Smart Water Metering Market Revenue Share, by Key Country (2021 & 2028)
Figure 28. US: Smart Water Metering Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Canada: Smart Water Metering Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Mexico: Smart Water Metering Market – Revenue and Forecast to 2028 (US$ Million)
- Arad Ltd
- Badger Meter Inc.
- Diehl Stiftung & Co KG
- Itron Inc
- Kamstrup AS
- Mueller Water Products Inc.
- Neptune Technology Group Inc
- Sensus USA Inc
- WAVIoT Integrated Systems LLC
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America smart water metering market
- Highlights key business priorities in order to assist companies to realign their business strategies
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- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the smart water metering market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution