Global Smart Water Meter Market Demand Continues to Climb

With the advancement of urban development and global energy sustainability goals, the application of smart water meters in the global utility field is accelerating. According to the data, by the end of 2024, the number of smart meters is expected to exceed 1.2 billion units, and Asia will become the largest market, accounting for two-thirds of the world, with China benefiting significantly.
In the U.S. and Canada, the penetration rate of smart meters is expected to increase by 8% annually, and will exceed 80% in 2024; the penetration rate of the European Union is expected to increase to 91.57% by 2030, with a total investment of 40.7 billion euros.
In the Middle East, Africa and other water-scarce regions, governments are actively promoting smart water supply metering reform and purchasing smart meters to alleviate water conflicts. Overseas research organizations report that the Middle East and Africa smart water meter market size is expected to grow from $122 million to $212 million from 2021 to 2028, at a CAGR of 8.14%.
With the advantages of remote meter reading and monitoring of water consumption data, smart water meters not only enhance the efficiency of water management, but also help users to use water wisely. In the future, with the advancement of technology and application expansion, the smart water meter market has a broad prospect and will play a key role in global water resource management.

Translated with DeepL.com (free version)