North America Smart Water Metering Market Forecast to 2031 - Regional Analysis - by Type, Component, End User, and Meter Type

Description

List of Tables

The North America smart water metering market was valued at US$ 1,598.16 million in 2023 and is expected to reach US$ 3,121.30 million by 2031; it is estimated to register a CAGR of 8.7% from 2023 to 2031.

Increasing Water Scarcity and Misuse of Water Loss Fuel North America Smart Water Metering Market

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.

North America Smart Water Metering Market Overview

North America comprises the US, Canada, and Mexico. The US is a developed country in terms of the adoption of modern technology, standard of living, infrastructure development, and 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 governments, with 80% and 20%, respectively. 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 of the region continue to take measures to reduce unyielding water usage and undergo modernization and replace older water meters with avant-garde smart water meters, which is becoming a major trend in North America. Various public-private partnerships can help reduce the issues concerning efficient water management. The regional product manufacturers aim to develop varied types of smart water meters. Private companies have invested in R&D activities to develop innovative products and gain leadership to strengthen the growth of the North American smart water metering market. In September 2022, Saint-Gobain installed a smart water meter system and upgraded equipment in Social Circle, Georgia, through its building products subsidiary CertainTeed LLC. In addition, the installation focuses on reducing the site's water consumption by more than two million gallons per year. Saint-Gobain continues to work on reducing the company's water consumption at its manufacturing sites.

The technology providers, water utilities, and investors comprise the stakeholder ecosystem in the North American smart water metering market. Municipal water sectors in the region are financially risk averse as they look at low-cost bids that do not always provide water utilities with proper resources. In August 2023, WaterMeter Corp., in conjunction with WND Mexico and UnaBiz, announced the signing of a Memorandum of Understanding (MoU) to transform water management in Mexico. The strategic cooperation seeks to implement one million water meters using Sigfox 0G technology in Mexico over the next ten years, enabling novel solutions for precise, efficient, and sustainable water monitoring. Badger Meter, Inc.; Itron Inc.; WAVIoT; and Sensus are among the prominent players in the North America smart water metering market .

North America Smart Water Metering Market Revenue and Forecast to 2031 (US$ Million)

North America Smart Water Metering Market Segmentation

The North America smart water metering market is categorized into type, component, end user, meter type, and country.

Based on type, the North 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 North 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 North 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 North 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 North America smart water metering market is segmented into the US, Canada, and Mexico. The US dominated the North America smart water metering market share in 2023.

Kamstrup AS, Mueller Water Products Inc, Badger Meter Inc, Itron Inc, Neptune Technology Group Inc, Arad Ltd, Sensus USA Inc, WAVIoT Integrated Systems LLC, and Diehl Stiftung & Co KG., are among the leading companies operating in the North America smart water metering market.

Product Code: BMIRE00028266

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:

4. North America Smart Water Metering Market Landscape

4.1 Overview
4.2 Ecosystem Analysis
- 4.2.1 List of Vendors in the Value Chain

5. North America Smart Water Metering Market - Key Market Dynamics

5.1 Market Drivers
- 5.1.1 Increasing Water Scarcity and Misuse of Water
- 5.1.2 Nonrevenue Water Monitoring and Control
- 5.1.3 Increasing Number of Smart Water Meter Projects across Different Region
5.2 Market Restraints
- 5.2.1 High Initial Investment and Lack of Knowledge
- 5.2.2 Vulnerable to Cyber Attacks
5.3 Market Opportunities
- 5.3.1 Smart Irrigation Systems Through Smart Water Management
- 5.3.2 Integration with IoT and Data Analytics
5.4 Future Trends
- 5.4.1 Increase in Demand for Smart Water Meters with Rise in Smart City Initiatives
5.5 Impact of Drivers and Restraints:

6. Smart Water Metering Market - North America Analysis

6.1 Smart Water Metering Market Revenue (US$ Million), 2021-2031
6.2 Smart Water Metering Market Forecast Analysis

7. North America Smart Water Metering Market Analysis - by Type

7.1 AMI
- 7.1.1 Overview
- 7.1.2 AMI: Smart Water Metering Market - Revenue and Forecast to 2031 (US$ Million)
7.2 AMR
- 7.2.1 Overview
- 7.2.2 AMR: Smart Water Metering Market - Revenue and Forecast to 2031 (US$ Million)

8. North America Smart Water Metering Market Analysis - by Component

8.1 Controlling Unit
- 8.1.1 Overview
- 8.1.2 Controlling Unit: Smart Water Metering Market - Revenue and Forecast to 2031 (US$ Million)
8.2 Display Storage & Integrated Software
- 8.2.1 Overview
- 8.2.2 Display Storage & Integrated Software: Smart Water Metering Market - Revenue and Forecast to 2031 (US$ Million)
8.3 Others
- 8.3.1 Overview
- 8.3.2 Others: Smart Water Metering Market - Revenue and Forecast to 2031 (US$ Million)

9. North America Smart Water Metering Market Analysis - by End User

9.1 Residential
- 9.1.1 Overview
- 9.1.2 Residential: Smart Water Metering Market - Revenue and Forecast to 2031 (US$ Million)
9.2 Industrial
- 9.2.1 Overview
- 9.2.2 Industrial: Smart Water Metering Market - Revenue and Forecast to 2031 (US$ Million)

10. North America Smart Water Metering Market Analysis - by Meter Type

10.1 Ultrasonic Meters
- 10.1.1 Overview
- 10.1.2 Ultrasonic Meters: Smart Water Metering Market - Revenue and Forecast to 2031 (US$ Million)
10.2 Electromagnetic Meters
- 10.2.1 Overview
- 10.2.2 Electromagnetic Meters: Smart Water Metering Market - Revenue and Forecast to 2031 (US$ Million)
10.3 Electromechanical Meter
- 10.3.1 Overview
- 10.3.2 Electromechanical Meter: Smart Water Metering Market - Revenue and Forecast to 2031 (US$ Million)

11. North America Smart Water Metering Market - Country Analysis

11.1 North America Smart Water Metering Market Overview
- 11.1.1 North America: Smart Water Metering Market Breakdown, by Key Country, 2023 and 2031 (%)
  - 11.1.1.1 North America: Smart Water Metering Market - Revenue and Forecast Analysis - by Country
  - 11.1.1.2 United States: Smart Water Metering Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.1.2.1 United States: Smart Water Metering Market Breakdown, by Type
    - 11.1.1.2.2 United States: Smart Water Metering Market Breakdown, by Component
    - 11.1.1.2.3 United States: Smart Water Metering Market Breakdown, by End User
    - 11.1.1.2.4 United States: Smart Water Metering Market Breakdown, by Meter Type
  - 11.1.1.3 Canada: Smart Water Metering Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.1.3.1 Canada: Smart Water Metering Market Breakdown, by Type
    - 11.1.1.3.2 Canada: Smart Water Metering Market Breakdown, by Component
    - 11.1.1.3.3 Canada: Smart Water Metering Market Breakdown, by End User
    - 11.1.1.3.4 Canada: Smart Water Metering Market Breakdown, by Meter Type
  - 11.1.1.4 Mexico: Smart Water Metering Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.1.4.1 Mexico: Smart Water Metering Market Breakdown, by Type
    - 11.1.1.4.2 Mexico: Smart Water Metering Market Breakdown, by Component
    - 11.1.1.4.3 Mexico: Smart Water Metering Market Breakdown, by End User
    - 11.1.1.4.4 Mexico: Smart Water Metering Market Breakdown, by Meter Type

12. Competitive Landscape

12.1 Heat Map Analysis by Key Players
12.2 Company Positioning & Concentration

13. Industry Landscape

13.1 Overview
13.2 Market Initiative
13.3 Product Development
13.4 Mergers & Acquisitions

14. Company Profiles

14.1 Kamstrup AS
- 14.1.1 Key Facts
- 14.1.2 Business Description
- 14.1.3 Products and Services
- 14.1.4 Financial Overview
- 14.1.5 SWOT Analysis
- 14.1.6 Key Developments
14.2 Mueller Water Products Inc
- 14.2.1 Key Facts
- 14.2.2 Business Description
- 14.2.3 Products and Services
- 14.2.4 Financial Overview
- 14.2.5 SWOT Analysis
- 14.2.6 Key Developments
14.3 Badger Meter Inc
- 14.3.1 Key Facts
- 14.3.2 Business Description
- 14.3.3 Products and Services
- 14.3.4 Financial Overview
- 14.3.5 SWOT Analysis
- 14.3.6 Key Developments
14.4 Itron Inc
- 14.4.1 Key Facts
- 14.4.2 Business Description
- 14.4.3 Products and Services
- 14.4.4 Financial Overview
- 14.4.5 SWOT Analysis
- 14.4.6 Key Developments
14.5 Neptune Technology Group Inc
- 14.5.1 Key Facts
- 14.5.2 Business Description
- 14.5.3 Products and Services
- 14.5.4 Financial Overview
- 14.5.5 SWOT Analysis
- 14.5.6 Key Developments
14.6 Arad Ltd
- 14.6.1 Key Facts
- 14.6.2 Business Description
- 14.6.3 Products and Services
- 14.6.4 Financial Overview
- 14.6.5 SWOT Analysis
- 14.6.6 Key Developments
14.7 Sensus USA Inc
- 14.7.1 Key Facts
- 14.7.2 Business Description
- 14.7.3 Products and Services
- 14.7.4 Financial Overview
- 14.7.5 SWOT Analysis
- 14.7.6 Key Developments
14.8 WAVIoT Integrated Systems LLC
- 14.8.1 Key Facts
- 14.8.2 Business Description
- 14.8.3 Products and Services
- 14.8.4 Financial Overview
- 14.8.5 SWOT Analysis
- 14.8.6 Key Developments
14.9 Diehl Stiftung & Co KG
- 14.9.1 Key Facts
- 14.9.2 Business Description
- 14.9.3 Products and Services
- 14.9.4 Financial Overview
- 14.9.5 SWOT Analysis
- 14.9.6 Key Developments

15. Appendix

15.1 About The Insight Partners
15.2 Word Index