Smart Water Meter Market Size Worth USD 13.94 Billion by 2034 | CAGR: 11.8%

The global smart water meter market size is expected to reach USD 13.94 billion by 2034, according to a new study by Polaris Market Research. The report “Smart Water Meter Market Share, Size, Trends, Industry Analysis Report: By Technology, Application (Water Utilities and Industries), Meter Type, Component, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

A smart water meter is an intelligent metering device that enables automated and remote monitoring of water consumption, improving efficiency and sustainability.

One of the major trends shaping the smart water meter market expansion is the integration of advanced data analytics and AI-driven insights. These technologies improve real-time monitoring, allowing predictive maintenance, anomaly detection, and precise demand forecasting. Utilities can optimize water distribution, reduce non-revenue water losses, and improve overall system efficiency by leveraging AI and machine learning. The adoption of AI-powered smart metering solutions continues to gain momentum as digital transformation accelerates across industries.

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Another trend shaping the smart water meter market development is the increasing adoption of cloud-based and IoT-enabled metering infrastructure. Cloud connectivity improves data accessibility, allowing utilities to monitor water usage remotely and streamline billing processes with greater accuracy. IoT integration facilitates seamless communication between smart meters and central management systems, allowing automated alerts for leaks, abnormal consumption patterns, and system malfunctions. This trend is driving a shift toward fully connected water networks, improving resource management and operational efficiency. Thus, as utilities seek scalable and cost-effective solutions, cloud-based and IoT-enabled smart water meters are expected to witness widespread adoption.

Top of FormSmart Water Meter Market Report Highlights

• In terms of application, the water utilities segment led the smart water meter market expansion in 2024, driven by the growing adoption of advanced metering infrastructure (AMI) by municipal water authorities.
• Based on meter type, the ultrasonic segment is anticipated to experience the fastest growth during the forecast period, owing to its high accuracy, durability, and maintenance-free operation.
• North America accounted for the largest share of smart water meter market revenue in 2024, supported by robust regulatory frameworks, advanced infrastructure, and widespread implementation of smart water management solutions.
• Asia Pacific is expected to see significant growth during the forecast period, fueled by rapid urbanization, population expansion, and rising concerns over water scarcity.
• A few global key market players include Apator SA; Arad Group; Axioma Metering; Badger Meter, Inc.; Diehl Stiftung & Co. KG; Itron Inc.; Kamstrup A/S; Maddalena S.P.A; Mom Zrt; Sensus USA Inc. (Xylem Inc.); Suez Water Technologies & Solutions; Watertech S.P.A (Arad Group); and Zenner International GmbH & Co. KG.

Polaris Market Research has segmented the smart water meter market report on the basis of technology, application, meter type, component, and region:

By Technology Outlook (Revenue, USD Billion, 2020 - 2034)

• Automated Meter Reading
• Advanced Meter Reading

By Application Outlook (Revenue, USD Billion, 2020 - 2034)

• Water Utilities
• Industries

By Meter Type Outlook (Revenue, USD Billion, 2020 - 2034)

• Electromagnetic
• Ultrasonic
• Smart Mechanical

By Component Outlook (Revenue, USD Billion, 2020 - 2034)

• Meters & Accessories
• IT Solutions
• Communications

By Regional Outlook (Revenue, USD Billion, 2020 - 2034)

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Vietnam
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Argentina
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa
  • Rest of Middle East & Africa

Smart Water Meter Market Report Scope