Smart Water Metering Market Expected to Exceed $3 Billion by 2024

According to a comprehensive study by Global Market Insights, Inc., the worldwide smart water metering market—currently valued at roughly US$900 million (€787 million)—is projected to surge past US$3 billion (€2.62 billion) by 2024.

Key drivers include the rollout of government‑backed smart‑meter programmes, stricter water‑conservation mandates, and the urgent need to curb non‑revenue water (NRW). For example, the European Union, in partnership with the International Monetary Fund, has mandated a nationwide smart‑meter rollout in Ireland to tighten water use and curb losses.

Water security initiatives and NRW monitoring are accelerating the market. The World Bank reports that 32 billion cubic metres of treated water are lost annually to leaks, while an additional 16 billion cubic metres is supplied without charge due to faulty metering, billing errors, or theft. These figures underscore the financial and environmental urgency for smarter meters.

In the United States, the smart water metering segment is expected to grow at a compound annual growth rate (CAGR) of over 6% through 2024. Federal funding—such as the US Department of Energy’s Smart Grid Investment Grant (SGIG), which disbursed more than US$8 billion (€7 billion) across 99 projects in 2013—continues to support grid‑connected water infrastructure upgrades.

Advanced Metering Infrastructure (AMI) is a standout growth driver, with a forecast CAGR exceeding 28% by 2024. AMI systems enable rapid leak detection, reduce wastage, and deliver granular data analytics, enhancing both operational efficiency and customer engagement.

Global water‑conservation campaigns, rising energy costs, and aging distribution networks are also spurring demand. The United States saw a notable drop in average residential water consumption in 2015, reflecting heightened conservation awareness across the country.

France Smart Water Metering Market – 2016 & 2024 (million units)

European markets benefit from robust mapping initiatives and regulatory frameworks aimed at reducing NRW. Increasing administrative emphasis on high‑performance, advanced metering systems further fuels industry expansion.

Continuous technological innovation—particularly in precision metering—will accelerate commercial adoption, driven by the twin imperatives of water waste reduction and scarcity mitigation.

Prominent market players include Landis+GYR, Badger Meter, Itron, Siemens, Arad Group, Schneider Electric, Sensus Sentec, Neptune, Kamstrup, Elster Group, Diehl Metering, and Honeywell International.

The author of this article is Saipriya Iyer.