Commercial Smart Water Meter Market Regional Analysis:
Europe Market Statistics
Europe industry is set to account for largest revenue share of 44% by 2035. Major factors expanding the market in the region are strong economic growth and technology developments in nations like Germany, the United Kingdom, Russia, Italy, and Sweden. The growing consumer market and developing digital economy greatly enhance the region’s economic growth. Exports, technical innovation, and strategic alliances contribute to the region's economy, as do Sweden and Italy with their robust industrial bases and innovation ecosystems.
In the UK, commercial smart water meters have gained traction as a potential remedy for the strains on the water infrastructure. Wetter winters and dryer summers due to climate change will put additional strain on UK waterways, which are already experiencing pollution and flooding. The local government stated that one in six residences in England, or about 5.2 million properties, are susceptible to floods. Therefore, smart water meters can be used to reduce water consumption and find leaks since they provide remote management of water usage.
Furthermore, in Germany, these commercial meters are becoming a top priority for governments and utilities to boost water conservation, reduce non-revenue water losses, and boost operational effectiveness. For instance, 45 million water meters were installed in Germany alone, and their combined production value in Europe is close to USD 1.09 billion.
North America Market Analysis
North America commercial smart water meter market is expected to hold a significant share during the forecast period. The market growth can be attributed to the existence of advanced water infrastructure and a rise in water conservation efforts by the government. For instance, with the America the Beautiful initiative, the government set a historic target to conserve 30% of the country's lands and waters by 2030.
The market is growing in the U.S. due to its extensive infrastructure, which encourages using smart water meters. The need for effective water management systems is also fueled by strict laws and a growing emphasis on water conservation. In addition, the essential role of the nation is reinforced by the existence of significant players and a favorable investment climate.
