Global Smart Water Metering Market TOC
North American Market Forecast
The North America smart water metering market is projected to hold a significant market share of USD 10.76 billion by the end of 2033. The regulatory environment is propelling water utilities to introduce advanced water meters to monitor the distribution network, and surging government initiatives are expected to drive the market in the region. For example, the California Public Utilities Commission (CPUC) authorized San Jose Water's request to deploy Advanced Metering Infrastructure (AMI or smart meters) in June 2022. The Company planned to invest in this technology at approximately USD 100 million for the next four years, which supports customer service and environmental goals. Besides, in March 2022, Greater Sudbury installed smart water meters at homes and businesses to eliminate the need for most in-person meter readings. In addition, a USD 50-a-month manual meter read fee would be charged as a penalty if people don't get a smart meter installed.
APAC Market Analysis
The Asia Pacific smart water metering market is projected to grow at the highest rate with a CAGR of 12.42% due to the increasing smart city projects in recent years and growing investments in the region. For instance, in India, 4,436 out of 7,902 projects are completed under the government’s ambitious Smart Cities Mission (SCM), which aims to build 100 smart cities by offering housing for everyone, better infrastructure, and ample developed open spaces. In one of the cities named Noida, the authority has started the installation of 5,000 smart water meters in the first phase and aims at ending water wastage and bringing more transparency in billings. In April 2021, SP Group (SP) rolled out Singapore’s first large-scale smart water metering project appointed by the National water agency PUB to install 300,000 automated water meters in new and existing industrial, residential, and commercial premises by 2024 and is about to complete installation for all 1.4 million households.
Author Credits: Abhishek Verma, Hetal Singh
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