USD 2 billion
Europe Smart Water Meter Market Size, Share, Growth Analysis, By Application(Residential, Commercial, Utility), By Technology(AMI, AMR), By Product(Hot Water Meter, Cold Water Meter), By Region - Industry Forecast 2024-2031
Report ID:
SQMIR20E2091 |
Region:
Regional |
Published Date: April, 2024
Pages:
157
|Tables:
88
|Figures:
76
Europe Smart Water Meter Market Insights
Europe Smart Water Meter Market size was valued at USD 2 billion in 2021 and is poised to grow from USD 2.30 billion in 2022 to USD 7.04 billion by 2030, growing at a CAGR of 15% in the forecast period (2023-2030).
The surge in digitalization across diverse sectors has spurred heightened demand for reconciliation software. Notably, the retail industry has emerged as a remarkably agile sector within the United States, propelled by urbanization, favorable government policies, and an upswing in online transactions. Furthermore, the U.S. stands out as one of the swiftest-growing players in the e-commerce domain, a pivotal catalyst fueling market growth. Both large enterprises and small to medium-sized businesses grapple with the essential yet laborious and intricate process of bank reconciliation. In this context, the deployment of bank reconciliation software streamlines and accelerates this operation for enhanced accuracy, facilitating an expanded market presence.
Moreover, the adoption of reconciliation software equips businesses with quicker and more resource-efficient insights into their cash position, nurturing market expansion. However, significant challenges impede the market's progress. Escalating cyberattacks targeting online transactions highlight the software's security vulnerabilities. Moreover, organizations employing reconciliation software contend with issues such as error-prone inputs, sluggish data entry, and an incapacity to identify substantial fraudulent activities. These predicaments are particularly pronounced in smaller and medium-sized enterprises, which are more susceptible to both human errors and cyber threats, thereby dampening market growth.
For manufacturing firms, the adoption of reconciliation software is driven by the imperative of fraud detection. Failure to oversee these processes adequately can lead to revenue losses. Paradoxically, while reconciliation software should mitigate cyber threats, its incapability to effectively detect such attacks hampers its own growth. Within this landscape, different types of reconciliation software development are embracing artificial intelligence (AI) as an integral facet. Leading producers in this domain, including Oracle Corporation, SAP SE, and Fiserv, harness machine learning and AI to construct their reconciliation software models, magnifying the potential for market expansion.
Europe Smart Water Meter Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2023-2030
Global Market Size
Largest Segment
Residential
Fastest Growth
Residential
Growth Rate
15% CAGR
Global Europe Smart Water Meter Market ($ Bn)
Country Share for Europe Region (%)
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Europe Smart Water Meter Market Segmental Analysis
The europe smart water meter market is segmented on the basis of application, technology, product, region. By application, the market is segmented residential, commercial, utility. By technology, the market is segmented into AMI, AMR. By product, the market is segmented into hot water meter, cold water meter. By region, the market is segmented into Germany, Poland, Sweden, Denmark, Finland, Russia, Italy, UK, Norway, Czech Republic, Estonia, Latvia, Lithuania, Switzerland, Austria.
Europe Smart Water Meter Market Analysis By Application
The residential sector is poised to continue its prevailing dominance, consistent with previous years. This projected growth is primarily attributed to the escalating number of consumers within this sector, driven by global population growth and urbanization trends. A noteworthy driver behind the residential sector's prominence is the significant role of municipal water consumption across various regions, further amplifying the sector's foothold in overall water utilization patterns.
Directly following the residential sector, the industrial segment emerges as the second significant application area. Water, in this context, assumes the role of a vital raw material and a crucial coolant within numerous industries worldwide. This heightened industrial water usage is observed across diverse sectors, ranging from manufacturing to energy production. As industries grapple with sustainability and resource management concerns, the importance of efficient water utilization becomes increasingly pronounced.
Europe Smart Water Meter Market Analysis By Technology
Currently, the advanced metering infrastructure segment holds a relatively smaller market share when compared to auto meter reading. However, owing to its operational merits, such as two-way communication capabilities and enhanced accuracy, the advanced metering infrastructure segment is projected to emerge as the dominant force in shaping the smart water meter market share in the forthcoming years.
In contrast, auto meter reading meters feature one-way communication solely from utilities to customers, resulting in their decreased preference within ongoing smart water metering deployments. The limitations of one-way communication hinder the real-time data exchange and proactive management that are becoming increasingly critical in modern water management systems.
Global Europe Smart Water Meter Market By Application
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Europe Smart Water Meter Market Regional Insights
The smart water meter market in Europe achieved a valuation of USD 0.48 billion in 2021. Notably, this region is characterized by proactive roll-outs aimed at fostering sustainable water usage practices, concomitant with attaining economic benefits. These factors, alongside a heightened awareness of smart meter technology among the populace compared to other regions, have propelled Europe to capture a substantial share in the overall market landscape. The presence of numerous independent nations in the region embarking on these roll-outs with government support further bolsters its significance in the market.
Global Europe Smart Water Meter Market By Geography
- Largest
- Fastest
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Europe Smart Water Meter Market Dynamics
Europe Smart Water Meter Market Drivers
Water Scarcity Concerns
- Escalating water scarcity issues across Europe are driving the adoption of smart water meters, as these technologies enable efficient monitoring, conservation, and equitable distribution of water resources.
Sustainability Initiatives
- Europe's commitment to sustainability and reducing water wastage aligns with the implementation of smart water meters, promoting responsible water consumption and resource preservation.
Operational Efficiency
- The operational efficiency offered by smart water meters, such as real-time monitoring, leak detection, and accurate billing, motivates utilities and consumers to adopt these technologies.
Europe Smart Water Meter Market Restraints
Initial Costs
- The high upfront investment required for the installation and integration of smart water metering systems may deter some utilities and consumers from immediate adoption.
Infrastructure Challenges
- Older water infrastructure in some regions may lack compatibility with smart water meter systems, necessitating additional investments for integration.
Resistance to Change
- Traditional utility operations and consumer habits may hinder the seamless transition to smart water meters, requiring educational efforts and change management strategies.
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Europe Smart Water Meter Market Competitive Landscape
The competitive landscape of the europe smart water meter market is characterized by a blend of established industry leaders and innovative entrants striving to seize a significant share of this dynamic market. Established players like Kamstrup A/S, Diehl Stiftung & Co. KG, Itron Inc., and Landis+Gyr AG wield considerable influence, leveraging their extensive experience and comprehensive offerings to cater to evolving market demands. These industry stalwarts are recognized for their advanced smart water meter technologies, robust data analytics capabilities, and established customer bases.
However, the market's vibrancy is further enhanced by the influx of disruptive startups and emerging companies. These nimble entrants bring fresh perspectives and cutting-edge technologies, propelling the industry forward with solutions designed to address specific water management challenges. Startups such as Badger Meter and Aclara Technologies LLC are notable examples, redefining the competitive landscape with innovative approaches to smart water metering.
Europe Smart Water Meter Market Top Player’s Company Profiles
- Kamstrup A/S (Denmark)
- Diehl Stiftung & Co. KG (Germany)
- Itron Inc. (USA)
- Landis+Gyr AG (Switzerland)
- Badger Meter (USA)
- Sensus (USA)
- Sensus Deutschland GmbH (Germany)
- Aclara Technologies LLC (USA)
- Sensus Italia Srl (Italy)
- Sensus France S.A.S. (France)
- Sensus Canada Inc. (Canada)
- Elster Group GmbH (Germany)
- Neptune Technology Group Inc. (USA)
- Axioma Metering (Poland)
- Holley Technology Ltd. (China)
- Honeywell International Inc. (USA)
- Idea Srl (Italy)
- Apator Group (Poland)
- ABB Ltd. (Switzerland)
- Iskraemeco d.d. (Slovenia)
Europe Smart Water Meter Market Recent Developments
- In March 2023, the European Commission announced that it would be providing $100 million in funding to support the deployment of smart water meters across Europe. The funding is part of the EU's Water Works program, which aims to improve water efficiency and reduce water losses.
- In February 2023, the German government announced that it would be requiring all water utilities in Germany to install smart water meters by 2025.
- In January 2023, the French government announced that it would be providing USD 50 million in funding to support the deployment of smart water meters across France.
Europe Smart Water Meter Key Market Trends
- IoT and Connectivity: Integration with the Internet of Things (IoT) ecosystem and improved connectivity solutions are enhancing the effectiveness of smart water meters, enabling real-time communication and remote management.
- Water Quality Monitoring: Smart water meters are evolving to include water quality monitoring capabilities, allowing utilities to detect contaminants and ensure safe drinking water supplies.
- Consumer Engagement: Utilities are leveraging smart water meter data to engage consumers through personalized usage reports, conservation tips, and interactive portals, encouraging responsible water consumption.
Europe Smart Water Meter Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our europe smart water meter market analysis, the europe smart water meter market reflects a landscape characterized by a dynamic interplay between established industry leaders and innovative entrants. The market's growth is propelled by pressing concerns over water scarcity, regulatory mandates, and sustainability initiatives. Established players such as Kamstrup A/S, Diehl Stiftung & Co. KG, and Itron Inc. leverage their experience and advanced technologies to cater to evolving market demands.
In parallel, emerging startups like Badger Meter and Aclara Technologies LLC introduce fresh perspectives and cutting-edge solutions, amplifying the market's competitiveness and fostering innovation. The prevalence of strategic collaborations, partnerships, and technological integrations underscores the industry's pursuit of comprehensive solutions that cater to evolving water management challenges. As the europe smart water meter market evolves, the convergence of traditional market giants and nimble newcomers creates a dynamic ecosystem that prioritizes technological innovation, customer-centric solutions, and responsible water resource management. This market's trajectory emphasizes its pivotal role in addressing water conservation imperatives, ensuring sustainable water usage practices, and shaping Europe's approach to efficient water resource management.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 2 billion |
| Market size value in 2030 | USD 7.04 billion |
| Growth Rate | 15% |
| Base year | 2023 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Europe Smart Water Meter Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Europe Smart Water Meter Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Europe Smart Water Meter Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Europe Smart Water Meter Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Europe Smart Water Meter Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Europe Smart Water Meter Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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