Europe Smart Water Meter Market Size, Share, Industry Growth, Top Key Players, Competitive Landscape, Applications, and Recent Trends by Forecast Report To 2027
The latest trends in Europe smart water meter market are being propelled by an upsurge in the rollout of innovative products by leading industry players for the expansion of geographical footprint and sustaining competition in the market.
Citing an instance, in July 2021, Global Omnium, a water company, announced plans for the deployment of 450,000 next-gen smart water meters by making use of Telefonica’s narrowband IoT connectivity. The meters are set to be installed for business and domestic customers in the company’s territory across Spain.
In addition to such advancements, numerous smart water meter companies are focusing on the adoption of strategic moves such as acquisitions, mergers, and collaborative initiatives for securing a competitive edge in the industry.
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On this note, the Europe smart water meter market size is estimated to grow by over 29% through 2027, cites the latest research conducted by Global Market Insights, Inc.
Some of the key trends expected to augment the regional industry share have been described below:
Increasing demand for smart automated meter reading devices
Smart automated meter reading systems have been developed for the communication and diagnosis of garnered data in a two-way direction. The devices help customers as well as energy suppliers in continuously receiving the meter reading, further helping in the reduction of meter tampering activities, water thefts, and decreasing manual work force.
These meters comprise ‘smart energy display’, offering real-time data for total energy consumption on monthly, daily, and hourly basis. Additional parameters favoring the usage of AMR smart water meters across Europe comprise affordable maintenance, easy availability, and low installation costs.
Soaring deployment of cloud-based metering systems
Europe is witnessing an increasing demand for cloud-based metering systems on account of growing awareness towards daily water consumption and the rising use of advanced technologies for the minimization of losses.
Furthermore, increasing leakage and water theft problems and the rising demand for ineffective management systems are expected to foster utilities for the deployment of advanced metering systems. The installation of these systems with the water distribution network is set to be impelled by the expansion of the European urban landscape and the surging number of smart city initiatives.
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Rising adoption of smart water meter in Poland
With the expanding digitalization and smart city, Poland is centered on the adoption of smart water meter infrastructure and solutions for the improvement of the country’s urban water supply planning and associated services.
To cite an instance, Emitel, an operator of infrastructure, telecommunications, and smart city solutions, entered into a collaboration with AIUT for the development of an innovative system to read water meter parameters for Wroclaw’s Municipal Water and Wastewater Company.
Along with such initiatives, the Poland smart water meter market is being propelled by the large scale launch of programs for the usage of advanced metering units and ongoing investments in the smart infrastructure network.
Surging installation of cold smart water meters
The demand for cold smart water meters has escalated in Europe over the past few years owing to surging population size and the increasing problem of water scarcity. The meters help in tracking the costs associated with water resource utilization and in monitoring and diagnosis of cold-water consumption patterns.
In a nutshell, the surging population index across leading European countries that have high water stress level will boost Europe smart water meter market share over the analysis period.
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