Smart Water Meters Market worth $10.05 billion by 2031 | MarketsandMarkets™

DELRAY BEACH, Fla., Oct. 1, 2026 /PRNewswire/ -- According to MarketsandMarkets™, the global Smart Water Meters Market size is projected to grow from USD 6.06 billion in 2026 to USD 10.05 billion by 2031 at a compound annual growth rate (CAGR) of 10.6% during the forecast period.

Browse 150 market data Tables and 66 Figures spread through 220 Pages and in-depth TOC on 'Smart Water Meters Market – Global Forecast to 2031.'

The international industry for smart water meters continues to advance, as multiple water users such as municipal bodies, water utility companies, and industrial plants focus on conserving water, managing resources efficiently and minimizing water losses. Smart water meters are increasingly used in the process of measuring water consumption, finding leaks, improving water billing, and obtaining necessary information about water consumption. The installation of smart meters is largely dictated by the need to overcome the problems of old water infrastructure, increase efficiency of operations, and manage growing water consumption. Further development of smart metering systems is facilitated by the growth of urban areas and increase of investments in the sphere of smart cities and digital water infrastructure.

The trends in the water metering market are influenced by scientific developments in ultrasonic and electromagnetic metering, as well as emerging technologies such as AMR, AMI, Internet of Things, as well as remote reading of water meters, leakage detection, data analytics, and cloud-based platforms. The use of smart water meters enables measuring and processing data on water consumption, allowing efficient evaluation of water supply and distribution. Continuous data collection allows for remote monitoring of the given processes, automated billing, consumption notifications, leakage identifying, and more efficient demand management. With the help of digital water management platforms, metering data becomes more available and usable for both utilities and consumers. The advancement of the communication technology sphere and connected metering also contributes to the upgrade of the old water meter fleets.

Smart Water Meters Market Size & Forecast:

• Market Size Available for Years: 2021–2031
• 2025 Market Size: USD 5.43 billion
• 2031 Projected Market Size: USD 10.05 billion
• CAGR (2026–2031): 10.6%

Smart Water Meters Market Trends & Insights:

• The Asia Pacific Smart Water Meters Market is expected to register the highest CAGR of 11.4% during the forecast period.
• By technology, the automated meter reading is expected to have the highest CAGR during the forecast period.
• By meter type, Ultrasonic Meter is expected to register the highest CAGR during the forecast period.
• By component, meter & accessories segment is expected to register the highest CAGR during the forecast period.
• By application, Water Utilities segment is expected to register the highest CAGR during the forecast period.
• Badger Meter Inc,  Xylem, and Kamstrup were identified as star players focused on Smart Water Meter Market.

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Automated meter reading (AMR), by technology, is likely to record the highest CAGR during 2026–2031.

The automated meter reading (AMR) systems are anticipated to see a considerable growth as water companies continue to adopt remote reading technologies to enhance their efficiency and clip the costs related to reading meters by hand. AMR makes it possible to collect data on water consumption from the meters automatically by using one-way communication networks, which enables companies to obtain the necessary readings without any access to the meters. This makes AMR useful for implementation in large-scale applications in residential, commercial and municipal water systems. With the expansion of water distribution networks and a growing demand for accuracy in billings, the adoption of AMR technology is expected to rise significantly.

Ultrasonic meter, by meter type, is likely to record the highest CAGR during 2026–2031.

The expected growth of ultrasonic meters is due to the increasing implementation of sophisticated metering systems by water utilities that offer dependable performance with lower maintenance needs. Unlike traditional mechanical meters, ultrasonic meters employ sound waves to monitor water flow, leading to the improvement in the reliability of measurements and their extended operational life. By enabling precise measurements under different flow situations, ultrasonic water meters can be utilized in various applications. In addition to the growing popularity of AMR and AMI solutions, ultrasonic meters can provide cool water consumption information for remote management, billing, and leak detection. The increase in awareness of water conservation, non-revenue water reduction, and modernization of classical metering systems will also boost the use of ultrasonic smart water meters.

Asia Pacific to be the fastest-growing region in the Smart Water Meters Market during the forecast period.

The Smart Water Meter Market is estimated to grow significantly in the Asia Pacific region due primarily to urbanization, increased demand for water, a growing emphasis on water scarcity, and the spread of smart water infrastructure. Moreover, the establishment of municipal water distribution systems and increased funding for water-saving tools is raising interest in efficient water metering and loss management in the region. Countries such as China, India, Japan, South Korea, and the nations of Southeast Asia are investing in the modernization of their water infrastructure and utility businesses, which serve to indirectly promote the use of smart water meters, AMR and AMI systems, remote monitoring, and data analysis. Interest in minimizing non-revenue water rates, improving billing efficiency, and managing water use is helping to further accelerate the rollout of smart water metering technologies in the region.

Top Companies in Smart Water Meter Industry:

The Smart Water Meter Industry include Badger Meter, Inc. (US), Kamstrup (Denmark), Diehl Stiftung & Co. KG (Germany), Landis+Gyr (Switzerland), Aclara Technologies (US), Xylem (US), Itron, Inc. (US), Bmeters Srl (Italy), Honeywell International Inc. (US), MOM Co. Ltd. (South Korea), WaterTech (Arad Group) (Israel), Zenner International GmbH & Co. KG (Germany), Neptune Technology Group Inc. (US), Iskraemeco Group (Slovenia), and Sagemcom (France). These companies are strengthening their market positions through smart water meter portfolio expansion, energy-efficiency improvements, product innovation, geographic expansion, strategic acquisitions, and investments in water utilities and industrial applications.

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Smart Water Meters Market - Investment & funding + Merger & Acquisition

Investment Funding Context

Investments are pouring into the Smart Water Meter Market by governments, water companies and technology providers since water saving, updating infrastructure and digital management of utilities gain significance. The Environmental Protection Agency in the US announced USD 7.5 billion of WIFIA loans for water projects in 2024, and the new Bipartisan Infrastructure Law includes USD 50 billion for water structure investment. These funds help to modernize drinking and waste water systems and prepare a great financial basis for the introduction of new equipment like smart metering, remote control and digital water management systems.

Revenue Shift Context

The Smart Water Meter Market has shown an increasing trend towards the use of digital measurement technologies rather than using conventional mechanical meters. The move has received backing due to the utilities' pressure to reduce non-revenue water, bill accurately, detect leaks and gather consumption data. Through the use of AMI and IoT, utility firms are able to get the most out of their meter data while combining their meter data with the available communication networks through analytical systems. Suppliers, consequently, have been pushed away from exclusive involvement with manufacturing meters into the sphere of integrated measuring and communication solutions. For health purposes, supplies can combine smart measuring apparatus with data analytics systems like BlueEdge developed by Badger Meter.

Mergers and Acquisitions

M&A activity in the Smart Water Meter Market is focused on strengthening smart metering, network monitoring, data analytics, and digital water management capabilities. Badger Meter's acquisition of selected Trimble water monitoring hardware and software in January 2024 added Telog remote telemetry units and Trimble Unity Remote Monitoring software to its portfolio, expanding its real-time water network monitoring capabilities. In January 2025, Badger Meter acquired SmartCover Systems for USD 185 million, adding real-time monitoring capabilities for sewer lines and lift stations to its BlueEdge suite. More recently, Xylem completed the sale of its international Sensus metering business to AURELIUS in May 2026, while retaining its North American Sensus business. These transactions reflect the continued evolution of the market toward integrated metering, network monitoring, software, and broader digital water management solutions.

Smart Water Meters Market: Mergers and Acquisitions, January 2025–June 2025

Company Revenue Share Details

The smart water meter industry has a highly competitive environment where major companies engaged in water metering and utility technologies are utilizing various strategies to enter into diverse sectors like water utilities, municipalities, industrial locations, commercial buildings, and many other water-intensive applications. In fact, some of the larger companies operating in this field such as Badger Meter, Inc., Sensus (Manufactured by Xylem), Diehl Stiftung & Co. KG, Landis + Gyr, and Itron, Inc. are companies that manufacture a variety of smart water metering products; unfortunately, these companies report their income at a greater level of aggregation than smart water products, which makes it challenging to compare their revenues from smart water meters with that of others in the same field. In line with that, smart water meter sales should be assessed according to revenues from smart water meters, as in the case of other companies operating in the industry, as opposed to total revenues generated.

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