UK Smart Water Meter Market size is projected to reach USD 350 million by 2027. Ongoing government regulations & standards towards monitoring and control of Non-Revenue Water (NRW) along with growing smart city concept will foster industry growth across the country. A smart water meter is an IoT-based equipment that measures consumption of water in homes, buildings, or utilities, ensuring data accuracy and reliability. Rising demand for sustainable use of water resources coupled with continued adoption of advanced metering infrastructure will further boost the market revenue. In addition, advanced and sustainable water management solutions for accurate billing & remote reading will propel product adoption.
Strict government norms to deliver over 75% of consumers with smart water metering systems will complement the market expansion. Ongoing initiatives by UK government with introduction of deployment policies, strategies & programs for installation of smart metering devices will foster the market landscape. For instance, UK's water resources programs including AMP6, AMP7 and AMP8, aims for installation of meters to over 90% of consumers by 2022, allowing utilities for efficient management of water meters along with minimizing & repairing leaks and regular water consumption monitoring.
UK Market, By Application
UK residential smart water meter segment is anticipated to rise significantly through 2027, owing to increasing consumer awareness for effective water management along with ongoing investments for advanced infrastructure development. Rising adoption of advanced metering modules coupled with requirement for smart metering implementation across end points in residential facilities will further fuel the market growth. Additionally, availability of these products in various meter sizes combined with their low power consumption & long-range coverage will favor the large-scale deployment.
UK Market, By Technology
AMI based smart water meter market in the UK will witness substantial surge during the forecast period, on account of real-time consumption data management, reduced labor costs, reliable and accurate meter readings. Ability of process optimization, long battery life and improved design will positively influence technology implementation. For instance, in December 2020, Kamstrup signed a contract with PHYSEC GmbH for development of LoRaWan technology compatible digital water meter with features including LoRaWAN communication technology & advanced security mechanisms.
UK Market, By Product
Cold water meter segment will experience high adoption in the coming years, due to increasing consumer expenditure combined with ongoing inclination toward efficient water conserving solutions across the residential & commercial establishments. Rising focus toward digitization and advancement of water distribution networks in line with rapid water consumption & growing water demand will further complement the industry spectrum. Moreover, increasing prominence toward advanced water infrastructure coupled with minimal deployment costs of cloud-enabled technologies will boost product demand.
Competitive Industry Landscape
Prominent players functioning across the market include Apator SA, Diehl Metering, Siemens, Landis+Gyr, Badger Meter, Kampstrup, Sensus, Sontex SA, Itron, Zenner International, ARAD Group, and Ningbo Water Meter Co., Ltd. Companies are developing intelligent technologies & introducing new product portfolios to stimulate their industry presence.