Smart Water Meters Market Projected to Reach $10.05 Billion by 2031

The global smart water meters market is forecast to grow from $6.06 billion in 2026 to $10.05 billion by 2031, at a compound annual growth rate (CAGR) of 10.6%, according to MarketsandMarkets.

This expansion is driven by water utilities and municipalities focusing on water conservation, efficient resource management, and loss reduction. Smart meters are increasingly utilized for measuring consumption, detecting leaks, and improving billing accuracy. The need to upgrade aging infrastructure and investments in smart city initiatives are also key growth factors.

Technological advancements, including ultrasonic and electromagnetic metering, automated meter reading (AMR), advanced metering infrastructure (AMI), Internet of Things (IoT), and cloud-based analytics, are shaping the market. These technologies enable remote monitoring, automated billing, and better demand management.

The automated meter reading (AMR) segment and ultrasonic meter types are expected to see the highest growth. AMR systems enhance efficiency by enabling remote data collection, while ultrasonic meters offer greater accuracy and lower maintenance. The Asia Pacific region is anticipated to be the fastest-growing market.