Market Dynamics:
The water meter market is expected to witness steady growth owing to increasing adoption of smart water meters across the world. According to findings, over 70% of all water meters are expected to become smart by 2031. The other key driver for the market growth is growing need to reduce non-revenue water losses through early leak detection and monitoring of supply networks achieved using smart metering infrastructure. However, high initial installation and equipment costs pose a challenge for market players to expand consumer base in price-sensitive developing markets. Ongoing technological advancements are focused on developing cost-effective and reliable smart water metering solutions ideal for mass deployment programs undertaken by utilities.


Key Takeaways
The global water meter market is expected to witness high growth over the forecast period of 2024 to 2031. Global Water Meter Market Size for 2024 is estimated to be US$ 25.16 Mn growing at a CAGR of 3.3%.

Regional analysis: Asia Pacific dominates the global water meter market currently and is expected to maintain its leading position over the forecast period. Countries like India and China are major consumers accounting for a large share due to massive ongoing infrastructure development and initiatives for water conservation. North America and Europe are other prominent regional markets driven by replacement of aging infrastructure and adoption of smart metering solutions.

Key players: Key players operating in the water meter market include Eli Lilly and Company, Pfizer, Inc., Novartis AG, Allergan plc, Sun Pharmaceutical Industries Ltd., Aptinyx, Inc., Prismic Pharmaceuticals, Inc., Innovative Med Concepts, Inc., Intec Pharma Ltd., and Astellas Pharma Inc. These companies invest heavily in research and development of advanced meter technologies with improved accuracy and communication capabilities catering to utilities requirements. Partnerships and acquisitions remain important strategies to expand regional presence and offerings. 

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