Water Meter Market Growth Accelerated by Advancements in Smart Metering Technologies
Water Meter Market Water meters are devices used to measure the amount of water that passes through a water distribution system from the main source to consumer systems. They are essential components in monitoring water usage and billing across residential, commercial, and industrial sectors. Advancements in smart metering technologies have enabled real-time monitoring and analysis of water consumption patterns. Smart water meters integrate communication technologies that wirelessly transmit meter readings to utilities for monitoring usage. They help utilities detect leaks and reduce non-revenue water losses. The global Water Meter Market is estimated to be valued at US$ 25.16 Mn in 2024 and is expected to exhibit a CAGR of 3.3% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: The increasing adoption of smart water metering systems across utilities is a major trend fueling growth of the water meter mar