The report, entitled “Water Meters: Global Market and Forecast 2013–2018,” predicts that the global water meter market will be worth more than $3 billion in 2018, compared to $2.62 billion in 2014.
The authors said that smart meters would gradually take a share of the total market by value, increasing from 13% currently to 18% in five years, reaching an installed base of some $120–130 million.
“As issues of water scarcity and continuity of supply become more acute, and demands on water supplies from agriculture, industry and residential use become increasingly unsustainable in many parts of the world, intelligent metering at all levels of the water distribution system has to be part of the solution,” said StatPlan director Euan Blauvelt.
“Because domestic use is often a relatively small element of demand, a focus on residential metering has a substantially smaller impact on water conservation.”
Blauvelt added that by using advanced metering for irrigation water a saving of some 20% could be achieved.