Transparency Market Research (TMR) announced earlier this week that the smart water management market will reach US$15.23 billion by 2019 – with a staggering CAGR of 17.7% for the 2012-2019 period.
Similarly, Markets and Markets announced in April that the smart water metering market – which is only one component of the overall smart water management market – will be worth US$5.51 billion by 2021, at a CAGR of 7.23% from 2016 to 2021.  This projection correlates well with the TMR data, which indicated that the meters & accessories segment accounted for about 40% of the smart water management market in 2012 and is expected to retain this position throughout the forecast period.
Market Drivers and Constrainers
The reports cite the following factors as driving the dramatic growth of the smart water management market:
- Aging water infrastructures (especially in North America)
- Need to reduce non-revenue water
- Consumer demand for accurate billing
- Government programs across the globe encouraging the deployment of smart water technologies
- Strict environmental standards being put in place by water regulators
On the other hand, growth will be somewhat constrained by:
- The data security concerns of water utilities – who are the primary end-users of smart water solutions.
- The high cost of deploying AMI fixed-network solutions. That having been said, it is expected that the AMI segment will grow at a faster rate during the forecast period than the currently prevailing AMR segment.
Where will the market grow the most?
As far as geographies of interest are concerned, North America dominates the smart water metering market, but Europe is expected to grow at the fastest pace during the forecast period. When it comes to the broader smart water management market, North America still dominates (47.5% in 2012) but Asia Pacific will emerge as the fastest-growing smart water management market, displaying a 23.7% CAGR between 2013 and 2019.
 Global Smart Water Management Market to Exhibit 17.7% CAGR from 2013 to 2019, Transparency Market Research, June 13, 2016
 Smart Water Metering Market Worth 5.51 Billion USD by 2021, April 29, 2016, Markets and Markets
 Smart Water Metering Market Worth USD 5.51 Billion by 2021 – Focus on Water Monitoring in North America, Research and Markets, May 27, 2016