Description

In the last 5 years, Europe has faced unprecedented weather disruptions caused by factors attributed to climate change. Drought and heat waves have caused water stress across Europe and led most European countries to adopt and implement water conservation policies. Policies that focus on water infrastructure's digital transformation, the reduction of per capita water consumption, and the reduction of NRW losses are embedded into respective countries' larger net-zero or circular economy goals. Smart water metering has been the first point of investment to enable water conservation and improve water sustainability through conservation. The demand for smart water metering will grow significantly due to favorable policies in most parts of Europe. Some countries, including Spain, Italy, and the United Kingdom, will witness exponential growth in the next 2-5 years, primarily due to dedicated funding for smart water metering systems. Other countries, such as Germany, France, Benelux, Greece, and Poland, are also witnessing a good adoption rate, fueled by the need for water conservation, smart city investments, and sustainability-related improvements. LPWAN solutions, such as NB-IoT and LoRa, will witness significant adoption due to cost-effectiveness and Network-as-a-Service (NaaS)-based offerings, which utilities find profitable. The smart water metering solutions industry in Europe is expected to grow at a compound annual growth rate (CAGR) of 7.4% from 2023 to 2030 and reach a revenue of $2.26 billion in 2030. The key industry segments this study presents are smart water meters, network solutions, meter data management (MDM) and customer information system (CIS) billing solutions, customer engagement portal (CEP) and data analytics solutions, and design and engineering and project management services.

Author: Paul Hudson