Global NB-IoT Water Meters Market was valued at USD 0.3 Billion in 2022 and is projected to reach USD 0.8 Billion by 2030, growing at a CAGR of 14.0% from 2024 to 2030.
The NB-IoT (Narrowband Internet of Things) water meters market is experiencing significant growth, driven by the increasing demand for efficient water management solutions and the rapid adoption of smart city initiatives worldwide. As urbanization accelerates, the need for advanced water metering technologies becomes more critical to ensure sustainable water usage and conservation.
NB-IoT technology offers several advantages that make it ideal for smart water metering applications. Its low power consumption, extensive coverage, and deep penetration capabilities enable reliable data transmission even in challenging environments. This ensures accurate and real-time monitoring of water usage, facilitating prompt leak detection and efficient resource management.
In Spain, notable developments highlight the growing adoption of NB-IoT water meters. In July 2023, Vodafone secured a €25 million contract to supply 315,000 NB-IoT water meters to Canal de Isabel II, the water utility serving the Madrid region. This initiative aims to enhance water conservation efforts and improve operational efficiency through real-time data collection and analysis. Similarly, in February 2022, Telefónica partnered with Canal de Isabel II to deploy up to 650,000 NB-IoT water meters over three years, further underscoring the commitment to modernizing water infrastructure in the region.
Globally, the market for NB-IoT water meters is projected to experience substantial growth. According to a report by DataIntelo, the market size was valued at approximately USD 320 million in 2023 and is expected to reach around USD 1.2 billion by 2032, reflecting a robust compound annual growth rate (CAGR) of 15.5% during the forecast period. This growth is attributed to the increasing emphasis on sustainable water management practices and the integration of advanced technologies in water utilities.
Technological advancements in NB-IoT chipsets are also contributing to market expansion. Companies like HiSilicon have developed NB-IoT smart water meter solutions that offer enhanced coverage, deep penetration, and energy efficiency. These innovations enable utilities to deploy smart meters more effectively, ensuring reliable data collection and transmission across diverse environments.
In summary, the NB-IoT water meters market is poised for significant growth, driven by technological advancements, increasing urbanization, and a global focus on sustainable water management. The integration of NB-IoT technology in water metering solutions offers numerous benefits, including real-time monitoring, leak detection, and efficient resource management, all of which are essential for developing sustainable and smart water infrastructure.
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Suntront Technology
Sanchuan Wisdom
Laison Technology
Hanwei
Ningbo Water Meter
Changde Water Meter
Kamstrup
Jiangxi Baichuan Wate Meter
CHINT
JOYO
Diehl Metering
Itron
QingDao iESLab
Wasion Group
Shenzhen Huaxu
Jiangsu Saida
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global NB-IoT Water Meters Market
Residential
Industrial
Commercial
Based on Types the Market is categorized into Below types that held the largest NB-IoT Water Meters market share In 2023.
Common Water Meters
Valve-Controlled Water Meter
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Global, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global NB-IoT Water Meters Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global NB-IoT Water Meters Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global NB-IoT Water Meters Market, By Type
6. Global NB-IoT Water Meters Market, By Application
7. Global NB-IoT Water Meters Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global NB-IoT Water Meters Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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