Digital Water Meters Market Size & Share [2033]

Q: What was the value of the Digital Water Meters market in 2024?

In 2025, the Digital Water Meters market value stood at USD 2.36 Million.

Digital Water Meters Market Overview

The Digital Water Meters Market size was valued at USD 2.36 million in 2025 and is expected to reach USD 4.56 million by 2033, growing at a CAGR of 8.57% from 2025 to 2033.

The Digital Water Meters Market reached an estimated US $7.46 billion in 2023, with shipments exceeding approximately 140 million units worldwide that year. By the close of 2024, the market expanded to around US $8.01 billion, encompassing growth in residential, commercial-industrial, and municipal segments. Over 1.06 billion smart meters (covering water, electricity, gas) were installed globally by the end of 2023, underlining the expansion of digital meter deployments. Unit shipments for smart water meters alone reached 46.24 million in 2024 and are slated to approach 52 million by 2025.

Ultrasonic meters led the market in 2023, holding the largest share among all digital technologies. In terms of connectivity, wired solutions achieved US $4.2 billion in 2024 while wireless segments reached about US $3.8 billion. Regional distribution in 2023 reported North America as the top-performing region, followed by Europe and Asia-Pacific, with APAC accounting for roughly 39 percent of the market. These figures highlight robust installation density, diversified technology adoption, and regional leadership in digital water metering.

Key Findings

Driver: Deployment of over 1 billion smart utility meters globally, enabling enhanced water conservation and accurate billing.

Top Country/Region: North America led global digital water meter adoption in 2023, with shipments valued around US $4.2 billion.

Top Segment: Ultrasonic meters dominated in 2023 by market share and unit volume among all digital water-meter types.

Digital Water Meters Market Trends

The digital water meters sector witnessed a notable scaling in shipment volumes and technology penetration through 2024. A total of 46.24 million smart water-meter units were shipped globally in that year, with projections to exceed 52 million units in 2025. Concurrently, the number of smart utility meters installed worldwide surpassed 1.06 billion by end-2023—a figure that includes water, electricity, and gas metering devices. Electromagnetic and ultrasonic digital meters are at the forefront of this growth. In 2024, electromagnetic meters represented approximately 60.4% of overall smart-water-meter market share, while ultrasonic units accounted for over US $12 billion in product revenues in the same year. That year, wired digital meters generated about US $4.2 billion, and wireless counterparts reached an estimated US $3.8 billion. Residential metering remains the dominant application, capturing nearly 40% of global smart-water-meter usage in 2023. Meanwhile, industrial and utility-grade applications are advancing as grid-wide infrastructure upgrades accelerate. Regionally, North America accounted for 46% of smart water-meter installations in 2024.

Asia‑Pacific emerged as the volume leader in unit shipments that same year, with over 51.96 million units expected by 2025. Europe stood out in electrical meter deployments—the electromagnetic segment being strongest there at 60.4% share. Advances in IoT integration are key: connectivity modules leveraging LPWAN, 4G, and 5G technologies are contributing to real‑time monitoring and remote meter reading. In Australia, TPG’s 10-year agreement targets installation of 1 million digital meters using 4G SIM connectivity and analytic platforms. Pressure, acoustic, and temperature sensors are being embedded in units to detect leaks and optimize system performance. Emerging digital water initiatives are underway worldwide. In early 2025, Chennai, India began deploying 100,000 smart meters in large residential properties—up from prior legacy mechanical meter operations. Such trends showcase a shift toward efficiency, transparency, and conservation through data‑driven water infrastructure.

Digital Water Meters Market Dynamics

DRIVER

Rising global installation of smart utility meters.

With over 1.06 billion smart meters deployed by end‑2023, water‑meter technologies are benefiting from broader utility digitization trends. That installation volume acts as a catalyst: water‑meter manufacturers shipped 46.24 million units in 2024, with momentum pointing to 52 million in 2025. This driver is amplified by measurable benefits—typical water loss reductions of 10–20%, billing accuracy improvements of up to 30%, and operational expense declines through remote data capture and leak detection. Widespread adoption in North America (46% share in 2024) and accelerating projects in Asia‑Pacific reinforce the infrastructure expansion driving supply and demand. The scaling effect is driving economies and network roll‑outs by utilities worldwide.

REST RAINT

Limited battery lifespan in smart meters.

Most smart water meters operate on battery systems with a typical life span of 7–8 years, according to industry guidelines. Frequent replacements entail technician visits, annual inspections, and component costs—collectively increasing lifecycle expenditure. In low-power regions or remote utilities, elevated replacement frequency imposes logistical and financial challenges. Though newer LPWAN and low-consumption designs aim to push lifetimes to 10+ years, current deployment cycles remain constrained by battery dependency and maintenance resources. Extended downtime during battery swaps further restricts full adoption in regions with sporadic utility funding.

OPPORTUNITY

Upgrading legacy infrastructure through AMI and analytics.

Utilities in developed nations are modernizing old systems. In Victoria, Australia, TPG will connect and manage 1 million smart-water-meters over 10 years. In Chennai, 100,000 new units were commissioned in the first phase of rollout. This wave of replacements presents opportunity for meter manufacturers, LPWAN suppliers, and software integrators. Enhanced metering infrastructure (AMI) and analytics can reduce non-revenue water by 10–25%, justify investments, and open cross-selling of data services. The deployment of pressure, acoustic, and AI-based leak detection sensors further enhances offering value.

CHALLENGE

Connectivity gaps and infrastructure mismatch.

Signal issues in regions with weak wireless coverage impede real-time meter reading. Fragmented utility landscapes—combining municipal, private, rural, and urban operators—create inconsistent technical standards and implementation roadmaps. Interoperability between legacy SCADA systems and new digital meters remains problematic. Integration costs average between US $150–200 per meter in connective infrastructure. Additionally, data security structures for large-scale distributed sensing systems require investment in encryption, networks, and cybersecurity—factors that limit deployment in areas lacking digital utility maturity.

Digital Water Meters Market Segmentation

The digital water meters market divides along two main segmentation lines: by meter type and by application. These segments demonstrate distinctive usage patterns and technology preferences.

By Type

Ultrasonic meters: Non-mechanical units with no moving parts; 2024 shipments topped 12 million units with over US $12 billion generated. Deployed widely in Europe and Asia, they are valued for accuracy in ranges from residential to large distribution systems. Real‑time monitoring sensors (acoustic, pressure) cost between US $150–200 per unit.
Electromagnetic meters: Represented 60.4% of smart-water-meter revenues in 2024. Common in North America and municipal water grids, typical budgets range from US $120–180 per meter. These are preferred for clean water and sewage networks due to wide flow compatibility.
Smart mechanical meters: Traditional mechanical flowmeters enhanced with digital modules (LPWAN, RF). In 2024, mechanical meter upgrades accounted for around US $4 billion in global market spend. Favored in residential buildings and retrofit programs, these offer cost-effective entry points for utilities unable to fully replace hardware.

By Application

Residential water metering: Largest segment in 2023, constituting ~40% of unit shipments. In Chennai, the initial rollout of 100,000 residential units demonstrates the urban household focus.
Industrial water usage: Gaining traction due to demand for precise process monitoring; around 20% of new system deployments in 2024 included ultrasonic meters in industrial manufacturing plants.
Utilities (municipal/commercial): The fastest growing application, representing over 46% share of installations in North America in 2024. Infrastructure contracts, such as 1 million meters in Victoria, reduce non‑revenue water and boost water security via analytics.

Digital Water Meters Market Regional Outlook

Global performance in digital water metering varies by region, driven by infrastructure investment, regulation, and technology readiness.

North America

Dominating smart water-meter deployments with a 46% share in 2024. Electromagnetic technologies led unit shipments, and utilities across the U.S. replaced mechanical meters with digital units—US intelligent-meter market stood at US $3.95 billion in 2024. AMI rollouts backed by public funds are driving replacement cycles.

Europe

Home to extensive ultrasonic-meter use; ultrasonic systems represented over US $12 billion in sales in 2024. Electromagnetic water meters held 60.4% share globally, with Europe contributing heavily to that figure. Market is supported by stringent efficiency standards and urban infrastructure renovation.

Asia‑Pacific

Held the highest unit-volume shipments in 2025—51.96 million units expected. India’s Chennai initiated 100,000 smart meter installations in 2025. China deployed over 75 million smart water meters by 2024 under “Digital China” efforts. Utilities in APAC are replacing aging mechanical systems amid water scarcity concerns.

Middle East & Africa

Presently smaller in scale, but undergoing pilot modernization. In 2023–24, MEA investments rose due to government-funded upgrades—MEA market recorded rapid growth within a US $23.7 billion global smart meter market. Some African urban zones began embedding pressure/acoustic sensors in municipal pipelines to address water loss.

List of Top Digital Water Meters Companies

Arad Group (Israel)
Badger Meter (USA)
Diehl Stiftung & Co. KG (Germany)
Itron Inc. (USA)
Kamstrup A/S (Denmark)
Sensus (Xylem Inc.) (USA)
Axioma Metering (Lithuania)
Apator SA (Poland)
Honeywell International (USA)
Maddalena S.P.A (Italy)

Itron Inc.: A leading US-based provider of intelligent water-metering solutions; held over 74% of the smart-meter market share among top eight competitors in 2023 and embedded acoustic and LPWAN modules in more than 1 million units.

Badger Meter: US-headquartered innovator; acquired Trimble’s remote monitoring line in January 2024 and supplied over 1 million digital meter units featuring 4G connectivity during 2024.

Investment Analysis and Opportunities

Investment in the digital water meters market has intensified globally, driven by smart infrastructure programs, government-backed utility upgrades, and the need to address rising water scarcity through advanced monitoring. As of 2024, global unit shipments of digital water meters reached approximately 46.24 million, reflecting growing adoption across urban and industrial sectors. Projections for 2025 indicate an increase to more than 52 million units, with utilities and municipalities committing large-scale capital for advanced metering infrastructure (AMI). In North America, which accounted for 46% of global digital water meter installations in 2024, more than 20 regional utilities have initiated AMI rollouts. Pinellas County in Florida, for example, upgraded over 72,000 meters between 2023 and 2024, targeting both potable and reclaimed water systems. In Asia-Pacific, unit volume is projected to reach 51.96 million units in 2025, largely driven by national-level investments such as India’s initiative to install 100,000 smart water meters in Chennai’s residential areas. Meanwhile, Australia’s South East Water secured a 10-year deployment plan with TPG Telecom to roll out 1 million meters, installing up to 200,000 units annually. Each meter is equipped with 4G SIM connectivity and data analytics capability, with installation time averaging just 10 minutes and unit cost ranging from US $150 to $200.

These figures demonstrate a strong return on investment potential, especially when factoring in non-revenue water reductions of 10%–20% and labor cost savings from remote meter reading and leak detection. In Europe, the expansion of ultrasonic meters—over 12 million units sold in 2024 alone—signals sustained investment in precision metering and regulatory compliance across municipalities. Venture capital is also flowing into companies innovating in blockchain-based metering platforms, AI-enhanced analytics, and predictive maintenance software. Blockchain-integrated meters, capable of processing over 80 transactions per second with <2 seconds of latency, are being piloted in rural regions with low bandwidth infrastructure. Additionally, public-private partnerships are emerging to fund digital twin water management systems that simulate real-time flow dynamics, supported by data from smart meters. Investment opportunities are particularly strong in retrofitting programs, prepaid metering for developing regions, and smart city initiatives requiring multi-utility integration. Governments and development banks are increasingly supporting digital water metering in line with climate resilience and sustainability goals. As smart metering transitions from a utility upgrade to a digital infrastructure asset, the sector is experiencing an infusion of strategic capital aimed at accelerating deployment, expanding connectivity, and modernizing water networks on a global scale.

New Product Development

New product development in the digital water meters market has gained momentum with manufacturers introducing innovative metering systems embedded with advanced communication technologies and real-time monitoring capabilities. In 2023, Diehl Stiftung & Co. KG launched an upgraded version of its HYDRUS ultrasonic water meter, designed for higher accuracy and extended lifespan. Production of this new model ramped up significantly by September 2024, incorporating modular components and reducing quality assurance cycles by nearly 30%. Similarly, Sensus, a Xylem brand, introduced its next-generation ultrasonic water meter in 2023 with improved flow measurement sensitivity and real-time data relay every 15 seconds, facilitating efficient leak detection and consumption profiling. The new Sensus units are compatible with multiple networks including 4G, LoRaWAN, and NB-IoT. In May 2023, Laison unveiled a prepaid ultrasonic smart water meter at the Enlit Africa exhibition, equipped with a dynamic range above R250 and integrated GSM, GPRS, NB-IoT, and LoRa modules. This solution enables remote disconnection, automated billing, and flexible prepaid recharge features, meeting the growing demand for autonomous utility control in emerging markets. In December 2024, Avnet partnered with Huizhong to install a specialized testing lab for the SCL61H-100 ultrasonic smart meters in Melbourne.

These meters, featuring acoustic and vibration sensors, enabled South East Water to save over 683 million liters of household water and 140 million liters of network water through AI-powered leak detection over a 12-month period. Another major innovation came from TPG Telecom, which initiated the deployment of 1 million digital water meters across Victoria, Australia in August 2024. Each meter, equipped with embedded 4G SIM cards and cloud-based analytics, is installed in less than 10 minutes and supports real-time consumption tracking. On the analytics front, companies are integrating blockchain and AI for secure and scalable data processing. For instance, hybrid blockchain-IPFS architectures now allow faster storage and retrieval of consumption logs, while LSTM-based AI models support anomaly detection with latency under 2 seconds and transaction speeds of over 80 operations per second. Additionally, digital twin platforms are being developed to simulate entire water distribution systems, enhancing predictive maintenance capabilities. These advancements underscore a shift from passive data collection to intelligent, autonomous metering ecosystems. The evolution of digital water meters now aligns with smart city initiatives, reducing water loss, lowering operational costs, and driving sustainability, making product innovation a central growth pillar in the global digital water meter market.

Five Recent Developments

Diehl HYDRUS Expansion: Production of the new ultrasonic HYDRUS meter launched in June 2023 and scaled into production by September 2024, reducing testing time significantly by 30%.
Avnet Rolls Melbourne Test Lab: In December 2024 Avnet set up a dedicated lab in Bayswater, Australia, testing Huizhong SCL61H-100 ultrasonic meters—enabling 683 million liters of household water saved and 140 million liters through network leak monitoring in 2023–24.
Laison Prepaid Ultrasonic Launch: May 2023 saw Laison launch its prepaid ultrasonic meter with integrated credit-based shutoff and IoT modules (NB‑IoT/LoRa), debuted at Enlit Africa to promote remote recharge and monitoring.
TPG’s 1 Million 4G‑Connected Meters: August 2024 contract for million‑meter rollout in Victoria, Australia. Roll-out rate is ~200,000/year, with per-meter cost US $150–200 and installations taking 10 minutes each.
Pinellas County AMI Deployment: Spring 2023 Pinellas County (Florida, USA) began full-scale digital meter upgrades covering both potable and reclaimed water. By December 2024 around 72,000 meters had been replaced (~92% of their network).

Report Coverage of Digital Water Meters Market

The Digital Water Meters Market report provides a comprehensive evaluation of the global ecosystem surrounding the deployment, adoption, and evolution of advanced water metering technologies. This market spans three primary meter types: ultrasonic meters, electromagnetic meters, and smart mechanical meters, all of which are analyzed based on production volume, installation density, operational functionality, and communication compatibility. In 2024, global shipments of digital water meters reached approximately 46.24 million units, and forecasts for 2025 anticipate a surge beyond 52 million units, highlighting the continuous global shift toward digitalized water infrastructure. The report details the performance and differentiation of each type, with ultrasonic meters surpassing 12 million units in annual shipments, while electromagnetic meters captured 60.4% of the technological share in 2024, especially in municipal installations. Coverage extends to application areas, including residential, industrial, and utility deployments, with residential metering alone accounting for nearly 40% of global installations in 2023. Regionally, the report covers performance across North America, Europe, Asia-Pacific, and the Middle East & Africa, revealing North America’s dominant position with 46% of global installations in 2024, and Asia-Pacific leading unit volume growth with expected shipments of 51.96 million units in 2025. A critical aspect of the report is its detailed analysis of communication protocols, highlighting the adoption of LPWAN, NB-IoT, LoRaWAN, 4G SIM, and wired networks, all pivotal in enabling remote meter reading and real-time data transmission.

The report also examines the integration of sensor-based technologies, such as acoustic, temperature, vibration, and pressure modules, which support advanced leak detection and flow analysis. These capabilities have led to documented savings of over 683 million liters of water in utility networks, according to recent implementation cases. Additionally, the study delves into challenges related to limited battery life, high infrastructure integration costs, and interoperability constraints between digital meters and legacy SCADA systems. It outlines significant opportunities such as infrastructure replacement, prepaid metering, and integration of AI-based predictive analytics and blockchain-enhanced security frameworks. Major ongoing rollouts are documented, including the installation of one million 4G-connected meters in Victoria, Australia, and the replacement of 72,000 meters in Florida's Pinellas County. Finally, the report profiles leading market players such as Itron Inc. and Badger Meter, which account for significant market share based on unit volume, connectivity features, and smart platform integration. The extensive scope of this report offers decision-makers the data-driven insights required to assess market positioning, future demand, product innovation, and strategic investment priorities in the global digital water meters sector.