According to the research report titled ‘UK Smart Water Meter Market Forecast 2027 By Product, By Application, By Technology, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, UK smart water meter market size is expected to witness commendable growth by 2027.

Growing usage of advanced technologies such as IoT, high emphasis on accurately measuring water consumption at utilities, buildings, and homes, rising awareness regarding using water judiciously and opting for the metering device to conserve the natural resource, and ability of the product to offer precise billing and remote reading are some of the major factors driving the growth of the UK smart water meter market.

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Apart from this, the UK government is launching several strategies and initiatives to support the deployment of smart metering devices as well as laying down strict rules and standards to control and monitor the Non-Revenue Water (NRW) rate, thereby paving the way towards the market expansion.

As per product terrain, the market is bifurcated into hot water and cold-water segments. Among these, the cold-water segment is expected to gain traction over the forecast timeline, due to the increasing demand for effective water conservation, rising management solutions in residential and commercial areas, introducing advanced technologies to digitize water distribution systems, and development of innovative water infrastructure.

Moving on to the technology spectrum, the market is divided into AMI and AMR segments. Out of these, AMI segment is expected to hold a major market share over the forecast period, on account of its ability to provide reliable & accurate meter readings, real-time data on water consumption, and decreased labor costs, as well as a long battery life, optimized process, and incorporates an advanced design.

Meanwhile, the AMR segment is anticipated to grow steadily through 2027, owing to readily available devices, low installation and maintenance costs, efficient design, accurate sensing technology, and a wide range of IoT-based applications.

Based on application scope, the market is fragmented in terms of residential, commercial, and utility. Among these, the residential segment is anticipated to grow exponentially through the analysis period, ascribed to growing awareness among consumers regarding managing water consumption rate, launch of innovative water monitoring systems, and increasing investments by the government to develop and advance water supply infrastructure.

Some of the leading companies operating in the UK smart water meter market are Zenner International GmbH & Co.KG., Diehl Metering, Apator S.A., Siemens AG, Kamstrup Water Metering L.L.C, and Itron Inc., among many others.