Water utilities forecast to propel growth with global smart meter revenue to reach US$14bn by 2026

Water and gas meter shipments will see double-digit revenue growth over the next five years. If this market forecast comes true it will be welcome news in a market where smart electricity shipments are contracting and greatly slowing growth of overall revenues across the entire metering segment. According to ABI Research, energy and water utility meter installations will result in annual shipments of 151 million smart meters in 2018 and will grow at a compound annual growth rate (CAGR) of 3.2% to reach 193 million units by 2026. The figures come from ABI Research, a market-foresight advisory firm providing strategic guidance on transformative technologies. Energy utilities drove market demand for smart meters in 2018, however, future demand will be driven by water utilities. Regionally, the Asia Pacific followed by Europe and North America are currently the largest markets for smart meter shipments and will continue to be throughout the forecast period. There’s a significant price pressure for lower cost smart meters in the Asia Pacific and Europe regions that is slowing revenue growth over the forecast period.