Smart water meters are rapidly becoming an integral component of both residential and industrial buildings. This is because these systems not only allow the users to track and monitor their water consumption but also help in checking the water expenses regularly. Moreover, these devices allow the users to check the readings in the building premises itself. In addition to their ability to keep water expenses under control in residential settings, smart water meters also assist majorly in curbing the loss of revenue, which is mainly caused because of the loss of water during its supply.

While the developed countries record water losses of nearly 20% of the total supplied water, the developing nations register losses of more than 50% of the supplied water. These huge losses cause sharp decline in revenue generation, thereby negatively impacting the growth of the water supplying companies. As a result, these companies are increasingly adopting smart water meters for tracking and identifying the water leaks and spillages in the entire water delivery network. Furthermore, many governments, especially those of several European countries, are enacting various regulations for reducing the operational expenditure of the water supplying organizations.

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One such major policy is the Water Framework Directive (WFD), which was recently implemented by the European Union (EU) for limiting the revenue losses of the water organizations. The smart water meter industry in Wales and England is being driven by such water management policies. The development of advanced metering infrastructure (AMI) is another important factor fueling the sales of smart water meters. AMI provides improved two-way communication and rapid alerts regarding potential leaks, owing to which, it is becoming highly popular in the water utilities sector.

Hence, with the growing utilization of smart water meters, the global smart water meter market will register huge expansion in the coming years. Fluidic oscillator meters, velocity meters, positive displacement meters, single-jet meters, multi-jet meters, and electromagnetic meters are the most widely used types of smart water meters across the globe. Out of these, the usage of the positive displacement meters was recorded to be significantly high during the last few years. However, in the future years, the popularity of the electromagnetic meters will be higher throughout the globe.