Non-Magnetic Narrowband-Internet of Things (NB-IoT) Water Meter Market Report 2026

The non-magnetic narrowband-internet of things (nb-iot) water meter market size has grown rapidly in recent years. It will grow from $1.08 billion in 2025 to $1.24 billion in 2026 at a compound annual growth rate (CAGR) of 15.5%. The growth in the historic period can be attributed to expansion of urban water infrastructure digitization, rising demand for accurate billing systems, early adoption of ultrasonic metering technology, growth of smart city initiatives, availability of low-power iot networks.

The non-magnetic narrowband-internet of things (nb-iot) water meter market size is expected to see rapid growth in the next few years. It will grow to $2.18 billion in 2030 at a compound annual growth rate (CAGR) of 15.2%. The growth in the forecast period can be attributed to increasing investments in smart utility infrastructure, rising regulatory mandates for water efficiency, expansion of real-time water monitoring, growing adoption of retrofit smart meters, increasing focus on non-revenue water reduction. Major trends in the forecast period include increasing deployment of smart water metering systems, rising adoption of non-magnetic flow measurement, growing use of real-time consumption monitoring, expansion of nb-iot communication networks, enhanced focus on leak detection and accuracy.

The rising concerns over water scarcity are expected to drive the growth of the non-magnetic narrowband Internet of Things (NB-IoT) water meter market in the coming years. Water scarcity refers to the lack of sufficient available water to meet the needs of humans, agriculture, industry, or the environment. This challenge is intensifying due to population growth, as increasing populations elevate water demand for drinking, agriculture, and industrial activities, often surpassing available freshwater resources. Non-magnetic NB-IoT water meters help address water scarcity by enabling precise monitoring and management of water consumption, detecting leaks in real time, and promoting efficient usage. These functions reduce wastage and ensure the optimal distribution of limited water resources. For instance, in March 2024, according to the United Nations Environment Programme (UNEP), a Kenya-based environmental authority, about 1.8 billion people are projected to experience conditions of absolute water scarcity by 2025, as reported by the Food and Agriculture Organization (FAO). Therefore, the growing concerns over water scarcity are fueling the expansion of the non-magnetic NB-IoT water meter market.

Key companies operating in the non-magnetic NB-IoT water meter market are focusing on advancing technologies such as meter data management to enhance the accuracy, efficiency, and reliability of water consumption monitoring. Meter data management (MDM) is a technology solution that facilitates the collection, processing, and storage of meter readings, ensuring data accuracy, supporting analytics, and improving utility operations. For example, in May 2023, Itron Inc., a US-based technology company, advanced the digital transformation of water utilities in Australia and New Zealand through the expansion of its Temetra platform and the introduction of its AMI Essentials solution. This non-magnetic NB-IoT water meter enables precise and remote monitoring of water usage through digital connectivity and operates on a flexible cloud platform compatible with various meter types and suppliers. The technology helps utilities reduce manual effort, detect leaks promptly, and improve water conservation measures. It also ensures accurate billing, decreases unaccounted-for water losses, and promotes efficient and sustainable water management.

In April 2024, Suez SA, a France-based utility company, partnered with Vodafone Group Public Limited to implement IoT-based smart water management solutions. The partnership aims to accelerate the global deployment of more than two million NB-IoT-connected smart water meters by 2030, with the goal of reducing water wastage by up to 15 percent through real-time remote monitoring, leak detection, and data-driven water management. Vodafone Group Public Limited is a UK-based telecommunications company that provides non-magnetic narrowband Internet of Things (NB-IoT) water meters.

Major companies operating in the non-magnetic narrowband-internet of things (nb-iot) water meter market are Honeywell International Inc., Diehl Metering, Kamstrup, Itron Inc., Landis+Gyr AG, Wasion Holdings Ltd., Badger Meter Inc., SUNTRONT Tech Co. Ltd., Apator S.A., ZENNER International GmbH & Co. KG, Baylan Water Meters, Arad Group PLC, Master Meter Inc., B Meters Srl, Linyi City Bei Quan Water Meter, Hidroconta SA, Kaifeng Shengda Water Meter Co. Ltd., QingDao iESLab, Xinkong Electronics (Xinkelec), Sanchuan Water Meter Co. Ltd., Neptune Technology Group Inc., Aclara Technologies LLC, Mueller Water Products Inc., Datamatic Inc.

North America was the largest region in the non-magnetic narrowband-internet of things (NB-IoT) water meter market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the non-magnetic narrowband-internet of things (nb-iot) water meter market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the non-magnetic narrowband-internet of things (nb-iot) water meter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The non-magnetic narrowband-internet of things (NB-IoT) water meter market consists of sales of data concentrators, smart valves or actuators, and IoT sensors. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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