According to the Navigant Research report, smart water network infrastructure will continue to be slowly upgraded until 2023, when growth will accelerate, according to the analysts’ forecast. Old, inefficient meters will be replaced by automated meter reading (AMR) and, eventually, advanced metering infrastructure (AMI) meters.

By 2025, the total smart water meter installed base is expected to exceed 1.3 billion meters. The increasing installed base will promote the growth of other smart water technologies like network monitoring and control devices, data management systems, and robust communications infrastructure.

Global revenue from smart water networks is projected to grow from $2.6 billion in 2016 to $7.2 billion in 2025, the report says.