If you've followed the arguments supporting the build out of a smarter electric grid, the

·         Increasing demand for water itself

·         Aging system infrastructure

·         The need for water utilities to operate their systems more efficiently

The need to conserve scarce water supplies and to reduce high levels of non-revenue water are also fueling growth, according to Pike which expects the global installed base of smart water meters to almost triple in the next five years, from 10.3 million in 2011 to nearly 30 million by 2017.

And the Boulder-based research firm isn't the only one suggesting that the smart water meter market is primed for growth:

·         An April, 2012 forecast from TechNavio analysts has the global smart water meter market experiencing a CAGR of 15 percent over the period 2011-2015. A key factor contributing to the growth, according to TechNavio, will be government efforts to control water usage. Advances in smart water meter technology are also cited. However, TechNavio analysts say high costs could pose a challenge to growth.

·         IMS Research expects the advanced water metering market to continue increasing its product share, particularly in North America.

According to Nicole Juarez, the author of The World Market for Water Meters – 2011: "North America already has a high penetration of advanced metering. While one-way meters continue to have higher unit shipments than two-way meters currently, in North America, higher growth is forecast for two-way meters over the next five years. The price of two-way meters are gradually becoming comparable to traditional mobile read meters, and when reviewed against possible labor cost savings; utilities are increasingly realizing that purchasing two-way meters (even ahead of fixed network infrastructure) is currently justifiable."

·         The European smart meter market could see strong double-digit growth over the next 10-15 years, according to a Frost & Sullivan forecast. F&N predicts the market for smart water meters and related services will be at least $13 billion by 2020, with the UK, France and Germany leading the way. vergence opportunity to participate in the global drive for carbon footprint reduction, increased efficiencies and strategic decision making. The European market is no exception as water utilities look to run smarter and smoother distribution systems”. vergence opportunity to participate in the global drive for carbon footprint reduction, increased efficiencies and strategic decision making. The European market is no exception as water utilities look to run smarter and smoother distribution systems”. Frost & Sullivan’s Research Analyst Seth Cutler explains: “The smart water metering market presents a significant industry convergence opportunity to participate in the global drive for carbon footprint reduction, increased efficiencies and strategic decision making. The European market is no exception as water utilities look to run smarter and smoother distribution systems”.

F&N research analyst Seth Cutler explained: The smart water metering market presents a significant industry convergence opportunity to participate in the global drive for carbon footprint reduction, increased efficiencies and strategic decision making. The European market is no exception as water utilities look to run smarter and smoother distribution systems”"The smart water metering market presents a significant industry convergence opportunity to participate in the global drive for carbon footprint reduction, increased efficiencies and strategic decision making. The European market is no exception as water utilities look to run smarter and smoother distribution systems."