The global demand for Smart Water Management Market is presumed to reach the market size of nearly USD 41.2 MN by 2028 from USD 15.3 MN in 2021 with a CAGR of 15.2% under the study period 2022 - 2028.
Smart water management is a water management system that collects valuable and actionable data about a city's water flow, pressure, and distribution. It uses innovative technologies to revolutionize traditional water distribution. It helps to reduce water waste and make better use of energy. Its primary objective is to ensure that the infrastructure and energy utilized to transport water are effectively controlled. Because of rising water shortages and the global need for water conservation, smart water management is the next big thing. Water management that blends contemporary technologies with traditional water transportation is smart water management.
Market Dynamics
Rapid urbanization places enormous pressure on water utilities to provide reliable and consistent water supply and related services; rapid adoption of advanced technologies for innovating smart solutions to address the growing water industry challenges; rising concern for sustainable living prompts governments around the world to develop regulations and laws to reduce water consumption, and developing water treatment solutions are just a few of the significant drivers of the smart water management market. Factors such as increased water scarcity and rising demand for water conservation are projected to emerge as essential drivers of the smart water management market's growth. Furthermore, the rising worldwide smart city activities and the pressing need to replace aging water infrastructure will boost the development of the smart water management market over the forecast period. The market is predicted to grow as demand for sustainable water solutions grows and reduce water loss due to non-revenue water. Increased government initiatives to implement smart water management and increase technological advancements in water and wastewater treatment, such as advanced metering technology and Supervisory Control and Data Acquisition (SCADA), are expected to propel the smart water management market forward. The market's expansion is also likely to be impeded by high costs and a lack of experienced people to implement innovative solutions.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of smart water management. The growth and trends of smart water management industry provide a holistic approach to this study.
Market Segmentation
This section of the smart water management market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Services
- Value Management
- Pipeline Condition Assessment
- Hydrant Management
- Information Management
By Solutions
- Enterprise Asset Management For Water And Wastewater Utilities
- Network Monitoring
- Advanced Pressure Management
- Supervisory Control And Data Acquisition
- Advance Analytics
- Meter Data Management
- Residential Water Efficiency
- Smart Irrigation Management Systems
By Devices
- Advanced Water Meters
- Amr Water Meters
- Ami Water Meters
- Mater Read Technology
- Cellular Network
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Smart Water Management market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Smart Water Management Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the smart water management market include Siemens (Germany), IBM (US), ABB (Switzerland), Honeywell Elster (US), Schneider Electric (France), Itron (US), SUEZ (France), Oracle (US), Landis+Gyr (Switzerland), Trimble Water (US), HydroPoint (US), i2O Water (UK), Xenius (India), Neptune Technology (US), Takadu (Israel), Badger Meter (US), AquamatiX (UK), Fluid (US), Lishtot (Israel), Elentec (UK), Syrinix (UK), CityTaps (France), FREDsense (Canada), Fracta (US), and Xylem (US). This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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