The smart water management systems enable a more efficient and robust water supply system, Besides, it helps in improving sustainability and reduce overall costs such as infrastructural and other operational costs.
The global Smart Water Management market worth USD 24.49 Billion by 2030, growing at a CAGR of 11.2%
The advanced technological solutions in smart water management include supervisory control and data acquisition (SCADA) systems, sensors, digital meters, geographic information systems (GIS), and others. In addition, the smart water management systems help in collecting and transmitting the data in real-time. Hence, the data includes water quality, water supply, and flow, environmental data, and other asset management data.
The global smart water management market size is anticipated to reach over USD 19 billion by 2025. This can be attributed to the growing need to replace outdated water infrastructure. Also, the growing need for sustainable water solutions is a key factor in boosting the global smart water management market growth.
However, the lack of a skilled workforce is expected to hamper the market growth. Furthermore, the growing smart city initiatives are expected to be opportunistic for the market in the forthcoming years.
Smart Water Management Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2030||USD 24.49 Billion|
|Growth Rate||CAGR of 11.2 % during 2022-2030|
|Segment Covered||By Offering, By End-User , Region.|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Honeywell, Schneider Electric, Huawei, ABB, Siemens, Itron, Sensus, and AquamatiX Ltd.|
Key Segment Of The Smart Water Management Market
By Offering, 2022-2030 (USD Million)
• Water Meters
By End-User, 2022-2030 (USD Million)
• Commercial and Industrial
Regional Overview, 2022-2030 (USD Million)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
Smart technologies are disrupting every sector, industries, companies/organizations, and even households. However, smart technology is changing legacy wastewater and water systems into interconnected, intelligent, and instrumented systems. Hence, the interconnection incorporates interaction and communication between managers and operators. The intelligent system enables the capability of analysis, troubleshooting, and initiating a response. Also, the instrumentation provides the ability to measure, sensing, detecting, and recording of the data. Hence, such capabilities are driving the demand for smart water management solutions globally.
Meter Type Segment
Based on the meter type segment, the market is divided into AMI and AMR. In 2019, the AMR segment gathered the highest market revenue and it is anticipated to govern the smart water management market throughout the forecast period. However, the Advanced Metering Infrastructure (AMI) segment is likely to gather the major growth rate during the forecast period.
Based on the solutions, the market is segmented into advanced pressure management, enterprise asset management, advance analytics, advanced pressure management, leak detection, and others. The enterprise asset management segment leads the market growth in 2019 and it is projected to do hold its position throughout the forecast period. The growth of this segment is mainly attributed to the increasing need to manage water systems and ensure the operation of water networks. Also, increasing the need to reduce water losses is driving the market growth of this segment.
End Users Segment
In terms of end-users, the market is separated into residential and commercial. In 2019, the commercial segment gathered the highest market revenue and it is anticipated to dominate the smart water management market throughout the forecast period. On the contrary, the residential segment is expected to gather the highest growth rate throughout the forecast period. The increasing urbanization is the key factor driving the market growth of this segment.
The North America region dominated the overall market in 2019 and it is expected to maintain its position throughout the forecast period 2018-2025. The dominance of this region mainly ascribed to the existence of major market players. However, the Asia-Pacific region is anticipated to see the highest growth during the forecast period. The growth of smart water management systems is mainly attributed to the aging infrastructure and adoption of IoT & connected technologies in this region.
The major players of the global smart water management market are Honeywell Elster, IBM, Huawei Technologies, i2O Water, Oracle, Siemens, Landis+Gyr, ABB, Badger Meter, and Schneider Electric. Moreover, the other potential players in the smart water management market are Trimble Water, Sensus, Suez, Itron, and HydroPoint. The recognized companies are coming up with innovative and new smart water management solutions. For instance, in February 2019, IBM and The Freshwater Trust (TFT) partnered to restore and protect freshwater ecosystems. The goal of this partnership is to measure groundwater usage in real-time with the help of IoT sensors and blockchain.