The growing need to replace outdated water infrastructure is driving the growth of the smart water management market
The global smart water management market size is anticipated to reach over USD 19 billion by 2025. In addition, it is expected to exhibit a CAGR of nearly 12% during the forecast period 2020-2025. Smart water management is an advanced technology that is used to gather, examine, and share data from water networks and equipment in real-time. Also, it is used by water operators and managers to preserve water, forecast equipment failure, reduce energy usage, safeguard regulatory compliance, and find leaks.
The existing and future smart water management market developments are defined to define the attractiveness of the market. Key impacting factors highlight the growing need to replace outdated water infrastructure.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.
The report also highlights numerous aspects of the global smart water management industry by evaluating the market through value chain analysis. Besides, the smart water management market report covers various qualitative aspects of the smart water management industry in market drivers, restraints, and key industry opportunities. Furthermore, the report offers a complete assessment of the market competitiveness along with company profiling of local as well as global vendors.
The smart water management market has strong competition among the pre-established and new emerging players. Also, the smart water management industry players are targeting prospective markets to capture a competitive advantage over the other industry players by forming agreements, mergers & acquisitions, acquiring new startups & other companies, forming collaboration and partnerships, and expanding their business presence.
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 expected to do so 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.
The Asia-Pacific region is anticipated to experience the highest growth throughout 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. However, the North America region dominated the overall market in 2019 and it is expected to uphold its position throughout the forecast period 2018-2025. The dominance of this region mainly attributed to the existence of major market players. However,
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.
Segment Overview of Global Smart Water Management Market
Meter Type Overview, 2018-2025 (USD Billion)
Solutions Overview, 2018-2025 (USD Billion)
- Advanced Pressure Management
- Enterprise Asset Management
- Advanced Analytics
- Advanced Pressure Management
- Leak Detection
End Users Overview, 2018-2025 (USD Billion)
Regional Overview, 2018-2025 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America