Market Size –
The smart water management market size has grown rapidly in recent years. It will grow from $15.13 billion in 2023 to $17.51 billion in 2024 at a compound annual growth rate (CAGR) of 15.7%. The growth in the historic period can be attributed to aging water infrastructure, increased awareness and public demand for efficient water management, increased urbanization and smart city initiatives, rising demand for a significant reduction in loss due to nonrevenue water, increased awareness about water wastage.
The smart water management market size is expected to see rapid growth in the next few years. It will grow to $31.02 billion in 2028 at a compound annual growth rate (CAGR) of 15.4%. The growth in the forecast period can be attributed to growing investment in smart cities, increasing adoption of smart water management systems, funding and incentives, climate change impact, remote monitoring and control. Major trends in the forecast period include artificial intelligence (AI) and machine learning (ml), internet of things (iota) and connectivity, augmented reality (AR) and virtual reality (VR), cloud-based solutions, remote sensing and satellite technology.
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Scope Of Smart Water Management Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Smart Water Management Market Overview
Market Drivers –
The increase in demand for clean water due to the increasing global population is likely to drive the growth of the smart water management market. As the population grows, there will be greater demand for water for domestic, industrial, agricultural, and municipal purposes. The importance of clean water for health, food and nutrition security has been highlighted during COVID-19. Smart water management systems can help to accelerate response plans by identifying vulnerable food value chains, including market locations, and critical areas, and designing tailored and prioritized interventions to improve access to clean water in urban, peri-urban, and rural areas. For instance, according to IntechOpen, a UK-based publisher of open books and journals report, the world’s population is expected to reach 8.6 billion by 2030 and 9.8 billion by 2050. Further, as per UN World Water Development Report, global water demand is expected to grow 1% every year, accounting for an increase of 20 to 30% by the end of 2050, attributing to rising demand from domestic and industrial sectors.
The smart water management market covered in this report is segmented –
1) By Offering: Water Meters, Solutions, Services
2) By Product Type: Advanced Water Meters , Meter Read Technology, Cellular Network
3) By End User: Residential, Commercial, Industrial
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Regional Insights –
North America was the largest region in the smart water management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart water management market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the smart water management market include Honeywell International Inc., Siemens Aktiengesellschaft, ABB Ltd., International Business Machines Corporation., Itron Inc., Schneider Electric SE, SUEZ Group SA, Sensus USA Inc., Trimble Inc., Elentec Co. Ltd., HydroPoint Data Systems Inc., TaKaDu Ltd., AquamatiX Limited, Nalco Water India Limited, Xenius GmbH, Xylem Inc., Badger Meter Inc., A. O. Smith Corporation, Aclara Technologies LLC, IDEX Corporation, Mueller Water Products Inc., Kamstrup A/S, Elster Group SE, Landis+Gyr Group AG, Echologics Engineering Inc., Neptune Technology Group Inc., Innovyze Inc., Aquatic Informatics Inc., Syrinix Ltd., Zenner International GmbH & Co. KG, WaterSmart Software Inc., Utilis Corp.
Table of Contents
1. Executive Summary
2. Smart Water Management Market Report Structure
3. Smart Water Management Market Trends And Strategies
4. Smart Water Management Market – Macro Economic Scenario
5. Smart Water Management Market Size And Growth
…..
27. Smart Water Management Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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