According to the most recent analysis by Emergent Research, the size of the worldwide smart water management market is anticipated to reach USD 18.90 billion in 2028 and exhibit a consistent CAGR during the projected period.
The demand for fresh, clean water for drinking and other domestic and business uses is on the rise, which is causing an increase in initiatives to implement sustainable water management systems. In many developing nations, the use of smart water management solutions is on the rise due to the decreasing supply of accessible, affordable, and clean water and the improvement of sewerage treatment and processing services.
The implementation of Internet of Things (IoT) technology to monitor infrastructure, water resources, and the environment is expanding, which is boosting demand for related products and the growth of the smart water management market. IoT sensors with higher performance and lower cost are becoming more widely available, which is helping to fuel the growth in demand for smart water management systems. By enhancing water conservation, repairing and replacing aging infrastructure, responding better to climate change and extreme weather events, and protecting the environment and public health, smart water management technologies offer several advantages.
Key findings in the report
The Willingboro Municipal Utilities Authority collaborated with Schneider Electric and approved an energy savings improvement program in January 2021. 13,000 AMI water meters are anticipated to be installed as part of the new project, which will replace the current, inefficient manual meter reading system.
In 2020, the solution segment accounted for the greatest revenue share. The solutions market is predicted to develop as a result of increasing usage of real-time predictive maintenance and asset conditioning monitoring.
Revenue in the residential segment is anticipated to grow at a quick CAGR throughout the forecast period. The use of smart water management systems is anticipated to increase with the introduction of cutting-edge sensor-based IoT devices and software platforms that assist in reducing water usage and managing water leaks in residential buildings by tracking real-time flow.
In 2020, North America contributed the greatest revenue share to the global market for smart water management. The region’s countries are increasingly implementing smart water management solutions in the residential, commercial, and industrial sectors as a result of growing awareness of the region’s limited freshwater supplies.
ABB, IBM, Honeywell Elster, Siemens, Itron, Schneider Electric, SUEZ, Oracle, Landis+Gyr, and SENSUS are significant market participants.
Emergen Research has segmented the global smart water management market based on offering, end-use, and region:
Offering Outlook (Revenue, USD Billion; 2018–2028)
- Professional Services
- Managed Services
- Distribution Network Monitoring
- Meter Data Management
- Asset Management
- Supervisory Control and Data Acquisition (SCADA)
- Smart Irrigation Management
- Water Meters
- AMI Meters
- AMR Meters
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Commercial & Industrial
Regional Outlook (Revenue, USD Billion; 2018–2028)
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
Rest of MEA
Check Global Smart Water Management Market Research Report in Details