MarkWide Research

444 Alaska Avenue

Suite #BAA205 Torrance, CA 90503 USA

+1 310-961-4489

24/7 Customer Support

All our reports can be tailored to meet our clients’ specific requirements, including segments, key players and major regions,etc.

Smart Water Management Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2024-2032

Published Date: April, 2024
Base Year: 2023
Delivery Format: PDF+ Excel
Historical Year: 2017-2023
No of Pages: 263
Forecast Year: 2024-2032
SKU b57e16cfc062 Category

Corporate User License

$3,450.00

Smart water management refers to the implementation of advanced technologies and solutions to monitor and manage water resources more efficiently. It involves the use of sensors, data analytics, and communication technologies to track water usage, detect leaks, and optimize the water supply system. The smart water management market is expected to grow significantly in the coming years, driven by the increasing demand for water, growing urbanization, and the need to reduce water losses.

Water scarcity is becoming an increasingly critical issue globally, and it is expected to worsen in the coming years due to population growth, climate change, and increasing water demands from industries, agriculture, and urban areas. The traditional approach to water management, which relied on manual readings and inspections, is no longer sufficient to address these challenges. Smart water management solutions offer a more efficient, cost-effective, and sustainable way to manage water resources.

Executive Summary:

The smart water management market is expected to grow at a CAGR of 12.4% during the forecast period (2021-2026). The market is driven by several factors, including the increasing demand for water, growing urbanization, and the need to reduce water losses. The market is also influenced by the adoption of advanced technologies such as artificial intelligence, machine learning, and the Internet of Things (IoT) to optimize water management. The Asia-Pacific region is expected to lead the market growth due to the increasing population, rapid urbanization, and growing water scarcity.

Smart Water Management Market

Key Market Insights:

  • The global smart water management market is expected to reach $16.7 billion by 2026.
  • The market is expected to grow at a CAGR of 12.4% during the forecast period (2021-2026).
  • The Asia-Pacific region is expected to lead the market growth due to the increasing population, rapid urbanization, and growing water scarcity.
  • The key players in the market include IBM Corporation, General Electric Company, Schneider Electric SE, Siemens AG, and Honeywell International Inc.

Market Drivers:

  • Increasing Demand for Water: The global demand for water is expected to increase by 55% by 2050, driven by population growth, urbanization, and industrialization. This has created a need for more efficient water management solutions to meet the increasing demand.
  • Growing Urbanization: The global urban population is expected to increase from 55% in 2018 to 68% by 2050. Urban areas face unique water management challenges, including water loss, leakage, and contamination. Smart water management solutions offer a more efficient and effective way to manage water resources in urban areas.
  • Need to Reduce Water Losses: The global water loss rate is estimated to be around 30%, resulting in significant economic and environmental costs. Smart water management solutions can help reduce water losses by detecting leaks, optimizing water distribution, and improving water-use efficiency.

Market Restraints:

  • High Initial Cost: The implementation of smart water management solutions involves high capital expenditure, which can be a barrier for small and medium-sized enterprises. The high cost of implementation may also discourage some organizations from adopting smart water management solutions.
  • Lack of Awareness and Technical Expertise: Many organizations lack awareness of the benefits of smart water management solutions and may not have the technical expertise required to implement these solutions. This can be a barrier to adoption, particularly in developing countries.

Market Opportunities:

  • Growing Adoption of IoT and Cloud-Based Technologies: The adoption of IoT and cloud-based technologies is expected to accelerate the growth of the smart water management market. These technologies can help improve data collection and analysis, enabling organizations to optimize water usage, detect leaks, and reduce water losses.
  • Increasing Focus on Water Conservation: The growing awareness of the need to conserve water resources is expected to create significant opportunities for smart water management
Market Dynamics:

The smart water management market is influenced by several factors, including technological advancements, government regulations, and environmental concerns. The market is characterized by intense competition, with several players offering a wide range of solutions and services. The market is also fragmented, with several small and medium-sized enterprises offering specialized solutions.

Regional Analysis:

The smart water management market is expected to grow significantly in the Asia-Pacific region due to the increasing population, rapid urbanization, and growing water scarcity. The region is also characterized by several water-stressed areas, making it an attractive market for smart water management solutions. North America and Europe are also expected to see significant growth due to the increasing focus on water conservation and the adoption of advanced technologies.

Competitive Landscape:

The smart water management market is characterized by intense competition, with several players offering a wide range of solutions and services. The key players in the market include IBM Corporation, General Electric Company, Schneider Electric SE, Siemens AG, and Honeywell International Inc. These players are focusing on product innovation, strategic partnerships, and mergers and acquisitions to gain a competitive edge.

Segmentation:

The smart water management market is segmented based on component, solution, service, and application. The component segment includes hardware, software, and services. The solution segment includes asset management, network monitoring, advanced analytics, and others. The service segment includes professional services and managed services. The application segment includes residential, commercial, industrial, and others.

Category-wise Insights:

Hardware is expected to dominate the component segment of the smart water management market due to the increasing adoption of sensors and meters to monitor water usage. The network monitoring solution is expected to dominate the solution segment due to the increasing need to detect leaks and optimize water distribution. The professional services segment is expected to dominate the service segment due to the high demand for consulting and implementation services.

Key Benefits for Industry Participants and Stakeholders:

  • Improved Water Management: Smart water management solutions offer a more efficient and effective way to manage water resources, leading to improved water management.
  • Reduced Water Losses: Smart water management solutions can help reduce water losses by detecting leaks, optimizing water distribution, and improving water-use efficiency.
  • Cost Savings: Smart water management solutions can help organizations save costs by reducing water losses, improving operational efficiency, and avoiding fines and penalties for non-compliance.
  • Environmental Sustainability: Smart water management solutions can help reduce the environmental impact of water usage by improving water-use efficiency and reducing water waste.

SWOT Analysis:

Strengths:

  • Advanced technologies and solutions for efficient water management.
  • Growing demand for water and increasing focus on water conservation.
  • Increasing adoption of IoT and cloud-based technologies.

Weaknesses:

  • High initial cost and lack of awareness and technical expertise.
  • Fragmented market with several small and medium-sized enterprises.

Opportunities:

  • Growing adoption of IoT and cloud-based technologies.
  • Increasing focus on water conservation.

Threats:

  • Intense competition and price pressure.
  • Uncertainty in government regulations and policies.

Market Key Trends:

  • Increasing adoption of IoT and cloud-based technologies.
  • Growing focus on water conservation and environmental sustainability.
  • Increasing use of data analytics and artificial intelligence in water management.

Covid-19 Impact:

The Covid-19 pandemic has had a significant impact on the smart water management market, with several organizations facing operational and financial challenges. However, the pandemic has also highlighted the importance of efficient water management and the need for more resilient and sustainable water systems. The pandemic has accelerated the adoption of advanced technologies such as IoT and cloud-based solutions, which are expected to drive the growth of the smart water management market in the post-pandemic period.

Key Industry Developments:

  • In 2020, SUEZ launched Aquadvanced Urban Analytics, an advanced analytics solution for water utilities to optimize water distribution and reduce water losses.
  • In 2020, Xylem launched a new version of its decision intelligence platform, which uses artificial intelligence and machine learning to optimize water management.
  • In 2020, Sensus introduced a new smart water sensor to detect leaks and improve water-use efficiency.

Analyst Suggestions:

Industry analysts suggest that the smart water management market will continue to grow in the coming years, driven by the increasing demand for water, growing urbanization, and the need to reduce water losses. They also recommend that players in the market focus on product innovation, strategic partnerships, and mergers and acquisitions to gain a competitive edge.

Future Outlook:

The smart water management market is expected to grow significantly in the coming years, driven by the increasing demand for water, growing urbanization, and the need to reduce water losses. The market is also expected to be influenced by the adoption of advanced technologies such as artificial intelligence, machine learning, and the Internet of Things (IoT) to optimize water management. The Asia-Pacific region is expected to lead the market growth due to the increasing population, rapid urbanization, and growing water scarcity.

Conclusion:

The smart water management market offers a more efficient, cost-effective, and sustainable way to manage water resources in the face of increasing water demand, growing urbanization, and climate change. The market is expected to grow significantly in the coming years, driven by the adoption of advanced technologies such as artificial intelligence, machine learning, and IoT.

Industry players and stakeholders can benefit from improved water management, reduced water losses, cost savings, and environmental sustainability by adopting smart water management solutions. The market is characterized by intense competition and fragmentation, making product innovation, strategic partnerships, and mergers and acquisitions essential for gaining a competitive edge.

Smart Water Management Market:

Segmentation Details
Offering Solutions, Services
Solution Advanced Metering Infrastructure (AMI), Network Monitoring & Control, Meter Data Management, Others
Service Consulting, Managed Services
Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Leading Companies in the Smart Water Management Market:

  1. IBM Corporation
  2. Schneider Electric SE
  3. Siemens AG
  4. Itron, Inc.
  5. ABB Ltd.
  6. Sensus (Xylem Inc.)
  7. Honeywell International Inc.
  8. Badger Meter, Inc.
  9. Arad Group
  10. Kamstrup A/S

North America
o US
o Canada
o Mexico

Europe
o Germany
o Italy
o France
o UK
o Spain
o Denmark
o Sweden
o Austria
o Belgium
o Finland
o Turkey
o Poland
o Russia
o Greece
o Switzerland
o Netherlands
o Norway
o Portugal
o Rest of Europe

Asia Pacific
o China
o Japan
o India
o South Korea
o Indonesia
o Malaysia
o Kazakhstan
o Taiwan
o Vietnam
o Thailand
o Philippines
o Singapore
o Australia
o New Zealand
o Rest of Asia Pacific

South America
o Brazil
o Argentina
o Colombia
o Chile
o Peru
o Rest of South America

The Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Israel
o Kuwait
o Oman
o North Africa
o West Africa
o Rest of MEA

Important Questions Covered in this Study

Why Choose MWR ?

Quality Research

Our goal is to provide high-quality data that stimulates growth and creates a win-win situations.

Unlimited User Access

We offer Corporate User license access on all our reports in which you can share the report with your entire team without any restrictions.

Free Company Inclusion

We give you an option to include 3-4 additional company players of your choice in our report without any extra charges.

Post Sale Assistance

Unlimited post sales service with an account manager dedicated to making sure that all your needs are met.

Covid-19 Impact Analysis

All our research report includes latest Covid-19 Impact and its analysis.

Client Associated with us

GET A FREE SAMPLE REPORT

This free sample study provides a complete overview of the report, including executive summary, market segments, competitive analysis, country level analysis and more.

Client Testimonials

GET A FREE SAMPLE REPORT

This free sample study provides a complete overview of the report, including executive summary, market segments, competitive analysis, country level analysis and more.

error: Content is protected !!
Scroll to Top

444 Alaska Avenue

Suite #BAA205 Torrance, CA 90503 USA

+1 424 360 2221

24/7 Customer Support

Download Free Sample PDF
This website is safe and your personal information will be secured. Privacy Policy
Request for Discount
This website is safe and your personal information will be secured. Privacy Policy
Speak to Analyst
This website is safe and your personal information will be secured. Privacy Policy

Download Free Sample PDF