With a CAGR of roughly 10.3% between 2023 and 2030, the global smart water management market is expected to grow from its 2022 valuation of $14.01 billion to reach $30.01 billion by the end of 2030.
Smart Water Management Market: Overview
The goal of smart water management is to collect useful and actionable information on the city's water pressure, distribution, and flow. The major goal of smart water management is the efficient management of the water transportation system's infrastructure and energy needs.
In addition, it helps water companies cut down on the amount of energy needed to pump water. It also improves customer engagement in water conservation by decreasing the cost of leak discovery and the amount of water stolen. Specifically, smart water management refers to the implementation of cutting-edge methods to replace conventional water distribution systems.
Smart Water Management Market: Growth Factors
Utilities' Massive Adoption of Smart Water Management Activities to Drive World Market Growth
The global smart water management market is expected to expand because of the rising need to upgrade aging water infrastructure. Global market trends will be determined by the enormous demand for flood protection, delivery storage, automated water treatment, and resource management.
Clean water for customers and affordable repairs and upkeep of water storage reservoirs are also benefits of smart water management. Global market growth will be guided by the enormous interest in smart technology.
Smart Water Management Market: Segmentation
Offering, water metres, end-user, and geography are the main submarkets of the worldwide smart water management market.
The global smart water management market is split into the water metre market, the service market, and the solution market. In addition, the solutions subsegment, which made up the greatest proportion of the global market in 2022, is expected to consolidate its position as the leading subsegment over the course of the forecast period.
Smart Water Management Market: Regional Insights
North America Smart Water Management market to accrue massive returns over the forecast timeframe
North America, which accounted for a major share of the global smart water management market in 2022, is anticipated to continue its dominance over the analysis period. The regional market expansion over 2023-2030 can be due to growing awareness about the benefits offered by smart water management services to the end-users. Massive demand for reducing water wastage, enhancing water quality, and controlling water leakage will expand the growth of the market in the region. The presence of key manufacturers in countries such as the US will contribute sizably towards the expansion of the market in the region.
Smart Water Management Market: Competitive Space
The global smart water management market profiles key participants such as
ABB Limited
Honeywell International Inc
Arad Group
IBM Corporation
Evoqua Water Technologies LLC
GE Digital
Schneider Electric SE
Siemens AG
Itron Inc.
Sensus.
The global smart water management market is segmented as follows:
By Offering
Water Meters
Services
Solutions
By Water Meters
AMR Meters
AMI Meters
By End-User
Commercial Industrial
Residential
By Region
North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East Africa
GCC
South Africa
Rest of The Middle East Africa
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