Smart Water Management Market, By Water Meter, By Solution, By Service, By End-Use, By Country, and By Region - Industry Analysis, Market Size, Market Share & Forecast from 2023-2030
Smart Water Management Market size was valued at USD 15,100.3 Million in 2022, expanding at a CAGR of 12.5% from 2023 to 2030.
Smart water management involves the integration of advanced technologies to monitor, analyze, and optimize water distribution and consumption. Utilizing sensors, data analytics, and communication networks, it enables real-time monitoring of water quality, leakage detection, and infrastructure performance. Smart meters provide consumers with insights into their water usage, encouraging conservation. Additionally, predictive analytics and automation streamline water distribution, reducing waste and enhancing overall efficiency. This approach leverages digital solutions to address the challenges of water scarcity, aging infrastructure, and environmental sustainability, ensuring intelligent and sustainable management of water resources for both urban and rural areas.
"Smart Water Management Market- Market Dynamics
Increasing demand for Quality water services across the globe propels market growth
Currently, water resources are under significant pressure in most countries. The world's population is rapidly increasing, and if current practices continue, it is estimated that by 2030, there will be a 40% shortfall between the projected demand for water and the available supply. Additionally, as temperatures rise, the demand for water will further increase, while the availability of fresh water in certain regions may decline, leading to intensified competition for the remaining resources. Fortunately, advancements in water treatment technologies, smart water systems, and data analytics have greatly improved the efficiency of Smart Water Management processes. These innovations have attracted investments from both the public and private sectors, as they seek to modernize water infrastructure. The growing demand for Smart Water Management services has created investment opportunities in various areas, including infrastructure development, water treatment technologies, and smart water solutions. According to the World Health Organization, as of 2022, 73% of the global population (6 billion people) had access to a safely managed drinking water service. This means that they have access to clean water on their premises, it is available when needed, and it is free from contamination. Furthermore, the increasing investments in water infrastructure projects, such as the construction and renovation of water treatment plants, distribution networks, and sewage systems, present opportunities for companies that offer Smart Water Management solutions. However, it is important to note that operating in the Smart Water Management market can be challenging due to the stringent and complex regulatory frameworks that companies must navigate.
Smart Water Management Market- Key Insights
As per the analysis shared by our research analyst, the global Smart Water Management Market is estimated to grow annually at a CAGR of around 12.5% over the forecast period (2023-2030)
The Smart Water Management Market is projected to grow at a significant rate due to the Increasing demand for Quality water services across the globe
Based on Water Meter segmentation, AMR was predicted to show maximum market share in the year 2022
Based on End-Use segmentation, Commercial & Industrial is expected to witness the fastest growth
On the basis of region, North America was the leading revenue generator in 2022
Smart Water Management Market- Segmentation Analysis:
The Global Smart Water Management Market is segmented on the basis of Water Meter, Solution, Service, End-Use, and Region.
The market is divided into two categories based on Water Meter: AMR, and AMI. In 2022, the AMR segment accounted for a substantial share of market sales. AMR technology allows remote, automated collection of water consumption data from meters. This enhances efficiency in billing, reduces manual errors, and enables real-time monitoring of water usage patterns. The demand for AMR solutions is driven by the need for accurate data, operational optimization, and the overall advancement of water management practices, contributing to sustainable and intelligent water resource management.
The market is divided into two categories based on End-Use: Commercial & Industrial, Residential. the Commercial & Industrial segment accounted for a substantial share of market sales. Municipal authorities in developing and developed nations are responsible for water supply and distribution, which is directly managed by the government sector. The absence of privatization in the water industry creates difficulties with the efficiency of the water delivery system. The absence of continuous public sector oversight of smart H2O delivery networks throughout the globe has culminated in a high frequency of leaking and H2O loss events.
Smart Water Management Market- Geographical Insights
Geographically, this market is widespread across various regions including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided based on the countries involved in business activities. The growth of the market is expected to be dominated by North America, primarily due to the increasing concerns regarding water scarcity. The region's strong focus on addressing water scarcity through effective Smart Water Management strategies positions it as a significant player in the global Smart Water Management market. The growing concerns about water scarcity in this region drive the necessity for implementing efficient Smart Water Management practices such as conservation, recycling, and the exploration of alternative water sources. According to Water World Magazine, if the water supply in the United States decreases, the demand is projected to increase. With a rising level of concern about water scarcity among Americans nationwide, 74% of respondents agreed that more action should be taken in their communities to conserve water. Surprisingly, in the Northwest and Northeast regions, water scarcity emerged as the top climate-related concern for 45% and 53% of respondents, respectively. The survey, which involved 2,000 Americans, aimed to gauge their attitudes towards climate change and water scarcity. In the forecast period, Asia Pacific is expected to drive the demand for the market, primarily due to the increasing number of smart cities in the region.
Smart Water Management Market- Competitive Landscape:
The sector of industrial Smart Water Management is a constantly changing and complex market that is influenced by consumer demands and technological advancements. For instance, Xylem and Grundfos, companies that focus on water infrastructure, pumps, and related equipment, are competing fiercely to provide effective and reliable solutions for water transportation and distribution. To improve their abilities, broaden their range of products, and enter new markets, companies in this field frequently participate in strategic mergers and acquisitions. Success in this evolving industry is achieved by companies that can adjust to shifting market dynamics, integrate innovative technologies, and tackle the challenges of water scarcity.
Recent Developments:
On May 23, 2023, Lummus Technology, a renowned supplier of process technologies and energy solutions, has recently entered into an agreement with Siemens Energy to procure assets from their water solutions portfolio. These assets include intellectual property, copyrights, trade secrets, and research and development properties. The acquired technologies cater to the water and wastewater requirements of the oil and gas industry, utilizing carbon adsorption, biological treatment, and hydrothermal processes.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL SMART WATER MANAGEMENT MARKET KEY PLAYERS
ABB
Elster Group SE
IBM Corporation
Itron
General Electric
Global Water Management
i2O Water Ltd
Siemens
SUEZ
TaKaDu
Neptune Technology Group
Schneider Electric
SENSUS USA INC
Oracle Corporation
Radius Synergies International Pvt Ltd
SAP SE
SenzIoT
Trimble Water
GLOBAL SMART WATER MANAGEMENT MARKET, BY WATER METER
AMR
AMI
GLOBAL SMART WATER MANAGEMENT MARKET, BY SOLUTION
Enterprise Asset Management
Analytics and data management
Security
Advanced pressure management
Network Management
Smart Irrigation Management
Customer information system and billing
Other
GLOBAL SMART WATER MANAGEMENT MARKET, BY SERVICE
Professional
Consulting services
System integration and deployment services
Support and maintenance services
Managed
GLOBAL SMART WATER MANAGEMENT MARKET, BY END-USE
Commercial & Industrial
Residential
GLOBAL SMART WATER MANAGEMENT MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA
Table of Contents
1. Smart Water Management Market Overview
1.1. Study Scope
1.2. Market Estimation Years
2. Executive Summary
2.1. Market Snippet
2.1.1. Smart Water Management Market Snippet by Water Meter
2.1.2. Smart Water Management Market Snippet by Solution
2.1.3. Smart Water Management Market Snippet by Service
2.1.4. Smart Water Management Market Snippet by End-Use
2.1.5. Smart Water Management Market Snippet by Country
2.1.6. Smart Water Management Market Snippet by Region
2.2. Competitive Insights
3. Smart Water Management Key Market Trends
3.1. Smart Water Management Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Smart Water Management Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Smart Water Management Market Opportunities
3.4. Smart Water Management Market Future Trends
4. Smart Water Management Industry Study
4.1. PEST Analysis
4.2. Porter's Five Forces Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. Smart Water Management Market: COVID-19 Impact Analysis
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. Smart Water Management Market Landscape
6.1. Smart Water Management Market Share Analysis, 2022
6.2. Breakdown Data, by Key Manufacturer
6.2.1. Established Players' Analysis
6.2.2. Emerging Players' Analysis
7. Smart Water Management Market - By Water Meter
7.1. Overview
7.1.1. Segment Share Analysis, By Water Meter, 2022 & 2030 (%)
7.1.2. MR
7.1.3. AMI
8. Smart Water Management Market - By Solution
8.1. Overview
8.1.1. Segment Share Analysis, By Solution, 2022 & 2030 (%)
8.1.2. Enterprise Asset Management
8.1.3. Analytics and data management
8.1.4. Security
8.1.5. Advanced pressure management
8.1.6. Network Management
8.1.7. Smart Irrigation Management
8.1.8. Customer information system and billing
8.1.9. Other
9. Smart Water Management Market - By Service
9.1. Overview
9.1.1. Segment Share Analysis, By Service, 2022 & 2030 (%)
9.1.2. Professional
9.1.3. Consulting services
9.1.4. System integration and deployment services
9.1.5. Support and maintenance services
9.1.6. Managed
10. Smart Water Management Market - By End-Use
10.1. Overview
10.1.1. Segment Share Analysis, By Solution, 2022 & 2030 (%)
10.1.2. Commercial & Industrial
10.1.3. Residential
11. Smart Water Management Market- By Geography
11.1. Introduction
11.1.1. Segment Share Analysis, By Geography, 2022 & 2030 (%)
11.2. North America
11.2.1. Overview
11.2.2. Smart Water Management Key Manufacturers in North America
11.2.3. North America Market Size and Forecast, By Country, 2018 - 2030 (US$ Million)
11.2.4. North America Market Size and Forecast, By Water Meter, 2018 - 2030 (US$ Million)
11.2.5. North America Market Size and Forecast, By Solution, 2018 - 2030 (US$ Million)
11.2.6. North America Market Size and Forecast, By Service, 2018 - 2030 (US$ Million)
11.2.7. North America Market Size and Forecast, By End-Use, 2018 - 2030 (US$ Million)