SMART WATER MANAGEMENT MARKET: SUMMARY
The Global Smart Water Management Market is projected to reach a value of over USD 33.8 Billion by 2027 at a CAGR of around 15.4%.
Smart water management refers to the devices, software, technology, and services that are operated to manage water & wastewater utilities efficiently. Also, it is a process to collect, share, and analyze data from water networks and water equipment. Moreover, it provides a more resilient and efficient water supply system, which reduces cost and improves sustainability. The smart water management solutions help in efficient monitoring of the water supply & proper billing of the consumption.
Moreover, Smart water management solution providers are offering smart water technologies to help users in managing the shortage of water.
SMART WATER MANAGEMENT MARKET: DRIVERS & CHALLENGES
- Highly Adoption for the Internet of Things (IoT)
The technological advancements enable water operators to proactively control and manage
distribution systems and enhance efficiency, which is expected to favorably impact on the market. It helps to advance the water industries by smart irrigation process and water conservation process. Moreover, the IoT sensors are projected to determine the weather condition as well as the soil moisture which will benefit the operation efficiency and help to reduce cost. Furthermore, it can also detect and calculate the amount of chemical balance present in the water.
Hence, the high adoption of the Internet of Things (IoT) is anticipated to increase the growth of the market in the forecast period.
- Increasing Cloud-Based Solution
The increasing cloud-based solutions helps to monitor the distribution network which may lead to enhance the demand of the market during projected period. Moreover, an intelligent urban water supply management provides water assets to the cloud services platform to improve analytics, operational efficiency, safety, and service availability of the overall system. It can also help to detect the quality of water and give a real-time solution. Furthermore, a smart irrigation system uses wireless technologies and cloud-based analytics which can help the framers to control the irrigation damage by determining the weather condition.
Therefore, cloud computing has led to the development and enhanced the new applications based on highly innovative which will grow the market in the forecast period.
- Lack of Awareness for Smart Equipment
Due to a lack of awareness about smart equipment, smart technology, the user is not able to manage and operate it properly. Moreover, for the framer it is very difficult to adopt the new technology due to lack of skills and knowledge about the product. Furthermore, due to low connectivity in many developing countries which may also hamper the market growth. The lack of understanding about any equipment may increase in the risk factor which can impact the environment growth.
SMART WATER MANAGEMENT MARKET: KEY SEGMENTS
- Based on Solution: Analytics and Data Management, Security, Smart Irrigation Management, Mobile Workforce Management, Network Management, and Others
- Based on Services: Professional Services and Managed Services
- Based on End-User: Commercial and Industrial, Residential and Utility
- Based on Devices: Advanced Water Meters, Mater Read Technology, and Cellular Network
- Based on Technology: Advanced Metering Infrastructure (AMI) and Automated Metering Reading (AMR)
- Segmentation based on region covers: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis
SMART WATER MANAGEMENT MARKET: REPORT SCOPE
The report on the smart water management market covers a deep dive analysis of historic, recent and current market trends. furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2020-2027 (2020 estimated year, forecasted up to 2027)
Value (USD Million)
Solution, Services, End-User, Devices, technology, and Region
North America, Asia-Pacific, Europe, Middle East & Africa, South America
KEY COMPANIES COVERED
- Siemens (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- IBM Corporation
- Itron Inc.
- Schneider Electric
- Suez SA
- Huawei Technologies Co., Ltd.
- Other Key Companies
SMART WATER MANAGEMENT MARKET: REPORT SEGMENTATION
For the scope of the report, In-depth segmentation is offered by Forencis Research
Smart Water Management Market, by Solution
- Analytics and Data Management
- Smart Irrigation Management
- Mobile Workforce Management
- Network Management
Smart Water Management Market, by Services
- Professional Services
- Managed Services
Smart Water Management Market, by Devices
- Advanced Water Meters
- Mater Read Technology
- Cellular Network
Smart Water Management Market, by Technology
- Advanced Metering Infrastructure (AMI)
- Automated Metering Reading (AMR)
Smart Water Management Market, by End-User
Smart Water Management Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
KEY QUESTIONS ANSWERED BY THE REPORT
- What are the important developments affecting the market globally and its growth?
- What will be the impact of the developments in the market on the industry and on the market competitor in the future?
- What are the evolving variations of the market worldwide?
- What are the evolving functions of the market worldwide?
- What is the important condition that will affect market growth globally during the study period?
- Who are the major players operating in the market across the globe?
- How are the major players leveraging in the present market scenario worldwide?
- Smart Water Management Market Providers
- Smart Water Management Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Smart Water Management Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE SMART WATER MANAGEMENT MARKET STUDY