Smart Water Management Market
Smart Water Management Market - Global Industry Assessment & Forecast
- By Water Meter AMR, AMI
- By Solution Enterprise Asset Management, Network Management, Smart Irrigation
- By Service Professional, Managed
- By End User Commercial & Industrial, Residential
- By Region North America, Europe, Asia Pacific, Middle East & Africa, Latin America
|Forecast Years:||2023 - 2030|
|Historical Years:||2017 - 2021|
|Revenue 2022:||USD 114.82 Billion|
|Revenue 2030:||USD 253.37 Billion|
|Revenue CAGR (2023 - 2030):||10.40%|
|Fastest Growing Region (2023 - 2030)||Asia Pacific|
|Largest Region (2022):||Asia Pacific|
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Global Smart Water Management Market valued at USD 114.82 Billion in 2022 and is projected to attain a value of USD 253.37 Billion by 2030 at a CAGR of 10.40% during the forecast period, 2022–2028.
The Smart Water Management market is growing due to a number of factors. The increasing awareness about the amount of water wasted and its costs is leading more companies to start using Smart Water Management systems. The elimination of manual reporting and its related inefficiencies, along with the ability to monitor progress in real-time are also fueling the demand for such systems.
Smart Water Management Market Size, 2022 To 2030 (USD Billion)
Growing Awareness Among Consumers about Water Conservation to Drive Growth of Smart Water Management Market
The demand for Smart Water Management systems is on the rise as more and more people look to save money, conserve water, and reduce their carbon footprint. The market for these systems came about in response to customer needs. People want to be able to monitor their home's water usage, automate tasks like irrigation schedules, and create reports that detail how much water they had used. Some of the benefits of a smart water system include a reduction in water bill costs, saving time by automating tasks, and a reduced carbon footprint as people use less energy.
Global Smart Water Management Market is Segmented by Water Meter (AMR, AMI), Solution (Enterprise Asset Management, Network Management, Smart Irrigation), Service (Professional, Managed), End User (Commercial & Industrial, Residential), and Region.
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By End Users, Commercial and Industrial Segment to Dominate Smart Water Management Market
The highest adoption of Smart Water Management in Commercial and Industrial establishment is because many buildings have extensive water systems. There are many components to these systems, with some parts being more prone to wear than others. A tool such as Smart Water Management, can help pinpoint these parts and prevent them from failing. It also provides a detailed analysis of water use which helps pinpoint the exact leaks or other issues that may be occurring. Moreover, the adoption of these technologies is having an impact on the environment, with reduced contamination levels and more accessible resources for people.
Asia Pacific to Continue Witnessing Fastest Adoption of Smart Water Management
Asia Pacific is experiencing a significant adoption of water management technology. China and India have both invested heavily in new technologies, which has led to the region not only becoming the world's largest market for smart water meters, but also the world's number one producer of such products. One of the major drivers of this trend has been an increasing population and global warming. In order to ensure that there is enough clean water available, a number of countries have invested in smart water meters and other technology to monitor their water consumption.
IBM (US), Siemens (Germany), Honeywell Elster (US), ABB (Switzerland), Schneider Electric (France), SUEZ (France), Itron (US), Landis+Gyr (Switzerland), Oracle (US), Trimble Water (US), i2O Water (UK), HydroPoint (US), Xenius (India), Takadu (Israel), Neptune Technology (US), AquamatiX (UK), Badger Meter (US), Fluid (US), Lishtot (Israel), Syrinix (UK), Elentec (UK), FREDsense (Canada), CityTaps (France), Fracta (US), and Xylem (US)..
Smart Water Management Market is Segmented as Follows:
Regions & Countries Covered
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
Frequently Asked Question
What is the global demand for Smart Water Management in terms of revenue?
The global Smart Water Management valued at USD 114.82 Billion in 2022 and is expected to reach USD 253.37 Billion in 2030 growing at a CAGR of 10.40%.
Which are the prominent players in the market?
The prominent players in the market are IBM (US), Siemens (Germany), Honeywell Elster (US), ABB (Switzerland), Schneider Electric (France), SUEZ (France), Itron (US), Landis+Gyr (Switzerland), Oracle (US), Trimble Water (US), i2O Water (UK), HydroPoint (US), Xenius (India), Takadu (Israel), Neptune Technology (US), AquamatiX (UK), Badger Meter (US), Fluid (US), Lishtot (Israel), Syrinix (UK), Elentec (UK), FREDsense (Canada), CityTaps (France), Fracta (US), and Xylem (US)..
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 10.40% between 2023 and 2030.
What are the driving factors fueling the growth of the market.
The driving factors of the Smart Water Management include
- The increasing need for insightful approaches to oversee natural water resources with urban areas becoming increasingly smarter and technologically advanced
Which region accounted for the largest share in the market?
Asia Pacific was the leading regional segment of the Smart Water Management in 2022.