Global Smart Water Management Market

The Global Smart Water Management market was valued at USD 13.8 billion, and it is expected to grow USD 22.4 billion by 2027, with a CAGR of 10.1% in the forecast period of 2021. The growing drivers of water management include the increase of urbanization and the pressure on water resources for quality and continuous water supply, the growing demand for safe, natural resources, increase the global population, The fastest adoption of new technologies for innovating and smart solutions to cater to the growing water industry challenges like rising the problem of sustainable living to the development of regulations and laws by the government across the countries to reducing the water consumption and developing water treatment solutions. The effect of water management emphasizes the global market water supply. That is why it becomes a critical need.

What Is Global Smart Water Management?

Smart water management is a system that is designed to gather meaningful and actionable data on the flow, pressure and distribution of a city’s water. The major goal is to ensure that the infrastructure and energy used to transport water are managed effectively. Some of the main features of water management include are pressure management, smarter leakage techniques for water networks, smart maintenance of the water cycle, smart water, meter technology and smart water quality techniques.

Growth Drive

The increasing need for natural resources with urban areas becoming increasingly smarter and technologically advanced

With the rapid increase of population and urbanization, with the emerging economies across the region, such as APAC, MEA is expected to offer new growth drivers to the market. Government initiatives and regulations are boosting the investment towards the modernization of the water infrastructure. Acquisitions and product launches would offer lucrative opportunities for the market players in the coming years. By following the world water Development Report 2021, over 2 billion people live in water-stressed areas, which is estimated, the world would face a 40% global shortage. With such a decrease in water resources and the rising demand for water supply, countries will not be able to provide water in sufficient quantities and of acceptable quality by using traditional water management systems. This scenario gives growth to water management with a sustainable approach.

Restraints

 Lack of Skilled Workforce

The major reasons for the shortfall are the aging workforce, a tight labor market, and less technical skills among the workforce. With the inclusion of technologies, there has been an immediate requirement to upskill every member in the water utility workforce, new or existing. However, utility companies have become important to engage with their most vulnerable customers, anticipate their needs, and provide proactive assistance, including payment options for cash customers and those in financial distress.

Opportunities

Increase the role of Smart Water Management in the smart city revolution

Governments of other countries focus on including smart technologies for economic development as a key component of urban planning strategy. Smart city initiatives consist of many components, such as smart energy, smart buildings, smart mobility, smart technology, smart infrastructure, and smart healthcare. Smart water is one of the major factors that define a smart city. Smart water management comes under the smart infrastructure component, which deploys digital water and wastewater treatment solutions. The smart city initiatives create huge business opportunities for smart water management solution providers with the growing population, rapid urbanization, soaring demand for food, and wastage of resources.

Impact of pre-covid-19 on Global Smart Water Management

Before the covid-19 the global demand, the need to address the efficiency related to operational issues of water management became essential, due to which adoption of smart water management technologies is expected to gain significant traction. The growth of urbanization with smart cities across various locations is expected to promote the growth of Smart Water Management. The demand for IoT –enabled advanced metering infrastructure (AMI) smart water meters is increasing due to their real-time visualization, leak detection, and machine-to-machine communication are the new networks for water management before the covid-19 period.

Impact of covid-19 on Global Smart Water Management

During the covid-19 pandemic year, the IT and telecom sector has played a major factor globally in supporting its digital infrastructure. Every individual and government, if it is followed by federal, state, central, local, and province level, has been in regular touch with one other to provide real-time information, but in a pandemic, situation government has to shut down the IT services. Covid-19 has had a massive impact on all-sized enterprises. Core industries, such as manufacturing, automotive, textile, transportation and logistics, travel and hospitality, and consumer goods, have been shut down due to country-level lockdowns worldwide. It would substantially impact the global economy in terms of a decline in GDP.

Post Covid-19 Impact on Global Smart Water Management

The Global smart water management market is anticipating significant growth during the forecast period. This growth is attributed to the global water market significant growth due to the continuous efforts of the government and development industry in developing countries. In addition, the market has expanded due to increasing investments and the high adoption of technologically advanced features. It creates many opportunities for new and small-scale players in the countries. Therefore, with the pandemic of the covid-19, the market will increase at a low rate for global water management across the globe, which has negatively impacted the water management value in 2021 and subsequent years.

By Water Meter & Solution Segmental Analysis

By offering the solution segment to have an increasing growth rate during the forecast period with the new and advanced technology with time, water utilities adopt smart solutions to integrate various business processes, accelerating the growth. Amalgamate various advanced technologies with the existing operations that support them increase the operational ability of the entire water network even with less infrastructure investment. New and advanced technologies and smart infrastructure are used to develop innovative solutions for customers in the smart water industry. During the forecast period, the adoption of new and smart solutions fare is expected to stream due to the increasing awareness about the quality of water, scarcity of natural water resources, rising consumer demands, and technological advancements.

By End-User Segmental analysis

The commercial and industrial segment has the growing segment during the forecast period. Water supply and distribution come under the successive administration by the government sector in any country. The sufficiency of privatization in the water sector brings about disputes in the systematic of water supply systems. The number of leakage and water loss occurrences is high due to the shortfall of continuous inspection on the water supply networks by the public sector across the countries. Industries are required to conflict with many water challenges that include maintaining apt water quality and pressure, disposing of industrial wastewater safely in compliance with depletion of manufacture intervention due to insufficient resources, such as pumps supplying cooling water or pumping wastewater. The acceptance of smart water solutions by commercial and industrial end-users is expected to deluge for contentious challenges that develop water consumption, diminish billing deception, appliance cost-effective solutions, and decrease water expenses. In many developing economies, the wastewater dumping systems are ineffective and follow practices for discarding industrial waste in natural water bodies. Building wastewater treatment is a considerable challenge for authorities in these regions.

By Region Segmental Analysis

Asia Pacific region is anticipated to grow at the highest CAGR during the forecast period. The fast rise in smart technologies and digitalization in developing countries affects all smart water management solutions applications. This region also has the demand for IoT platforms due to the increased number of attached devices and IoT technologies for water management. In APAC, the demand for water efficiency & water resources reusability is high, expected to drive the region’s Water Management market growth.

Competitor Analysis

The major vendors in the Smart Water Management market include Siemens, IBM, ABB, Honeywell Elster, Schneider Electric, Itro, SUEZ, Oracle, Landis+Gyr, Trimble Water, HydroPoint, i2O Water, Xenius, Neptune Technology, Takadu, Badger Meter, AquamatiX, Fluid, Lishtot, Elentec, Syrinx, CityTaps, FREDsense, Fractal, and Xylem are the prominent players. Key Stakeholders

• Market research and consulting firms
• Smart Water Management Market associations
• Manufacturing firms
• Research organization and consulting companies
• Technology Providers
• Regulatory bodies

Recent Development

• In January 2021, IL, TaKaDu, Aquify and Exelon have announced a strategic alliance to give advanced water technology and digital service and solution to the water utility market.
• In March 2021, AECOM announced a partnership with IBM on a ‘SmarterWater’ solution to improved water management. The smart water solution aggregates different data into one system user’s consistent real-time view across projects using IBM intelligent water software.
• In January 2021, Verizon announced a partnership with Honeywell to create a smarter energy grid. They plan to include many other elements in their new products, making smart grid management more accessible.

Scope of the Report

Report Attribute	Details
Market Size Value in 2020	13.8 billion
The revenue forecast in 2027	USD 22.4 Billion
Growth Rate	CAGR of 10.1% from 2021-2027
Historical data	2017-2019
Forecast period	2021 – 2027
Segment covered	Water Meter (AMR, AMI, Solution (Enterprise Asset Management, Network Management, Smart Irrigation), Service (Professional, Managed), End User (Commercial & Industrial, Residential)
Region covered	North America, Europe, APAC, Middle East and the Asia Pacific, and South America
Key companies Profiled	Siemens, IBM, ABB, Honeywell Elster, Schneider Electric, Itro, SUEZ, Oracle, Landis+Gyr, Trimble Water, HydroPoint, i2O Water, Xenius, Neptune Technology, Takadu, Badger Meter, AquamatiX, Fluid, Lishtot, Elentec, Syrinix, CityTaps, FREDsense, Fracta, and Xylem

Market Modelling

Based on offering

• Water meters
• Solutions
• Services

Based on Water Meter

• AMR Meters
• AMI Meters

Based on solutions

• Enterprise Asset Management
  • Asset conditioning monitoring
  • Predictive maintenance
• Analytics and Data management
• Meter data management
• Supervisory control and data acquisition
• Leak detection
• Other solutions

Based on End-User

• Commercial and industrial
• Residential

Based on Regions

• North America
• Europe
• APAC
• MEA
• South America

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