The global smart water management market was valued at $13.2 billion in 2022, and is projected to reach $52.6 billion by 2030, growing at a CAGR of 13.8% from 2023 to 2030. The need for sustainable water solutions is on the rise, and there is a pressing need to replace the outdated water infrastructure. There is also a growing need to reduce water loss from non-revenue water use. However, there are a number of challenges preventing the industry from expanding, including a lack of resources to adopt contemporary solutions, particularly in developing countries, a large initial investment, and a poor return on income. However, it is anticipated that in the anticipated term, the market participants would have plenty of chances due to growing government initiatives to implement smart water management and expanding improvements in smart city projects.
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Smart water management is the replacement of traditional water transportation with the newest technologies. Additionally, many manufacturing and synthetic-based businesses are using smart water management to reduce water waste and maximize energy utilization. Additionally, management solutions recommend using data and associated innovations to address various water management concerns.
Global Smart Water Management Market Segmentation Analysis
Smart Water Management Market, By Offering
- Sensors
- Water Meters
- Solutions
- Services
Smart Water Management Market, By End-User
- Commercial and Industrial
- Residential
Smart Water Management Market, By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Players
The key players profiled in the global smart water management market are ABB (Switzerland), Arad Group (Israel), AquamatiX (U.K.), Badger Meter (U.S.), HydroPoint (U.S.), IBM Corporation (U.S.), i2O (U.K.), Itron (U.S.), Oracle Corporation (U.S.), Schneider Electric SE (France), Siemens AG (Germany), Trimble Water (U.S.), General Electric (U.S.) among others.
Outlook & Regional Analysis
The Global Smart Water Management Market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa based on regional analysis. Due to the rising need for sustainable energy solutions, North America will dominate the market in 2021. APAC is expected to experience the highest CAGR increase over the period covered by the forecast. The rapid growth can be largely attributed to a number of factors, including an increase in the adoption of smart grid solutions, an increase in urbanization levels leading to an increase in water demands, an exponential rise in population, agricultural production, the incorporation of technology in the utility sector, and so forth.
The smart water management market is further divided based on the automation solution into the following segments: asset management, advanced water treatment & automation, pressure control & leakage detection, analytics & data management, and others. Due to significant expenditures in water meters for monitoring water amount and quality to prevent excessive leakages and provide consumers with a continuous supply of water, the water quality and quantity monitoring segment is anticipated to have the highest share in 2021. Additionally, the asset management market is anticipated to expand at the greatest CAGR over the next few years as a result of the increasing need to replace outdated water infrastructure, which will make it possible for water managers to manage their assets efficiently.
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