Global Smart Water Management Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Global Smart Water Management Market Overview:

“The global Smart Water Management Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

Smart water management is management of water, revolutionizing the conventional distribution of water with new technologies. Various manufacturing firms and chemical based companies are adopting smart water management in order to reduce water wastage and for efficient use of their resources.

Market Dynamics

Increasing technological advancements in water and waste water treatments such as advanced metering technology and Supervisory Control and Data Acquisition (SCADA) are major factor expected to drive growth of the global smart water management market over the forecast period.

In addition, rising adoption rate of information and communication technologies (ICT) and real-time data generation by water and wastewater management industries in order to increase operational efficiency and management are other factors expected to further fuel growth of the target market over the forecast period.

Furthermore, increasing scarcity of water along with rising demand for water conservation across the globe is expected to boost growth of the target market over the forecast period. Moreover, various organizations and governments across the globe are taking initiatives in order to meet rising demand for water is another factor expected to propel growth of the global smart water management market over the forecast period.

However, high cost of initial investment and lower rate of return are the major factors expected to restrain growth of the global smart water management market over the forecast period. In addition, lack of expertise is another factor expected to hamper growth of the target market in the near future.

Analysis by Region

The market in North America is expected to dominate the global smart water management market in terms of revenue over the forecast period, owing to rising demand for sustainable energy solution and stringent government regulations across various countries in this region. The market in Europe is expected to register significant share in terms of revenue over the forecast period, owing to healthy economy and technological advancements in various countries in this region.

Additionally, the market in Asia Pacific is expected to highest CAGR over the forecast period, owing to increasing government initiatives towards raise awareness among people and development in smart city projects over the forecast period. Moreover, the market in Latin America and the Middle East & Africa is expected to account for moderate growth rate over the forecast period, owing to growing number of infrastructural projects for asset management among business units, departments, and facilities in these regions.

Global smart water management market segmentation:

Segmentation by advanced water meters:

• By meter type
  • AMR meters
  • AMI meters
• By meter read technology
  • Fixed network
  • Cellular network

Segmentation by solution:

• Enterprise asset management for water and wastewater utilities
• Network monitoring
• Advanced pressure management
• SCADA systems for water and wastewater utilities
• Advanced analytics
• Meter data management (MDM) for water
• Residential water efficiency
• Smart irrigation management systems

Segmentation by service:

• Professional services
  • Maintenance and support
  • Deployment and integration
  • Consulting services
• Managed services

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa