Farmington, April 26, 2023 (GLOBE NEWSWIRE) -- The Global Smart Water Management Systems market was valued at USD 14.3 billion in 2022, and is projected to reach USD 53.6 Billion by 2030, growing at a CAGR of 14.2% from 2022 to 2030. Key factors driving the growth of this market include the as cities become more intelligent and technologically advanced, there is a greater need for innovative water management strategies.
The expanding demand for (renewable) water resources is a global problem. This is due to factors such as population growth, economic development, continued urbanization, and an increase in the quantity of food consumed by each individual.
Request sample copy of report “The Global Smart Water Management Systems Market Size, Share & Trends Estimation Report By Type Outlook (Solution, Solution Type, Hardware, Software, Service, Service Type, Professional Services, Managed Services), By Application Outlook (Water Pipeline Monitoring & Leak Detection, Water Level Monitoring and Dam Management, Water Consumption & Distribution, Irrigation Management, Waste Water Monitoring, Others), By End Use Outlook (Commercial, Public Sector, Residential), Region and Forecasts, 2023 - 2030” published by Contrive Datum Insights.
Segmentation Overview:
Type Outlook:
Based on their respective offerings, the market is divided into Sensors, Water Meters, Solutions, and Services. The solutions segment will likely have the largest market share in the future years. As technology continues to advance, water companies are employing ingenious methods to connect diverse business processes in order to accelerate their growth. This allows businesses to better serve their patrons.
Even though they only invested a modest amount of money in the infrastructure, they were able to increase the efficiency of the entire water network by integrating a number of cutting-edge technologies with existing procedures. In the smart water industry, these and other forms of smart infrastructure are utilized to provide clients with customized solutions.
End User Outlook:
End-Users are classified as commercial, industrial, and residential. The market will be dominated by industry and commerce. In every country, the local authority is responsible for water supply and delivery. Lack of privatization in the water sector hinders the efficiency of water distribution. Leaks and water loss are prevalent in global water supply networks because the government does not monitor them.
Regional Analysis:
Geographically, North America, Europe, Asia-Pacific, Latin America, the Middle East, and India have been analyzed as distinct segments of the global Smart Water Management Systems market. This market will be dominated by the global region in the near future.
In the coming years, the Asia-Pacific market for smart water management systems is expected to expand significantly due to the increasing number of smart cities in countries such as India and Indonesia. Due to the rapid growth of urban populations, water resource management is one of the most important objectives of smart city initiatives. In smart cities, clever water management tools will aid in locating leaks, tracking how water is distributed throughout the city, and making management decisions. This will directly increase the demand for clean water in urban areas, as well as for improved water management facilities to satisfy people's basic water needs and reduce water waste. Consequently, the Asia-Pacific market for intelligent water control systems will expand significantly over the next few years.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 14.2% from 2023 to 2030. |
| Revenue Forecast by 2030 | $53.6 Billion |
| By Type |
|
| By Application |
|
| By End Use |
|
| By Companies |
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| Regions and Countries Covered |
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| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
Restraining Factors:
The adoption of smart water management systems may be hindered by the systems' high complexity and poor performance, thereby restraining market revenue growth in the future. Low signal interferes with the operation of smart sensors, and interoperability issues are on the rise. These are some of the additional factors that can impede market growth. High deployment and maintenance costs, a lack of adequate infrastructure to support smart metering, and the low accuracy of certain sensors are a few additional factors that may restrain the market's revenue growth over the forecast period.
Opportunity Analysis:
Smart water management will play a larger role in the transition to a smart city: Globally, smart tools for economic development are gaining importance in urban planning strategies. In 2013, smart city initiatives began. They include intelligent energy, intelligent transportation, intelligent technology, intelligent infrastructure, and intelligent health care. SWM is a component of the smart infrastructure, which uses digital methods to treat water and wastewater.
Key Segments Covered:
Top Market Players:
- IBM
- Aclara Technologies
- Oracle
- Schneider Electric
- Sensus
- Arad
- Neptune Technology
- Mueller Water Products
- Arcadis.
- Others.
By Type
- Solution
- Solution Type
- Hardware
- Software
- Service
- Service Type
- Professional Services
- Managed Services
- Service Type
Application
- Water Pipeline Monitoring & Leak Detection
- Water Level Monitoring and Dam Management
- Water Consumption & Distribution
- Irrigation Management
- Waste Water Monitoring
- Others
End Use
- Commercial
- Public Sector
- Residential
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific:(Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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