New York, NY, Aug. 02, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Smart Water Management System Market by Product (Advanced Water Meters [Advanced Metering Infrastructure (AMI) and Automated Metering Reading (AMR)], Meter Read Technology and Cellular Network), by Solution (Advanced Pressure Management, SCADA Systems, Data Management System, Residential Water Efficiency, and Advanced Analytics): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024”. According to the report, global smart water management system market was valued at approximately USD 9.6 billion in 2017 and is expected to generate revenue of around USD 31.6 billion by the end of 2024, growing at a CAGR of around 18.5% between 2018 and 2024.
Smart water management systems are experiencing rapid technological advancements. Increasing adoption rate of information and communication technologies (ICT) and real-time data generation by water and wastewater management industries to improve process transformation are expected to drive the smart water management market growth over the forecast period. Smart water management system is mostly focusing on advanced information technologies to decrease expenses, loss of water, and carbon footprint, in order to increase management and operational efficiency. Furthermore, development of smart irrigation practices would increase the demand for smart water management in the coming years. Implementation of smart monitoring technologies, Internet of Things based technology which is used to examine water treatment system and control water management in terms of real-time is further expected to drive industry growth over the forecast period.
Browse through 47 Tables & 18 Figures spread over 110 Pages and in-depth TOC on "Global Smart Water Management System Market Size 2017: Industry Type, Solutions, Services, and Forecast, 2024”.
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Increasing scarcity of water coupled with rising demand for water conservation across the world is expected to drive the smart water management market growth over the forecast period. Numerous organizations and governments across the world are taking initiatives to meet the rising demand for water. Moreover, regulatory bodies are implementing smart water technologies for the efficient management of distribution channels, updating water management solutions, decreasing the cost of maintenance, increasing awareness among people regarding conservation of water, and are reducing non-revenue losses of water which is taking place due to thefts and leakage of water. Such factors are anticipated to drive the smart water management market growth over the forecast timeframe.
The smart water management market is segmented on the basis of product into the cellular network, advanced water meters, and meter read technology. Advanced water meters are further divided into Advanced Metering Infrastructure (AMI) and Automated Metering Reading (AMR). Advanced Metering Infrastructure (AMI) is expected to contribute for major revenue in 2017, owing to the operational benefits such as accuracy in meter reading, detection of energy theft and response to power outages along with security and financial advantages.
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Based on the solution, the smart water management market has been segmented into advanced pressure management, SCADA systems, data management system, residential water efficiency, advanced analytics. Supervisory Control and Data Acquisition (SCADA) systems are expected to account for highest revenue share in smart water management in 2017. SCADA program is particularly designed to provide remote alert function, real-time historical database, alarm management, optimization and notification with open integration platform and powerful Human Machine Interface (HMI). Such characteristics of SCADA systems are expected to drive segment growth in the future.
North America smart water management market accounted for major revenue share in 2017, due to advancement in technology and early adoption of smart water management software and services in the region. Water authorities in North America are encouraging the adoption of smart water management technology to streamline the operations. Furthermore, increasing need for sustainable energy solution coupled with stringent government regulations is expected to propel the smart water management market growth.
Browse the full "Smart Water Management System Market by Product (Advanced Water Meters [Advanced Metering Infrastructure (AMI) and Automated Metering Reading (AMR)], Meter Read Technology, and Cellular Network), by Solution (Advanced Pressure Management, SCADA Systems, Data Management System, Residential Water Efficiency, and Advanced Analytics): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024" report at https://www.zionmarketresearch.com/report/smart-water-management-system-market
Europe held significant revenue share in smart water management over the forecast period. Increasing government initiatives for wastewater management in the region is anticipated to drive the market growth. The Blueprint for Safeguarding European Water is used for identifying water reuse; it is an essential measure which requires the European Union (EU) to increase reuse of water. This was pursued further in the 2015 Communication ‘Closing the loop – An EU action plan for the Circular Economy’ that identified a series of actions to support the reuse of treated wastewater.
The Asia Pacific smart water management market is anticipated to grow at fastest CAGR over the forecast period. Market growth is particularly expected in India and China. Rising government initiatives to raise awareness among people and development of smart cities are the major factors expected to drive the smart water management market growth over the forecast period. In 2011, the government of China launched the 12th Five-Year Plan, which includes the guidelines for economic development during 2011-2015. In this plan, two of the key themes such as “Sustainable Development” and “Scientific Development” is related to smart water management.
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Latin America and the Middle East and Africa smart water management market are expected to account for significant growth rate over the forecast period. The growth is attributed due to the increasing number of infrastructural projects for asset management across business unit, departments, and facilities in the region.
Some of the industry players operating in smart water management market include Aclara, Mueller, Neptune Technology Group, Arad Technologies/Master Meter, Sensus, Airborne Underwater Geophysical Signals, Schneider Electric, Global Water Resources, Cambrian Innovation, Arcadis, and Oracle.
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This report segments the global smart water management market as follows:
Global Smart Water Management Market: Product Segment Analysis
- Advanced Water Meters
- Advanced Metering Infrastructure (AMI)
- Automated Metering Reading (AMR)
- Meter Read Technology
- Cellular Network
Global Smart Water Management Market: Solution Segment Analysis
- Advanced Pressure Management
- SCADA Systems
- Data Management System
- Residential Water Efficiency
- Advanced Analytics
Global Smart Water Management Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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