Wilmington, Delaware, United States, Sept. 12, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global water automation and instrumentation market is projected to flourish at a CAGR of 11.1% from 2023 to 2031. As per the report published by TMR, a valuation of US$ 48.5 billion is anticipated for the market in 2031. As of 2023, the market for water automation and instrumentation is expected to close at US$ 20.8 billion.
Growing concerns about water scarcity due to population growth, urbanization, and climate change are driving the need for more efficient and sustainable water management solutions, driving the demand for the water automation and instrumentation market during the forecast period.
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Competitive Landscape
The water automation and instrumentation market is highly consolidated with the presence of a few market players. The leading players in the market are investing in new product development, mergers, and acquisitions to gain a competitive edge. Transparency Market Research has profiled the following players in its global water automation and instrumentation market report:
- ABB Ltd.
- CH2M Hill Inc.
- Emerson Electric Company
- Endress + Hauser AG
- General Electric Company
- Mitsubishi Electric Corporation
- Pepperl + Fuchs
- Rockwell Automation Inc.
- Schneider Electric Corp.
- Siemens AG
- Yokogawa Electric Corporation
- Other Key Players
Key Developments in the Water Automating & Instrumentation Market
- Siemens, a global leader in automation and instrumentation, has been focusing on digitalization and automation in the water industry. They have likely continued to develop and expand their range of water-related solutions. Recent developments may include enhanced water quality monitoring systems, data analytics for predictive maintenance, and smart water distribution solutions.
- ABB is another major player in the automation and instrumentation sector. They have been working on providing innovative solutions for water utilities and industries. Recent developments could involve the integration of artificial intelligence (AI) and machine learning (ML) in water treatment processes, as well as advanced remote monitoring and control systems.
- Endress+Hauser specializes in instrumentation and process automation, including solutions for water and wastewater management. Recent developments may include advancements in water quality sensors, wireless monitoring technologies, and increased connectivity for data analysis.
- Emerson offers a range of solutions for water and wastewater treatment processes. They may have introduced new products or technologies for improved water management. Recent developments may focus on real-time analytics, remote monitoring, and solutions that help water utilities optimize energy consumption.
Growing awareness of the need for water conservation is driving the adoption of water automation solutions. These technologies help identify leaks, optimize irrigation systems, and reduce water wastage in various applications. Increasing industrialization trends in emerging economies will provide lucrative opportunities for water automation and the instrumentation market.
Increasing stringent government environmental regulation for water quality and wastewater treatment. Compliance with these regulations necessitates advanced monitoring and control systems, boosting the demand for water automation and instrumentation solutions.
Key Takeaways from the Market Study
- As of 2022, the water automation and instrumentation market was valued at US$ 18.8 billion
- By technology, the distribution control system segment enjoys high demand, accumulating a high revenue share during the forecast period.
- By process stage, the treatment segment to account for higher market share
- Based on end-users, the chemical sector segment is anticipated to dominate the industry during the forecast period
Water Automation & Instrumentation Market: Key Trends and Opportunistic Frontiers
- Urbanization is increasing the demand for clean and safe drinking water. Smart water management solutions, enabled by automation and instrumentation, help cities ensure a consistent and reliable water supply for their growing populations.
- The growing advances and integration of IoT devices and SCADA (Supervisory Control and Data Acquisition) systems into water automation solutions allow for seamless communication, monitoring, and control across entire water networks, further enhancing efficiency and reliability.
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Water Automation & Instrumentation Market – Regional Analysis
- North America is projected to be the dominant region and account for a higher share. Favorable government initiatives, higher investment, technical advancement, and expanding end-use industries are some of the key factors boosting market statistics.
- Asia Pacific is expected to grow at a steady pace, ascribed to a rise in the adoption of water automation and instrumentation in various end-use sectors and its use in water treatment plants to facilitate efficient water management solutions.
Water Automation & Instrumentation Market- Key Segments
By Process Stage
- Collection
- Distribution
- Treatment
By Technology
- Distribution Control System (DCS)
- Supervisory Control and Data Acquisition (SCADA)
- Programmable Logic Controller (PLC)
- Others (Identity and Access Management (IAM) etc.)
By Equipment
- Pressure and Temperature Transmitters
- Level Transmitters
- Electromagnetic Flow Meters
- Leakage Detection Systems
- Sludge Density Measurement
- Others (AC / DC Drives etc.)
By End-use Industry
- Chemicals
- Pharmaceuticals
- Automotive
- Aerospace
- Food and Beverages
- Oil and Gas
- Others (Metal Industry, etc.)
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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