Global Smart Water Management System Market Is Likely To Grow At A CAGR Value Of Around 9.7% By 2028

The global smart water management system market was worth around USD 13572.9 million in 2021 and is estimated to grow to about USD 23659.7 million by 2028, with a compound annual growth rate (CAGR) of approximately 9.7 percent over the forecast period. The report analyzes the Smart water management system market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the digital remittance market.

Smart water management systems are deployed to efficiently manage water resources in order to avoid wastage and misuse of water. These systems are deployed to conserve water and manage water distribution facilities. Increasing technological proliferation has resulted in the rising adoption of smart water management systems on a global scale and this is expected to be a prominent trend over the forecast period as well.  

Increasing demand for water, rising population, increasing urbanization and industrialization, rising focus on sustainability, increasing focus on water management and distribution are some other key factors that are influencing the Smart water management system market growth through 2028.

The rising population across the world has fostered a high demand for water and food, which subsequently is driving the demand for smart water management systems.

Shortage of skilled workforce is a major factor that is expected to hinder Smart water management system market growth over the forecast period. Another factor that is high costs associated with implementation and integration is expected to restrain the market to a certain extent through 2028

Lockdown restrictions on a global scale resulted in massive difficulties for Smart water management system market growth and led to decline in smart water management system market revenues across the world.

Increasing industrialization plays a key role in the Smart water management system market. Industries are required to manage many water challenges that include maintaining water quality and pressure, disposal of industrial wastewater, ensuring reduction of processing time and all while being compliant with regulatory norms and hence effective deployment of smart water management system is crucial to this sector as focus on efficiency and sustainability bolsters through 2028.

The pandemic had a negative impact on the Smart water management system market and resulted in huge losses for Smart water management system companies which would be majorly focusing on managing these losses over the post-pandemic era.

The global smart water management system market is segregated based on offering, water meters, services, solutions, end user, and region. Based on application, the global market is distinguished into commercial and industrial and residential. The commercial and industrial segment is expected to hold a major market share and continue with this trend over the forecast period as well. Increasing industrialization and rapid urbanization have created lucrative business opportunities for industries and hence the demand for water from those has increased and subsequently favoring Smart water management system market growth.

Browse the full “Smart Water Management System Market By Offering (Water Meters, Solutions, Services), By Water Meters (AMR Meters, AMI Meters), By Solution (Enterprise Asset Management, Asset Condition Monitoring, Predictive Maintenance, Analytics And Data Management, Meter Data Management, Supervisory Control And Data Acquisition, Security, Smart Irrigation Management, Advanced Pressure Management, Mobile Workforce Management, Network Management, Customer Information System And Billing, Leak Detection, Other Solutions), By Services (Professional Services, Consulting Services, System Integration And Deployment Services, Support And Maintenance Services, Managed Services), By End User (Commercial and industrial, Residential), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/smart-water-management-system-market

Asia Pacific region is expected to hold a dominant outlook in the global smart water management system industry landscape. Increasing industrial activity, rapid urbanization, rising water consumption, growing population, increasing technological proliferation, favorable government initiatives are some other factors that favor the Smart water management system market growth in this region through 2028. Smart water management system market growth in North America is expected to be driven by the rapid adoption of new technologies and the presence of key Smart water management system companies. The United States and Canada are anticipated to be the key markets for Smart water management system in this region.

Key players functioning in the global smart water management system market include Siemens (Germany), IBM (US), ABB (Switzerland), Honeywell Elster (US), Schneider Electric (France), Itron (US), SUEZ (France), Oracle (US), Landis+Gyr (Switzerland), Trimble Water (US), HydroPoint (US), i2O Water (UK), Xenius (India), Neptune Technology (US), Takadu (Israel), Badger Meter (US), AquamatiX (UK), Fluid (US), Lishtot (Israel), Elentec (UK), Syrinix (UK), CityTaps (France), FREDsense (Canada), Fracta (US), and Xylem (US).

Recent developments:

• In March 2021, Schneider Electric a leading multinational corporation announced the creation of a joint venture with SUEZ that will be solely focused on developing digital solutions to effectively manage the water cycles.

Global smart water management system market is segmented as follows:

By Offering

• Water Meters
• Solutions
• Services

By Water Meters

• AMR Meters
• AMI Meters

By Solution

• Enterprise Asset Management
• Asset Condition Monitoring
• Predictive Maintenance
• Analytics and data management
• Meter data management
• Supervisory control and data acquisition
• Security
• Smart irrigation management
• Advanced pressure management
• Mobile workforce management
• Network management
• Customer information system and billing
• Leak detection
• Other Solutions

By Services

• Professional Services
• Consulting services
• System integration and deployment services
• Support and maintenance services
• Managed Services

By End User

• Commercial and industrial
• Residential

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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