A dedicated process or product designed in order to plan, distribute, and manage the utilization of water resources technologically is termed as smart water management system. Water is a mandatory element of the lifecycle for survival. The amount of available fresh water resource is in countable figures, resulting scarcity of water in several areas. Hence, the overuse of the water in residential areas, inappropriate management of the water in areas with low literature rate or unawareness of people about the vitality of the water are some of the basic reasons leading to the shortage of water.
Smart water management involves various technologically developed systems and products which are segmented based on products as advanced water meters, meter read technology, and cellular network. Advanced water meter is further classified as advanced metering infrastructure (AMI) and automated metering reading (AMR). Based on the inbuilt technology used, the global smart water management system market is segmented as advanced pressure management, SCADA systems, data management system, residential water efficiency, and advanced analytics.
Water crises in cities as well as in rural areas are due to improper management of water resources and this system acting as a better alternative to save water are some factors boosting the SWM system market globally. Based on the end-user, the global SWM system market is segmented as massive residential complexes, hospitals, malls, educational institutes, and hotels. The use of water by end-users is driving the growth of the rainwater harvesting market. Increasing adoption of SWM systems in industries, construction sector, and by manufacturers is also fostering the demand in the market. In addition, decreased water quality at the source and awareness among the consumers about the significance of the process and purification equipment are the major factors driving the SWM system market. New innovations and development, technological mergers and acquisitions among the manufacturers are the vital factors boosting the demand for SWM system in the market. Consumers being more conscious about their health is also a factor responsible for rising demand for SWM system market. Hence, the high cost of equipment may restrain the growth of the smart water management system market.
Geographically, North America is the largest market for smart water management system mainly owing to huge investments in SWM systems in order to reduce the wastage of water. Further, Asia-Pacific region is expected to grow at steady pace due unpredictable environment conditions and rising scarcity of water.
Some of the major players contributing their efforts in global smart water management system market are Aclara, Mueller, Neptune Technology Group, Arad Technologies/Master Meter, and Sensus. Other companies influencing the global market are Airborne Underwater Geophysical Signals, Schneider Electric, Global Water Resources, Cambrian Innovation, Arcadis, and Oracle.
Smart Water Management System Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa