Press release
Smart Water Management Market – Competitive Landscape & Product Benchmarking 2018-2024
Smart Water Management Market size is driven by the rising scarcity of water resources and the growing requirement to conserve water across the globe. The increasing population and rapid urbanization are stressing the water supply to its limits. Furthermore, the water infrastructure, such as pipes is also deteriorating. This gives rise to the requirement of new technologies and methods to enable the distribution of the water in a cost-effective manner. Therefore, government across the countries are deploying smart water management market system to reduce the wastage and minimize maintenance & repair cost.
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The traditional water management system is based on a centralized system in which the management options are limited. The system has a low operating efficiency due to the gap between the supply & demand for fresh water, the high energy requirement for distribution & production, and high treatment cost. To address these challenges, a new smart water management system is required.
The advancement in the technology is also one of the major factors augmenting the growth of the smart water management market. The development of the Advanced Metering System (AMS) and the integration of the Supervisory Control and Data Acquisition (SCADA) into the water management system are developing myriad opportunities for the growth of the market. These technologies are effectively minimizing the maintenance & repair costs and reducing the Non-Revenue Water (NRW). Furthermore, the technology also enables auto leak and theft detection, which is estimated to drive the market growth.
The Advanced Meter Reading (AMR) and Advanced Metering Infrastructure (AMI) are the two types of meters used in the smart water management market. The advanced metering infrastructure is estimated to account for majority of the share due to its wide applications of tracking the usage, detecting leakage & theft, and water wastage. The advanced meter reading is estimated to grow substantially due to the increasing demand for network analytics and monitoring solutions & services.
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The smart water management market comprises of enterprise asset management systems, network monitoring systems, advanced pressure management systems, SCADA systems, advanced analytics systems, meter data management systems, residential water efficiency, and smart irrigation management systems. SCADA systems are anticipated to be the most used solutions among the industry verticals due to the numerous benefits offered by the system. Furthermore, the high efficiency offered by the system in the prevention and detection of the failures in the distribution system also fosters the smart water management market growth.
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The companies operating in the smart water management market are focusing on strategic acquisitions to strengthen their product portfolio and R&D capabilities and gain a competitive advantage in the rapidly-growing market. For instance, in February 2018, Xylem, Inc., a global water technology provider acquired Pure Technologies, a provider of technological solutions for managing critical infrastructure across wastewater and transportation sectors. The acquisition was aimed at strengthening Xylem’s product portfolio by leveraging Pure Technologies’ proprietary diagnostic and analytics solutions. Similarly, in October 2017, Suez, one of the global leaders in smart and sustainable resource management solutions, finalized the acquisition of GE Water and Process Technologies to strengthen its position in the global industrial water services sector. Some of the companies operating in the market are ABB Group, Schneider Electric, Itron, Elster Group, Seimens, Suez, IBM, AVEA, Trimble, Topcon, Takadu, Arad Metering Technologies, Nalco, Sensus, and i20 Water.
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