Smart Water Management Market Projections, Insights & Growth Forecast during 2018-2025

Smart Water Management is the new system of management of water, revolutionizing the conventional distribution of water with new technologies. Modern utility distribution networks can exchange a large amount of data, which is helpful in efficiency in operation and optimization in the water management. In current water network systems based on large and centralized systems, the management options are limited, some of the major limitation in this management include, less operating efficiency because of the imbalance between supply of and demand for fresh water, high energy requirement for distribution and supply of fresh water, high treatment cost of waste water and low treatment efficiency. Therefore, to overcome these difficulties, smart water management is being adopted by many industries, manufacturing firms, and organizations.

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Market Dynamics

North America and Europe are the major regions in the advancement of smart water management technologies, owing to the high adoption of the new technologies such as advance meter infrastructure technology and SCADA software system technologies by many industries in the region. North America led the smart water management technology in 2016, with the market in the region valued at US$ 2.90 billion and projected to witness a CAGR of 19.3% during the forecast period (2017-2025). Asia Pacific is the fastest growing market for smart water management market, owing to the rising smart irrigation management systems and rising smart city projects. For instance, in India, 100 cities are being developed under the Smart Cities Mission. Asia Pacific is estimated to be the fastest-growing market, at a CAGR of 23.1% during the forecast period to reach US$ 11.69 billion by 2025.

Smart water management systems are undergoing a rapid wave of technological advancements. Water and wastewater management industries are improving in process transformation by adopting the use of information and communication technologies (ICT) and real time data generation. The aim of smart water management system is to increase the management and operational efficiency by using advanced information technologies to reduce expenditure, water loss, and carbon footprint.

Major drivers propelling the growth of smart water management market include the advancement in the technology such as advanced metering technology and Supervisory Control and Data Acquisition (SCADA) in water and waste water management. Also, with the development of the smart irrigation practices, there is a rise in demand for smart water management market. According to the research of Coherent Market Insights, smart irrigation market is growing at CAGR of 18.0% during the forecast period (2017-2025), which in turn drives the smart water management market in the forecast period.

North America led the smart water management market in 2016 and is expected to retain market dominance throughout the forecast period. Advancements in technology such as satellite remote sensing, and web-enable sensors and communication networks in water management and stringent government regulations such as Safe Drinking Water Act (SDWA), Clean Water Act (CWA) and regulations regarding the wastewater management are factor boosting growth of smart water management market in this region, with region accounting for 32.80% share in 2016.

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Major Players in the Smart Water Management Market:

Some of the major players in the Smart Water Management Market are General Electric, ABB Group, Itron, Schneider Electric, International Business Machines (IBM) Corporation, Sensus, Elster Group Se, and Seimens Ag.

Detailed Segmentation:

Global Smart Water Management Market, By Advanced Water Meters:
-By Water Read Technology
Cellular Network
Fixed Network

-By Meter Type
AMI Meters
AMR Meters

Global Smart Water Management Market, By Service:
-Managed Services
-Professional Services
Consulting services
Maintenance and Support
Deployment and Integration

Global Smart Water Management Market, By Solution:
Advanced Analytics
Advanced Pressure Management
Network Monitoring
Residential Water Efficiency
Enterprise Asset Management for Water and Wastewater Utilities
SCADA Systems for Water and Wastewater Utilities
Smart Irrigation Management System
Meter Data Management (MDM) of Water

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This release was published on openPR.