Press release
Smart Water Management Market Trends 2020: Technology Advancements and Industry Demand Forecast To 2025
Smart Water Management Market
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.
North America is estimated to lead the global smart water management market due to the early adoption of water management solutions in the region along with the presence of regulatory policies requiring industries in the region to comply with water-usage and discharge-related norms. Regulations in the U.S., such as the Safe Drinking Water Act (SDWA), the Clean Water Act (CWA), ensure the drinking water safety and monitoring of the discharge of pollutants into the water bodies. Industries operating in the region are required to utilize and discharge water in compliance with these regulations. Asia Pacific market, on the other hand, is expected to exhibit fastest growth between 2018 and 2024.
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.
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