Smart Water Management Market Potential Growth, Attractive Valuation Make It Is A Long-term Investment

Smart water management is essentially a system designed to gather meaningful and actionable data on the flow, pressure and distribution of a city’s water. Its main goal is to ensure that the infrastructure and energy used to transport water are managed effectively. Some of the primary features of water management include pressure management, smarter leakage techniques for water networks, smart network operations and maintenance of the water cycle, smart water meter technology, and smart water quality monitoring.
 
Driver:
Concern on water shortage and growing awareness about depleting water reserves across globe has got the Government of many countries to invest in smart water management techniques.
For e.g.  In 2019, According to Statista, over a 75% of the world's population faces extremely high levels of baseline water stress due to irrigated agriculture, industry, and municipal withdrawals on the available water supply. Qatar is one of these countries facing extremely high stress levels with a score of 4.97 out of possible score between 0 and 5.
Increasing need for clean supplies and proper sanitation on account of rapid urbanization is further expected to fuel Smart Water Management market growth.
In May 2018, According to United Nations (UN), 55% of the world’s population lives in urban areas, a proportion that is expected to increase to 68% by 2050. The gradual shift in residence of the human population from rural to urban areas, combined with the overall growth of the world’s population could add another 2.5 billion people to urban areas by 2050
 
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Competitive section:
Key competitors in smart water management market are ABB, Arad Group, AquamatiX, IBM, Honeywell Elster, Itron, Oracle, SenzIoT, and Trimble Water.
In November 2019, ABB partnered with Kemira, a Finnish chemical industry group, to combine Kemira’s expertise in water treatment with ABB’s integrated automation solutions to enable customers to digitalize their water treatment processes and improve the efficiency of their operations.
In October 2019, IBM launched the Maximo Asset Monitor, a new Artificial Intelligence (AI)-powered monitoring solution designed to help maintenance and operations by providing a better understanding and improvement in the performance of high-value physical assets, enabling it to expand market-leading asset management capabilities.
In September 2019, Itron collaborated with Xcel Energy, a U.S.-based utility holding company, to deploy its distributed intelligence-enabled smart meters across its territory over the next five years to help Xcel Energy improve its reliability, efficiency, and security for customers.
 
 
 Restraints:
Various tools and technologies used in smart water management system is of high cost which is the biggest constraint of the market.
There is Lack of skilled persons to use the tools and manage the system which is another major problem.
 
 
Regional insights:
North America is expected to dominate the smart water management market. Development and adoption of innovative technologies apart from being the R&D hub of smart water management are driving the growth of smart water management market. In February 2020,  according to the International Data Corporation (IDC), regionally, the U.S., Western Europe and China are expected to account for over 70% of global smart city expenditure to 2024, with Latin America and Japan seeing the fastest growth in spending in 2020.
The Asia Pacific region shows rapid growth in smart water management market, as it holds more than 50% of the world’s population, and therefore any major technological shifts, such as the adoption of Internet of Things (IoT) and other advanced technologies is expected to shape the future of the region.
Many Asian countries, such as China, Japan, and India, leverage information-intensive technologies, to cater to the increasing water utilities sector demand and hence, Asia Pacific is expected to show promising opportunities to deploy smart water management solutions.
 
 
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