Smart Water Management Market Outlook 2021 envelope the Best Research Methodology for Future Opportunity till 2027 | Openpr.com

Smart water management (SWM) is a smartly designed system to collect meaningful and actionable data on the pressure, flow, and distribution of a city’s water. The primary objective of SWM is to ensure that the infrastructure and energy used for transport of water are efficiently managed. SMW also helps to minimize energy usage in pumping of water at water utilities, the cost of detection of leaks and theft and enhances customer engagement in water conservation. Smart water solutions and services are still struggling for rapid adoption in major parts of the globe owing to regulatory support from the governments, lack of funds, and fragmented technology solutions from various vendors without an integrated platform.

Installing advanced metering infrastructure (AMI) requires significant initial investment. For instance, in 2013, the American Water Works Association stated in a publication that over a million miles of water pipelines have reached the end of their life cycle and need to be replaced. The cost of replacing and expanding these pipelines in the U.S. would be more than USD 1 trillion over the next couple of decades.  Furthermore, the long-term payback period of the smart water technologies is hindering its adoption. Therefore, these factors are expected to restrain growth of the global smart water management market during the forecast period.

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What is the Compound Annual Growth Rate (CAGR) of the Smart Water Management market during the forecast period (2020-2027)?
The market is expected to grow at 16.4% CAGR over the period (2020-2027).

Who are the key players operating in the global Smart Water Management market?
Key players operating in the global Smart Water Management market are IBM Corporation, TaKaDu Ltd., Arad Metering Technologies, Sensus USA Inc., Arad Metering Technologies, i2O Water Ltd, ABB Ltd, ET Water Systems, LLC, Schneider Electric SA, General Electric Company, Evoqua Water Technologies (Siemens), Emerson Electric Corporation, and Itron, Inc.

What is the primary factor contributing towards the growth of global Smart Water Management market?
Stringent government regulation regarding water supply, is attributing the demand of Smart Water Management market.

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