Press release
Smart Water Management Market to Register Unwavering Growth During 2029
The global smart water management market is set to witness an increase in its market worth over the forecast period of 2019 to 2029. TMRR notes that it will be a result of moderate but steady growth rate projected for the market over this period. It also delineates how the market is driven by a slew of trends and drivers.
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Foremost among the numerous growth factors are climate volatility, increase in awareness regarding water scarcity and need for conservation, and ageing infrastructure that has a massive bearing on the smart water management market. Besides, governments across the world are coming up with stringent regulations such as the California Water Conservation Act that is contributing positively to growth in the global smart water management market.
Global Smart Water Management Market: Competitive Landscape
Multiple growth strategies are being opted for by players operating in the competitive landscape of global smart water management market. These emerge from across the organic and inorganic spectrum. Some of the most notable ones are improving reduction in leakage, technological advancement, key alliances, and mitigate waste reduction.
Top players operating in the highly fragmented vendor landscape of global smart water management market are:
ABB Ltd
Aclara
Badger Meter
Cisco
Elster
General Electric (GE)
HydroPoint Data Systems Inc.
IBM Corporation
Itron
Mueller Systems
Oracle
Schneider Electric
Sensus
Siemens AG
Tata Consultancy Services
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Global Smart Water Management Market: Key Trends and Drivers
The global smart water management market is growing at the back of a number of trends and drivers. Transparency Market Research provides a deep down into market growth dynamics. A peek into these growth factors is outlines below:
Population across the world is growing and this factor is stressing the scarce resource of water. This is driving demand for smart water management world over. By 2050, global population will touch the high mark of 9.7 billion. Currently, the world population is 7.7 billion and that means that an increase of 2 billion will be noted in the intermediate period. This will be a notable contributor to growth in the global smart water management market.
Governments across the world are trying to push smart water management in order to manage scare resources. In places, that are witnessing rapid industrialization and urbanization, it gains centre-stage. Additionally, it is worth noting here that in a number of countries such as India, smart city development is underway. This is set to drive growth in the smart water management market over the forecast period.
Global Smart Water Management Market: Regional Analysis
Over the forecast period, in global smart water management market, North America would top the regional charts while Asia Pacific (APAC) will emerge as a fast growing region. In the former, factors of growth include notable incubation facilities and financial incentives. In the latter, scarcity of water and increase in investment is leading to growth in the regional market. It is pertinent to note here that in Asia Pacific region, rapid industrialization is also leading to high demand for water and this is leading to governments investing in the right kind of infrastructure and smart products. Development of smart cities is also set to drive growth in the regional smart water management market.
Global Smart Water Management Market Segmentation:
By Component
Devices
Solutions
Services
By Technology
Fixed Network
Cellular
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About TMR Research:
TMR Research is a premier provider of customized market research and consulting services to business entities keen on succeeding in today’s supercharged economic climate. Armed with an experienced, dedicated, and dynamic team of analysts, we are redefining the way our clients’ conduct business by providing them with authoritative and trusted research studies in tune with the latest methodologies and market trends.
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