Smart Water Management Market Growth Outlook Beyond 2027

Smart Water Management Market

Smart water management is water management which changes customary water conveyance with new innovations. Various assembling firms and synthetic based organizations are executing smart water management to lessen water wastage and to utilize their energy proficiently. Smart water management alludes to the use of data and correspondence innovation to address water management challenges.

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Smart water management utilizes a wide scope of equipment and programming instruments, for example, – sensors, water meters, and programming examination. The arrangement can be utilized to distantly screen and control the water stream, supply, and its utilization across different hubs.

Governments from different countries all throughout the planet are approaching to execute smart water management arrangements at their metropolitan, local and public level for reasonable water management arrangements. The reception of a smart water management framework assists with acquiring straightforwardness and further developed control to the water inventory network and subsequently flooding its interest in the different water-denied areas. In any case, the shortfall of countless carefully talented labor force is the greatest limitation of the market. Interest for quality water management is expanding as need for water increments and it's anything but an extraordinary failure. This is likewise the motivation behind why governments across the world are attempting to advance smart water management.

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Global Smart Water Management Market: Overview

Set to grow at a magnificent rate (CAGR - Compound Annual Growth Rate) the global smart water management market is ready to reach a significant market valuation by the end of the forecast period - from 2019 to 2027. Some of the significant reasons behind the steady growth projected for the market over the stated period are growing demand for quality water services, and up-gradation of water related infrastructure. Besides, growing digitalization of the utilities sector is also supporting growth in the market. Additionally, it is worth noting here that the government regulations emerging in the market landscape are also favouring growth.

Global Smart Water Management Market: Notable Development

The global smart water management market is expected to grow at an impressive CAGR owing to a couple of reasons. Some of these are related to the active vendor landscape of the market. Certain developments that have happened in the recent past and are ready to shape the future of this marketscape are outlined below:

In the year 2019, Itron and Xcel Energy forged an alliance to improve market penetration (for former), and efficiency, reliability, and security (for the latter). In the same year, Maximo Asset Monitor was launched by IBM. It is a monitoring solution that is powered by artificial intelligence technology or AI. By helping high value assets (physical) gain improvement in performance, it allows for better maintenance and operations. Additionally, in 2019 itself, Kemira and ABB entered into a partnership to combine ones expertise in treatment of water with other’s automation solutions.

The global smart water management market is fragmented and with entry of new players, the competitive landscape is predicted to be more fragmented. Key names in the global smart water management market are:

ABB (Switzerland)
Arad Group (Israel)
AquamatiX (UK)
Badger Meter (US)
Honeywell Elster (US)
Huawei (China)
HydroPoint (US)
IBM (US)
i2O (UK)
Itron (US)
Oracle (US)

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This release was published on openPR.