IoT in Water Management Market will reach at USD 54.4 billion by 2032, demand and future scope with Russia-Ukraine Crisis Impact Analysis -Toshiba, Schneider Electric, Contec Co, Hydrotec Solutions, Siemens, Biz4Solutions, Cott, Sensus, Manx Technology Gr

The global Smart Water Management market size is expected to grow USD 14.1 billion in 2021 to USD 54.4 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 10.1% during the forecast period. The major drivers include rapid urbanization generating enormous pressure on water utilities for quality and continuous water supply and related services; rapid adoption of advanced technologies for innovating smart solutions to cater to the growing water industry challenges; rising concern for sustainable living leading to the development of regulations and laws by governments across the globe to reduce water consumption; and developing water treatment solutions.

The scope of this research report spans from the broad outlines of the IoT in Water Management market to delicate structures, classifications, and applications. This research report also provides a clear picture of the global market by presenting data through effective information graphics. It also provides a detailed list of factors affecting the growth of the market.

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Key Players Mentioned in the Global IoT in Water Management Market Research Report:

Toshiba, Schneider Electric, Contec Co, Hydrotec Solutions, Siemens, Biz4Solutions, Cott, Sensus, Manx Technology Group, Kubota, Alfa Laval, Hitachi

Global IoT in Water Management Market Segmentation:

IoT in Water Management Market Types:

Water Conservation, Smart Irrigation, Smart Water Management, Waste Water Management, Water Quality Testing and Analysis.

IoT in Water Management Market Applications:

Industrial, Commercial, Residential

Market Dynamics
Driver: The increasing need for insightful approaches to oversee natural water resources with urban areas becoming increasingly smarter and technologically advanced
Factors such as a surge in population, economic development, and continued urbanization, as well as the growth in per-capita food consumption, have emanated a global challenge of coping with the rising demand for (renewable) water resources. According to the UN World Water Development Report 2021, over 2 billion people live in water-stressed areas. About 3.4 billion people, or 45% of the world's population, do not have access to safe sanitation facilities. According to their estimates, the world would face a 40% global water deficit by 2030. With such limited water resources and the rising demand, countries are unable to provide water in sufficient quantities and of acceptable quality by using traditional water management systems. The existing water sources are also being over-exploited or mismanaged, causing water utilities to face challenges, such as NRW losses, water contamination, and the inability to provide an uninterrupted water supply. This scenario leads water utilities to readily investigate innovative solutions to utilize the available water resources efficiently, with a sustainable approach.

The base of geography, the world market of IoT in Water Management has segmented as follows:

North Americaincludes the United States, Canada, and Mexico
Europeincludes Germany, France, UK, Italy, Spain
South Americaincludes Colombia, Argentina, Nigeria, and Chile
The Asia Pacificincludes Japan, China, Korea, India, Saudi Arabia, and Southeast Asia
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COVID-19 Impact

Report covers Impact of Coronavirus COVID-19: Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost every country around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the IoT in Water Management Market in 2022.

Based on Offering:
Water Meters
Solutions
Services

Based on Water Meters:
AMR Meters
AMI Meters
Based on Solutions

Enterprise Asset Management
Asset Condition Monitoring
Predictive Maintenance
Analytics and data management
Meter data management
Supervisory control and data acquisition
Security
Smart irrigation management
Advanced pressure management
Mobile workforce management
Network management
Customer information system and billing
Leak detection
Other Solutions

Based on Service:
Professional Services
Consulting services
System integration and deployment services
Support and maintenance services
Managed Services

Based on End User:
Commercial and industrial
Residential

Based on Regions:
North America
Europe
APAC
MEA
Latin America

Recent Developments:
In October 2021, ABB partnered with Danish water environment specialist DHI Group. ABB and DHI Group together planned to develop a suite of digital solutions to enable faster and more accurate decision-making for water and wastewater utilities.
In August 2021, IBM collaborated with Black & Veatch to expand its portfolio on artificial intelligence-driven monitoring solutions.
In June 2021, ABB launched the latest version of ABB Ability, an analytics software and services solution that combines operational data with engineering and IT data. It delivers actionable intelligence using a scalable advanced analytics platform with pre-built, easy-to-use applications and services.
In June 2021, Itron signed a contract with United Utilities in England to Optimize Operations. Itron's cloud-based meter data collection and management solution, Temetra, is expected to improve water delivery and management.
In March 2021, The SUEZ and Schneider Electric had a joint venture in digital water to develop a market and joint offering of innovative digital solutions to manage the water cycle.

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The Residential Segment is Expected to Hold the Major Share
Residential water usage accounts for a large portion of water consumption globally, as water is considered a luxury that needs to be conserved efficiently. Therefore, technology also plays a vital role in making people liable for the misuse of water.

Consumers are upgrading their residences by adopting smart water management software and hardware. This adoption rate is rapidly increasing as software and hardware become cheaper and more affordable. Digitization, along with the adoption of connected technologies, is impacting all applications of smart water management solutions by revolutionizing the way smart water management systems interact with the surroundings in the residential sector.
As customers in the residential applications are becoming increasingly aware of the benefits of smart water management solutions in terms of reduced water wastage, the demand for such solutions for home and building automation is expected to increase over the forecast period. For instance, in July 2021, RealPage Inc., a global provider of real estate software and data analytics, launched Smart Water, the first multifamily solution to use submeter technology, to drastically lower the cost of water management for both residential units and common areas.

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Competitive Landscape-
The smart water management market is pretty fragmented, as the market comprises several global players and emerging new players vying for attention in a somewhat contested market space. The market is witnessing intensifying competitive rivalry due to new startups in IoT and AI-based offerings, which are expected to rise through the forecast period. Some significant companies include ABB Limited, IBM Corporation, Schneider Electric, and Honeywell International Inc. Some noticeable recent developments in the market include:

October 2021 - ABB has signed a partnership agreement with a Danish water environment specialist to collaboratively create the next generation of smart water solutions that encourage more attentive water use. These solutions would enable clients in this market to better control water availability and increase plant operating efficiency in both process and energy optimization.
June 2021 - Mueller Water Products Inc. declared that it had acquired i2O Water Ltd. for approximately USD 20 million in cash. The acquisition will give i2O access to more significant financial resources and help it introduce its products and solutions in North America, where i20 currently has a minimal presence.

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