Digital Water Solutions Market Sees Explosive Growth Globally

According to the latest research report published by Market Data Forecast, the global digital water solutions market is predicted to reach US$ 150.96 billion by 2029 from an estimated US$ 40.54 billion in 2023, and grow with a CAGR of 30.8% during the foreseen period 2024-2029.

Digital water solutions provide water network monitoring and acoustic leak detection systems that track water temperature, acoustics, pressure, and transient pressure events. They also gather data and report distribution system problems to utilities.

Global Digital Water Solutions Market Report Scope:

• Market Size (2029): USD 150.96 Billion
• Market Size (2023): USD 40.54 Billion
• CAGR (2024 to 2029): 30.8%
• Base Year: 2023
• Forecast Period: 2024 to 2029
• Segments Analysed: Technology, Solution Type, Utility Tier, and Geography
• Geographies Covered: North America, Europe, APAC, Latin America, and Middle East & Africa
• Key Market Players Profiled: Bentley Systems (US), Innovyze (US), Schneider Electric (France), Minsait, Atonix Digital (US), Plutoshift (US), Assetic (Australia), ABB (Switzerland), Space-Time Insight (US), Aqueduct (US), PowerPlan (US), Copperleaf Technologies (Canada), Intelliflux Controls (US), TaKaDu (Israel), and Analytical Technology, Inc. (US), Arad Group (Israel), AquamatiX (UK), Badger Meter (US), Honeywell Elster (US), Huawei (China), HydroPoint (US), IBM (US), i2O (UK), Itron (US), Oracle (US), Landis+Gyr (Switzerland), Sensus (US), Siemens (Germany), Suez (France) SenzIoT (India), Trimble Water (US), and XENIUS (India), and Others.

Market Drivers:

The increasing prevalence of smart technologies is propelling the growth of the digital water solutions market. This provides new opportunities by shifting from conventional to creative and advanced approaches and utilizing the capabilities of sensor systems and the Internet of Things.
Moreover, the increasing demand for high-quality water services and the rising digitalization of the distribution sector are the two key factors pushing forward the expansion of the global digital water solutions market. Although utility companies are the ones responsible for carbon pollution and intelligent water technologies, the market for digital water solutions is anticipated to expand during the forecast period.
Another factor driving the sale of these systems and services is the need to replace the outdated water infrastructure. It is becoming increasingly important to improve the existing digital water solutions. This is because of technology breakthroughs. So, the change begins with the use of digitization, ML-based data analytics solutions, and artificial intelligence. Furthermore, unique water solutions for public spaces, residential complexes, and buildings can be built with digital data. Water data travels back and forth between control centers and the edge across the IoT.

Market Restraints:

The expansion of the digital water solutions market is limited by reduced investment in infrastructural development. Also, industry growth faces obstacles due to a lack of skilled labor and low capital funding for improving infrastructure. In addition, the development is further hampered by the high implementation costs of smart water management infrastructure. The development of the smart water management sector will be hampered by the difficulty of using new technology to improve the water infrastructure. Moreover, twenty-five percent of drinking water in Europe is lost before it reaches consumers; in extreme cases, this loss exceeds forty percent.
Moreover, the water utility will witness digitalization as a series of steps to become a smart utility. The water industry is not as digitally advanced as other industries since a large number of water utilities around the world have not yet recognized the advantages of digital transformation.
Furthermore, problems such as pollution, stress, and water scarcity are getting worse due to growing demand and the effects of climate change on water cycles. Also, by 2030, there will be a 40% increase in freshwater demand over availability.

Browse full details of the report @ https://www.marketdataforecast.com/market-reports/digital-water-solutions-market

SEGMENTATION INCLUDED IN THIS REPORT:

By Technology:
• Metering & Customer Management
• Network Management
• Work & Asset Management
• Plant Management
• Information Management

By Solution Type:
• Hardware
• Software
• Services

By Utility Tier:
• Tier 1
• Tier 2
• Tier 3

By Region:
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Key Insights from The Report:

• By technology, the metering and customer measurement segment led the market and accounted for the largest share of the global market in 2023.
• Based on solution type, the software segment captured the highest share of the global market in 2023.
• Based on utility tier, the tier 1 segment dominated the market in 2023.
• North America dominated the telemedicine market in 2023. Europe accounted for the second-highest share of the global market in 2023 and on the other hand, the Asia-Pacific region is estimated to grow at the fastest CAGR during the forecast period.

TABLE OF CONTENTS:

1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year, and Forecast Periods

2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline

3. Report Overview
3.1 Executive Summary
3.2 Key Inferences

4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends

5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market Share Analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquisition Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Digital Water Solutions Market, By Technology
6.1.1 Metering & Customer Management
6.1.2 Network Management
6.1.3 Work & Asset Management
6.1.4 Plant Management
6.1.5 Information Management
6.1.6 Market Size Estimations & Forecasts (2024-2029)
6.1.7 Y-o-Y Growth Rate Analysis
6.1.8 Market Attractiveness Index
6.2 Digital Water Solutions Market, By Solution Type
6.2.1 Hardware
6.2.2 Software
6.2.3 Services
6.2.4 Market Size Estimations & Forecasts (2024-2029)
6.2.5 Y-o-Y Growth Rate Analysis
6.2.6 Market Attractiveness Index
6.3 Digital Water Solutions Market, By Utility Tier
6.3.1 Tier 1
6.3.2 Tier 2
6.3.3 Tier 3
6.3.4 Market Size Estimations & Forecasts (2024-2029)
6.3.5 Y-o-Y Growth Rate Analysis
6.3.6 Market Attractiveness Index

7. Geographical Landscape
7.1 Global Digital Water Solutions Market, by Region
7.2 North America - Market Analysis (2024-2029)
7.2.1 By Country
7.2.2 By Technology
7.2.3 By Solution Type
7.2.4 By Utility Tier
7.3 Europe
7.3.1 By Country
7.3.2 By Technology
7.3.3 By Solution Type
7.3.4 By Utility Tier
7.4 Asia Pacific
7.4.1 By Country
7.4.2 By Technology
7.4.3 By Solution Type
7.4.4 By Utility Tier
7.5 Latin America
7.5.1 By Country
7.5.2 By Technology
7.5.3 By Solution Type
7.5.4 By Utility Tier
7.6 Middle East and Africa
7.6.1 By Country
7.6.2 By Technology
7.6.3 By Solution Type
7.6.4 By Utility Tier

8. Key Player Analysis
8.1 Bentley Systems
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Schneider Electric
8.3 Plutoshift
8.4 ABB Ltd
8.5 Aqueduct
8.6 Badger Meter
8.7 Honeywell Elster
8.8 Huawei
8.9 Siemens AG
8.10 TaKaDu

9. Market Outlook & Investment Opportunities

10. Appendix
List of Tables
List of Figures

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