Press release
Global Smart Water Management Market Projected to Reach US$ 29.63 Billion by 2029, Fueled by Rising Water Conservation Efforts
Smart Water Management Market
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Report Scope:
Our latest report on the Global Smart Water Management Market offers comprehensive insights into market values, drivers, restraints, and regional dynamics. Leveraging advanced research methodologies, the report provides actionable intelligence to stakeholders seeking to capitalize on emerging opportunities in the smart water management landscape.
Research Methodology:
Combining primary and secondary research alongside advanced analytical tools, our report delivers accurate forecasts and strategic insights. By analyzing complex data in a simplified manner, we empower decision-makers with the information needed to navigate the evolving smart water management market effectively.
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Market Drivers:
Technological Advancements: Innovations in water and wastewater treatment technologies, including enhanced metering and SCADA systems, are driving market growth by improving operational efficiency and management.
Water Conservation Initiatives: Increasing water shortages and rising demand for water conservation globally are compelling governments and businesses to adopt smart water management solutions, fueling market expansion.
Market Restraints:
High Initial Investment Costs: The high initial investment required for implementing smart water management solutions, coupled with low rates of return, may hinder market growth.
Lack of Awareness: Limited awareness about the benefits of smart water management solutions could impede market growth, particularly in regions with a shortage of knowledge.
Regional Insights:
North America: Dominating the market, North America holds the largest share, driven by sustainable energy initiatives and stringent government regulations. The shift towards cloud deployment is further bolstering market growth in the region.
Europe: With significant economic growth and technological advancements, Europe is expected to witness substantial revenue growth in the smart water management market.
Asia Pacific: The fastest-growing market, Asia Pacific, is fueled by government initiatives to enhance public awareness and the proliferation of smart city projects, particularly in countries like China, Japan, and India.
Latin America and Middle East & Africa: These regions are projected to experience modest growth, driven by increasing investments in asset management infrastructure projects.
Recent Developments:
AECOM and IBM collaborated on a "Smarter Water" system in March 2021 to improve water management, leveraging IBM Intelligent Water software and AECOM's expertise.
Aquify and TaKaDu announced a strategic alliance in January 2021 to offer sophisticated water technologies and digital solutions to the US water utility market.
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Smart Water Management Market Segmentation:
by Advanced Water Meters
By Meter Solution
By Meter Read Service
by Solution
Enterprise asset management for water and wastewater utilities
Network monitoring
Advanced pressure management
SCADA systems for water and wastewater utilities
Advanced analytics
Meter data management (MDM) for water
Residential water efficiency
Smart irrigation management systems
According to the solution, the smart water management industry's revenue share of SCADA systems for water and wastewater utilities is anticipated to reach its peak in 2022. Using an open integration platform and a strong Human Machine Interface (HMI), SCADA programmers are specifically designed to provide remote alerting, real-time historical databases, alarm management, optimization, and notification. These kinds of SCADA systems are expected to drive segment expansion in the near future.
by Service
Professional services
Maintenance and support
Deployment and integration
Consulting services
Managed services
In terms of market share, the professional service segment had the biggest share in 2022.The maintenance service includes information analysis on price, supply, market, and cost. It is hard to get information on performance benchmarks, supplier details, and cost and TCO models. Both geographical and macroeconomic trends have an impact on cost, supply, and other market factors.
by Country
United States
Canada
Mexico
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Smart Water Management Market Key Players:
1. ABB Group
2. General Electric Company
3. IBM Corporation
4. Itron, Inc.
5. Schneider Electric SE
6. Arad Group
7. Elster Group SE
8. Sensus
9. Siemens AG
10. TaKaDu Ltd.
11. Aclara Technologies LLC.
12. Neptune Technology Group
13. Global Water Resources
14. Cambrian Innovation Inc.
15. A.U.G. Signals Ltd.
Table of content for the Smart Water Management Market includes:
Global Smart Water Management Market: Research Methodology
Global Smart Water Management Market: Executive Summary
Market Overview and Definitions
Introduction to the Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
3.Global Smart Water Management Market: Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
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Key Offerings:
A detailed Market Overview
Market Share, Size, and Forecast by Revenue
Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
Market Segmentation- A detailed analysis of each segment and their segments
Competitive Landscape - Leading key players and other prominent key players.
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