Press release
Smart Water Management Market: Rising Need to Save Water drives Market Globally
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The SWM market is driven by various factors such as aging water infrastructure, lack of water management in urban areas, need for mapping water resources and need to reduce non-revenue water (NRW). Furthermore, water regulatory bodies in North America and Europe are mandating stricter environmental standards related to smart water management which is another important driver for this market. The global smart water management market was valued at USD 4,813.3 million in 2012 and is expected to grow at a CAGR of 17.7% during the forecast period from 2013 to 2019. However, high cost of installation of advanced metering infrastructure (AMI) inhibiting the growth of this market.
The three main components are hardware, solutions and services. Hardware segment was the largest component segment in 2012 and accounted for 40.1% revenue share of the global SMW market. Solutions segment is expected to grow at a faster rate due to growing demand for various advanced software for smart water management such as Hymer (Orbicon), ReadCenter AnalyticsPro and ReadCenter Analytics+, and Intelligent Operations Center (IOC) software (IBM) among others
North America was the largest revenue generator in 2012 and accounted for 47.5% revenue share of the global SWM market. Dominance of the region is due to increase in investment in SMW technologies in order to minimize water loss and reduce the amount of NRW (non-revenue water) by various water utilities in North America. Asia Pacific is expected to show fastest growth during the forecast period at a CAGR of 23.7%. The growth in this region is attributed to rainfall variability, scarcity of potable water resources and huge water losses in agriculture due to overwatering.
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Most of the smart water management solution providers are competing among each other by developing state of the art technology products to get competitive advantage. The global SWM market is fragmented in nature with dominance of large number of local players across different geographies. In 2012, majority of the market i.e. 67.1% share was held by local and regional players offering solutions and services for smart water management. Itron Inc. was the global market leader in 2012. Other players in the market include Arad Metering Technologies, ABB Ltd., Sensus USA Inc., Schneider Electric SA, I2O Water Ltd., General Electric Company, and TaKaDu Ltd.
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