Press release
Smart Water Management Market (2024-2030): Growing from USD 16.90 Billion to USD 32.53 Billion
Smart Water Management Market
Smart water management integrates advanced technologies to modernize conventional water distribution systems, aimed at curbing water wastage and optimizing resource usage. The shift toward such smart solutions is driven by escalating water shortages and a pressing global need for conservation. Industrial and governmental stakeholders worldwide are increasingly adopting these systems to enhance water management, improve operational efficiencies, and minimize non-revenue water losses stemming from issues such as theft and leakage.
๐๐ก๐ ๐๐๐๐๐-19 ๐๐ฆ๐ฉ๐๐๐ญ ๐จ๐ง ๐ญ๐ก๐ ๐๐๐ซ๐ค๐๐ญ
The outbreak of COVID-19 had a significant negative effect on global economies, including the smart water management market. The pandemic's containment measures, such as lockdowns and restricted movement, disrupted operational capacities across industries. This impacted water consumption in the commercial sector and led to delays in investments in smart water technologies. Governments prioritized residential water use, which temporarily elevated the non-commercial segment's share. In developed regions like the U.S., the water sector experienced revenue drops of nearly 16.9% during the pandemic, influenced by deferred payments and reduced industrial water consumption. Consequently, this setback is expected to delay new investments, though a gradual recovery is anticipated over the forecast period.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐จ๐ฎ๐ซ ๐ ๐ซ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ง๐ฌ๐ญ๐๐ง๐ญ๐ฅ๐ฒ: https://www.maximizemarketresearch.com/request-sample/28269/
๐๐ฆ๐๐ซ๐ญ ๐๐๐ญ๐๐ซ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐๐๐ ๐๐ฌ๐ญ๐ข๐ฆ๐๐ญ๐ข๐จ๐ง:
The Smart Water Management Market was valued at USD 16.90 billion in 2023 and is anticipated to grow to USD 32.53 billion by 2030, with an estimated CAGR of 9.8% over the forecast period. This article explores the growth trajectory, dynamics, and future prospects of the market.
๐๐ฆ๐๐ซ๐ญ ๐๐๐ญ๐๐ซ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐ฒ๐ง๐๐ฆ๐ข๐๐ฌ
๐๐ซ๐ข๐ฏ๐๐ซ๐ฌ ๐จ๐ ๐๐ซ๐จ๐ฐ๐ญ๐ก
The market is poised for growth driven by rapid technological advancements in water and wastewater treatment, including the adoption of advanced metering infrastructure (AMI) and Supervisory Control and Data Acquisition (SCADA) systems. These technologies enable real-time monitoring, data collection, and efficient control of water distribution, promoting better management. The adoption of ICT (Information and Communication Technology) for real-time data analysis is further propelling market expansion.
A growing global concern over water scarcity and the urgent need for sustainable management practices are significant contributors to the market's positive trajectory. Governmental and corporate initiatives aimed at addressing increasing water demand and reducing losses are expected to bolster the market throughout the forecast period.
๐๐ก๐๐ฅ๐ฅ๐๐ง๐ ๐๐ฌ ๐ข๐ง ๐ญ๐ก๐ ๐๐๐ซ๐ค๐๐ญ
Despite promising growth, the market faces challenges, including high initial setup costs and a lower return on investment in the short term. Moreover, insufficient awareness of the benefits of smart water management systems could slow adoption rates, particularly in developing regions.
๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐๐๐๐ข๐ญ๐ข๐จ๐ง๐๐ฅ ๐๐๐ญ๐๐ข๐ฅ๐ฌ ๐๐ฒ ๐๐ฅ๐ข๐๐ค๐ข๐ง๐ ๐ญ๐ก๐ ๐ฅ๐ข๐ง๐ค ๐ฉ๐ซ๐จ๐ฏ๐ข๐๐๐: https://www.maximizemarketresearch.com/request-sample/28269/
๐๐ฆ๐๐ซ๐ญ ๐๐๐ญ๐๐ซ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง
๐๐ฒ ๐๐๐ฏ๐๐ง๐๐๐ ๐๐๐ญ๐๐ซ ๐๐๐ญ๐๐ซ๐ฌ
By Meter Solution
By Meter Read Service
๐๐ฒ ๐๐จ๐ฅ๐ฎ๐ญ๐ข๐จ๐ง
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
Solution Segment: The SCADA systems segment accounted for the largest market share in 2023. SCADA systems are tailored to provide remote monitoring, historical data logging, and optimization capabilities, supported by an intuitive human-machine interface (HMI). The demand for such comprehensive solutions is expected to drive significant growth in this segment.
๐๐ฒ ๐๐๐ซ๐ฏ๐ข๐๐
Professional services
Maintenance and support
Deployment and integration
Consulting services
Managed services
Service Segment: The professional services segment dominated in 2023, providing maintenance, cost analysis, and supply management solutions. The complexity of acquiring cost and performance benchmarks further reinforces the need for expert support in implementing and maintaining smart water systems.
๐๐ฒ ๐๐จ๐ฎ๐ง๐ญ๐ซ๐ฒ
United States
Canada
Mexico
๐๐ฆ๐๐ซ๐ญ ๐๐๐ญ๐๐ซ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ
โฆ North America: This region held the highest market share in 2023, driven by stringent regulatory frameworks and a push for sustainable solutions. The strong economic backdrop and technological advancements in Europe are expected to sustain regional market growth during the forecast period.
โฆ Asia Pacific: The fastest-growing region, driven by substantial governmental initiatives to promote smart city projects and raise awareness about water conservation. Nations like China, India, and Japan are investing heavily in infrastructure that supports smart water management.
๐ ๐จ๐ซ ๐๐จ๐ซ๐ ๐๐ง๐๐จ๐ซ๐ฆ๐๐ญ๐ข๐จ๐ง ๐๐๐จ๐ฎ๐ญ ๐๐ก๐ข๐ฌ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐ฅ๐๐๐ฌ๐ ๐๐ข๐ฌ๐ข๐ญ : https://www.maximizemarketresearch.com/request-sample/28269/
๐๐ฆ๐๐ซ๐ญ ๐๐๐ญ๐๐ซ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐๐จ๐ฉ๐ ๐๐ง๐ ๐๐๐ญ๐ก๐จ๐๐จ๐ฅ๐จ๐ ๐ฒ
The report provides an estimation of the market size for the Smart Water Management market, encompassing an analysis of current and future trends. It offers a detailed examination of key developments, marketing strategies, supply and demand indicators, and company profiles of market owners, leaders, potential players, and new entrants. The Smart Water Management Market report adopts a bottom-up approach, utilizing both primary and secondary data sources. Primary research involves interviews with significant market leaders and industry experts, including business owners and marketing specialists. Secondary research involves reviewing the financial and annual reports of top manufacturers. Segment-wise analysis of the Smart Water Management market is conducted based on specific criteria. To enhance understanding of market penetration, competitive landscape, demand analysis, and regional analysis, the report covers local, regional, and global levels.
๐๐ฆ๐๐ซ๐ญ ๐๐๐ญ๐๐ซ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ
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.
๐๐จ๐ง๐๐ฅ๐ฎ๐ฌ๐ข๐จ๐ง ๐๐ง๐ ๐๐ญ๐ซ๐๐ญ๐๐ ๐ข๐ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ
The global smart water management market stands at the cusp of significant growth, supported by technological innovations and heightened awareness of water sustainability. While initial investment costs and knowledge gaps pose challenges, ongoing technological developments and increased government participation are set to drive long-term growth.
๐๐จ ๐๐๐๐๐ฌ๐ฌ ๐ฆ๐จ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ซ๐๐ก๐๐ง๐ฌ๐ข๐ฏ๐ ๐ข๐ง๐๐จ๐ซ๐ฆ๐๐ญ๐ข๐จ๐ง, ๐๐ฅ๐ข๐๐ค ๐ก๐๐ซ๐: https://www.maximizemarketresearch.com/market-report/global-smart-water-management-market/28269/
๐๐๐ฒ ๐ช๐ฎ๐๐ฌ๐ญ๐ข๐จ๐ง๐ฌ ๐๐ง๐ฌ๐ฐ๐๐ซ๐๐ ๐ข๐ง ๐ญ๐ก๐ ๐๐ฆ๐๐ซ๐ญ ๐๐๐ญ๐๐ซ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐:
What is Smart Water Management?
What are the different segments of the Smart Water Management Market?
What growth strategies are the players considering to increase their presence in Smart Water Management?
What are the upcoming industry applications and trends for the Smart Water Management Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Smart Water Management Market?
Who are the key players in the Smart Water Management market?
What major challenges could the Smart Water Management Market face in the future?
What segments are covered in the Smart Water Management Market?
Who are the leading companies and what are their portfolios in Smart Water Management Market?
๐๐จ๐จ๐ค ๐๐ก๐ซ๐จ๐ฎ๐ ๐ก ๐๐ฎ๐ซ ๐๐จ๐ฌ๐ญ ๐๐จ๐ฉ๐ฎ๐ฅ๐๐ซ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ:
โ Green and Bio Polyols Market https://www.maximizemarketresearch.com/market-report/green-and-bio-polyols-market/147933/
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โ Global Water-Based Coatings Market https://www.maximizemarketresearch.com/market-report/global-water-based-coatings-market/70038/
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โ Global Mobile Unified Communications and Collaboration Market https://www.maximizemarketresearch.com/market-report/global-mobile-unified-communications-collaboration-market/8107/
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โ Global Alzheimer's Disease Diagnostic Market https://www.maximizemarketresearch.com/market-report/global-alzheimers-disease-diagnostic-market/116921/
โ Global Hospital Information Systems Market https://www.maximizemarketresearch.com/market-report/global-hospital-information-systems-market/83327/
๐๐จ๐ง๐ญ๐๐๐ญ ๐๐๐ฑ๐ข๐ฆ๐ข๐ณ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
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๐๐๐จ๐ฎ๐ญ ๐๐๐ฑ๐ข๐ฆ๐ข๐ณ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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