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In-Depth Analysis of the Smart Water Management Market: Growth Opportunities, Key Trends, and Forecast 2025-2034
Smart Water Management Market Forecast
The surge in need for potable water due to the growing global population is projected to propel the expansion of the smart water management market. With the increase in population, the water requirements for domestic, industrial, agricultural, and municipal uses also rise. The crucial role of clean water for ensuring health, food and nutritional safety has been underscored during the COVID-19 pandemic. Intelligent water management systems can expedite action plans by pinpointing fragile food value chains, including market locations and crucial zones, and developing customized, prioritized interventions to enhance clean water accessibility in urban, peri-urban, and rural regions. For instance, a report from IntechOpen, a UK-based open books and journals publisher, anticipates the world's population to hit 8.6 billion by 2030 and 9.8 billion by 2050. Additionally, the UN World Water Development Report suggests that global water demand is predicted to rise by 1% annually, accounting for a 20 to 30% increase by 2050, largely driven by greater demand from domestic and industrial sectors.
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How will the growth rate of the smart water management market shape industry trends by 2034?
The market for smart toys has seen significant expansion in the past few years. This market is projected to expand from $20.85 billion in 2024 to $25.24 billion in 2025, displaying a compound annual growth rate (CAGR) of 21.1%. Factors contributing to the growth experienced in the historic period include the aging water infrastructure, heightened awareness and public insistence on efficient water management, increased urbanization along with smart city drives, a surge in demand for considerable reduction in losses due to non-revenue water, and heightened consciousness regarding water wastage.
In the upcoming years, the smart toy industry is anticipated to experience significant expansion, escalating to $56.22 billion by 2029 with a 22.2% Compound Annual Growth Rate (CAGR). This projected growth in the forecasted period can be credited to factors such as increased investment in smart cities, greater implementation of smart water management systems, funding and incentives, the effects of climate change, and the ability to monitor and control remotely. Key trends in the forecast period encompass facets like artificial intelligence (AI) and machine learning (ML), internet of things (IOT) and connectivity, augmented reality (AR) and virtual reality (VR), cloud-based resources, and the use of remote sensing and satellite technology.
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What trends are poised to drive the future success of the smart water management market?
Leading players in the worldwide smart water management sector are centering their efforts on the creation of cutting-edge solutions, including hybrid cloud and artificial intelligence technologies. Additionally, they are also establishing networks of specialists to expand and refine projects aimed at communities exposed to environmental harm. The hybrid cloud is a computing configuration that merges on-site infrastructure and both public and private cloud services, providing increased flexibility and scalability. Meanwhile, Artificial Intelligence (AI) replicates cognitive processes in machines, thus enabling them to learn, make logical deductions, and make decisions informed by data. For instance, in March 2023, the International Business Machines Corporation, a technology company based in the US, issued a Request for Proposals (RFP) purposed at accelerating worldwide water management strategies with a particular focus on susceptible populations. The aim is to incorporate intelligent technologies like the IoT and AI to supervise and optimize water resources, thereby enhancing resilience in susceptible regions impacted by climatic shifts and other strains.
Which primary segments of the smart water management market are driving growth and industry transformations?
The smart water management market covered in this report is segmented -
1) By Offering: Water Meters, Solutions, Services
2) By Product Type: Advanced Water Meters, Meter Read Technology, Cellular Network
3) By End User: Residential, Commercial, Industrial
Subsegments:
1) By Water Meters: Smart Water Meters, Wireless Water Meters, Multi-Jet and Single-Jet Meters
2) By Solutions: Water Quality Monitoring Solutions, Leak Detection Solutions, Smart Irrigation Systems, Water Usage Analytics and Management Solutions
3) By Services: Installation and Integration Services, Maintenance and Support Services, Consulting Services for Water Management, Data Management and Analysis Services
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Which geographical regions are pioneering growth in the smart water management market?
North America was the largest region in the smart water management market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart water management market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Who are the influential players reshaping the smart water management market landscape?
Major companies operating in the smart water management market include Honeywell International Inc., Siemens Aktiengesellschaft, ABB Ltd., International Business Machines Corporation., Itron Inc., Schneider Electric SE, SUEZ Group SA, Sensus USA Inc., Trimble Inc., Elentec Co. Ltd., HydroPoint Data Systems Inc., TaKaDu Ltd., AquamatiX Limited, Nalco Water India Limited, Xenius GmbH, Xylem Inc., Badger Meter Inc., A. O. Smith Corporation, Aclara Technologies LLC, IDEX Corporation, Mueller Water Products Inc., Kamstrup A/S, Elster Group SE, Landis+Gyr Group AG, Echologics Engineering Inc., Neptune Technology Group Inc., Innovyze Inc., Aquatic Informatics Inc., Syrinix Ltd., Zenner International GmbH & Co. KG, WaterSmart Software Inc., Utilis Corp.
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What Is Covered In The Smart Water Management Global Market Report?
•Market Size Forecast: Examine the smart water management market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the smart water management market for a structured understanding.
•Key Players Overview: Analyze major players in the smart water management market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the smart water management market.
•Segment Contributions: Evaluate how different segments drive overall growth in the smart water management market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the smart water management market.
•Industry Challenges: Identify potential risks and obstacles affecting the smart water management market.
•Competitive Landscape: Review strategic developments in the smart water management market, including expansions, agreements, and new product launches.
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