Press release
Global Smart Water Management Market Outlook 2025-2034: Trends, Innovations, And Future Outlook
Smart Water Management
What Is the Smart Water Management Market Size and Projected Growth Rate?
The market size for smart toys has seen an impressive increase over the last few years. It is projected to rise from $20.85 billion in 2024 to $25.24 billion in 2025, with a compound annual growth rate (CAGR) of 21.1%. This notable growth during the historic period can be ascribed to factors such as outdated water infrastructure, heightened cognizance and public requirement for effective water management, increased urbanization, and the implementation of smart city initiatives. There's also a growing demand for considerably reducing losses arising from nonrevenue water, coupled with an increased awareness about the consequences of water wastage.
Anticipated to experience substantial expansion in the coming years, the smart toys market is predicted to reach a market size of $56.22 billion by 2029, with a compound annual growth rate (CAGR) of 22.2%. Factors contributing to the projected growth during this period include increasing investments in smart cities, the rising use of smart water management systems, financial support and incentives, the effects of climate change, and the adoption of remote monitoring and control. Key trends expected to shape the market in the future include the implementation of artificial intelligence (AI) and machine learning (ML), internet of things (IOTA) connectivity, augmented reality (AR) and virtual reality (VR), cloud-based solutions, and the application of remote sensing and satellite technology.
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What Are the Major Segments in the Smart Water Management Market?
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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What Are The Driving Smart Water Management Market Evolution?
The growth of the smart water management market is projected to be propelled by a rising demand for pure water, resulting from global population growth. As more individuals populate the planet, the requirement for water across domestic, industrial, agricultural, and municipal sectors becomes more pronounced. The COVID-19 pandemic underscored the significance of clean water in ensuring health and maintaining food and nutritional security. Identifying vulnerable food value chains, including market locales and crucial areas, and crafting custom-made, priority interventions to improve access to clean water in urban, suburban, and rural locations can be expedited through smart water management systems. For example, IntechOpen, an open books and journals publisher based in the UK, forecasts that the global population will swell to 8.6 billion by 2030 and to 9.8 billion by 2050. In addition, the UN World Water Development Report suggests that global water demand will grow by about 1% annually, leading to an increase of 20 to 30% by the close of 2050, driven by a surge in demand from both domestic and industrial sectors.
Which Firms Dominate The Smart Water Management Market Segments?
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.
What Trends Are Expected to Dominate the Smart Water Management Market in the Next 5 Years?
Key players in the global smart water management market are concentrating on the advancement of innovative technologies like hybrid cloud and artificial intelligence, and the establishment of a network of specialists to improve and expand projects centered around communities susceptible to environmental hazards. The hybrid cloud merges on-site infrastructure with both public and private cloud services, bringing more versatility and scalability. Artificial intelligence mimics human cognitive processes in machines, allowing them to learn, reason, and make decisions rooted in data. For instance, in March 2023, the US-based tech firm International Business Machines Corporation introduced a Request for Proposals (RFP) aimed at hastening global water management solutions that specifically tackle the needs of those most vulnerable. The emphasis here is on incorporating smart technologies, such as IoT and AI, to supervise and maximize water resources, thus promoting resilience in areas vulnerable to climate change and other strains.
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Which Is The Largest Region 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Smart Water Management Market?
2. What is the CAGR expected in the Smart Water Management Market?
3. What Are the Key Innovations Transforming the Smart Water Management Industry?
4. Which Region Is Leading the Smart Water Management Market?
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