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Emerging Trends Influencing The Growth Of The Digital Water Solution Market: Revolutionizing Water Treatment Through Disinfection System
Digital Water Solution Market
How Big Is the Digital Water Solution Market Size Expected to Be by 2034?
In recent times, the market size for digital water solutions has seen a considerable surge. Projected growth forecasts an increase from a valuation of $1.09 billion in 2024 to an elevated $1.25 billion in 2025, with a compound annual growth rate (CAGR) of 14.2%. Factors contributing to this significant growth during the historic period include a substantial increase in digital data volume, heightened concerns around data security, amplified global demand for data storage, the emergence of biotechnology firms, and increased government funding for DNA research.
Expectations are high for the digital water solution market, which is forecasted to experience significant growth in upcoming years. The market value is projected to reach $2.12 billion by 2029, with a compound annual growth rate (CAGR) of 14.2%. This predicted growth during the forecast period is due to several factors such as the surge in data generation across various sectors, integration with cloud storage facilities, growing usage in the healthcare sector, investigations into archival storage solutions, and wider acceptance in different industries. The forecast period is also likely to witness several trends including the use of DNA data cards for individual storage, implementation of biological cryptography for improved security, product innovation, technology introductions, and applications in edge computing contexts.
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What Are the Emerging Segments Within the Digital Water Solution Market?
The digital water solution market covered in this report is segmented -
1) By Solutions: Hardware, Software, Services
2) By Technology: Metering And Customer Management, Network Management, Work And Asset Management, Plant Management, Information Management
3) By Utility Tier: Tier I, Tier II, Tier III
Subsegments:
1) By Hardware: Smart Water Meters, IoT Sensors, Water Quality Monitoring Devices
2) By Software: Water Management Software, Data Analytics Platforms, Asset Management Solutions
3) By Services: Consulting Services, Installation And Maintenance Services, Training And Support Services
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What Long-Term Drivers Are Shaping Digital Water Solution Market Trends?
The escalating need to manage dwindling water resources is forecasted to fuel the expansion of the digital water solutions market. Dwindling water resources pertain to scenarios where water supply is inadequate compared to its demand. Digital solutions have the potential to transform water infrastructure by enhancing water distribution and curtailing waste through advanced irrigation systems and leak detection technologies. For instance, the United Nations Children's Fund, a U.S.-based United Nations agency, projects that severe water scarcity could displace approximately 700 million individuals by 2030. Additionally, it is estimated that by 2040, one out of every four children worldwide will reside in areas experiencing extremely high water stress. Moreover, as per the United Nations Educational, Scientific and Cultural Organization (UNESCO), a France-based agency advancing global peace and security, around 2 billion people globally lack access to safe drinking water. By 2050, the urban population grappling with water scarcity is predicted to rise to 2.4 billion. Consequently, this escalating demand for managing dwindling water resources is accelerating the expansion of the digital water solutions market.
Who Are the Top Competitors in Key Digital Water Solution Market Segments?
Major companies operating in the digital water solution market report are General Electric Company, The International Business Machines Corporation, Schneider Electric SE, SAP SE, ABB Ltd., Jacobs Solutions Inc., Minsait ACS, Grundfos, Itron Inc., Mueller Water Products Inc., Bentley Systems, Royal Haskoning DHV, Kamstrup, PowerPlan Inc., Copperleaf Technologies Inc., Space-Time Insight Inc., Aqueduct, Innovyze, Analytical Technology, Idrica, Assetic, TaKaDu, Intelliflux Controls, Atonix Digital LLC, Plutoshift
What Digital Water Solution Market Trends Are Gaining Traction Across Different Segments?
Key players in the digital water solution industry are making a concerted effort to incorporate cutting-edge technologies into their water treatment offerings to more effectively meet market needs. For example, in April 2023, AquiSense, an American firm specializing in water treatment and disinfection solutions, unveiled the PearlAqua Deca 30C, a system designed to disinfect water. This system is versatile, usable in large and small point-of-use applications alike. It's ideal for use in commercial and industrial water purification, food and beverage processing, residential settings, and soda machines, among other usage scenarios. The system achieves an impressive 99.99% pathogen elimination rate at four gallons per minute (15 liters per minute) thanks to its use of UV-C LED technology. Additionally, it boasts automatic on-and-off switching or external triggering, customizable alarm outputs, and dynamic power regulation.
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Which Regions Are Becoming Hubs for Digital Water Solution Market Innovation?
North America was the largest region in the digital water solutions market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital water solution market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Digital Water Solution Market?
2. What is the CAGR expected in the Digital Water Solution Market?
3. What Are the Key Innovations Transforming the Digital Water Solution Industry?
4. Which Region Is Leading the Digital Water Solution Market?
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