Key Trends Reshaping the Smart Water Management Market: Strategic Collaborations Reshaping The Smart Water Management Market Industry Transformation

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Smart Water Management Market Size Growth Forecast: What to Expect by 2025?
The market for smart water management has seen rapid expansion in the past few years. The market is projected to increase from a valuation of $17.36 billion in 2024 to about $19.9 billion in 2025, with a compound annual growth rate (CAGR) of 14.6%. The historic growth of this market can be credited to factors such as deteriorating water infrastructure, heightened awareness and public demand for effective water management, growth in urbanization and smart city initiatives, an increasing demand for substantial reduction in losses resulting from nonrevenue water, and a heightened consciousness regarding water waste.

How Will the Smart Water Management Market Size Evolve and Grow by 2029?
The market size for smart water management is set for substantial expansion in the upcoming years, with projections estimating a rise to $35.38 billion by 2029, reflecting a compound annual growth rate (CAGR) of 15.5%. This surge during the forecast period can be linked to increased investments in smart cities, a higher acceptance of smart water management systems, governmental funding and incentives, the effects of climate change, and advances in remote monitoring and control. Key trends for this period are likely to include artificial intelligence (AI) and machine learning (ML), internet of things (IOT) and its connectivity, augmented reality (AR) and virtual reality (VR), cloud-based solutions, as well as the integration of remote sensing and satellite technology.

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What Drivers Are Propelling the Growth of Smart Water Management Market Forward?
The escalating demands for purified water due to the growing global populace is predicted to significantly fuel the expansion of the smart water management market. The population surge will heighten the need for water in household, industrial, farming and municipal sectors. The critical requirement for sanitary water for health, nourishment and food safety was underscored throughout the COVID-19 pandemic. Advanced water management systems could enhance response strategies by recognizing potentially vulnerable food value chains, comprising market locations and crucial zones, and creating custom-made and prioritized tactics to ameliorate access to sanitary water in cities, outlying urban areas and the countryside. For example, as stated by IntechOpen, a UK-based open access books and journals publisher, it is anticipated that the global population will reach approximately 8.6 billion by 2030 and 9.8 billion by 2050. Moreover, according to the UN World Water Development Report, the worldwide water demand is predicted to elevate by 1% annually, which translates to a hike of 20 to 30% by 2050 due to heightened needs from household and industrial divisions.

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What Trends Will Shape the Smart Water Management Market Through 2029 and Beyond?
Key players in the worldwide smart water management market are striving to innovate through technology, specifically through the use of hybrid cloud and artificial intelligence. Their aim is to create a team of experts dedicated to enhancing and expanding projects for communities susceptible to ecological risks. Hybrid cloud merges in-house infrastructure with both public and private cloud services to achieve versatility and expandability. Artificial intelligence, on the other hand, mirrors human cognitive functions within machines, teaching them to learn, make rational decisions, and handle data effectively. For instance, in March 2023, International Business Machines Corporation, a technological firm based in the US, started a Request for Proposals (RFP) to expedite water management solutions globally, with an emphasis on those most in need. The primary concern is the incorporation of smart technologies like the Internet of Things (IoT) and AI to supervise and enhance water resources, which can help build resilience in vulnerable regions impacted by climate alteration and other adversities.

What Are the Key Segments in the Smart Water Management Market?
The smart water managementmarket 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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Who Are the Key Players Shaping the Smart Water Management Market's Competitive 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.

What Geographic Markets Are Powering 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.

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