Press release
Smart Water Management Market - Exhibit 17.7% CAGR from 2013 to 2019, Risk of Accidents at Aging Water Pipes Propels
The global market for smart water management (SWM) is propelled by factors such as the lack of water management in urban areas, an aging water infrastructure, and the need to lessen non-revenue water. Across the world, government programs for the deployment of smart water technologies will also drive this market. Strict environmental standards in place mandated by accredited water regulatory bodies will also propel the growth of this market in the coming years. However, factors such as the apprehension of water utilities for the adoption of cloud services and the price factor of advanced metering infrastructure (AMI) are challenging the marketโs growth.
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The component segments of the SWM market are hardware, services, and solutions. In 2012, the hardware segment dominated and contributed a revenue of 40.1% to the global market. The segment is expected to retain its position until the end of the forecast period. However, the solutions segment will display a faster growth rate owing to the increasing demand for advanced software such as ReadCenter AnalyticsPro and ReadCenter Analytics+, Hymer (Orbicon), and Intelligent Operations Center software among others.
In 2012, North America stood as the leader, contributing 47.5% revenue to the global smart water management market. Growth in this region is attributed to the aging water infrastructure, which has chances of pipe leakage and bursts resulting in increased customer complaints. The increasing investments in smart water technologies along with a focus on smart irrigation and reducing non-revenue water will also drive the North America smart water management market.
Asia Pacific will emerge as the fastest-growing market for smart water management, displaying a 23.7% CAGR between 2013 and 2019. The regional market of Asia Pacific will grow due to factors such as the variable rainfall pattern here, global warming, aging water infrastructure installed at the time of rapid economic development, and the need for safe and potable water. Natural water reservoirs rich in minerals and salts that are present across countries such as China, Japan, and India also require water solutions and services for the preservation of these resources.
The global market for SWM is highly fragmented with the presence of a large number of local players in each region. In 2012, local and regional players held a share of 67.1% in the global market for smart water management solutions and services. Itron Inc. stood as the market leader in 2012. Some other players in this market are Arad Metering Technologies, Sensus USA Inc., I20 Water Ltd., TaKaDu Ltd., ABB Ltd., Schneider Electric SA, and General Electric Company.
Global smart water management market segmentation:
Smart water management market analysis, by component
Hardware
AMR
AMI
Others
Solutions
Services
Smart water management market analysis, by meter read technology
Fixed Technology
Cellular Technology
Smart water management market, by geography
North America
Europe
Asia-Pacific
RoW (Rest of the World)
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Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMRโs global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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