Global Smart Water Management Market Size Revenue Will Reach USD 31.73 Billion By 2030, at a CAGR of 10.3%: Polaris Market Research

NEW YORK, May 31, 2022 /PRNewswire/ -- Polaris Market Research recently published a research report on "Smart Water Management Market Share, Size, Trends, Industry Analysis Report, By Water Meter (AMR, and AMI); By Solution; By Service, By End-Use; By Region; Segment Forecast, 2022 - 2030" in its research database.

According to recent research study, the global smart water management market size & share is expected to register a CAGR of 10.3% growth and industry revenue is expected to increase from USD 13.73 Billion in 2021 to reach USD 31.73 Billion by 2030.

What is Smart Water Management Solutions? How Big is is Smart Water Management Market Share?

• Report Overview

Smart water management is a smartly designed water management system that monitors, control, and regulate the usage and quality of a city's water. Various organizations and governments across the globe are executing smart water management (SMW) to manage wastage of water and efficiently manage their energy utilization. This system incorporates various equipment and programming instruments such as sensors, water meters, and programming examination. SMW is also used in reducing energy usage in the pumping of water at water utilities and the price of detection of leaks as well as improving customer engagement in water conservation.

However, smart water management services are not experiencing adoption in various parts of the world due to poor regulatory support from the governments, and insufficient funds. The rapid urbanization and rapid adoption of advanced technologies for innovating smart solutions in water management are driving the market growth. Also, the growing government initiatives to develop smart water management and rising developments in smart city initiatives are expected to create opportunities in this market during the forecast period.

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Industry Developments

• In March 2021, SUEZ and Schneider Electric has introduced a joint venture in order to boost their leadership in building new digital water solutions.
• In October 2021, ABB, a Swedish–Swiss technology multinational, made a partnership with DHI Group, a Danish water environment specialist to offer a set of digital solutions for water and wastewater utilities. Their aim was to allow faster and more accurate decision-making.

Report Coverage:

• A summary of the overall global smart water management market study, growth rate, competitive landscape, market drivers, trends, and issues, and macroscopic indicators.
• Market profile of manufacturers-players with their SWOT, products, production, value, financials, and other vital factors.
• Global smart water management market segmentation on the basis of the type of product, application, and region.
• Market size (sales, revenue) forecast by regions and countries
• A comprehensive analysis of the market's value chain and assess the market's effect of Porter's five forces.

Top Companies Profiled Covered in this Report Are:

• ABB
• General Electric
• Itron
• Neptune Technology Group
• IBM Corporation
• SAP SE
• Schneider Electric
• Elster Group SE
• SENSUS USA INC
• Global Water Management
• Radius Synergies International Pvt Ltd
• Trimble Water
• TaKaDu
• Siemens
• Oracle Corporation
• i2O Water Ltd
• SenzIoT
• SUEZ

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Smart Water Management Market: Growth Factors

The global smart water management market is driven by aging water infrastructure, government agreements, and the introduction of strong environmental guidelines.  The increasing demand for quality water services and advancements in water-related infrastructure is also expected to fuel the market growth during the projected time period. Also, emerging government regulations are favoring the market growth. The rapid growth in urbanization and industrialization is anticipated to increase demand for smart water management. Growing initiatives to reduce water wastage and non-revenue water (NRW) is projected to positively influence the global smart water management market growth over the forecast period. Moreover, the rising technological advancements in water and waste water treatments like advanced metering technology is expected to boost the growth of the global smart water management market.

Based on the offering, the solutions segment accounted for the leading share in the market, in 2021. With the advancement of technology, water utilities are implementing smart solutions to combine diverse business operations and accelerate their market growth. With small infrastructure development, integrating various advanced technologies with existing operations enhances the overall operating capacity of the water network. In the smart water sector, these technologies and smart infrastructure are employed to provide novel solutions for clients. Because of increased awareness about water quality, limitation of natural freshwater supplies, rising consumer expectations, and technology improvements, the usage of smart solutions is likely to increase during the forecast period.

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Smart Water Management Market: Report Scope

Smart Water Management: Report Segmentation

• On the basis of the water meter, the global smart water management market is segmented into AMR and AMI
• Depending on the solution, the market is categorized into enterprise asset management, analytics and data management, security, advanced pressure management, network management, smart irrigation management, customer information system and billing, customer information system and billing, and others.
• Based on service, the market is segmented into Professional and managed. The professional segment is further sub-segmented into consulting services, system integration and deployment services, and support and maintenance services.
• Based on end-use, the market is divided into commercial & industrial, and residential. The commercial and industrial segment is anticipated to account for a significant market share and is expected to continue its dominance over the foreseen period.

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Geographic Overview: Smart Water Management Market

By geography, North America witnessed the highest share in 2021 owing to increased demand for sustainable energy solutions and strong government guidelines in various countries in the region. Moreover, Asia-Pacific smart water management market is anticipated to account for a high CAGR in the global market due to the rising use of smart grid solutions, a surge in urbanization, agricultural production, technological adoption in the utility sector, and an increasing rise in population are all supporting the expansion of the market. Also, the requirement to replace the age-old water infrastructure by deploying smart solutions for better water management is further projected to boost the market growth over the forecasted period.

Browse the Detail Report "Smart Water Management Market Share, Size, Trends, Industry Analysis Report, By Water Meter (AMR, and AMI); By Solution; By Service, By End-Use; By Region; Segment Forecast, 2022 - 2030" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/smart-water-management-market

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Polaris Market Research has segmented the smart water management market report based on water meter, solution, service, end-use, and region:

Smart Water Management Market: By Water Meter

• AMR
• AMI

Smart Water Management Market: By Solution

• Enterprise Asset Management
• Analytics and data management
• Security
• Advanced pressure management
• Network Management
• Smart Irrigation Management
• Customer information system and billing
• Customer information system and billing
• Other

Smart Water Management Market: By Service

• Professional
• Consulting services
• System integration and deployment services
• Support and maintenance services
• Managed

Smart Water Management Market: By End-Use

• Commercial & Industrial
• Residential

Important Questions Being Answered by The Market Report

• What is the global smart water management market size and growth?
• What is the CAGR of the smart water management market?
• What would be the forecast period?
• Which are the top companies operating in the global smart water management market?
• By region, which segment will dominate the smart water management market?
• What is the major product type?
• What are the major applications?
• What are the regional growth trends and the leading revenue-generating regions for the global smart water management market?

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