Smart Water Management Industry, Forecast to 2024 - Featuring Use Cases of Korea Water Resources Corp, Trimble Water, Mueller Systems, Hal24k, and AT&T
DUBLIN, Feb. 5, 2020 /PRNewswire/ -- The "Smart Water Management Market by Water Meters (AMR & AMI), Solutions (EAM, Network Management, SCADA, Advanced Pressure Management, MDM, Smart Irrigation), Services, End User (Commercial & Industrial, Residential), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The global smart water management market size is projected to grow from USD 11.7 billion in 2019 to USD 21.4 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 12.9% during the forecast period.
The market is driven by factors, such as the rising demand for quality water services, need to replace aging water infrastructure, rising digitalization of utilities sector, and government regulations favoring the development of smart water management solutions. However, factors such as reduced shelf life of smart meters and lack of digitally skilled workforce restrain the growth of the market.
By offering, services segment to grow at the highest CAGR during the forecast period
The smart water management market by offering is segmented into water meters, solutions, and services. The services segment is expected to grow at a rapid pace during the forecast period. Services are the most promising offering in the smart water management market as they create a high degree of smart characteristics and autonomy in the utilities sector. They are designed to meet interoperability challenges that occur due to varied heterogeneous devices, along with managing large volumes of data and offering end users with training, consulting, support, security, and privacy services.
By offering, solutions segment to hold the largest market size during 2019
The smart water management market by offering has been segmented into water meters, solutions, and services. The solutions segment holds the largest market size of smart water management market due to the increasing demand for technology solutions to modernize legacy infrastructure, rising technological adoption, and growing need for cost optimization.
Asia-Pacific to grow at the highest CAGR during the forecast period
Asia-Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. Factors such as flexible economic conditions, industrialization- and globalization-motivated policies of governments, and expanding digitalization are expected to contribute to the growth of the smart water management market in the region.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Smart Water Management Market
4.2 Market By Offering, 2019
4.3 Market By Solution, 2017-2024
4.4 Market By Service, 2019 vs. 2024
4.5 Market Investment Scenario
5 Market Overview and Industry Trends
5.1 Market Overview
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Need for Sustainable Water Solutions
5.2.1.2 Need for a Significant Reduction in Loss Due to Non-Revenue Water
5.2.1.3 Rising Need to Replace the Aging Water Infrastructure
5.2.2 Restraints
5.2.2.1 Lack of Digitally Skilled Workforce
5.2.2.2 Reduced Shelf Life of Smart Meters
5.2.3 Opportunities
5.2.3.1 Rising Global Smart City Initiatives
5.2.3.2 Government Initiatives and Regulatory Implementations for Promoting Smart Water Solutions
5.2.4 Challenges
5.2.4.1 Difficulty in Technology Implementation Over the Legacy Infrastructure
5.2.4.2 High Initial Investments and Lower Return on Investment
5.3 Use Cases
5.3.1 Use Case 1: Korea Water Resources Corporation
5.3.2 Use Case 2: Trimble Water
5.3.3 Use Case 3: Mueller Systems
5.3.4 Use Case 4: Hal24k
5.3.5 Use Case 5: AT&T
5.4 Value Chain Analysis
6 Smart Water Management, By Offering
6.1 Introduction
6.2 Water Meters
6.2.1 AMR/AMR+ Meters
6.2.2 AMI Meters
6.3 Solutions
6.3.1 Enterprise Asset Management
6.3.2 Analytics and Data Management
6.3.3 Security
6.3.4 Smart Irrigation Management
6.3.5 Advanced Pressure Management
6.3.6 Mobile Workforce Management
6.3.7 Network Management
6.3.8 Customer Information System and Billing
6.3.9 Leak Detection
6.3.10 Others
6.4 Services
6.4.1 Professional Services
6.4.2 Managed Services
7 Smart Water Management, By End-user
7.1 Introduction
7.2 Commercial and Industrial
7.3 Residential
8 Smart Water Management Market, By Region
8.1 Introduction
8.2 North America
8.2.1 United States
8.3 Europe
8.3.1 United Kingdom
8.4 Asia-Pacific
8.4.1 China
8.5 Middle East & Africa
8.6 Latin America
9 Competitive Landscape
9.1 Overview
9.2 Competitive Leadership Mapping
9.2.1 Visionary Leaders
9.2.2 Dynamic Differentiators
9.2.3 Innovators
9.2.4 Emerging Companies
10 Company Profiles
10.1 Introduction
10.2 ABB
10.3 IBM
10.4 Honeywell Elster
10.5 Siemens
10.6 Itron
10.7 Schneider Electric
10.8 Suez
10.9 Oracle
10.10 Landis + Gyr
10.11 Sensus
10.12 Arad Group
10.13 Huawei
10.14 Trimble Water
10.15 HydroPoint
10.16 i2O Water
10.17 XENIUS
10.18 Senziot
10.19 TaKaDu
10.20 Badger Meter
10.21 Aquamatix
10.22 Right-To-Win
For more information about this report visit https://www.researchandmarkets.com/r/tr6bek
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