Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 18.79 Billion | USD 64.93 Billion | 13.2% | 2024 |
The global smart water management system market size was worth around USD 18.79 Billion in 2024 and is predicted to grow to around USD 64.93 Billion by 2034 with a compound annual growth rate (CAGR) of roughly 13.2% between 2025 and 2034. The report analyzes the global smart water management system market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the smart water management system industry.
The report analyzes the drivers of the smart water management system market, restraints/challenges, and their effects on the demands during the projection period. In addition, the report explores emerging opportunities in the smart water management system market.
Smart water management systems enable efficient water management and minimize wastage of water which is a highly important natural resource that could lead to catastrophic effects if it's not managed effectively.
Rapid urbanization, increasing water consumption, strict mandates to regulate water usage, increasing adoption of smart technologies, and increasing focus on sustainable living, are some major factors that positively influence the Smart water management system market potential over the forecast period.
Lack of skilled workforce and high costs associated with the implementation of smart water management systems are expected to restrain Smart water management system market growth through 2028. The trend is expected to change as the focus on water management increases on a global scale
Smart Water Management (SWM) makes use of Information and Communication Technology (ICT), real-time data and response to meet the challenges of water management. SWM is becoming a topic of interest as governments from across the globe are trying to implement smart principles into urban, national and regional SMW strategies. The application of smart systems in water management includes solutions for water quality, leaks, efficient irrigation, pressure, water quantity, flow, floods, and drought, among others. Implementation of SWM infrastructure which includes GIS and satellite mapping, sensors, monitors, smart meters and other data-sharing tools for the management of water, real-time solutions may be implemented and broad networks work together in order to solve the current challenges of water management.
Increasing Population to Boost Market Potential
The surge in population, rapid economic development, and continuous urbanization of multiple economies have led to a substantial increase in demand for smart water management systems and are expected to be major drivers for market growth over the forecast period. Increasing focus on efficiently managing water resources and rising demand for potable water on a global scale under the threat of depleting resources is anticipated to propel the adoption of a Smart water management systems over the forecast period.
Shortage of Skilled Workforce
The workforce market is shrinking due to the aging population and changing lifestyle trends across the world and the lack of skilled workforces to effectively man the water utilities. The demand for water supply is more than ever and so is the demand for an increasing workforce to manage the rising workload. These factors are expected to restrain Smart water management system market growth over the forecast period.
The global smart water management system market is segmented based on Offering, Water Meters, Solution, Services, End User, and region.
Based on Offering, the global smart water management system market is divided into Water Meters, Solutions, Services.
On the basis of Water Meters, the global smart water management system market is bifurcated into AMR Meters, AMI Meters.
By Solution, the global smart water management system market is split into Enterprise Asset Management, Asset Condition Monitoring, Predictive Maintenance, Analytics And Data Management, Meter Data Management, Supervisory Control And Data Acquisition, Security, Smart Irrigation Management, Advanced Pressure Management, Mobile Wo.
In terms of Services, the global smart water management system market is categorized into Professional Services, Consulting Services, System Integration And Deployment Services, Support And Maintenance Services, Managed Services.
By End User, the global Smart Water Management System market is divided into Commercial and industrial, Residential.
Report Attributes | Report Details |
---|---|
Report Name | Smart Water Management System Market |
Market Size in 2024 | USD 18.79 Billion |
Market Forecast in 2034 | USD 64.93 Billion |
Growth Rate | CAGR of 13.2% |
Number of Pages | 187 |
Key Companies Covered | Siemens (Germany), IBM (US), ABB (Switzerland), Honeywell Elster (US), Schneider Electric (France), Itron (US), SUEZ (France), Oracle (US), Landis+Gyr (Switzerland), Trimble Water (US), HydroPoint (US), i2O Water (UK), Xenius (India), Neptune Technology (US), Takadu (Israel), Badger Meter (US), AquamatiX (UK), Fluid (US), Lishtot (Israel), Elentec (UK), Syrinix (UK), CityTaps (France), FREDsense (Canada), Fracta (US), and Xylem (US), and others. |
Segments Covered | By Offering, By Water Meters, By Solution, By Services, By End User, and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, The Middle East and Africa (MEA) |
Base Year | 2024 |
Historical Year | 2020 to 2024 |
Forecast Year | 2025 to 2034 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Recent Developments
Asia Pacific region is projected to lead the global smart water management system market and is expected to be majorly driven by the rising adoption of smart grids in this region. Rapid urbanization and industrialization in emerging economies such as India and China is also expected to majorly boost Smart water management system market growth in this region over the forecast period. The exponential rise in population, supportive government initiatives, and increasing investments are some additional factors that shape the Smart water management system market potential by the end of 2028.
Rising technological proliferation and increasing digitization are two major factors that influence Smart water management system market growth in North America. The United States is expected to be the leading market in this region and is expected to have a bright outlook owing to the rapid adoption of new technology in the nation. Other factors such as favorable government initiatives, increasing investments, and rising demand for smart systems are also expected to shape the Smart water management system market over the forecast period.
The report provides a company market share analysis to give a broader overview of the key market players. In addition, the report also covers key strategic developments of the market, including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the smart water management system market on a global and regional basis.
The global smart water management system market is dominated by players like:
The global smart water management system market is segmented as follows;
By Offering
By Water Meters
By Solution
By Services
By End User
By Region
FrequentlyAsked Questions
The global smart water management system market is expected to grow due to rising water scarcity concerns, increasing need for efficient water resource management, advancements in IoT and sensor technologies, growing urbanization, and the need for real-time monitoring and data-driven decision-making in water distribution.
According to a study, the global smart water management system market size was worth around USD 18.79 Billion in 2024 and is expected to reach USD 64.93 Billion by 2034.
The global smart water management system market is expected to grow at a CAGR of 13.2% during the forecast period.
North America is expected to dominate the smart water management system market over the forecast period.
Leading players in the global smart water management system market include Siemens (Germany), IBM (US), ABB (Switzerland), Honeywell Elster (US), Schneider Electric (France), Itron (US), SUEZ (France), Oracle (US), Landis+Gyr (Switzerland), Trimble Water (US), HydroPoint (US), i2O Water (UK), Xenius (India), Neptune Technology (US), Takadu (Israel), Badger Meter (US), AquamatiX (UK), Fluid (US), Lishtot (Israel), Elentec (UK), Syrinix (UK), CityTaps (France), FREDsense (Canada), Fracta (US), and Xylem (US), among others.
The report explores crucial aspects of the smart water management system market, including a detailed discussion of existing growth factors and restraints, while also examining future growth opportunities and challenges that impact the market.
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