Global Smart Water Management Market To Accrue Huge Revenues of $30.01 Billion by 2030

The global smart water management market size was nearly $14.01 billion in 2022 and is set to increase to about $30.01 billion by 2030 along with securing the highest CAGR of 10.3% from 2023 to 2030.  

Smart water management is the activity of planning, managing, developing, and distributing water resources through the use of a slew of IoT systems designed for increasing transparency. Furthermore, it also helps in improving transparency and making reasonable as well as sustainable use of water resources.

In addition to this, smart water management systems help in delivering resilient and proficient water supply at reduced costs. Reportedly, the use of smart technology in water management has brought a paradigm shift in wastewater systems, thereby enabling effective detection, sensing, measuring, and recording of data. Moreover, the massive utilization of SCADA and GIS systems in smart water management will embellish the demand for smart water management activities across the globe.

This review is based on a report by Zion Market Research, titled "Smart Water Management Market By Offering (Water Meters, Services, And Solutions), By Water Meters (AMR Meters And AMI Meters), By End-User (Commercial & Industrial And Residential), And By Region - Global, And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030"- Report at https://www.zionmarketresearch.com/report/smart-water-management-market

The growing need for replacing aging infrastructure will steer the expansion of the global smart water management market. Favorable government initiatives and laws are predicted to increase investments in upgrading water infrastructure, thereby driving global market trends. An increase in the population base and economic growth along with constant urbanization will steer the global market demand. Apart from this, a surge in the number of smart cities and digital technology across the globe will prompt market expansion across the globe.

Nevertheless, less capital investment for improving the smart water management infrastructure will put brakes on the global smart water management industry. Less availability of digitally skilled manpower will further impede global industry expansion. However, favorable government policies related to the implementation of smart water management will open new growth avenues for the industry across the globe.  

The global smart water management market is segregated into offering, water meters, end-user, and region.   

The offering segment of the smart water management market is subdivided into water meters, services, and solutions segments. Furthermore, the solutions segment, which contributed more than two-thirds of the global market share in 2022, is slated to dominate the segmental growth in the assessment years. The segmental growth in the upcoming years can be credited to the large-scale use of smart services in water utilities.  

On the basis of water meters, the smart water management industry across the globe is divided into AMR meters and AMI meters segments. The AMI meters segment, which held more than half of the global industry share in 2022, is set to register the highest CAGR in the next few years. The expansion of the segment in the analysis period can be due to offering of real-time data by AMI meters related to water usage. Apart from this, AMI meters utilize two-way communication for automated billing, thereby further embellishing the segmental expansion.  

In terms of end-user, the smart water management market across the globe is segmented into commercial & industrial and residential segments. Moreover, the commercial & industrial segment, which dominated the segmental expansion in 2022, is projected to register the highest gains in the ensuing years. The segmental expansion over the estimated timeline can be subject to a rise in the application of smart water solutions by commercial & industrial segments in the years ahead.  

 Furthermore, the North American region, which accounted majorly towards the global share of the smart water management market in 2022, is anticipated to continue its domination in the ensuing years. The regional market surge in the next few years can be subject to escalating awareness about the benefits provided by smart water management solutions to the end-users.

In addition to this, the humungous demand for minimizing the wastage of water, the need for improving water quality, and the need for halting water leakage will expand the scope of the regional market growth. The presence of key players in countries such as the U.S. will make notable contributions to the size of the market in North America.          

Key players in the global smart water management market include

• ABB Limited
• Honeywell International Inc
• Arad Group
• IBM Corporation
• Evoqua Water Technologies LLC
• GE Digital
• Schneider Electric SE
• Siemens AG
• Itron Inc.
• and Sensus.   

 Recent Developments:

• In the second half of 2021, Xylem Inc., a major U.S.-based water technology provider, acquired Anadolu Egypt, a key Turkish player providing pump & water treatment system supply, deployment, and after-sales solutions. The move will proliferate the growth of the former in the Middle East region as well as in Europe.
• In the first half of 2021, Itron, a U.S.-based technology firm, signed a strategic partnership deal with United Utilities, a water supply firm based in the UK. Furthermore, the two firms joined hands for executing Temetra, Itron’s new cloud-driven meter management service, aimed at enhancing water delivery & water management solutions. 
• In the first quarter of 2021, Schneider Electric SE, a French multinational firm, along with Suez SA, a key industrial water & process treatment tech firm, helped water operators in accelerating digital transformation by offering various software solutions for operation, optimization, and maintenance.

The global smart water management market is segmented as follows:

By Offering

• Water Meters
• Services
• Solutions

By Water Meters

• AMR Meters
• AMI Meters

By End-User

• Commercial & Industrial
• Residential

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of The Middle East & Africa

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