Global Smart Water Management Market

Global Smart Water Management Market Size, Share, Growth Analysis, By Offering(Hardware, Solution), By Solution(Enterprise Asset Management, Network Management), By Services(Professional, Managed), By End Use(Commercial & Industrial, Residential) - Industry Forecast 2023-2030


Report ID: SQSG55D2001 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 116 | Figures: 77

Global Smart Water Management Market Insights

Smart Water Management Market size was valued at USD 13.73 billion in 2021 and is poised to grow from USD 15.15 billion in 2022 to USD 31.73 billion by 2030, growing at a CAGR of 10.3% in the forecast period (2023-2030).

Smart water management is a water management system with a smart design used for monitoring, controlling, and regulating the use and quality of a city's water Smart water management (SWM) is being used by several governments and companies all over the world to reduce water waste and effectively control energy use. Sensors, water metres, and programming examination tools are some of the programming tools and equipment that this system contains. SWM is utilised to improve consumer participation in water conservation, lower costs associated with leak detection and the energy needed to pump water at water utilities. Smart water management technology helps many organisations diagnose network issues, boost water conservation among consumers, and—most importantly—reduce non-revenue water losses brought on by deteriorating infrastructure. Smart water management has been designed to gather data on the pressure, flow, and distribution of a city's water supply that is both relevant and helpful. SWM's primary objective is to ensure the efficient management of the infrastructure and energy needed for the transportation of water. Information and communication technology (ICT) and real-time data and answers are key components of smart water management (SWM), which is used as a solution to water management issues. Smart systems have a wide range of possible applications in water management, including solutions for floods, droughts, leaks, pressure and flow issues, effective irrigation, water quality, quantity, and many other issues.

US Smart Water Management Market is poised to grow at a sustainable CAGR for the next forecast year.

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Global Smart Water Management Market Segmental Analysis

Global Smart Water Management Market is segmented based on the offering, solution, services, end-use, and region. According to offering, the smart water management market is segmented into hardware, solution, and services. Based on solution, the market is segmented into enterprise asset management, network management, smart irrigation, and others. According to service, it is bifurcated into professional and managed. On the basis of end-use, the market is segmented into commercial & industrial and residential. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Smart Water Management Market Analysis by Offering

The hardware offering segment held largest market share in global smart water management market in 2021. The hardware segment is further divided into AMI meters, AMR Meters, Water sensors, Water flowmeters, Water controllers, Motors, and others. Rising use of IoT-based devices for water management and growing need to replace ageing infrastructure with updated equipment are the key drivers boosting the segment growth.

The solution segment is expected to grow at a high CAGR during the forecast period. Water utilities are using smart solutions to combine multiple business operations as technology advances, increasing their growth. Even with minimal physical investment, they are able to boost the operating efficiency of the whole water network by integrating a variety of cutting-edge technology with the current processes. The smart water sector uses these technologies and smart infrastructure to create cutting-edge solutions for clients. Due to increased consumer demands, a shortage of natural freshwater supplies, growing awareness of water quality, and technical improvements, the use of smart solutions is anticipated to soar throughout the projected period.

Smart Water Management Market Analysis by End Use

Commercial & Industrial segment dominated the market share in 2021. This can be caused due to significant expenditures made by private enterprises to enhance their water supply resources by using cutting-edge water management infrastructure. Industries must address a variety of water-related issues, such as maintaining suitable water pressure and quality, disposing of industrial wastewater safely and in accordance with regulations, and preventing process downtime and production interruptions caused by faulty equipment. Commercial and industrial end users are anticipated to increasingly use smart water solutions in order to address issues including optimising water consumption, reducing billing errors, putting in place cost-effective fixes, and lowering water costs.

As governments throughout the globe work diligently to improve water management for the general population, the non-commercial sector is anticipated to see increasing prospects in the anticipated period. Over the projected period, demand for smart water management systems for home and building automation is anticipated to rise as consumers in residential applications become more aware of the advantages of such solutions in terms of decreased water waste.

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Global Smart Water Management Market Regional Insights

North America dominated the Global Smart Water Management Market in 2021. This can be attributed to stronger government regulations and rising demand for clean energy options across the region. People in North American residential regions are starting to understand the advantages of all smart water management technologies, such as how they help to decrease water waste, enhance water quality, prevent leaks, and help control water use. Because of this, the market for smart water management is likely to develop as demand for these solutions rises in the North American region.

Asia Pacific smart water management market is expected to grow the fastest during the forecast period. The rapid growth can be largely attributed to a number of factors, including an increase in the adoption of smart grid solutions, an increase in urbanisation levels leading to an increase in water demands, agricultural production, technological integration in the utility sector, and an exponential increase in population. Due to these elements, the region's industrial activities are expanding and government laws are favourable, leading to the large-scale deployment of technology compared to the western areas. The rising need for water efficiency and reusable water resources in APAC is anticipated to fuel the region's Smart Water management market expansion. Growing smart cities in the region are also anticipated to generate considerable economic prospects for providers of smart water management technologies. By 2022, India intends to invest around $500,000 in the construction of over 100 smart cities, which are estimated to benefit close to 1 billion people. Additionally, Singapore invested more than USD 1 billion in smart city projects in 2019. These regional smart city projects should open up a lot of opportunities for the adoption of improved metering infrastructure.

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Global Smart Water Management Market Dynamics

Smart Water Management Market Driver

  • The growing need to replace existing and outdated water infrastructure is driving the global smart water management market. Water management encompasses flood control, automated water treatment, delivery, storage, and resource management. Due to an increase in the demand for clean water, these long-standing water systems are now being decommissioned. As a result, continuous care, repair, and upkeep are required to streamline the water supply process. Water utilities have begun to implement smart technologies to address these issues, which will reduce maintenance costs while providing customers with high-quality water management services.
  • Population increase, economic expansion, increasing urbanisation, and rising per-capita food consumption are all contributing factors to the worldwide issue of meeting the growing demand for (renewable) water resources. Over 2 billion people live in water-stressed regions, and nearly 45 percent of the world's population lacks access to safe sanitation facilities, according to the UN World Water Development Report 2021. Countries are unable to deliver water in adequate amounts and of acceptable quality by employing conventional water management techniques because of the limited water resources and the growing demand. This situation prompts water companies to look into creative ways to use the available water supplies effectively and sustainably.

Smart Water Management Market Restraint

  • The lack of digitally trained workers in the water utilities industry is one of the main constraints in this technological age. The lack of knowledge among millennials about the expansion of the water utilities sector for pursuing a profession is another problem. These constraints also limit market expansion.
  • During the projected period, high installation costs for advanced metering infrastructure (AMI) are anticipated to limit market growth for smart water management globally. Advanced metering infrastructure (AMI) installation demands a sizable upfront cost. The implementation of smart water technology is further hampered by its lengthy payback period.

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Global Smart Water Management Market Competitive Landscape

Global Smart Water Management Market is fragmented and highly competitive as a lot of regional, national, and international businesses are competing for customers' attention in a highly competitive market. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations, and partnerships are adopted by these players to thrive in the competitive market. Major players include IBM Corporation, Honeywell International Inc., ABB Limited, Schneider Electric SE and Siemens AG. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.

Smart Water Management Market Top Player's Company Profiles

  • TaKaDu Ltd.
  • ABB Ltd
  • IBM Corporation
  • Honeywell International Inc.
  • General Electric
  • Schneider Electric
  • Siemens AG
  • Cisco Systems Inc.
  • Oracle Corporation
  • Sensus
  • Itron
  • Aquamatix Ltd
  • Arad Group
  • Badger Meter Inc.
  • Elster Group GmbH
  • Landis+Gyr
  • Mueller Water Products
  • Neptune Technology Group Inc.
  • Trimble Inc.
  • Xylem Inc.

Smart Water Management Market Recent Developments

  • In September 2022, Veolia Water Technologies and Orange Business Services agreed to work together to promote the expansion of Hubgrade, the company's smart digital platform, and provide cutting-edge digital services for its clients throughout the world. Customers of Veolia Water Technologies may remotely watch, predict, and improve water treatment facilities and equipment thanks to the Hubgrade digital platform. Municipalities and businesses may enhance the functionality of their websites using this platform while sustainably protecting water resources.
  • In February 2022, Takadu collaborated with Asystom, a specialist in universal smart monitoring for predictive maintenance to provide water utility customers with an integrated and improved central event/asset management system.

Global Smart Water Management Key Market Trends

  • Given that there is a severe water shortage in many areas of the world, it is imperative to find effective ways to distribute water. An successful multi-partner system to monitor, control, and monetize water distribution may be set up by a water utility using 5G and internet of things (IoT)-based technologies in conjunction with specialist BSS capabilities. Water utilities may use a number of smart water solutions that 5G, together with IoT and BSS platforms, can enable to proactively manage water, monitor the distribution network, and monetize the value across the service chain. A high-efficiency two-way monitoring and management system that may be installed on a water distribution network is made possible by 5G and IoT. If done correctly, this prevents water loss, enhances portable water supply, promotes transparency in distribution and charging, and boosts overall effectiveness.
  • The everyday operation and administration of the water grid may benefit greatly from technology, which can also be used to digitise water infrastructure. Supporting technicians working in far-flung locations is one of them.

Global Smart Water Management Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our Global Smart Water Management Market analysis, due to inadequate funding and inadequate regulatory backing from the governments, smart water management services are not being adopted in many regions of the world. The market is expanding as a result of rising urbanisation and the quick use of cutting-edge technology for creatively smart water management solutions. Growing government initiatives to establish smart water management and rising advancements in smart city projects are also anticipated to open up opportunities for market growth during the projected period.

Report Metric Details
Market size value in 2021 USD 13.73 billion
Market size value in 2030 USD 31.73 billion
Growth Rate 10.3%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Offering
    • Hardware, Solution, services
  • Solution
    • Enterprise Asset Management, Network Management, Smart Irrigation, others
  • Services
    • Professional, Managed
  • End Use
    • Commercial & Industrial, Residential
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • TaKaDu Ltd.
  • ABB Ltd
  • IBM Corporation
  • Honeywell International Inc.
  • General Electric
  • Schneider Electric
  • Siemens AG
  • Cisco Systems Inc.
  • Oracle Corporation
  • Sensus
  • Itron
  • Aquamatix Ltd
  • Arad Group
  • Badger Meter Inc.
  • Elster Group GmbH
  • Landis+Gyr
  • Mueller Water Products
  • Neptune Technology Group Inc.
  • Trimble Inc.
  • Xylem Inc.
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Smart Water Management Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Smart Water Management Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Smart Water Management Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Smart Water Management Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Smart Water Management Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Smart Water Management Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Smart Water Management Market size was valued at USD 13.73 billion in 2021 and is poised to grow from USD 15.15 billion in 2022 to USD 31.73 billion by 2030, growing at a CAGR of 10.3% in the forecast period (2023-2030).

Global Smart Water Management Market is fragmented and highly competitive as a lot of regional, national, and international businesses are competing for customers' attention in a highly competitive market. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations, and partnerships are adopted by these players to thrive in the competitive market. Major players include IBM Corporation, Honeywell International Inc., ABB Limited, Schneider Electric SE and Siemens AG. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'TaKaDu Ltd.', 'ABB Ltd', 'IBM Corporation', 'Honeywell International Inc.', 'General Electric', 'Schneider Electric', 'Siemens AG', 'Cisco Systems Inc.', 'Oracle Corporation', 'Sensus', 'Itron', 'Aquamatix Ltd', 'Arad Group', 'Badger Meter Inc.', 'Elster Group GmbH', 'Landis+Gyr', 'Mueller Water Products', 'Neptune Technology Group Inc.', 'Trimble Inc.', 'Xylem Inc.'

The growing need to replace existing and outdated water infrastructure is driving the global smart water management market. Water management encompasses flood control, automated water treatment, delivery, storage, and resource management. Due to an increase in the demand for clean water, these long-standing water systems are now being decommissioned. As a result, continuous care, repair, and upkeep are required to streamline the water supply process. Water utilities have begun to implement smart technologies to address these issues, which will reduce maintenance costs while providing customers with high-quality water management services.

Given that there is a severe water shortage in many areas of the world, it is imperative to find effective ways to distribute water. An successful multi-partner system to monitor, control, and monetize water distribution may be set up by a water utility using 5G and internet of things (IoT)-based technologies in conjunction with specialist BSS capabilities. Water utilities may use a number of smart water solutions that 5G, together with IoT and BSS platforms, can enable to proactively manage water, monitor the distribution network, and monetize the value across the service chain. A high-efficiency two-way monitoring and management system that may be installed on a water distribution network is made possible by 5G and IoT. If done correctly, this prevents water loss, enhances portable water supply, promotes transparency in distribution and charging, and boosts overall effectiveness.

North America dominated the Global Smart Water Management Market in 2021. This can be attributed to stronger government regulations and rising demand for clean energy options across the region. People in North American residential regions are starting to understand the advantages of all smart water management technologies, such as how they help to decrease water waste, enhance water quality, prevent leaks, and help control water use. Because of this, the market for smart water management is likely to develop as demand for these solutions rises in the North American region.

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