Smart Water Management Market Worldwide

Smart Water Management Market Regional Insights

North America dominated the smart water management market growth 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 demand 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.

FAQs

Smart Water Management Market size was valued at USD 16.6 Billion in 2023 and is poised to grow from USD 18.48 Billion in 2024 to USD 43.51 Billion by 2032, growing at a CAGR of 11.3% during the forecast period (2025-2032).

The 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. 'Siemens (Germany)', 'IBM (US)', 'ABB (Switzerland)', 'Honeywell Elster (US)', 'Schneider Electric (France)', 'Itron (US)', 'SUEZ (France)', 'Oracle (US)', 'Landis+Gyr (Switzerland)', 'Trimble Water (US)', 'Xylem (US)', 'Kamstrup (Denmark)', 'HydroPoint (US)', 'i20 (UK)', 'Xenius (India)', 'Neptune Technology (US)', 'TaKaDu (Israel)', 'Badger Meter (US)', 'AquamatiX (UK)', 'Lishtot (Israel)'

The growing need to replace existing and outdated water infrastructure is driving the global smart water management market growth. 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.