The global smart water management market size is expected to grow from $10.94 billion in 2021 to $12.97 billion in 2022 at a compound annual growth rate (CAGR) of 18.5%. The global smart water management market size is then expected to grow to $22.54 billion in 2026 at a CAGR of 14.8%.
What is the Global Smart Water Management Market?
The smart water management market consists of sales of smart water management services entities (organizations, sole traders and partnerships) that are designed to collect meaningful and actionable data about a city's water flow, pressure, and distribution. Smart water management involves the integration of systems and methods for monitoring, controlling, and regulating the usage and quality of water resources, as well as the maintenance of connected equipment (pipes, pumps, etc.). Its primary purpose is to ensure that the infrastructure and energy utilized to carry water are efficiently managed. Smart water management characteristics include pressure management, better leakage techniques for water networks, smart network operations and water cycle maintenance, smart water meter technologies, and smart water quality monitoring.
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What drives the Global Smart Water Management Market?
Increasing demand for clean water due to the increasing global population is likely to drive the growth of the smart water management market. As the population grows, there will be greater demand for water for domestic, industrial, agricultural, and municipal purposes. The importance of clean water for health, food and nutrition security has been highlighted during COVID-19. Smart water management systems can help to accelerate response plans by identifying vulnerable food value chains, including market locations, and critical areas, and designing tailored and prioritized interventions to improve access to clean water in urban, peri-urban, and rural areas. For instance, according to IntechOpen, a UK-based publisher of open books and journals report, the world's population is expected to reach 8.6 billion by 2030 and 9.8 billion by 2050.
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Global Smart Water Management Market Segments
The global smart water management market is segmented:
By Offering: Water Meters, Solutions, Services
By Product Type: Advanced Water Meters, Meter Read Technology, Cellular Network
By End-User: Residential, Commercial, Industrial
By Geography: The regions covered in the smart water management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Smart Water Management Global Market Report 2022provides market size and growth forecasts for the global smart water management market, global smart water management market share, smart water management market segments and geographies, smart water management market competitive landscape including leading competitors’ revenues, profiles and market shares. The smart water management market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Smart Water Management Industry Playersinclude Honeywell International Inc., Siemens AG, ABB Ltd, IBM Corporation, Itron, Schneider Electric SE, SUEZ Group, Sensus, Trimble Water, Elentec, HydroPoint Data Systems, TaKaDu, AquamatiX, Nalco Water India Ltd, and Xenius. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
