Global Smart Water Management Market was valued at US$ 9.2Bn in 2019 and is expected to reach US$ 33.1Bn by 2027, at a CAGR of 17.36% during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region
The major factors driving global smart water management market are technological advancement, change in regulatory compliances and raising awareness of sustainable use of energy resources. Implementation of these modern technologies such as smart monitoring which is the internet of things (IoT) based technology is used to analyze water treatment system and control water management on a real-time basis.
The increasing usage of supervisory control and data acquisition solution is another important factor that is driving the smart water management market globally. It allows quality decision making and reduces energy cost in pumping water through a distribution network. The major restraints of the smart water management market are costly initial investment requirement and a low rate of return. Furthermore, due to the lack of expertise and talent availability the market for smart water management is growing slowly. However, Smart water management is enabled to a tremendous opportunity related to water utilities to realize significant financial savings.
SCADA systems for water and wastewater utility segment expected to account for the highest revenue share in smart water management in 2017. Supervisory Control and Data Acquisition (SCADA) program are particularly designed to provide remote alert function, real-time historical database, alarm management, optimization and notification with open integration platform and powerful Human Machine Interface (HMI). Such characteristics of SCADA systems are expected to drive segment growth in the upcoming future.
North America is holding the largest market share of smart water management followed by Europe due to the adoption of advanced meter infrastructure technology by various organizations. Out of the many advanced technologies, AMI technology has a wide impact on service restoration and verifying power outage. The adoption of a SCADA solution is also impacting the smart water management market in a positive manner. North America includes industrialized countries like the United States and has a significant concentration of urban population.
Recent Development: In June 2018, Itron Inc. an innovator in energy metering technologies, launched Itron Intelis water meter, designed for utilities and cities to manage energy and water. Itron Intelis water meter is an ultrasonic solid-state solution that allows users to track flow usage patterns at the meter level, and also proposals advanced metering infrastructure (AMI).
In May 2016, IBM sets up the Intelligent Operations Center (IOC) to improve the efficiency of critical infrastructure and utilities. In this project smart water management heavily trusted on manual intelligence.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Smart Water Management Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the Global Smart Water Management Market.
Scope of Global Smart Water Management Market
Global Smart Water Management Market, By Advanced Water Meters
• By Meter Type
o AMR Meters
o AMI Meters
• By Meter Read Technology
o Fixed Network
o Cellular Network
Global Smart Water Management Market, By Solution
• Enterprise asset management for water and wastewater utilities
• Network monitoring
• Advanced pressure management
• SCADA systems for water and wastewater utilities
• Advanced analytics
• Meter data management (MDM) for water
• Residential water efficiency
• Smart irrigation management systems
Global Smart Water Management Market, By Service
• Professional services
o Maintenance and support
o Deployment and integration
o Consulting services
• Managed services
Global Smart Water Management Market, By Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Key Players operating in Global Smart Water Management Market
• ABB Group
• General Electric Company
• International Business Machines (IBM) Corporation
• Itron, Inc.
• Schneider Electric SE
• Arad Group
• Elster Group SE
• Siemens AG
• TaKaDu Ltd.
• Aclara Technologies LLC.
• Neptune Technology Group
• Global Water Resources
• Cambrian Innovation Inc.
• A.U.G. Signals Ltd.