The revenue generated by the Asia-Pacific smart water management market is forecasted to increase due to an anticipated CAGR growth of 18.17% over the forecast period of 2019-2027. Significant investments made by the various Asian governments towards urbanization of the region is significantly driving this market’s growth.
China and India are the predominant markets for smart water meters in the Asia-Pacific region. A smart city investment hub was launched in China in the year 2016 according to China’s 12th and 13th five-year plan. This, indirectly augmented the demand for smart water monitoring, as smart city projects require enhanced and efficient water infrastructure. Similarly, for a country like India where agriculture forms the backbone of its economy, an increasing need for smart water managing is required for irrigation. The Indian market is projected to experience the highest CAGR growth for the Asia-Pacific region over the forecast period of 2019-2027.
Takadu Ltd., Suez Water Technologies & Solutions (Formerly GE Water), Arad Technologies Ltd., Schneider Electric SE, Landis+Gyr, Siemens AG, American Water Company, ABB Ltd., Huawei Technologies, Honeywell International, Inc. (Holding Company of Elster Group SE), Belkin Corporation (PYHN), IBM, Xylem Inc., Utility Systems, and Itron, Inc. are presently the market leaders for smart water management.