The Smart water management market size is expected to grow from USD 16.6 billion in 2023 to USD 28.2 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 11.3% during the forecast period. Consumers increasingly demand high-quality water services, including safe drinking water, reliable wastewater treatment, and efficient stormwater management. Smart water management solutions can help utilities meet these demands by providing real-time data and insights that can be used to improve water quality, reduce water loss, and optimize operations.
Among water meters, AMI Meters to hold the highest market share during the forecast period
AMI water meters are a component of this infrastructure used to measure and monitor water consumption in a more advanced and intelligent manner compared to traditional water meters. hese meters are equipped with technology that allows them to collect and transmit data about water usage remotely and in real-time The growing concern over water scarcity and the need for sustainable water practices is driving the market . Additionally, regulatory mandates, environmental consciousness, and the quest for cost savings have all contributed to the increasing adoption of AMI water meters.
Among solutions, Enterprise Asset Management to hold the highest market share during the forecast period
Enterprise asset management (EAM) solutions are increasingly important in the smart water management market. EAM solutions help utilities to track, manage, and maintain their physical assets throughout their entire lifecycle, from procurement to disposal. Water infrastructure is becoming increasingly complex, integrating new technologies such as IoT sensors and artificial intelligence (AI). EAM solutions can help utilities manage this complexity by providing a unified view of their assets and operations.
Among regions, Asia Pacific is to hold a higher CAGR during the forecast period.
Asia Pacific is the most urbanized region in the world, with over half of the population living in cities. Rapid urbanization and population growth are increasing pressure on water resources and infrastructure. Smart water management solutions can help to conserve water resources, improve water efficiency, and reduce water loss.
Breakdown of primaries
In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the smart water management market.
- By Company: Tier I: 35%, Tier II: 39%, and Tier III: 26%
- By Designation: C-Level Executives: 55%, Directors: 40%, and others: 5%
- By Region: North America: 30%, Europe: 35%, Asia Pacific: 25%, RoW-10%
The report includes studying key players offering Smart water management solutions and services. It profiles major vendors in the global Smart water management market. The major vendors in the global Smart water management market include 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), i2O (UK), Xenius (India), Neptune Technology (US), TaKaDu (Israel), Badger Meter (US), AquamatiX (UK), Lishtot (Israel), CityTaps ( France), FREDsense (Canada), Fracta (US), Smart Energy Water (US), Ayyeka ((US), Ketos (US).
The market study covers the Smart water management market across segments. It aims at estimating the market size and the growth potential of this market across different segments, such as offering, end-users, technology, and region. It includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Reasons To Buy the Report
The report would help the market leaders and new entrants in the following ways:
- It comprehensively segments the smart water management market and provides the closest approximations of the revenue numbers for the overall market and its subsegments across different regions.
- It would help stakeholders understand the market’s pulse and provide information on the key market drivers, restraints, challenges, and opportunities.
- It would help stakeholders understand their competitors better and gain more insights to enhance their positions in the market. The competitive landscape includes a competitor ecosystem, new service developments, partnerships, and mergers and acquisitions.
The report provides insights on the following pointers:
Analysis of key drivers (growing rapid urbanization, rising complexities of managing water usage, need for regulatory and sustainability mandates concerning environment, rising need to replace aging water infrastructure) restraints (integration of water systems with modern smart solutions, reduced shelf-life of smart meters) opportunities (increasing role of smart water management in smart city revolution, Strong government initiatives and regulatory implementations to promote SWM solutions) challenges (difficulty in technology implementation over legacy infrastructure, high initial investments and lower return) influencing the growth of the smart water management market. Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in smart water management market. Market Development: Comprehensive information about lucrative markets – the report analyses the Smart water management market across varied regions.
Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the smart water management market. Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players 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), i2O (UK), Xenius (India), Neptune Technology (US), TaKaDu (Israel), Badger Meter (US), AquamatiX (UK), Lishtot (Israel), CityTaps ( France), FREDsense (Canada), Fracta (US), Smart Energy Water (US), Ayyeka ((US), Ketos (US).