Smart Water Management Market Trends: Forecasting Future Opportunities 2024-2028

Smart Water Management Market Trends: Forecasting Future Opportunities 2024-2028

May 02, 2024

The TechSci Research report on the Global Smart Water Management Market was valued at USD 16.49 billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 13.57% through 2028. Factors such as the growing global population, urbanization, and industrialization have led to an increased demand for water, while many regions are facing water scarcity due to climate change and other environmental factors. This has created a pressing need for efficient water management solutions to optimize water usage and minimize losses.

One significant opportunity lies in the integration of advanced analytics and artificial intelligence (AI) in smart water management solutions. AI-driven algorithms can analyze large volumes of data to predict water consumption patterns, identify anomalies, and optimize operational processes, leading to more proactive and data-driven decision-making and improved efficiency.

The Software segment is expected to dominate the market, offering solutions such as GIS software for spatial mapping and analysis of water distribution networks, water quality monitoring software for real-time monitoring and early detection of contamination events, and customer engagement and billing software to promote water conservation and accurate billing.

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In terms of end users, the Commercial segment is projected to dominate the market, driven by the need for leak detection and prevention systems to mitigate water wastage, compliance software to ensure adherence to water regulations, and integration with building automation systems to enhance operational efficiency and sustainability.

Key market players in the Global Smart Water Management Market are: -

  • Badger Meter
  • Takadu
  • Oracle Corporation
  • IBM Corporation
  • Ayyeka, Trimble Inc.
  • Neptune Technology
  • Honeywell International Inc.
  • Schneider Electric SE
  • ABB Ltd
  • Siemens AG 

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In North America, the market is expected to be the dominant force due to the region's well-developed water infrastructure, which provides a strong foundation for the adoption of smart water management technologies. Municipalities, water utilities, and industrial facilities across the region are increasingly investing in advanced technologies to modernize their water management systems.

Overall, the report aims to provide comprehensive insights into the Global Smart Water Management Market, including emerging trends, drivers, challenges, and opportunities, to assist decision-makers in making informed investment decisions.

Table of content

1.      Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1.Markets Covered

1.2.2.Years Considered for Study

1.2.3.Key Market Segmentations

2.      Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Formulation of the Scope

2.4. Assumptions and Limitations

2.5. Sources of Research

2.5.1.Secondary Research

2.5.2.Primary Research

2.6. Approach for the Market Study

2.6.1.The Bottom-Up Approach

2.6.2.The Top-Down Approach

2.7. Methodology Followed for Calculation of Market Size & Market Shares

2.8. Forecasting Methodology

2.8.1.Data Triangulation & Validation

3.      Executive Summary

4.      Impact of COVID-19 on Global Smart Water Management Market

5.      Voice of Customer

6.      Global Smart Water Management Market Overview

7.      Global Smart Water Management Market Outlook

7.1. Market Size & Forecast

7.1.1.By Value

7.2. Market Share & Forecast

7.2.1.By Solution (Hardware, Software and Service)

7.2.2.By Service (Professional Services and Managed Services)

7.2.3.By Application (Water Pipeline Monitoring & Leak Detection, Water Level Monitoring & Dam Management, Water Consumption & Distribution and Others)

7.2.4.By End User (Commercial, Public Sector and Residential)

7.2.5.By Region (North America, Europe, South America, Middle East & Africa, Asia Pacific)

7.3. By Company (2022)

7.4. Market Map

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