"Rapidly Transforming Information & Communication Technology (ICT) to Stimulate the Demand for Smart Water Management Market"

Smart water management market touched a market value of US$ 17.73 Bn in 2021, with an immense CAGR of 13.15% during the forecast period from 2023 to 2030. Essentially directed by North America, smart water management market chiefly driven by the integration of Information and Communication Technology (ICT) with overall water management process. ICT recognized as strategic enabler in the process of developing innovative solutions to address problems of water scarcities. In addition, such technologies facilitate the analysis of environmental data that enables climatologists or researchers to build more precise models for weather forecasting in the looming era of climate change. Adoption of Internet of Things (IoT) technologies allows water management companies to reduce operational cost, control water quality and save water & energy. Such technologies give operators a comprehensive view of the water network performance in real time and enable them to efficiently manage their distribution network.

"Automatic Meter Reading (AMR) Water Meters to Cement its Dominance in Smart Water Management Market"

AMR water meters automatically collects consumption, diagnostic & status data and transfers that to central database for billing, troubleshooting, and analysis. Primary advantage these meters offer that billing is based on near real-time consumption of water. Real-time data coupled with analysis helps both utility providers and consumers to better control water consumption. On the other hand, Automated Metering Infrastructure (AMI) water meters segment poised to display fastest gains in the coming years. With advancements in technology, utilities expected to grow sophisticated in their operations and data analytics. The functions such as pressure testing, leak detection, and hydraulic monitoring among several others carried out more regularly, quickly and with higher quality assurance using AMI technology.

"Asia Pacific to Display Fastest Growth in Overall Smart Water Management Market"

Presently, North America is the front-runner of the overall smart water management market followed by Europe and Asia Pacific respectively. The smart city concept is rapidly gaining traction in the Asia Pacific region. Similarly, urban population of Asia Pacific region is growing faster than any other region. It is expected that the urbanization rate in region will reach 50% in 2026. The water cycle is an essential part of the urban infrastructure, swaying each pillar of urban life and its functionality. The increasing concentration of people in urban areas usually places stress on water resources, which translates into a growing demand for clean water supplies and adequate sanitation, required to ensure human dignity. With region rapidly moving towards the state of art technologies, adoption for smart water management process expected to immensely surge in following years.

Key players of global smart water management market include Honeywell International Inc., ET Water Systems LLC, Schneider Electric SA, i20 Water Ltd., TaKaDu Ltd., General Electric Co., International Business Machines Corporation, Arad Metering Technologies, Itron Inc., ABB Ltd., Emerson Electric Corporation, Sensus USA Inc., Evoqua Water Technologies, Siemens AG, Nalco Water and others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Smart Water Management market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Smart Water Management market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Smart Water Management market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Smart Water Management market?
• Which is the largest regional market for Smart Water Management market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Smart Water Management market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Smart Water Management market worldwide?