Smart Water Management Market

Smart Water Management Market was valued at USD 14.5 billion in 2021 and is forecast to generate a revenue of USD 38.3 billion in 2029, exhibiting a CAGR of 12.9% over the forecast period, owing to the strategic regulatory initiatives.

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Key Drivers

The major factors which are driving the growth of the Global Smart Water Management market includes the growing demand for sustainable water solutions, rising aging infrastructure that increases the requirement to replace that aging water infrastructure, and increasing demand to get data in digital format across industries, especially utilities. The increasing population, along with the rapid shift of people from rural to urban cities, which increases the demand for freshwater. Thus, it is further fuelling the growth of the market as these systems save power consumption and analyses pressure, flow, and distribution of water.

In addition, the favourable smart city initiatives, primarily across the developing countries are projected to drive the market growth. Moreover, increasing implementation of Internet of Thing (IoT)-based technology such as smart monitoring, mobile technology coupled with rising advancement in technologies such as the incorporation of connected devices with cloud computing and the Internet of Things (IoT) solutions, to analyze water treatment systems and control water management on a real-time basis will create numerous growth opportunities in the market. These solutions help in detecting leakages, and improving network visibility and irrigation management. Various leading service vendors have introduced two-way communication systems for synchronized meter readings and remote valve shut-off facilities, which will offer enormous opportunities to the market. The increasing revenue loss due to leakage of water before reaching the customer is increasing the need for smart water management to detect leakage, monitor, and regulate the information to associate authorities. The evolution of integrated mobile technology helps to monitor pumps remotely and identify any malfunction or leakages efficiently. Other factors, such as the enforcement of favorable government policies to encourage sustainable development, and the development of existing water infrastructure, are anticipated to boost the market growth. However, the small lifespan of smart meters, and shortage of skilled workforce which may hamper the growth of the market.

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Offering Segment Analysis

Solution segment is forecast to dominate the market during the forecast period owing to the growing adoption of the various solution of smart water management such as enterprise asset management, analytics, and data management, security, smart irrigation management, among others by end-users. Enterprise asset management is widely adopted by end-user as it offers real-time monitoring data and predictive maintenance of assets, which fuels the growth of the market.

End-User Segment Analysis

Based on the End-User, the commercial and industrial segment is anticipated to grow at a higher CAGR during the forecast period owing to the increasing requirement of quality water services from commercial and industrial end-user to fight water-based expenses.

On the other hand, residential segment is predicted to lead the market over the upcoming years, owing to the growing adoption of smart water management software and hardware by consumers because of its cost-efficiency. With the growing awareness about the benefits of smart water management systems such as reduced water wastage, the demand for these solutions for home and building automation has increased. For instance, in July 2021, RealPage Inc., a leading real estate software and data analytics vendor, introduced Smart Water, the first multifamily solution that uses submeter technology, to minimize the cost of water management for both residential units and common areas. Moreover, favourable initiatives enforced by the government to encourage water conservation has augmented the demand for smart residential water management solutions. This is because residential sector accounts for almost half of water consumption globally. Thus, in order to avoid water wastage, the technology has played an important role in making people liable for the misuse of water, driving the segment’s growth.

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Regional Analysis

Asia Pacific smart water management market is estimated to hold a higher CAGR over the next few years, owing to the increasing water scarcity in the region. The rising adoption of these systems by the high-income population of key economies such as China, and India and growing penetration of advance technologies such as the Internet of Things (IoT). Moreover, increasing water scarcity in the region and increasing capital investments will have a positive impact on the growth of the market in this region. Increasing number of smart cities in the region is likely to offer enormous business opportunities for smart water management solution vendors. India has planned to develop more than 100 smart cities by 2022, totaling to half a million dollars, which is likely to influence almost 1 billion people.

North America is expected to dominate the market over the forecast period, owing to the financial incentives. The growing emphasis of regulatory authorities on taking initiatives such as setting leakage reduction targets and imposing fines during failure to fulfil these norms will help reduce waste by introducing standards and code. The advent of managerial requirements, such as California Water Conservation Act, is likely to boost the regional growth.

Top Market Players

The major key players in the market include ABB, IBM Corporation, Elster Group GmbH (Honeywell), Siemens AG, Itron, Schneider Electric SE, Suez, Oracle Corporation, Landis+Gyr, Sensus, Arad Group, among others.

Key Developments:

• • In 2021 – ABB entered into a partnership agreement with a Danish water environment specialist to produce the next generation of smart water solutions which will encourage more attentive water use. These solutions will help clients present in the market to control water availability in a better way and increase plant operating efficiency in both process and energy optimization.
  • In 2021 – Mueller Water Products Inc. announced the acquisition of i2O Water Ltd. for approximately USD 20 million in cash. The acquisition will provide i2O access to more significant financial resources and will assist in introducing its products and solutions in North America, where i20 currently has a minimal presence.
  • In Nov 2019, ABB entered into a partnership with Kemira, a Finnish chemical industry group, to modernize the water treatment process. Under this partnership, Kemira combines its water treatment expertise with ABB’s integrated automation solutions in order to allow their customer to digitalize their water treatment processes and helps to enhance their associated operations.
  • In Nov 2019, IBM launched the Maximo Asset Monitor, an AI-based monitoring solution that is designed to aid maintenance and operations to their customers and improve the performance of their high-value physical assets.

The Global Smart Water Management market has been segmented based on the Offering, End-User, and key region. Based on Offering, the market is segmented into Water Meters, Solutions, and Services. Water Meter is further segmented into AMR/AMR + Meters and AMI Meters. The solution is further segmented into Enterprise Asset Management, Analytical and Data Management, Security, Smart Irrigation Management, Advanced Pressure Management, Mobile Workforce Management, Network Management, Customer Information System and Billing, Leak Detection, and Others. Enterprise asset management is further segmented into Asset Condition Monitoring and Predictive Maintenance. Analytical and Data Management is further segmented into Meter Data Management and Supervisory Control and Data Acquisition (SCADA). Services are further segmented into Professional Service and Managed Services. Based on End-User, the market is segmented into Commercial and Industrial, and Residential.

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Key questions answered in this research report:

• • At what pace is the global Smart Water Management market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global Smart Water Management market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Smart Water Management market?
  • Which offering generated maximum revenues in 2021 and identify the most promising offering during the forecast period?
  • What are the various end-users of the global Smart Water Management market, and how are they poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2021)	USD 14.5 billion
Market Base Year	2021
Market Forecast Period	2022-2029
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Offering, By End-User, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	ABB, IBM Corporation, Elster Group GmbH (Honeywell), Siemens AG, Itron, among others, a total of 11 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Smart Water Management Market by Offering           

• • Water Meters
    • AMR/AMR + Meters
    • AMI Meters
  • Solutions
    • Enterprise Asset Management
      • Asset Condition Monitoring
      • Predictive Maintenance
    • Analytical and Data Management
      • Meter Data Management
      • Supervisory Control and Data Acquisition (SCADA)
    • Security
    • Smart Irrigation Management
    • Advanced Pressure Management
    • Mobile Workforce Management
    • Network Management
    • Customer Information System and Billing
    • Leak Detection
    • Others
  • Services
    • Professional Service
    • Managed Services

Global Smart Water Management Market by End-User          

• • Commercial and Industrial
  • Residential

Global Smart Water Management Market by Region

• • North America Smart Water Management Market (Option 1: As a part of the free 25% customization)
    • North America Smart Water Management Market by Offering
    • North America Smart Water Management Market by End-User
    • US Smart Water Management Market All-Up
    • Canada Smart Water Management Market All-Up
  • Europe Smart Water Management Market (Option 2: As a part of the free 25% customization)
    • Europe Smart Water Management Market by Offering
    • Europe Smart Water Management Market by End-User
    • UK Smart Water Management Market All-Up
    • Germany Smart Water Management Market All-Up
    • Spain Smart Water Management Market All-Up
    • France Smart Water Management Market All-Up
    • Rest of Europe Smart Water Management Market All-Up

• • Asia-Pacific Smart Water Management Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Smart Water Management by Offering
    • Asia-Pacific Smart Water Management by End-User
    • China Smart Water Management Market All-Up
    • India Smart Water Management Market All-Up
    • Japan Smart Water Management Market All-Up
    • Rest of APAC Smart Water Management Market All-Up
  • ROW Smart Water Management Market (Option 4: As a part of the free 25% customization)
    • RoW Smart Water Management by Offering
    • RoW Smart Water Management by End-User
    • Brazil Smart Water Management Market All-Up
    • South Africa Smart Water Management Market All-Up
    • Saudi Arabia Smart Water Management Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Smart Water Management Market All-Up

Leading Market Players (Option 5: As a part of the free 25% customization – Profiles of 5 Additional Companies of your Choice)

• • ABB
  • IBM Corporation
  • Elster Group GmbH (Honeywell)
  • Siemens AG
  • Itron
  • Schneider Electric SE
  • Suez
  • Oracle Corporation
  • Landis+Gyr
  • Sensus
  • Arad Group