Smart Water Management Market

Global smart water management market is expected togrow at a CAGR of 18.5% during forecast period (2022-2030).  Growing requirement for water conservation and water scarcity across the globe is the key factor driving the smart water management market. For instance, as per the water project organization there is around 783 million people didn’t have access to clean and safe water globally. There are around 319 million people in Sub-Saharan Africa does not have access to reliable drinking water sources. Moreover, according to United Nations, about 700 million individuals in 43 different countries are affected by scarcity of water and by 2025, two-thirds of the global population could be living in water-stressed conditions.

SCADA Systems to Contribute Largest to The Market Revenues

Global smart water management has been segmented on the basis of advance meter type, services and solutions. The solution segment is further segmented into Enterprise asset management for water and wastewater utilities, Network monitoring, Residential water efficiency, Advanced pressure management, SCADA systems for water and wastewater utilities, Smart irrigation management systems, Advanced analytics and Meter data management (MDM) for water. The SCADA systems for water and wastewater utilities segment is the dominating segment with a revenue share of 17.62% in 2021. The primary driver for the wide adoption of SCADA solutions is their ability to streamline water utility operations through the use of data driven control methods coupled with the capability to provide enhanced asset management for water and wastewater utility infrastructure. According to the International Water Association, around 32 billion cubic meters water is wasted per year globally, a part of which is lost due to aging pipes leak. Water loss in huge amount, has led to rise in demand for infrastructure upgrade, in turns drive the market for SCADA system for water and waste water. Moreover, smart irrigation management system is anticipated to grow with a fastest CAGR of 19.3% during the forecast period. The major factor behind the fastest growth rate of smart irrigation management segment is that it helps in making real-time decisions regarding the right irrigation time, prediction and plan for the irrigation in the future, as well as modeling of the irrigation scheduling and design of the irrigation systems based on offline data. Moreover, there are significant investments in the smart irrigation management throughout.

Profession Services Contribute More than Half to Service Market Revenues

Professional services in the services segment leads the global smart water management market by capturing largest market share of over 52% in 2021 in the services. Professional services market is anticipated to grow at a highest CAGR of 19.5% during the forecast period. Professional services in global smart water management market include maintenance & support services, consulting services and deployment & integration services. These services provide the users with necessary floor plan to implement a smart water management solution, reduce the expenditure and implementation complexity, providing proposals for targeted measures. Increasing construction of smart water management projects with advanced technologies such as intelligent sensing, etc. have raised the demand for professional services for its easy integration and deployment. Further, companies providing professional services in smart water management market have received high investment that act as a key driving factor for the growth of professional services market.

North America Takes the Lion’s Share

Geographically, the global Smart water management market has been segmented into North America, Asia Pacific, Europe and Rest of the World (ROW). North America is dominating region in the global smart water management market with a revenue share of 37.75 % in 2021. The North American smart water management market is primarily driven by high number of people residing in urban areas, increasing investment in water management projects coupled with high investment in smart city infrastructure that have aided the growth of smart water management market. U.S. and Canada have a high percentage of population residing in urban areas; and around 80% of the population reside in urban areas in US and Canada respectively. High investment to deploy new efficient water management solutions have also positively aided the growth of smart water management market in North America. For instance, according to Organization for Economic Co-operation and Development (OECD) the Government of U.S. needs to invest $ 6.7 trillion till 2050 in order to fix the old and inefficient water infrastructures.

Competitive Rivalry to Intensify During the Forecast Period.

Product launch is the key strategy adopted by companies in global smart water management market. Product launch allows companies to introduce innovative products which differentiate them from other competitive product. The differentiation in company product allows company to capture large market share in global smart water management market. Collaboration & partnership is adopted as the secondary strategy in global smart water management market. The intensity of competitive rivalry in smart water management system market is expected to move from moderate to high over the forecast period 2022-2030. Growing opportunities and Government interest in this industry is boosting the global demand of smart water management system market.

Historical & Forecast Period

This research report presents the analysis of each segment from 2020 to 2030 considering 2021 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment are calculated for the forecast period from 2022 to 2030.

Report Methodology

Market revenues and CAGR were derived from primary and secondary research. Both quantitative and qualitative trends were considered for extrapolation of market revenues. The derived market estimates were further validated from top down, bottom strategies and primary research. The scope of the market is limited to the following segments of product categories and region.

By Solution (2020-2030; US$ Mn)

• Enterprise asset management for water and wastewater utilities
• Network monitoring
• Advanced pressure management
• SCADA systems for water and wastewater utilities
• Residential water efficiency
• Smart irrigation management systems
• Advanced analytics
• Meter data management (MDM) for water

By Service(2020-2030; US$ Mn)

• Professional services
• Managed services

By Advanced Water Meter(2020-2030; US$ Mn)

• Meter Type
• Meter Read Technology

By Region (2020-2030; US$ Mn)

• North America
• Europe
• Asia Pacific
• Latin America
• Africa

Global Impact of Covid-19 Segment (2020-2021; US$ Mn)

• Pre Covid-19 situation
• Post Covid-19 situation

Key questions answered in this report

• What are the key market segments in current scenario and in the future by product categories?
• What are the key market segments in current scenario and in the future by regions?
• What is the key impact of Covid-19 over market revenues and market determinants in the global smart water managementmarket?
• What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
• What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
• How to overcome the current market challenges and leverage the opportunities in each of the market segment?
• Who are the key players in the operational predictive maintenance market and what are their key product categories and strategies?
• What are the key strategies – mergers/acquisitions/R&D/strategic partnerships etc. that companies are deploying to enhance market revenues and growth?