Smart Water Management Market Report by Component (Devices, Software Solutions, Services), Application (Residential, Commercial and Industrial), and Region 2024-2032

Smart Water Management Market Report by Component (Devices, Software Solutions, Services), Application (Residential, Commercial and Industrial), and Region 2024-2032

The global smart water management market size reached US$ 17.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 43.5 Billion by 2032, exhibiting a growth rate (CAGR) of 10.1% during 2024-2032.

Smart water management (SWM) refers to an information and communication technology (ICT) solution that collects, shares and analyzes real-time data from water networks. It uses digital meters, sensors, supervisory control and data acquisition (SCADA) systems and geographic information system (GIS) to communicate and interact with wastewater systems. They detect leaks, minimize energy usage, conserve water, predict equipment failure and ensure regulatory compliance. SWM systems are also integrated with advanced pressure management, advanced analytics, meter data management, residential water efficiency and smart irrigation management systems for enhanced operational efficiency.

The increasing demand for efficient wastewater management solutions across the globe represents one of the key factors driving the growth of the market. With the increasing pollution, scarcity of water and climate volatility, there is a rising requirement for freshwater supplies to meet the needs of the growing population. In line with this, the increasing undertaking of smart city initiatives, especially in the developing countries, is also contributing to the market growth. Furthermore, various technological advancements, such as the integration of connected devices with cloud computing and the Internet of Things (IoT) solutions, are acting as other growth-inducing factors. These solutions offer remote monitoring, detection of leaks and improved network visibility and irrigation management. Service providers are also developing two-way communication systems for time-based synchronized meter readings and remote valve shut-off facilities. Other factors, including the implementation of favorable government policies to promote sustainable development, along with rapid upgradation of the existing water infrastructure, are anticipated to drive the market further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global smart water management market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on component and application.

Breakup by Component:

• Devices
• Advanced Water Meters
• Meter Read Technology
• Software Solutions
• Asset Management
• Distribution Network Monitoring
• Supervisory Control and Data Acquisition (SCADA)
• Meter Data Management (MDM)
• Advance Analytics
• Others
• Services
• Managed Services
• Professional Services

Breakup by Application:

• Residential
• Commercial and Industrial

Breakup by Region:

• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd., Arad Group, Badger Meter Inc., Engie SA, Honeywell International Inc, Huawei Technologies Co. Ltd., i2O Water Ltd., International Business Machines Corporation, Itron Inc., Oracle Corporation, Schneider Electric SE, TaKaDu Ltd. and Xylem Inc.

Key Questions Answered in This Report:

• How has the global smart water management market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global smart water management market?
• What are the key regional markets?
• What is the breakup of the market based on the component?
• What is the breakup of the market based on the application?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global smart water management market and who are the key players?
• What is the degree of competition in the industry?