Smart Water Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Smart Water Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global smart water management market size reached US$ 15.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 30.8 Billion by 2028, exhibiting a growth rate (CAGR) of 11.7% during 2022-2028.

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 level from 2023-2028. 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?