Trending News: Smart Water Management Market Size, Share, Trends, Growth, Analysis, Research
Global Smart Water Management Market: Key Highlights
- According to the new market research report “Smart Water Management Market by Solution (Analytics and Data Management, Security, Smart Irrigation Management, Mobile Workforce Management, Network Management, and Others), by Services (Professional Services and Managed Services), by End-User (Commercial and Industrial, Residential and Utility), by Devices (Advanced Water Meters, Mater Read Technology, and Cellular Network), by Technology (Advanced Metering Infrastructure (AMI) and Automated Metering Reading (AMR)) by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) — Global Forecast (2019 to 2027)”, the global smart water management market is estimated to reach USD 33.8 Billion by 2027 at a CAGR of around 15.4% during the review period.
- The technological advancements enable water operators to proactively control and manage distribution systems and enhance efficiency, which is expected to favorably impact the market.
- However, lack of awareness for smart equipment remains a major challenging factor for the growth of the smart water management market in the forecast period.
Global Smart Water Management Market: Key Market Dynamics
- The increasing cloud-based solution helps to monitor the distribution network which may lead to enhance the demand of the market in the projected period.
- The IoT sensor is projected to determine the weather condition as well as the soil moisture which will benefit the operation efficiency and help to reduce cost which will lead to boost the market growth.
- low rate of adoption in developing countries which is excepted to restraint the growth of the market in the forecast period.
- Increasing adoption for automation technique will lead to enhance the automatic meter reading effectively and help to improve the service quality. Hence, it anticipated creating a positive impact on the market’s growth.
Global Smart Water Management Market: Regional Overview
According to the International Water Resources Association (IWRA), China is projected to functions to investigate the implementation of smart water systems that includes groundwater for irrigation purpose. Moreover, China is facing water problems and despite the difference in climatic and economic conditions. In 2012 China State Council introduces a guideline to implement water resources management in China, which is known as Strictest Water Resources Management System (SWRM). This system is based on guidelines such as three red lines which will approve the National Integrated Water Resources Plan for water efficiency and quality of water. The objective of these is to improve and integrate real-time monitoring, controlling and modeling in China to enhance the groundwater management system. According to the National Institution for Transforming India, the Government of India is being proactive for water management as well as created a Ministry of Jal Shakti to consolidate interrelated functions about water management. However, the National Institution for Transforming India (NITI) Aayog has improved the composite water management index (CWMI) to build effective water management in India.
Hence, government support for the adoption of technological advancement will lead to growing the market demand of the Asia-Pacific region.
According to International Water Resources Association (IWRA), the smart water for Europe (SW4EU) project had developed to the European Innovation Platform (EIP) water by enhancing and deploying the innovation smart water network technology solution for boosting the reliability, efficiency, quality control, and sustainability of metropolitan drinking water supply services. Moreover, it is projected to advance the utility capacity as well as rise the public concern by boosting the growth in Small and medium-sized enterprises (SMEs). Furthermore, the European Union (EU) has been sponsored by Smart Water for Europe (SW4EU) Project to grow European Innovation Partnership (EIP) concern and to enhance the aims for clean water.
Hence, these will boost smart water management growth in the region in the forecast period.
Global Smart Water Management Market: Key Players Overview
- Itron Inc.:
Itron Inc. is a technology company that offers products and services on energy and water resource management. The company operates by the segment that is based on electricity, gas, and water. The company is the supplier of electricity metering solutions and gas metering solution, that includes standard meters and smart metering systems. Moreover, it also supplies the smart water meters and communication modules. It enables utilities and cities to improve the management of energy and water. Whereas, it also helped to decrease non-revenue water and boost the water access in Burundi. Furthermore, in 2019, Itron Inc. signed a contract with Louisville Water Company, to improve operational efficiency. These contract which helps to serves more than one million people in Louisville, Kentucky and the surrounding areas, to enhance the water usage data collection process.
- Suez SA:
Suez SA is a leading French multinational corporation that operates mostly in the water treatment and waste management sector. The company has become indispensable to enhance the new growth models that consume resources. Moreover, it provides a water and water management solution that will help the citizens and industries to optimize resource management and enhanced environment growth. Also, it contains the entire water cycle value chain and construction water treatment facilities, drinking water distribution and sewerage services. Furthermore, in 2019 the company has expanded its digital solution range for improving the water resource services. As well as in 2019, the company has received four global water awards that include water company of the year, wastewater project of the year, desalination plant of the year and industrial project of the year by taken part in Global Water Summit in London (United Kingdom).
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