The global smart water management market revenue was around US$ 16.3 billion in 2022 and is estimated to reach US$ 53.8 billion by 2031, growing at a compound annual growth rate (CAGR) of 14.2% during the forecast period from 2023 to 2031.
Smart water management is sharing, gathering, and analyzing data from networks and water equipment. It makes a more efficient and dependable water supply system, reducing costs and growing sustainability.
Market Driving Factors
Increasing awareness among consumers about water conservation to boost the market expansion. This is because more people are looking to conserve water, save money, and lower their carbon footprint. Furthermore, people want to observe their home's water usage, automate tasks like irrigation schedules, and make reports that detail how much water they have used. A smart water system can help individuals save money on their water bills, and time by automating repetitive operations.
The surge in usage of supervisory control and data acquisition solutions drives the market growth. This is due to improved operation management and correct investments. In addition, it enhances decision-making and reduces energy expenses associated with pumping water through distribution systems. Furthermore, smart water management implements cutting-edge analytic solutions for the improvement of operations and infrastructure.
High initial costs and lower returns may hamper the market growth.
Regional Analysis
Asia Pacific is estimated to dominate the market. This is because of the increase in the usage of smart grid solutions, the surge in urbanization leading to growth in water needs, and an exponential increase in population. These factors led to the widespread adoption of smart technology in the Western region, favorable government laws, increased awareness of clean and safe water supply, and a rise in industrial activity in the region. Furthermore, the region's demand for water efficiency and re-usability is high, which is projected to propel the market growth.
North America is predicted to dominate the market. This is due to the financial incentives, demonstration sites, and incubation facilities. Regulators concentrate on undertaking efforts such as setting leakage decrease targets and setting fines in case of loss to comply with the rules will assist in mitigating waste by introducing codes and standards. Furthermore, the emergence of widespread regulatory requirements, such as the California Water Conservation Act, is also predicted to boost the market in the region.
Segmentation Insights
Offering Insight
The hardware segment is estimated to propel the market growth. This is due to the government agencies, municipalities, and individuals in the residential areas have become aware of the requirement to substitute the worn-out hardware in the water management systems. There is a requirement to replace the old hardware with new modernized hardware owing to the benefits. In addition, they offer water management in a smart way such as monitoring the distribution network, real-time water metering, and others.
End User Insight
The commercial segment dominates the market over the forecast period. This is because significant investments are carried out by private firms to enhance their water supply resources by deploying cutting-edge infrastructure for water management.
Prominent Companies
Segmentation Outline
The global smart water management market segmentation focuses on Offering, Application, End User, and Region.
By Offering
By Application
By End User
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL SMART WATER MANAGEMENT MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: SMART WATER MANAGEMENT MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL SMART WATER MANAGEMENT MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL SMART WATER MANAGEMENT MARKET, BY OFFERING
5.1 OVERVIEW
5.2 SOLUTION
5.2.1 HARDWARE
5.2.2 SOFTWARE
5.3 SERVICE
5.3.1 PROFESSIONAL SERVICES
5.3.2 MANAGED SERVICES
6 GLOBAL SMART WATER MANAGEMENT MARKET, BY APPLICATION
6.1 OVERVIEW
6.2 WATER PIPELINE MONITORING & LEAK DETECTION
6.3 WATER LEVEL MONITORING AND DAM MANAGEMENT
6.4 WATER CONSUMPTION & DISTRIBUTION
6.5 IRRIGATION MANAGEMENT
6.6 WASTE WATER MONITORING
6.7 OTHERS
7 GLOBAL SMART WATER MANAGEMENT MARKET, BY END USER
7.1 OVERVIEW
7.2 COMMERCIAL
7.3 PUBLIC SECTOR
7.4 RESIDENTIAL
8 GLOBAL SMART WATER MANAGEMENT MARKET, BY GEOGRAPHY
8.1 OVERVIEW
8.2 NORTH AMERICA
8.2.1 NORTH AMERICA MARKET SNAPSHOT
8.2.2 U.S.
8.2.3 CANADA
8.2.4 MEXICO
8.3 EUROPE
8.3.1 EUROPE MARKET SNAPSHOT
8.3.2 WESTERN EUROPE
8.3.2.1 THE UK
8.3.2.2 GERMANY
8.3.2.3 FRANCE
8.3.2.4 ITALY
8.3.2.5 SPAIN
8.3.2.6 REST OF WESTERN EUROPE
8.3.3 EASTERN EUROPE
8.3.3.1 POLAND
8.3.3.2 RUSSIA
8.3.3.3 REST OF EASTERN EUROPE
8.4 ASIA PACIFIC
8.4.1 ASIA PACIFIC MARKET SNAPSHOT
8.4.2 CHINA
8.4.3 JAPAN
8.4.4 INDIA
8.4.5 AUSTRALIA & NEW ZEALAND
8.4.6 ASEAN
8.4.7 REST OF ASIA PACIFIC
8.5 MIDDLE EAST & AFRICA
8.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
8.5.2 UAE
8.5.3 SAUDI ARABIA
8.5.4 SOUTH AFRICA
8.5.5 REST OF MEA
8.6 SOUTH AMERICA
8.6.1 SOUTH AMERICA MARKET SNAPSHOT
8.6.2 BRAZIL
8.6.3 ARGENTINA
8.6.4 REST OF SOUTH AMERICA
9 GLOBAL SMART WATER MANAGEMENT MARKET COMPETITIVE LANDSCAPE
9.1 OVERVIEW
9.2 COMPANY MARKET RANKING
9.3 KEY DEVELOPMENT STRATEGIES
9.4 COMPETITIVE DASHBOARD
9.5 PRODUCT MAPPING
9.6 TOP PLAYER POSITIONING, 2022
9.7 COMPETITIVE HEATMAP
9.8 TOP WINNING STRATEGIES
10 COMPANY PROFILES
10.1 ITRON
10.1.1 OVERVIEW
10.1.2 FINANCIAL PERFORMANCE
10.1.3 PRODUCT OUTLOOK
10.1.4 KEY DEVELOPMENTS
10.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.2 TRIMBLE INC
10.2.1 OVERVIEW
10.2.2 FINANCIAL PERFORMANCE
10.2.3 PRODUCT OUTLOOK
10.2.4 KEY DEVELOPMENTS
10.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.3 HONEYWELL INTERNATIONAL INC
10.3.1 OVERVIEW
10.3.2 FINANCIAL PERFORMANCE
10.3.3 PRODUCT OUTLOOK
10.3.4 KEY DEVELOPMENTS
10.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.4 TAKADU
10.4.1 OVERVIEW
10.4.2 FINANCIAL PERFORMANCE
10.4.3 PRODUCT OUTLOOK
10.4.4 KEY DEVELOPMENTS
10.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.5 SUEZ
10.5.1 OVERVIEW
10.5.2 FINANCIAL PERFORMANCE
10.5.3 PRODUCT OUTLOOK
10.5.4 KEY DEVELOPMENTS
10.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.6 KETOS
10.6.1 OVERVIEW
10.6.2 FINANCIAL PERFORMANCE
10.6.3 PRODUCT OUTLOOK
10.6.4 KEY DEVELOPMENTS
10.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.7 ABB LTD
10.7.1 OVERVIEW
10.7.2 FINANCIAL PERFORMANCE
10.7.3 PRODUCT OUTLOOK
10.7.4 KEY DEVELOPMENTS
10.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.8 HYDROPOINT
10.8.1 OVERVIEW
10.8.2 FINANCIAL PERFORMANCE
10.8.3 PRODUCT OUTLOOK
10.8.4 KEY DEVELOPMENTS
10.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.9 IBM CORPORATION
10.9.1 OVERVIEW
10.9.2 FINANCIAL PERFORMANCE
10.9.3 PRODUCT OUTLOOK
10.9.4 KEY DEVELOPMENTS
10.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.10 AYYEKA
10.10.1 OVERVIEW
10.10.2 FINANCIAL PERFORMANCE
10.10.3 PRODUCT OUTLOOK
10.10.4 KEY DEVELOPMENTS
10.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.11 SCHNEIDER ELECTRIC SE
10.11.1 OVERVIEW
10.11.2 FINANCIAL PERFORMANCE
10.11.3 PRODUCT OUTLOOK
10.11.4 KEY DEVELOPMENTS
10.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.12 SIEMENS AG
10.12.1 OVERVIEW
10.12.2 FINANCIAL PERFORMANCE
10.12.3 PRODUCT OUTLOOK
10.12.4 KEY DEVELOPMENTS
10.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.13 NEPTUNE TECHNOLOGY
10.13.1 OVERVIEW
10.13.2 FINANCIAL PERFORMANCE
10.13.3 PRODUCT OUTLOOK
10.13.4 KEY DEVELOPMENTS
10.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.14 ORACLE CORPORATION
10.14.1 OVERVIEW
10.14.2 FINANCIAL PERFORMANCE
10.14.3 PRODUCT OUTLOOK
10.14.4 KEY DEVELOPMENTS
10.14.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.15 XENIUS
10.15.1 OVERVIEW
10.15.2 FINANCIAL PERFORMANCE
10.15.3 PRODUCT OUTLOOK
10.15.4 KEY DEVELOPMENTS
10.15.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.16 LANDIS+ GYR
10.16.1 OVERVIEW
10.16.2 FINANCIAL PERFORMANCE
10.16.3 PRODUCT OUTLOOK
10.16.4 KEY DEVELOPMENTS
10.16.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.17 BADGER METER
10.17.1 OVERVIEW
10.17.2 FINANCIAL PERFORMANCE
10.17.3 PRODUCT OUTLOOK
10.17.4 KEY DEVELOPMENTS
10.17.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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