Increasing Demand for Water Conservation Drives Growth – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Global Smart Water Management Market Size, Share, Growth Analysis, By Offering, By Solution, By Services, By End Use – Industry Forecast 2022-2028” report has been added to ResearchAndMarkets.com’s offering.
The global smart water management market size was valued at USD 13.73 billion in 2021 and is poised to grow from USD 15.15 billion in 2022 to USD 31.73 billion by 2030, growing at a CAGR of 10.3% in the forecast period (2023-2030).
Smart water management refers to the use of advanced technologies to monitor, control, and optimize the use of water resources. The global smart water management market is driven by the increasing demand for water conservation, growing need for water quality monitoring and management, and the adoption of smart city initiatives.
Segments covered in this report
Global Smart Water Management Market is segmented based on the offering, solution, services, end-use, and region. According to offering, the smart water management market is segmented into hardware, solution, and services. Based on solution, the market is segmented into enterprise asset management, network management, smart irrigation, and others.
According to service, it is bifurcated into professional and managed. On the basis of end-use, the market is segmented into commercial & industrial and residential. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Driver
The smart water management market is expected to grow significantly due to various drivers, such as the increasing demand for water conservation. Smart water management technologies enable the efficient use of water resources, which is essential for sustainable water management.
The growing need for water quality monitoring and management is another driver of the market, as smart water management technologies enable the real-time monitoring of water quality parameters and the early detection of water contamination. The adoption of smart city initiatives is also a driver, as smart water management technologies are an essential component of smart city infrastructure.
Restraint
The high cost of smart water management technologies is a major restraint for the growth of the market. The deployment of smart water management technologies requires significant capital investment, which has limited their adoption in some regions.
The lack of awareness and understanding of smart water management technologies is also a challenge, as it hinders their adoption by water utilities and other stakeholders.
Market Trends
The integration of smart water management technologies with IoT is an emerging trend in the market, as it enables real-time monitoring and control of water resources. IoT-enabled sensors and devices can collect and transmit data on water usage, quality, and availability, which can be used for analytics and decision-making.
Companies Mentioned
- TaKaDu Ltd.
- ABB Ltd
- IBM Corporation
- Honeywell International Inc.
- General Electric
- Schneider Electric
- Siemens AG
- Cisco Systems Inc.
- Oracle Corporation
- Sensus
- Itron
- Aquamatix Ltd
- Arad Group
- Badger Meter Inc.
- Elster Group GmbH
- Landis+Gyr
- Mueller Water Products
- Neptune Technology Group Inc.
- Trimble Inc.
- Xylem Inc.
For more information about this report visit https://www.researchandmarkets.com/r/g84fiy
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