Smart Water Management Market

Global Smart Water Management Market Size (2024 to 2032)

The global smart water management market was worth USD 16.50 billion in 2023. The global market is expected to reach USD 18.35 billion in 2024 and USD 42.90 billion by 2032, growing at a CAGR of 11.2% during the forecast period.

MARKET DRIVERS

Concerns about water shortages and growing awareness about depleting water reserves worldwide have led the governments of many countries to invest in Smart Water Management techniques. Several organizations and international campaigns have been focusing on educating and informing people about the need to conserve water, leading to many water management techniques being applied at the ground level.

MARKET RESTRAINTS

The high cost of many of these equipment(s) is the biggest constraint of the market. Lack of expertise and talent availability in this field is another major constraint.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Smart Water Management Market Analysis By Solution

Based on the Solution, the SCADA system segment is projected to be the leading segment throughout the forecast period. SCADA solution aims to reduce energy costs in pumping water through the distribution network and streamline water utility operations and wastewater utility infrastructure. Due to these factors, SCADA has become the top choice in the market.

REGIONAL ANALYSIS

North America has the largest market share of the Smart Water Management market as of 2018 and is projected to remain in the top spot during all of the forecast periods. Development & adoption of innovative technologies, apart from being the R&D hub of Smart Water Management, are driving the growth of North America's Smart Water Management market. Europe has the second largest market share, followed closely by the Asia-Pacific (APAC) region. South America is the fastest-growing market for Smart Water Management, mainly due to the government efforts of Brazil and Argentina.

Asia-Pacific is the second fastest-growing market for Smart Water Management. The growth of the market across the Asia-Pacific region is primarily driven by the recent water crisis in India and China, a huge population coupled with the rise in the standard of living, which has forced the Government to adopt the Smart Water Management Market. Several international organizations have also invested in the APAC region to make their mark in the global domain.

KEY PLAYERS IN THE GLOBAL SMART WATER MANAGEMENT MARKET

The major market players in the Smart Water Management market include:

• ABB Group (Switzerland)
• IBM Corporation (U.S.)
• General Electric (U.S.)
• Itron (U.S.)
• Schneider Electric (France), and others.

DETAILED SEGMENTATION OF THE GLOBAL SMART WATER MANAGEMENT MARKET INCLUDED IN THIS REPORT

This research report on the global smart water management market has been segmented and sub-segmented based on the advanced water meters, solution, and region.

By Advanced Water Meters

• Meter Type
• Meter Read Technology

By Solution

• Network Monitoring
• Advanced Pressure Management
• SCADA System
• Advanced Analytics
• Residential Water Efficiency

By Region

• North America
• Europe
• Latin America
• Asia Pacific
• Middle East & Africa