Smart Water Management Global Market Report 2022

Smart Water Management Global Market Report 2022

  • June 2022 •
  • 175 pages •
  • Report ID: 6282639 •
  • Format: PDF
Major players in the smart water management market are Honeywell International Inc., Siemens AG, ABB Ltd, IBM Corporation, Itron, Schneider Electric SE, SUEZ Group, Sensus, Trimble Water, Elentec, HydroPoint Data Systems, TaKaDu, AquamatiX, Nalco Water India Ltd, and Xenius.

The global smart water management market is expected to grow from $10.94 billion in 2021 to $12.97 billion in 2022 at a compound annual growth rate (CAGR) of 18.5%. The market is expected to grow to $22.54 billion in 2026 at a compound annual growth rate (CAGR) of 14.8%.

The smart water management market consists of sales of smart water management services entities (organizations, sole traders and partnerships) that are designed to collect meaningful and actionable data about a city’s water flow, pressure, and distribution. Smart water management involves the integration of systems and methods for monitoring, controlling, and regulating the usage and quality of water resources, as well as the maintenance of connected equipment (pipes, pumps, etc.). Its primary purpose is to ensure that the infrastructure and energy utilized to carry water are efficiently managed. Smart water management characteristics include pressure management, better leakage techniques for water networks, smart network operations and water cycle maintenance, smart water meter technologies, and smart water quality monitoring.

The main types of offerings in smart water management are water meters, solutions, and services.The smart water management solutions include enterprise asset management, network monitoring, advanced pressure management, supervisory control and data acquisition, advanced analytics, and others.

The different types of products include advanced water meters, meter reading technology, cellular network and is used in various sectors such as residential, commercial, industrial.

North America was the largest region in the smart management water market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Increasing demand for clean water due to the increasing global population is likely to drive the growth of the smart water management market.As the population grows, there will be greater demand for water for domestic, industrial, agricultural, and municipal purposes.

The importance of clean water for health, food and nutrition security has been highlighted during COVID-19.Smart water management systems can help to accelerate response plans by identifying vulnerable food value chains, including market locations, and critical areas, and designing tailored and prioritized interventions to improve access to clean water in urban, peri-urban, and rural areas.

For instance, according to IntechOpen, a UK-based publisher of open books and journals report, the world’s population is expected to reach 8.6 billion by 2030 and 9.8 billion by 2050. Further, as per UN World Water Development Report 2019, global water demand is expected to grow 1% every year, accounting for an increase of 20 to 30% by the end of 2050, attributing to rising demand from domestic and industrial sectors.

Strategic collaborations among the companies are shaping the smart water management market.Companies in the smart water management market are undergoing partnerships to develop advanced solutions for their customer.

For instance, in September 2020, Syrinix, a UK-based utility company and TaKaDu, an Israel-based water management company announced a partnership to merge their two top technologies to deliver a broader smart water solution for water utilities.Working together, the companies aimed to save money and improve utility network operations.

Additionally, in May 2021, Grundfos, a Denmark-based provider of pumps and water solutions, and Baseform, a Portugal-based technology leader in online software for water utilities, have announced a strategic partnership to provide powerful digital services to all water utilities around the world. The Grundfos worldwide value offering has been expanded to service the water digital market with Grundfos Utility Analytics, a cutting-edge artificial intelligence (AI), machine-learning utility management solution provided by Baseform.

In June 2021, Mueller Water Products, Inc., a US-based manufacturer of fire hydrants, gate valves, and other water infrastructure products, acquired I20 Water Solutions Ltd for an amount of $20 million. Mueller’s ability to speed its software solutions has been enhanced by the acquisition of i2O Water. Mueller’s digital services platform, SentryxTM, and existing Mueller technology-enabled products for metering, leak detection, pipe condition assessment, and water quality are all enhanced by i2O’s intelligent network solutions. i20 Water Ltd is a UK-based company that provides smart pressure water management solutions.

The countries covered in the smart water management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.