Global Smart Water Management Market Size, Status and Forecast 2021-2025
The Smart Water Management Market report provides a unique tool for evaluating the market, highlighting opportunities, and supporting strategic and tactical decision-making. This report recognizes that in this rapidly-evolving and competitive environment, up-to-date Marketing information is essential to monitor performance and make critical decisions for growth and profitability. It provides information on trends and developments and focuses on market capacities and on the changing structure of the Smart Water Management.
The smart water management market was valued at USD 13.54 billion in 2019 and is expected to reach USD 25.61 billion by 2025, recording a CAGR of over 13.18%, during the forecast period (2020 – 2025).
There will be more than two-thirds of people will be living in water scares areas by 2025 according to Xylem. By 2050 water demand will increase by 55% compared to 2015 levels due to the destruction of water resources by humans due to contamination.
– The major drivers for the smart water management market are technological advancement, growing population and decrease in water resources globally. Increase in supervisory control and data acquisition is also a major driver for the market.
– However, the major restraints to the market include high investments required initially and a very low and slow rate of return. Moreover, lack of expertise to implement these technologies across the globe and slow rate of adoption is also a challenge for the market.
– Nevertheless, the proliferation of IoT and smart cities across various regions promote the growth of the market studied. Technological advancements pertaining to smart meters and their integration with communication solutions (SCADA, GIS, etc.) have transformed water management, to address the challenges faced by water utilities, residents, and industries, in terms of erroneous billing and water management.
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Top Leading Companies of Global Smart Water Management Market are ABB Ltd, IBM Corporation, GE Water & Process Technologies (Suez group), Honeywell International Inc, Schneider Electric (+ Aveva), Siemens AG, Utility Systems (Micro Mega Holdings Limited), Hitachi Ltd, Arad Metering Technologies, TaKaDu Limited, Sensus Inc. (Xylem Inc.), Itron Inc., i2O Water Ltd, Huawei Technologies Co. Ltd, Esri Geographic Information System Company and others.
Industry News and Updates:
– November 2018 – Utility Systems deployed smart prepaid meters for water conservation in South Africa aimed at sustainable water management systems.
– January 2018 – ABB partnered with TaKaDu, a cloud-based water management service provider to provide a smart water management solution to a Chinese city, Ho Chi Minh. The partnership will be in addition to ABB’s water business portfolio. The solution offered to the utility of Ho Chi Minh included ABB’s SCADA to monitor and control the water distribution system and TaKaDu’s Event Management Solution, to detect, analyze, and manage leaks, bursts, faulty assets, telemetry, and operational failures.
Key Market Trends:
Supervisory Control and Data Acquisition (SCADA) to Record a Huge Penetration
– The remote operability through a distributed network, reduced operational costs, increased water savings are the prime promoters of SCADA adoption.
– Moreover, by 2050 it is estimated that 70% of the population will live in urban areas and historical lack of investment in water management is putting the entire water networks in immense pressure. Owing to this, SCADA is being increasingly used in water control and management.
– Further, SCADA adoption is set to penetrate with the growth in smart cities and smart water projects worldwide. In Europe, 100 smart cities have a great scope for adoption of SCADA for solving the problems of water management. London had deployed SCADA for its Thames water management which saw a 13% decrease in water consumption.
– Additionally, from 2018 to 2024 the governments worldwide will invest in 14 billion USD smart water projects which is further expected to augment the market growth.
Europe to be One of the Early Adopters of Smart Water Management Systems
– Europe has around 3.5 million kilometers of the water distribution network which poses great challenges for the government to manage the distribution network presently. For revamping the infrastructure there is a need for EUR 20 billion investment per year.
– In Northern Europe, the Investments are for maintaining the existing systems and in the Mediterranian region, the investments need to be made to comply with Europe’s standards and modern water management systems.
– The EU Commission has also laid out a vision for the future of smart water across the region in its Digital Single Market for Water Services Action Plan that will further drive the market growth.
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Highlights of the Smart Water Management Market Report:
– Detailed overview of Smart Water Management Market
– Changing the Smart Water Management market dynamics of the industry
– In-depth market segmentation by Type, Application, etc.
– Historical, current and projected Smart Water Management market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Smart Water Management Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth.
The research includes historic data from 2016 to 2021 and forecasts until 2025 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.
Finally, the Smart Water Management Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and market development rate and figure, and so on. Smart Water Management industry report additionally Presents a new task SWOT examination, speculation attainability investigation, and venture return investigation.
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