The “Smart Water Management Market – Growth, Trends, Forecasts (2020 – 2025)” report has been added to ResearchAndMarkets.com’s offering.
The smart water management market was valued at USD 7.14 billion in 2019, and it is expected to reach USD 13.81 billion by 2025, registering a CAGR of 12.31%, during the period from 2020 to 2025.
The worldwide demand for water, as a result of the growing population, increasing urbanization, and the need to address the cost implications of maintaining an aging infrastructure, is among the major driving factors for the growth of the smart water management market.
Similarly, with the growth of IoT, smart cities across various locations are expected to promote the growth of the market studied. Technological advancements related to smart meters and their integration with communication solutions (SCADA, GIS, etc.) have transformed water management systems, to address the challenges faced by water utilities, residents, and industries’ erroneous billing and water management.
Owing to global demand, the need to address the efficiency related to operational issues of water management became essential, due to which adoption of smart water management technologies is expected to gain significant traction. The smart water management products consist of sensors, smart meters, communication infrastructure, and software that enables two-way communication, thus allowing users to gather actionable information and make informed decisions about optimized water distribution and usage. The global water scarcity trends are the sole reason to justify the increasing innovations in this sector and growing adoption. The UN World Water Development Report suggests that by 2050, a quarter of the people would reside in an area affected by the recurring and chronic scarcity of freshwater.
The need for smart water management aligns with predicting failure to allow governments and interested parties to do preventive maintenance, thus saving the considerable cost of replacing infrastructure. Moreover, the American Water Works Association suggests that reparation, maintenance, and expansion of any water services would cost around USD 1 trillion in the next 25 years.
Further, the American Civil Engineers Society (ASCE) states a 23% increase in wastewater treatment by 2030, and the EPA projects a USD 271 billion investment to resolve potential wastewater demands. Predictive modeling, leak protection, water pressure monitoring, and smart metering are some of the technologies that have come up in the market to address such issues.
Demand for IoT-enabled advanced metering infrastructure (AMI) smart water meters is increasing due to their real-time visualization, leak detection, and machine-to-machine (M2M) communications, among other benefits. For instance, Esri, in January 2020, announced its partnership with Open Systems International, Inc. (OSI). Esri’s ArcGIS Utility Network Management is expected to be offered to customers in the electric, gas, and water utility industries. The geographic information system (GIS) and OSI’s monarch operational technology (OT) platform does the job for these facilities. Additionally, Industry 4.0 has been witnessing the amalgamation of industrial IoT and smart water management.
The COVID-19 pandemic has forced governments globally to think of measures to scale up the adoption of water-efficient technologies and introduce better water management practices since the spread of coronavirus has profoundly impacted the water industry.
For instance, according to AWWA and the AMWA, the combined water and wastewater sector impact of the COVID-19 crisis in the US is calculated to be more than USD 27 billion. Millions of American citizens who have lost their jobs during the crisis are at risk of losing running water if they fall behind with bill payments in the coming months, as water utilities in several states have not suspended the policy of shutoffs for non-payment, unlike the UK.
The smart water management market is quite fragmented as the market comprises several global players, and emerging new players vying for attention in a fairly-contested market space. Owing to the emergence of new startups in IoT and AI-based offerings, the market is witnessing intensifying competitive rivalry, which is expected to increase during the forecast period. Some of the significant companies include IBM, Siemens, Schneider Electric, Honeywell, etc.
Key Topics Covered:
1.1 Study Assumptions and Market Definitions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Attractiveness – Porter’s Five Forces Analysis
4.3 Industry Value Chain Analysis
4.4 Impact of COVID -19 on the Market
4.5 Market Drivers
4.5.1 Growing Need to Manage the Increasing Global Demand for Water
4.5.2 Increasing Demand to Reduce Non-revenue Water Losses
4.6 Market Challenges
4.6.1 Lack of Capital Investments to Install Infrastructure
5 MARKET SEGMENTATION
184.108.40.206 Asset Management
220.127.116.11 Distribution Network Monitoring
18.104.22.168 Supervisory Control and Data Acquisition (SCADA)
22.214.171.124 Meter Data Management (MDM)
126.96.36.199 Other Solutions
188.8.131.52 Managed Services
184.108.40.206 Professional Services
5.2 End-user Vertical
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 ABB Ltd
6.1.2 IBM Corporation
6.1.3 Suez group
6.1.4 Honeywell International Inc
6.1.5 Schneider Electric (+ Aveva)
6.1.6 Siemens AG
6.1.7 Utility Systems (Micro Mega Holdings Limited)
6.1.8 Hitachi Ltd
6.1.9 Arad Group
6.1.10 TaKaDu Limited
6.1.11 Sensus Inc. (Xylem Inc.)
6.1.12 Itron Inc.
6.1.13 i2O Water Ltd
6.1.14 Huawei Technologies Co. Ltd
6.1.15 Esri Geographic Information System Company
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
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