The Global Smart Water Management Market size is expected to reach $ 23. 46 billion by 2027, rising at a market growth of 10. 4% CAGR during the forecast period. Water regulatory authorities around the globe must realize the importance of being proactive to deploy smart water technologies to effectively manage their distribution channels, upgrade their operations, bring down maintenance costs, and increase the awareness among the customers regarding water conservation and decrease non-revenue water losses due to the increase in thefts and water leakage cases.
New York, Dec. 27, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Smart Water Management Market By Component, By End User, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" - https://www.reportlinker.com/p06193321/?utm_source=GNW
Smart water management is considered as the water management which shifts traditional water conveyance with the latest technologies. A number of assembling firms and synthetic-based companies are implementing smart water management to reduce the wastage of water and to use their energy efficiently. Smart water management suggests the utilization of data and corresponding innovations to tackle different challenges in water management.
Smart water management uses a broad range of instruments and programming devices such as water meters, sensors, and programming examination. This system can be used to monitor and regulate the water stream, supply, and its usage across various hubs from a distant location.
COVID-19 Impact Analysis
During the global pandemic, the IT and telecom sector had been crucial to boosting the digital transformation and infrastructure of the nations. Every person, governmental bodies as well as the private body tried to stay connected with one another in order to stay updated and gain real-time information on the COVID-19 pandemic. In the present scenario, healthcare, utilities, telecommunication, and government sectors are striving hard to manage the devastating condition and provide required services to each person.
In the 2nd and 3rd quarter of 2020, the cases of COVID-19 infections increased rapidly. Along with severely affecting the people, the global pandemic has had a huge impact on every kind of businesses. Core industries like textile, manufacturing, automotive, travel & hospitality, transportation & logistics, and consumer goods, have been shut down because of the stringent COVID-19 restrictions.
Market Growth Factors
The growing requirement to substitute current and outdated water infrastructures
The water infrastructure involves automated systems for water treatment, storage, supply, flood prevention, and management of water resources. These systems have been installed for many years which are presently overwhelmed by the increasing demands. Hence, constant attention, repairing, and maintenance are needed to streamline the process of water supply. Additionally, these outdated structures take high costs of maintenance while eventually decreasing their efficiency. To tackle these challenges, the water utilities have begun to embrace smart methods to effectively manage water and cut down the costs of maintenance, and offer a superior experience to the consumers.
Deployment of smart water management solutions in the smart cities
Governments across the globe are aiming to integrate smart technologies to drive economic growth as a major part of their urban planning strategy. Smart city initiatives, which began in 2013, comprise several aspects like smart mobility, smart energy, smart buildings, smart infrastructure, smart technology, and smart healthcare. Moreover, smart water management is one of the crucial components of a smart city. Additionally, the smart city initiatives open lucrative business avenues for the vendors of smart water management with the drastic rise in population, rising demand for food, fast-paced urbanization, and overutilization of resources.
Market Restraining Factors
Challenges in the installation of technology over the traditional infrastructure
To fulfill the demand for an extremely volatile and competitive industry, the market of water utilities is constantly evolving and changing to address the challenges of the water sector which are appearing from climate change, droughts, and infrastructure issues that are creating a massive scarcity of water. Several components of technology like hardware, software, and network components, need appropriate integration with smart meters, sensors, network switches, and valves over the conventional system infrastructures that can pose a major challenge for the market vendors to force water utilities to install smart water management solutions.
The Smart Water Management Market is segregated into Water Meters, Solutions, and Services. The solutions segment is expected to display a promising growth rate in the smart water management market during the forecasting period. With the technological developments over time, water utilities are embracing smart solutions to incorporate several business processes, pushing them towards further development.
End User Outlook
The Smart Water Management Market is segmented into Commercial & Industrial and Residential. The commercial and industrial segment would emerge as the leading segment of the market over the forecast period. Water supply and distribution fall under the ambit of municipal bodies directly managed by the government authorities in any nation.
The Smart Water Management Market is analyzed across North America, Europe, APAC, and LAMEA. APAC would exhibit the highest growth in the overall market during the forecasting period. Factors such as the growing adoption rate of smart grid solutions, rising urbanization resulting in increased water demands, agricultural production, integration of technology in the utility sector, and a drastic increment in the population are responsible for the massive growth of the regional market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Oracle Corporation, Schneider Electric SE, Xylem, Inc. (Sensus), Siemens AG, ABB Group, Itron, Inc., Landis+Gyr Group AG, Honeywell International, Inc., and Badger Meter, Inc.
Recent Strategies Deployed in Smart Water Management Market
Partnerships, Collaborations, and Agreements:
Nov-2021: ABB came into a partnership with DHI Group, a Danish water environment specialist. Following the partnership, the two companies would together develop next-generation of smart water solutions, creating more awareness about the careful utilization of water.
Oct-2021: Landis+Gyr joined hands with South East Water, one of three Victorian Government-owned retail water corporations. Following the collaboration, the two entities would work towards the provision of smart water meters and for deploying a leak detection programme. In addition, this would assist the utility to estimate and track consumer water utilization in real-time for superior water efficiency and precise billing.
Oct-2021: Xylem extended its partnership with Imagine H2O, the leading water innovation accelerator and ecosystem for water entrepreneurs. Through this extended partnership, the companies aimed to uncover the latest technologies and become certain about the fact that communities can access the solutions needed to offer secure, cost-effective, and reliable water to people.
Oct-2021: Xylem partnered with Dragos, the global leader in cyber security for industrial controls systems (ICS)/operational technology (OT) environments. Through this partnership, the two entities would offer best-in-breed industrial cyber security to crucial infrastructure in the water sector. Moreover, the companies aimed to provide co-branded incident response and incident prevention services to water utility customers of Xylem across the world.
Oct-2021: Schneider Electric came into a partnership with Wilo, a European manufacturer of pumps and pump systems for the building technology, water, and industrial sectors. Under this partnership, the two companies would together design sustainability and efficiency solutions for the water and buildings industries.
Sep-2021: Landis+Gyr came into a partnership with Iota, the commercial arm of South East Water. The partnership aimed to provide a network leak detection sensor in order to assist water utilities in Australia and New Zealand to cut down non-revenue losses.
Jun-2021: Itron formed a partnership with digimondo, a German IoT solutions firm. The partnership aimed to assist water utilities to enhance the management of distribution networks by harnessing LoRaWAN. Through this partnership, the two companies would provide German customers a flexible way to manage and track their distribution network built on safe, industry-established IoT open standards.
Jun-2021: Itron signed an agreement with United Utilities, the biggest listed water company of the United Kingdom. Through this partnership, the two companies would install Temetra, the advanced cloud-based meter management solution of Itron to enhance Water Delivery and Management.
May-2021: Itron came into a partnership with Microsoft, an American multinational technology corporation. Following the partnership, the two companies aimed to ensure that utilities take complete advantage of advanced metering infrastructure (AMI) and data. The partnership aimed to create extremely scalable cloud-based meter data management services to assist utilities in harnessing data obtained from AMI and increase the use cases of smart meters.
Mar-2021: Itron signed an agreement with Welsh Utility. The agreement would enhance water data management and automate meter reading.
Mar-2021: Schneider Electric joined hands with SUEZ to form a joint venture. Through this joint venture, the two companies would bolster water operators and industrial players to expedite their digital transformation, by offering them an innovative range of software solutions for planning, operation, maintenance, and optimization of water treatment infrastructure.
Jan-2021: Itron signed an agreement with Floresti Communal Services in Moldova in Eastern Europe. The partnership aimed to install its Water Operations Management (WOM) solution, residential and commercial & industrial (C&I) water meters, and wide-area low-power network in order to drive up operational efficiency and assist conserve water in Moldova.
Jan-2021: ABB entered into a partnership with Surat Municipal Corporation (SMC), the governing civic authority. The partnership aimed to launch advanced technology and complement its vision of offering constant water supply across the city of Surat with the 24/7 Water Supply Scheme.
Acquisitions and Mergers:
Oct-2021: Xylem acquired Anadolu Flygt, Turkey’s market leader in the supply, installation, and after-sales service for pump and water treatment systems. Through this acquisition, the company aimed to fulfil the demands from countries worldwide, and further expedite its growth in the Middle East market with an improved portfolio of digital water solutions and proven systems for careful water utilization.
Sep-2021: Landis+Gyr signed an agreement to acquire Luna Elektrik Elektronik Sanayi ve Ticaret, a vendor of smart metering devices for electricity, water, and heat and related software solutions. Through this acquisition, the company would increase its main capabilities in smart metering while boosting its offering of affordable solutions with well-formed manufacturing capabilities in Izmir.
Jul-2021: Landis+Gyr took over the AMR (Automated Meter Reading) Business of Telia in Finland. This acquisition aimed to bolster Landis+Gyr’s managed services footprint in the EMEA region, thereby increasing the number of metering points under a managed service contract in Europe with Landis+Gyr to around 2.5 million.
Jan-2021: Badger Meter took over Analytical Technology, a privately held provider of water quality monitoring systems. Through this acquisition, the company would integrate ATI’s solutions including industry-leading electrochemical sensors from with excellent optical water quality monitoring devices from s::can which would offer Badger Meter with a completely exhaustive, reliable, and scalable water quality monitoring providing that offers real-time data on demand to municipal water utilities and industrial users.
Product Launches and Product Expansions:
Oct-2021: Schneider Electric launched version 21.2 of EcoStruxure Automation Expert. Through this, the company aims to expand the capabilities of the world’s first software-centric universal automation system, and according to its maker, this latest version will focus on assisting future-proof water and wastewater (WWW) plant operations.
Dec-2020: Xylem rolled out Avensor, a cloud-based monitoring system. This new system would enable operators to remotely track pump stations and other assets from their smartphones, tablets, or PCs.
Scope of the Study
Market Segments covered in the Report:
o Enterprise Asset Management
o Smart Irrigation Management
o Advanced Pressure Management
o Customer Information System & Billing
o Network Management
o Analytics & Data Management
o Leak Detection
• Water Meters
o Automatic Meter Reading
o Advanced Metering Infrastructure
o Professional Services
o Managed Services
By End User
• Commercial & Industrial
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• IBM Corporation
• Oracle Corporation
• Schneider Electric SE
• Xylem, Inc. (Sensus)
• Siemens AG
• ABB Group
• Itron, Inc.
• Landis+Gyr Group AG
• Honeywell International, Inc.
• Badger Meter, Inc.
• Exhaustive coverage
• Highest number of market tables and figures
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• Assured post sales research support with 10% customization free
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