Smart Water Management Market by Water Meter (AMR, AMI), Solution (Enterprise Asset Management, Network Management, Smart Irrigation), Service (Professional, Managed), End User (Residential, Commercial, Industrial) and Region - Global Forecast to 2028
[276 Pages Report] The smart water management market size is expected to grow from USD 16.6 billion in 2023 to USD 28.2 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 11.3% during the forecast period. The rising challenge of water scarcity and a growing need for effective water resource management will drive the smart water management market.
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Smart Water Management: Market Dynamics
Driver: Growing rapid urbanization
Rapid urbanization is leading to a significant increase in the water demand. This is putting a strain on existing water resources and infrastructure. Smart water management solutions can help utilities to meet the growing demand for water by improving water efficiency, reducing water loss, and optimizing water distribution. Urbanization is also leading to a decline in water quality. This is due to factors such as pollution and wastewater runoff. Smart water management solutions can help utilities to improve water quality by monitoring water quality in real-time and identifying and addressing potential problems early on.
Restraint: Integration of water systems with modern smart solutions
Legacy water systems may be incompatible with modern smart water management solutions. This can be due to differences in hardware, software, or communication protocols. Itegrating legacy water systems with modern solutions can be expensive, especially if the legacy systems are in poor condition or need to be significantly upgraded. Integrating legacy water systems with modern smart solutions can indeed be a complex and costly process due to several factors. Legacy water systems often rely on older hardware and software that may not easily integrate with newer, smart technology. These legacy systems may use proprietary communication protocols and data formats that are incompatible with modern smart devices and platforms. As a result, significant engineering and customization are required to establish communication and data exchange between the old and new systems. Smart water management relies on the collection and analysis of data from various sources, such as sensors, meters, and remote monitoring devices. Legacy systems may not adhere to modern data standards, making it necessary to standardize and format data for seamless integration. This process can be time-consuming and resource-intensive. The integration of modern technologies with legacy systems is a multifaceted process. It demands careful planning, substantial investments, and technical expertise to overcome compatibility issues, data standardization, and infrastructure upgrades.
Opportunity: Increasing role of smart water management in smart city revolution
The smart city movement is providing a significant opportunity for the smart water management market. Smart water management solutions can help smart cities to improve water efficiency, reduce water costs, optimize water distribution, and adapt to the challenges of climate change. A number of smart cities around the world are implementing smart water management solutions, such as smart water meters, smart water distribution systems, and smart wastewater management systems. As more and more cities adopt smart water management solutions, the demand for smart water management products and services is expected to grow.
Challenge: High initial investments and lower return
Water utilities is a government-controlled and highly regulated industry where technology implementations take place gradually. The installation of smart water meters requires high capital investments. There is no government aid provided for the installation of smart water meters. This makes it difficult for the utilities and end users to install smart water meters. Further, utilities are incapable of making heavy capital expenditures as they face losses due to nonrevenue water, water theft, and leakages. The smart metering infrastructure requires various components, such as measuring and sensing devices, real-time communication devices, data management systems, and control tools. All these components increase the total cost of smart water metering. With heavy capital spending to implement smart technologies, a significant and promising ROI is expected. Technology deployments are slow, with each project implementation taking up to 5 to 7 years, eventually delaying the ROI. Hence, to develop a faster RoI, the cost management steps taken by water utilities must understand the cost to serve customers, workforce spending, capital costs, cost of outsourcing processes, and cost of implementing programs focused on low emissions.
Market Ecosystem
Residential segment is expected to account for a higher CAGR during the forecast period
The demand for freshwater in residential areas has shown unprecedented growth due to the world’s growing urban population, changing lifestyles, and eating habits leading to higher water consumption. The increase in water consumption is more pronounced in urban settings with high population density with the presence of production industries that contribute toward major water consumption. The rising demand for quality water services is expected to propel the demand for SWM solutions in residential areas.
Industrial segment is expected to hold the highest market share during CAGR during the forecast period.
The industrial segment of the Smart Water Management market includes manufacturing, energy and utilities, agriculture, mining, and other industries. The industrial sector stands at the forefront of the Smart Water Management market, playing a pivotal role in revolutionizing the way we manage and utilize this precious resource. With a growing awareness of the environmental and economic implications of water scarcity, industries are increasingly turning to smart technologies to optimize their water usage.
North America to account for the largest market share during the forecast period
North America is estimated to hold the largest share of the overall Smart water management market. Governments in North America are increasingly supporting the adoption of smart water management solutions through initiatives and regulations. Also, much of the water infrastructure in North America is aging and in need of replacement. Smart water management solutions can be used to extend the life of existing infrastructure and improve its performance.
Key Market Players
The Smart water management market vendors have implemented various organic and inorganic growth strategies, such as new product launches, product upgrades, partnerships and agreements, business expansions, and mergers and acquisitions to strengthen their offerings in the market. The major vendors in the global Smart water management market Siemens (Germany), IBM (US), ABB (Switzerland), Honeywell Elster (US), Schneider Electric (France), Itron (US), SUEZ ( France), Oracle (US), Landis+Gyr (Switzerland), Trimble Water (US), Xylem (US), Kamstrup (Denmark), HydroPoint (US), i2O (UK), Xenius (India), Neptune Technology (US), TaKaDu (Israel), Badger Meter (US), AquamatiX (UK), Lishtot (Israel), CityTaps ( France), FREDsense (Canada), Fracta (US), Smart Energy Water (US), Ayyeka ((US), Ketos (US).
The study includes an in-depth competitive analysis of these key players in the Smart water management market with their company profiles, recent developments, and key market strategies.
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Report Metrics |
Details |
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Market size available for years |
2018-2028 |
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Base year considered |
2022 |
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Forecast period |
2023-2028 |
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Forecast units |
Value (USD Million/ Billion) |
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Segments covered |
By offering, end-user, technology and region |
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Regions covered |
North America, Europe, Asia Pacific, Latin America, and Middle East and Africa |
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Companies covered |
Siemens (Germany), IBM (US), ABB (Switzerland), Honeywell Elster (US), Schneider Electric (France), Itron (US), SUEZ ( France), Oracle (US), Landis+Gyr (Switzerland), Trimble Water (US), Xylem (US), Kamstrup (Denmark), HydroPoint (US), i2O (UK), Xenius (India), Neptune Technology (US), TaKaDu (Israel), Badger Meter (US), AquamatiX (UK), Lishtot (Israel), CityTaps ( France), FREDsense (Canada), Fracta (US), Smart Energy Water (US), Ayyeka ((US), Ketos (US). |
This research report categorizes the smart water management market to forecast revenues and analyze trends in each of the following subsegments:
By Offering:
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Water Meters
- AMR Meters
- AMI Meters
- Solutions
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Services
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Professional Services
- Consulting Services
- System Integration and Deployment Services
- Support and Maintenance Services
- Managed Services
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Professional Services
By Solutions:
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Enterprise Asset Management
- Asset Condition Monitoring
- Predictive Maintenance
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Analytics and Data Management
- Meter Data Management
- SCADA
- Security
- Smart Irrigation Management
- Advanced Pressure Management
- Mobile Workforce Management
- Network Management
- CIS and Billing
- Leak Detection
- Other Solutions
By End-User
- Residential
- Commercial
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Industrial
- Manufacturing
- Energy and Utilities
- Agriculture
- Mining
- Others
By Technology
- IoT
- AI
- Big Data & Analytics
- Cloud Computing
- Others
By Region:
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North America
- US
- Canada
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Europe
- UK
- Germany
- France
- Rest of Europe*
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Asia Pacific
- China
- Japan
- South Korea
- Rest of Asia Pacific
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Middle East & Africa
- Middle East
- Africa
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Latin America
- Brazil
- Mexico
- Rest of Latin America
Recent Developments:
- In July 2023, SUEZ, a leader in digital and circular solutions in waste and water services, and Schneider Electric, the leader in the digital transformation of energy management and automation, joined forces to accelerate the deployment of digital solutions for energy efficiency, resource conservation, and the control of carbon impact of water cycle management systems.
- In June 2023, SUEZ joined forces with Northumbrian Water Ltd. (NWL) as one of the key partners in the groundbreaking Hydro Powered Concentric Smart Meter Project, the recipient of the Ofwat1 Innovation Fund’s Catalyst Stream prize.
- In November 2022, Siemens became a sustaining partner for The Water Tower. As part of the partnership, the conglomerate corporation will sponsor The Water Tower’s Control Center, a learning and demonstration center for emerging digital technologies in the water and wastewater industries.
- In October 2022, Landis+Gyr Pty Ltd., a subsidiary of Landis+Gyr Group AG (SIX: LAND), partnered with Watercare, New Zealand’s largest water utility, to deploy 22,000 of Landis+Gyr’s W350 smart water meters across Auckland.
- In September 2022, Trimble acquired Bilberry, a startup focused on using artificial intelligence for spot spraying. The acquisition of Bilberry builds out Trimble’s crop protection portfolio by adding green-on-green selective spraying capabilities and supports the development of autonomous solutions..
Frequently Asked Questions (FAQ):
What is Smart water management ?
Smart water management is an integration of smart meters, smart technology solutions, and services that use Information and Communication Technology (ICT) and real-time data and responses as a vital part of the solution for challenges. It brings transparency and improved control to the whole water supply chain, improves water distribution network efficiency, reduces energy costs in pumping water through the distribution network, streamlines water utility operations, and enhances asset management for water and wastewater utility infrastructure by continuously and remotely monitoring critical water infrastructure. It focuses on prioritizing the flow of data for informed decisions through enterprise asset management, analytics and data management, smart irrigation management, Advanced Pressure Management (APM), and network management
Which countries are considered in the European region?
The report includes an analysis of the UK, Germany, France in the European region.
Which are the key drivers supporting the growth of the Smart water management market?
The major driver of the Smart water management market is technological advancements, including sensors and data analytics, make it increasingly feasible and cost-effective to implement smart water systems.
Who are the key vendors in the Smart water management market?
The key vendors operating in the Smart water management market include. Siemens (Germany), IBM (US), ABB (Switzerland), Honeywell Elster (US), Schneider Electric (France), Itron (US), SUEZ ( France), Oracle (US), Landis+Gyr (Switzerland), Trimble Water (US), Xylem (US), Kamstrup (Denmark), HydroPoint (US), i2O (UK), Xenius (India), Neptune Technology (US), TaKaDu (Israel), Badger Meter (US), AquamatiX (UK), Lishtot (Israel), CityTaps ( France), FREDsense (Canada), Fracta (US), Smart Energy Water (US), Ayyeka ((US), Ketos (US).
Which region is expected to hold the highest market share In the Smart water management market?
North America is expected to hold the highest market share in the Smart water management market. The presence of key players across the region will drive the growth of the market.
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This research study used extensive secondary sources, directories, and databases, such as Factiva, D&B Hoovers, and Bloomberg, to identify and collect information useful for the comprehensive market research study on the SWM market. Additionally, sources such as the Smart Water Networks Forum (SWAN), International Water Resources Association (IWRA), and International Water Association (IWA) were used to collect information specific to the smart water management market. The primary sources were mainly industry experts from the core and related industries, preferred smart water management solution providers, third-party service providers, end users, and other stakeholders. In-depth interviews were conducted with various primary respondents, including key industry participants and subject matter experts, to obtain and verify critical qualitative and quantitative information and assess the prospects.
Secondary Research
The market size of companies offering smart water management solutions and services was arrived at based on the secondary data available through paid and unpaid sources. It was also arrived at by analyzing the product portfolios of the major companies and rating companies based on their performance and quality.
In the secondary research process, various sources were referred to for identifying and collecting information for this study. The secondary sources included annual reports, press releases, and investor presentations of companies; white papers, journals, and certified publications; and articles from recognized authors, directories, and databases. The data was also collected from secondary sources, such as SWAN, Smart Energy International, IWRA, IWA, and the European Smart Metering Industry Group. Additionally, market trends and projects in various countries were extracted from the respective government associations, such as the Australian Water Association (AWA), the American Water Works Association (AWWA), and the Canadian Water Resources Association.
Secondary research was mainly used to obtain key information about the industry’s value chain and supply chain to identify the key players according to their offerings and industry trends related to technology, end users, and region, and key developments from the market and technology-oriented perspectives.
Primary Research
In the primary research process, various primary sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information on the market. The primary sources from the supply side included various industry experts, such as Chief Experience Officers (CXOs), Vice Presidents (VPs), directors from business development, marketing, and product development/innovation teams, and related key executives from smart water management solution vendors, system integrators, professional and managed service providers, industry associations, independent asset management consultants, and key opinion leaders.
Primary interviews were conducted to gather insights, such as market statistics, data on revenue collected from the products and services, market breakups, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to technology, application, deployment, and region. Stakeholders from the demand side, such as Chief Information Officers (CIOs), Chief Technology Officers (CTOs), Chief Strategy Officers (CSOs), and installation teams of the governments/end users who are using smart water management solutions were interviewed to understand the buyer’s perspective on the suppliers, products, service providers, and their current usage of smart water management solutions, which will affect the overall smart water management market.
Breakdown of Primary Interviews
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Market Size Estimation
Multiple approaches were adopted for the estimation and forecasting of the SWM market. The key players in the market were identified through secondary research, and their revenue contribution in the respective regions was determined through primary and secondary research. The entire procedure included the study of annual and financial reports of top market players and extensive interviews for key insights from industry leaders, such as CEOs, VPs, directors, and marketing executives. All percentage splits and breakups were determined using secondary sources and verified through primary sources. All the possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to arrive at the final quantitative and qualitative data. This data is consolidated and added with detailed inputs and analysis from MarketsandMarkets.
Smart water management market: Bottom-Up Approach
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Smart water management market: Top-Down Approach
Data Triangulation
After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and subsegments. The data triangulation and market breakup procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment. The data was triangulated by studying various factors and trends from both the demand and supply sides.
Market Definition
Smart water management is an integration of smart meters, smart technology solutions, and services that use Information and Communication Technology (ICT) and real-time data and responses as a vital part of the solution for challenges. It brings transparency and improved control to the whole water supply chain, improves water distribution network efficiency, reduces energy costs in pumping water through the distribution network, streamlines water utility operations, and enhances asset management for water and wastewater utility infrastructure by continuously and remotely monitoring critical water infrastructure. It focuses on prioritizing the flow of data for informed decisions through enterprise asset management, analytics and data management, smart irrigation management, Advanced Pressure Management (APM), and network management.
Key Stakeholders
- SWM Vendors
- Network and System Integrators (SIs)
- SWM Infrastructure Providers
- SWM Support Service Providers
- Value-added Resellers (VARs) and Distributors
- Water and Wastewater Utilities
- Water Regulatory Authorities
- Water Meter Manufacturers
- Managed Service Providers
- Water Distribution Network Monitoring Solution Providers
- Advanced Pressure Management Solution Providers
- Smart Irrigation Management Solution Providers
Report Objectives
- To determine and forecast the global smart water management (SWM) market by offering (water meter, solution, and service), technology, end user, and region from 2018 to 2028, and analyze various macro and microeconomic factors that affect the market growth.
- To forecast the size of the market segments with respect to five key regions: North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East & Africa (MEA)
- To provide detailed information related to the major factors (drivers, opportunities, threats, and challenges) influencing the growth of the SWM market
- To analyze each sub-segment for individual growth trends, prospects, and contribution to the total SWM
- To analyze the impact of the recession on the SWM
- To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the SWM
- To profile key market players comprising top vendors and start-ups; provide comparative analysis based on business overview, regional presence, product offerings, business strategies, and key financials; and illustrate the market’s competitive landscapes
- To track and analyze competitive developments, such as mergers & acquisitions, product developments, partnerships & collaborations, and Research and Development (R&D) activities
Available Customizations
Along with the market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:
Product Analysis
- Product Matrix which gives a detailed comparison of the product portfolio of each company
Company Information
- Detailed analysis and profiling of additional market players (up to 5)
Generating Response ...
Growth opportunities and latent adjacency in Smart Water Management Market