MarketsandMarkets forecasts the global Smart Water Management Market size is expected to grow USD 13.8 billion in 2021 to USD 22.4 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 10.1% during the forecast period. The Smart Water Management Market is gaining need for insightful approaches to oversee natural water resources with urban areas becoming increasingly smarter and technologically advanced.
The major companies covered 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), HydroPoint (US), i2O Water (UK), Xenius (India), Neptune Technology (US), Takadu (Israel), Badger Meter (US), AquamatiX (UK), Fluid (US), Lishtot (Israel), Elentec (UK), Syrinix (UK), CityTaps (France), FREDsense (Canada), Fracta (US), and Xylem (US). These players have adopted various growth strategies, such as partnerships, business expansions, mergers and acquisitions, agreements, and collaborations, new product launches to expand their presence in the digital banking platforms market. Partnerships and new product launches have been the most adopted strategies by major players from 2019 to 2021, which helped them innovate their offerings and broaden their customer base.
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ABB Ability, offers an array of solutions to its customers, such as automation and integration with SCADA, distribution automation systems, enterprise asset management, measurement and analytics, cybersecurity, monitoring and control, and water plant optimization. To inculcate full benefits offered by big data and analytics, the ABB Ability platform provides collaborative and remote operations. It also provides a maintenance model to help water companies access the potential of ABB experts by providing them with crucial data insights through analytics. ABB offers a portfolio of solutions, such as leakage management, pump efficiency monitoring system, integrated Geographical Information System (GIS), and ABB Ability Ellipse APM, helping serve its clients in various application areas in SWM, such as flow measurement, temperature measurement, pressure measurement, analytical measurement, and level measurement. In addition, ABB offers the ABB Water Care, a service raising performance of plant’s assets, by offering maintenance and sustainability, performance and reliability, operational improvement, cybersecurity, system life cycle optimization through an integrated suite of applications and tools, and fingerprinting and benchmarking technologies.
IBM offers strategic water management solutions through its products, IBM Intelligent Water and IBM Enterprise Asset Management for water utilities. IBM Intelligent Water is a platform optimizing water operations by providing data insights into the water utilitys infrastructure, assets, and operations. The platform offers features, such as advanced data management, visualization, correlation, and collaboration; utilizing data received from metering systems, assets, systems, and stakeholders; and transforming the data into actionable information. IBM Intelligent Water consists of IBM Intelligent Operations for Water, a water management software offering functionalities, such as infrastructure visibility, integration with IBM’s Intelligent Water Efficiency Analytics, combined sewer overflow mitigation, water conservation and smart metering, smart irrigation for parks and golf courses, water and wastewater situational awareness and quality management, pressure and leak management, urban flood management, and work scheduling optimization. IBM also offers the IBM Enterprise Asset Management suite built upon the IBM Maximo Asset Management configuration tools, comprising solutions for workforce management, supply chain management, and asset management.
Smart Water Management Market by Water Meter (AMR, AMI), Solution (Enterprise Asset Management, Network Management, Smart Irrigation), Service (Professional, Managed), End User (Commercial & Industrial, Residential), and Region - Global Forecast to 2026
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