The Smart Water Management Market (SWM) size is estimated to grow from USD 8.46 billion in 2016 to USD 20.10 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 18.9%.
The report ” Smart Water Management Market by Advanced Water Meters (Meter Type & Meter Read Technology), Solution (Network Monitoring, Advanced Pressure Management, SCADA System, Advanced Analytics, Residential Water Efficiency), Service – Global Forecast to 2021 “, analyses and studies the major market drivers, restraints, opportunities, and challenges in the emerging nations.
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“The need to restrict non-revenue losses across the globe and growing importance of sustainable energy use are some of the factors expected to drive the Smart Water Management (SWM) market”
Smart Water Management Market (SWM) Market Drivers
Smart Water Management Market (SWM) Restraints
Smart Water Management Market (SWM) Opportunities
Smart Water Management Market (SWM) Challenges
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The various key Smart Water Management Market (SWM) vendors profiled in the report are as follows:
1. ABB Group (Zurich, Switzerland)
2. General Electric (New York, U.S.)
3. IBM Corporation (New York, U.S.)
4. Itron (Washington, U.S.)
5. Schneider Electric (Rueil- Malmaison, France)
6. Arad Group (Dalia, Israel)
7. Elster Group (Essen, Germany)
8. Sensus (Raleigh, U.S.)
9. Siemens AG (Munich, Germany)
10. Takadu (Yehud, Israel)
The growth is attributed to the increasing need to restrict non-revenue losses occurred due to aging infrastructure across the world. The growing importance of sustainable energy use in the APAC region owing to growing economy and infrastructure need, and high technological spending in North America and Europe are also driving the growth of the SWM market in these regions.
“Rising smart city projects and smart water irrigation management system is expected to gain prominent traction during the forecast period”
The smart cities and water conservation for irrigation system is expected to grow at the highest CAGR during the forecast period. SWM is ideal for urban development where it can enhance the quality of life with improved technology, economic structure, and environmental change in the interest of smart cities. SWM systems require regular maintenance while the software solutions need to supervise the lifecycle activities of utility for high return on investments.
“North America is expected to witness a high growth potential during the forecast period”
North America is expected to account for the largest market share in 2016. The drivers responsible for the growth of SWM market in North America are stable economy, technological advancements, and newer infrastructure demands. With the increasing use of SWM solutions in government & utilities and manufacturing verticals in the U.S., the SWM market in this region is set to grow at a rapid pace in the region.
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key industry personnel.
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The report will help the market leaders/new entrants in SWM market in the following ways:
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