during the forecast period. The presence of various key players in the ecosystem has led to competitive and diverse market. The growth of the SWM market is expected to gain traction in the next five years, which can be attributed to factors, such as rapid urbanization generating enormous pressure on water utilities for quality and continuous water supply and related services; rapid adoption of advanced technologies for innovating smart solutions to cater to the growing water industry challenges; rising concern for sustainable living leading to the development of regulations and laws by governments across the globe to reduce water consumption; and developing water treatment solutions.
New York, Nov. 25, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Smart Water Management Market by Water Meter, Solution, Service, End User And Region – Global Forecast to 2026” – https://www.reportlinker.com/p04070746/?utm_source=GNW
Developed economies across the globe are facing a major challenge in the form of aging infrastructure, which generates a huge demand for its replacement with smart water infrastructure solutions, offering precise control over water resources through real-time data.
The solution segment to record a larger market share during the forecast period
In Smart water management market by offering the solutions segment is expected to record a larger market share during the forecast period With technology becoming more advanced with time, water utilities are adopting smart solutions to integrate various business processes, accelerating them toward growth.Integrating various advanced technologies with the existing operations helps them increase the operational efficiency of the entire water network even with low infrastructure investment.
These technologies and smart infrastructure are used to develop innovative solutions for customers in the smart water industry. During the forecast period, the adoption of smart solutions fare is expected to surge due to the rising awareness about the quality of water, scarcity of natural freshwater resources, rising consumer demands, and technological advancements.
Residential segment is expected to have higher growth rate during the forecast period
By end user the residential segment is expected to have the highest growth rate 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.
The solutions for SWM in residential areas are more focused on supplying quality water to the consumers, as water and sanitation access rates are higher in residential areas, leading to the rising demand for improved city planning and infrastructure with an efficient water supply and drainage system. In residential areas, the demand for quality water and improved sanitation services is rising due to concerns, such as poor health conditions resulting from contaminated water consumption
AMI Meters segment is expected to have a higher growth rate during the forecast period
By Watermeter Type, AMI meters is expected to have a higher growth rate.AMI is a network-based technology that uses two-way communication to communicate data from water meters to a remote metering master office, providing similar benefits to AMR systems.
The AMI system comprises a head-end system that combines hardware and software to bring water utility data up to date.It also includes digital smart water meters.
However, the fundamental communications network in AMI is bidirectional.AMI supports the collection of meter data more frequently than AMRs, where the data is utilized by the utility for billing, consumption, and usage analysis, and meter control, such as Meter Data Management MDM) and Master Client Index (MCI).
In addition to these, AMI also offers water utilities the ability to turn on and off the services from one central location. AMI systems can tie together more utility departments, from engineering and operations departments to asset management and planning departments. AMI is an advanced and smarter system that has built-in tools for the enhancement of customer service and satisfaction. In the coming five years, AMI is set to replace legacy systems in residential, commercial, and industrial setups due to the increasing demand for advanced functionalities and technologies to analyze, store, and utilize a large amount of data.
Asia Pacific is expected to have a higher growth rate during the forecast period
APAC is estimated to grow at the highest during the forecast period.The fast growth can be largely attributed to factors, such as a rise in the adoption of smart grid solutions, growth in the levels of urbanization leading to an upsurge in water demands, agricultural production, technological incorporation in the utility sector, and an exponential rise in population.
These factors lead to the large-scale deployment of technologies relative to the western regions, supportive government regulations, rising awareness of clean and safe water supply, and growing industrial activities in the region.In APAC, the demand for water efficiency and water resources reusability is high, which is expected to drive the SWM market growth in the region.
The Asia and the Pacific region is home to 60% of the world’s population but has only 36% of the world’s water resources, causing its per capita water availability to be the lowest in the world (APWF, 2009).Due to population growth, urbanization and increased industrialization and water competition, among sectors, has become more severe in the region.
It has seen diverse positive water-valuing initiatives that leverage new financial, governance and partnership models.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the Smart buildings market.
The breakup of the profiles of the primary participants is given below:
• By Company Type: Tier 1 – 35%, Tier 2 – 39%, and Tier 3 – 26%
• By Designation: C-level – 55%, Directors – 40%, Others – 5%
• By Region: North America –30%, Europe –35%, APAC – 25%, ROW -10%
The report covers the competitive landscape and profiles major market players, including 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 several organic and inorganic growth strategies, including new product launches, partnerships and collaborations, and acquisitions, to expand their offerings and market shares in the global Smart water management market.
The market study covers the Smart Water Management market across different segments.It aims at estimating the market size and the growth potential of this market across different segments based on Water Meter (AMR, AMI), Solution (Enterprise Asset Management, Network Management, Smart Irrigation), Service (Professional, Managed), End User (Commercial & Industrial, Residential with regions covered.
The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key benefits of buying the report
The report is expected to help the market leaders/new entrants in this market by providing them information on the closest approximations of the revenue numbers for the overall Smart Water Management market and its segments.This report is also expected to help stakeholders understand the competitive landscape and gain insights to improve the position of their businesses and to plan suitable go-to-market strategies.
The report also aims at helping stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
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