Global Smart Water Management Market By Offering (Services, Solutions), By Water Meters (AMI Meters, AMR Meters), By Applications (Water Consumption & Distribution, and Others), By End-Use By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

The Global Smart Water Management Market size is expected to be worth around USD 45.10 Billion by 2032 from USD 15.60 Billion in 2022, growing at a CAGR of 11.50% during the forecast period from 2023 to 2032.

Smart water management utilizes cutting-edge technologies and data analysis to optimize resource use and enhance water management practices. Multiple factors are driving this market for smart water management, such as an increasing need for resources due to population growth and urbanization, along with the increasing adoption of IoT, AI, and big data analytics in this sector.

With an ever-increasing need for sustainable water practices and conservation measures worldwide, the smart water management market will experience rapid expansion over the coming years. Globally, utilities and governments are investing in cutting-edge technologies to increase usage, reduce losses, and enhance distribution networks.

Driving Factors

Major market players are undertaking product launches, mergers, and acquisitions as well as geographic expansion. ABB, DHI Group & a Danish H2O specialist joined forces in October 2021 to work on digital solutions that would help in faster decision-making.

Itron signed an agreement with United Utilities England to improve its operations through Temetra – its cloud-based meter data collection & management technology – which will assist with distribution & administration tasks.

The smart liquid administration market will experience substantial growth because of key player acquisitions and product innovations within software programs.

Owing to its real-time visualization and detection of leaks and machine-to-machine interactions, IoT-based metering infrastructure is in high demand. In January 2020, Esri announced a partnership with Open Systems International (OSI).

These facilities are provided through OSI’s monarch operating technology (OT) and geographic information system (GIS). Industry 4.0 also saw the convergence between IoT and H2O management.

Restraining Factors

Lack of Skilled Workforce.

According to a 2017 Workforce Renewal and Skills Strategy published in Energy & Utility Skills, water utilities will face a shortage of 221,000 workers within the next ten years. The shortage is due to an aging workforce as well as a tight labor market and a lack of technical skills.

The widespread adoption of IoT and smart networks at all levels has made it imperative to increase the skills of all water utility workers, new or old. The utilities sector’s resilience measures have been put to the ultimate test by the pandemic. This has opened the doors for new, more flexible, and responsive ways of working that fully utilize current technologies.

A shortage of digitally-skilled personnel in water utilities is a major problem in today’s technologically driven world. Additionally, millennials are not aware of the opportunities that this sector offers for their career. These factors also limit growth in the smart water management market.

Growth Opportunities

Increased Role of Smart Water Management in the Smart City Revolution.

Smart technologies have been increasingly recognized by governments around the world as an essential element of urban planning. Since 2013, several smart city initiatives have been underway worldwide. They span various sectors, such as energy efficiency, smart buildings, IoT technology, mobility solutions, and infrastructure upgrades. Smart water management (SWM) is one of the key elements that define a truly smart city. SWM, also referred to as Sustainable Water Management (SWM), is an infrastructure sector that provides digital wastewater and water treatment solutions.

SWM solution providers have huge business prospects due to the rapidly increasing population, rising food demand, and overexploitation. According to the United Nations Department of Economic and Social Affairs, 68% of humanity will reside in cities by 2050. As a result, smart water solutions providers have an enormous business opportunity.

Accurate measurements of water consumption and forecasting are now possible, making smart water systems necessary. To collect actionable data about a city’s water flow and pressure, the International Water Resources Authority (Kwater), Asia Water Council (AWC), and water experts worldwide have joined forces to launch three Smart Water Management projects from July 2020 until December 2023.

Latest Trends

Growing Need for Water Management Trends in Smart Water Management Market.

UN-Water reports that by 2025, 1.8 billion people could be living in countries or regions with absolute water scarcity. Developing nations are particularly affected by shortages, flooding, and poor water quality. As part of the United Nations’ 2030 Agenda for Sustainable Development goals, countries are working toward achieving water targets across 17 SDGs.

According to the World Water Council, nearly four billion people are expected to face water stress by 2025. Contaminated drinking water poses a serious threat to public health and outdated dams and infrastructure have also caused harm. Long-lasting droughts and inefficient distribution systems pose additional obstacles to water supply management; outdated asset management puts lives in jeopardy.

Offering Analysis

The Services Segment is The Most Lucrative Segment in The Smart Water Management Market.

Based on offerings, the market for smart water management is divided into services and solutions. Among these types, the market for smart water management is dominated by the service segment with a market share of 56.7% and a CAGR of 11.8%.

Owing to its increasing awareness regarding the quality of water, rising consumer demands, technological advancements, and scarcity of natural freshwater resources. Additionally, it has the ability to increase the operational efficiency of the whole water network even with low infrastructure investment.

The Solutions Segment is Expected to Grow in the Projected Period in the Smart Water Management Market.

However, the service segment is expected to grow at the highest CAGR of 10.3% and a market share of 43.3% during the forecast period. Due to rapid urbanization and the widespread adoption of advanced technologies for creating smart services. These factors are major influences on solutions within the smart water management market.

Water Meters Analysis

The AMI Meter Segment is The Most Lucrative Segment in The Smart Water Management Market.

Based on water meters, the market for smart water management is segmented into AMI meters and AMR meters. Among these types, the AMI meter segment is the most lucrative in the global smart water management market, with a projected CAGR of 11.2%. The total revenue share of AMI meters in smart water management is 63.7% in 2022.

Owing to AMI meters offer real-time data on water consumption, enabling water utilities and end users to monitor their usage more effectively and make data-driven decisions for optimal water management strategies. AMI meters utilize two-way communication between the meter and the central data collection system for automated billing in real-time.

Furthermore, AMI meters support other smart water management applications like leak detection, pressure management, and customer engagement.

The AMR Meter Segment is Expected to Grow in the Projected Period in the Smart Water Management Market.

Followed by the sensor, which accounted for the fastest-growing type segment in the Smart Water Management market, and its estimated market share is 36.3% in 2022.

AMR meters remain an integral component of smart water management, particularly in regions where AMI meters are not yet economically feasible. AMR meters offer water utilities and end-users a cost-effective solution to enhance their practices by providing regular readings on meters and monitoring water consumption patterns.

Application Analysis

Water Consumption & Distribution, Segment Accounted for the Largest Revenue Share in Smart Water Management Market in 2022.

Based on application, the market is segmented into water consumption & distribution, water pipeline monitoring & leak detection, water level monitoring and dam management, irrigation management, and wastewater monitoring.

Among these types, the water consumption & distribution segment is expected to be the most lucrative segment in the global smart water management market, with the largest revenue share of 32.7% and a projected CAGR of 12.3% during the forecast period. The rising water demand, coupled with the need for efficient distribution systems, is driving growth in this segment.

Smart water management systems help reduce losses in the system, optimize distribution networks, and boost overall water efficiency.

Water Pipeline Monitoring and leak Detection Segment is the Fastest Growing Application Segment in the Smart Water Management Market.

The water pipeline monitoring & leak detection segment is projected as the fastest-growing application segment in the smart water management market, with a revenue share of 24.6% in 2022. Owing to increasing concerns about water scarcity, aging water infrastructure, and the need for sustainable water management practices.

The adoption of smart water management solutions like pipeline monitoring and leak detection systems is expected to increase in the coming years as water utilities and governments around the world seek to reduce water losses and improve the efficiency of water distribution networks.

End-Use Analysis

Commercial & Industrial Holds the Significant Share in End-Use Segment in Smart Water Management Market.

Based on end-use, the market is divided into commercial & industrial, and residential. Among these end-user’s commercial & industrial segment is dominant in the end-user segment in the smart water management market, with a market share of 62.5% and a CAGR of 12.5.

This is in both developing and developed countries, municipal authorities are in charge of H2O supply and distribution – directly handled by the government sector. The lack of privatization in this sector causes system efficiency issues. Furthermore, the lack of consistent public sector oversight of smart H2O delivery networks globally has led to a high frequency of leakage incidents as well as losses related to H2O usage.

Industries must address many water issues. This includes maintaining safe water pressure and quality, disposing of industrial wastewater in compliance with regulations, and ensuring that process downtime is reduced and production interruptions are minimized due to damaged assets (e.g. pumps for cooling water or pumping wastewater).

The residential segment is Identified as the Fastest Growing End-Use Segment in the Projected Period.

Residential is also an important end-user segment in the smart water management market and it is expected to grow faster in the material segment in the smart water management market with a CAGR of 10.3% and a market value is 37.9%.

It is fastest growing due to smart water management systems have become increasingly commonplace in residential buildings. They help homeowners better monitor and manage their water consumption, leading to lower bills and the conservation of natural resources.

Due to rising costs, scarcity of resources, and environmental concerns, these systems offer real-time information on water usage patterns, potential leaks, or wastage so users can take corrective actions while conserving resources.

Key Market Segments:

Based on Offering

• Solutions
• Services

Based on Water Meters

• AMR Meters
• AMI Meters

By Applications

• Water Pipeline Monitoring & Leak Detection
• Water Level Monitoring and Dam Management
• Water Consumption & Distribution
• Irrigation Management
• Waste Water Monitoring
• Other Applications

By End-Use

• Residential
• Commercial & Industrial

COVID-19 Impact Analysis

Digital Change, Impact on Revenue These are the Impacts of COVID-19 on the Smart Water Management market.

Notwithstanding the COVID-19 epidemic, the smart water management sector has continued to expand as private businesses & industries have minimized their water use while delaying expenditures for projects. Furthermore, governments around the world prioritized the water needs of residential over industry, leading to an increase in residential sector sales.

Furthermore, several countries have implemented stringent measures to protect end-user data in light of rapid digital change like the California Consumer Privacy Act (CCPA) & Global Data Protection Regulation (GDPR).

Governments around the world have taken strict actions against defaulters of COVID-19 regulations, and natural language processing technology is helping financial institutions scan internal policies & claims documents to confirm adherence to different regulatory standards.

Unfortunately, because of too lengthy development timelines and high investment requirements, larger industries are finding it harder to stay abreast of developments while midsize and smaller firms struggle even more to adopt technologies.

Additionally, developed countries like The U.S. faced a financial impact as revenue generated by the water industry declined by 16.9% because of utility shutoffs for non-payment, cutting in non-commercial water demands & low customer growth. Moreover, this impact is predicted to delay & reduce capital expenditures on new projects for helping in managing cash-flows because of the crisis.

Regional Analysis

North America Accounted for the Largest Revenue Share in Smart Water Management Market in 2022.

North America is estimated to be the most lucrative market in the global smart water management market, with the largest market share of 41.4%, and is expected to register a CAGR of 11.7% during the forecast period.

Owing to the rising demand for sustainable energy solutions & stringent government regulations in several economies. When delivering prediction analysis of national data, the existence & availability of the famous brands and the restraints followed by local and established brands.

APAC is expected as the Fastest Growing Region in a Projected Period in the Smart Water Management Market.

Asia Pacific is expected as the fastest-growing region in the forecast period in the smart water management market with a CAGR of 12.6% and a market value of 34.7%.

Due to many factors like the rise in the use of smart grid solutions in urbanization which led to an increase in H2O needs, technological incorporation in the utility sector, agricultural production, and an exponential rise in population, all contribute to the rapid market expansion. The demand for H2O and re-usability is strong in APAC and that leads to a boost smart water management market.

Key Regions and Countries Covered in this Report:

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Market Share & Key Players Analysis:

The smart water management market studied comprises various global players & emerging new players competing for attention in a fairly contested market space. The firm’s concentration ratio is predicted to record higher growth during the forecasted period due to various firms considering this market a dominant opportunity for consolidating their offerings.

Several companies are launching new and advanced products in the market. For instance, TaKaDu partnered with Asystom to provide water utility customers with an integrated enhanced central management solution.

Market Key Players:

Listed below are some of the most prominent smart water management industry players.

• ABB Ltd.
• Badger Meter Corporation
• Honeywell International Inc.
• Hydropoint Data Systems Inc.
• IBM Corporation
• Itron Inc.
• Landis+Gyr Corporation
• Neptune Technology Group
• Oracle Corporation
• Schneider Electric SE
• Siemens AG
• Suez Water Technologies & Solutions
• TaKaDu
• Trimble Inc.
• Xenius Corporation
• Ayyeka Services
• KETOS
• Elster Group SE
• Global Water Management LLC
• i2O Water Ltd
• Other Key Players

Recent Developments:

• In July 2022, TaKaDu and TasWater joined forces to deploy TaKaDu’s Central Event Management (CEM), analytics software for leak detection. Now TasWater can take advantage of TakaDu’s CEM analytics program which uses statistical techniques and machine-learning algorithms to detect leaks and bursts in real time.
• In April 2022, Suez Group launched AssetAdvanced, an online decision-support platform. This will give water service and sanitation managers access to in-depth knowledge, as well as reduce their vulnerability to infrastructure failure.
• In March 2022, Ecopetrol SA, Accenture, and Amazon Web Services (AWS) today announced the launch of an innovative water intelligence and management solution designed to boost sustainability and operational efficiency in energy companies.

Report Scope: