Smart Water Management Global Market Report 2024

Smart water management involves the integration of systems and methods aimed at monitoring, controlling, and regulating the utilization and quality of water resources, along with the maintenance of interconnected equipment.

The primary offerings in smart water management are categorized into water meters, solutions, and services. Smart water management solutions encompass enterprise asset management, network monitoring, advanced pressure management, supervisory control and data acquisition (SCADA), advanced analytics, and other related technologies. The various products associated with smart water management include advanced water meters, meter reading technology, cellular networks, and they find applications in diverse sectors such as residential, commercial, and industrial settings.

The smart water management market research report is one of a series of new reports that provides smart water management statistics, including smart water management industry, global smart water management market size, regional shares, competitors with smart water management market share, detailed smart water management market segments, market trends and opportunities, and any further data you may need to thrive in the smart water management industry. This smart water management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The smart toys market size has grown exponentially in recent years. It will grow from $17.32 billion in 2023 to $20.97 billion in 2024 at a compound annual growth rate (CAGR) of 21.1%. The growth observed during the historical period can be attributed to several factors, including a shift in consumer preferences towards personalized experiences, the expansion of e-commerce companies, the widespread use of mobile devices, the increased popularity of digital entertainment and gaming, and heightened consumer awareness and acceptance of these trends.

The smart toys market size is expected to see exponential growth in the next few years. It will grow to $45.49 billion in 2028 at a compound annual growth rate (CAGR) of 21.4%. The anticipated growth in the forecast period can be attributed to the rise in edutainment, the increasing popularity of connected toys, parental empowerment, a growing demand for app-enabled mechanical toys, and an increasing desire for interactive and engaging toys. Major trends expected in the forecast period include the integration of augmented reality (AR) and virtual reality (VR) in toys, the adoption of voice and gesture control, the promotion of interconnected play experiences, the introduction of AI-powered playmates, and the expansion of 3D printing technology and proximity sensors in toys.

The anticipated increase in demand for clean water, driven by the expanding global population, is expected to be a key factor propelling the growth of the smart water management market. With a growing population, there will be a heightened need for water across domestic, industrial, agricultural, and municipal sectors. The significance of clean water for health, food security, and nutrition has become particularly apparent during the COVID-19 pandemic. Smart water management systems are poised to play a crucial role in responding to these challenges by identifying vulnerable areas, such as food value chains and critical locations, and designing targeted interventions. For instance, according to a report by IntechOpen, the world's population is projected to reach 8.6 billion by 2030 and 9.8 billion by 2050. The UN World Water Development Report highlights that global water demand is expected to grow by 1% annually, resulting in a 20 to 30% increase by the end of 2050, driven by rising demand from domestic and industrial sectors.

Growing concerns over water scarcity are anticipated to further boost the smart water management market. Water scarcity, characterized by insufficient fresh, clean water to meet regional needs, has become a significant global issue. The awareness of water scarcity challenges is prompting various entities, including governments, municipalities, industries, and individuals, to prioritize water conservation efforts. This heightened awareness is driving the adoption of smart water management solutions to enhance water use efficiency and sustainability. According to a report by the United Nations Educational, Scientific and Cultural Organization (UNESCO), as of 2023, around 26% of the world's population, or approximately 2 billion people, lack access to safe drinking water. Additionally, 46% of the global population, equating to 3.6 billion people, lack proper access to well-managed sanitation facilities. Projections indicate that urban areas facing water scarcity may double by 2050, affecting 1.7 to 2.4 billion people.

Strategic collaborations among companies are shaping the landscape of the smart water management market. Companies within this market are entering into partnerships to develop advanced solutions for their customers. For example, Grundfos, a Denmark-based provider of pumps and water solutions, partnered with Baseform, a Portugal-based technology leader, to provide digital services to water utilities globally. This collaboration expanded Grundfos' global value offering with Grundfos Utility Analytics, an AI and machine-learning utility management solution provided by Baseform.

Major players in the smart water management market are actively developing innovative products, such as smart wastewater solutions, to cater to larger customer bases, drive increased sales, and boost revenue. Smart wastewater solutions involve advanced technological systems for the management, monitoring, and optimization of wastewater and sewage systems. ABB Ltd., a Switzerland-based provider of automation technologies, launched the ABB Ability Smart Solution for Wastewater in February 2022. This digital solution employs advanced process control and digital twin technology for predictive operational planning, enabling wastewater treatment plants to achieve optimal operational efficiency by addressing process fluctuations and ensuring stable, continuous monitoring and automation.

In June 2021, Mueller Water Products, Inc., a US-based manufacturer of water infrastructure products, acquired I20 Water Solutions Ltd for $20 million. This acquisition enhanced Mueller's software solutions through i2O Water's intelligent network solutions. Mueller's digital services platform, SentryxTM, and existing technology-enabled products were strengthened by i2O's offerings, providing comprehensive solutions for metering, leak detection, pipe condition assessment, and water quality. i2O Water Solutions Ltd is a UK-based company specializing in smart pressure water management solutions.

Major companies operating in the smart water management market include Honeywell International Inc., Siemens Aktiengesellschaft, ABB Ltd., International Business Machines Corporation., Itron Inc., Schneider Electric SE, SUEZ Group SA, Sensus USA Inc., Trimble Inc., Elentec Co. Ltd., HydroPoint Data Systems Inc., TaKaDu Ltd., AquamatiX Limited, Nalco Water India Limited, Xenius GmbH, Xylem Inc., Badger Meter Inc., A. O. Smith Corporation, Aclara Technologies LLC, IDEX Corporation, Mueller Water Products Inc., Kamstrup A/S, Elster Group SE, Landis+Gyr Group AG, Echologics Engineering Inc., Neptune Technology Group Inc., Innovyze Inc., Aquatic Informatics Inc., Syrinix Ltd., Zenner International GmbH & Co. KG, WaterSmart Software Inc., Utilis Corp.

North America was the largest region in the smart water management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart water management market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the smart water management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The smart water management market includes revenues earned by providing smart water management systems, pressure management, better leakage techniques for water networks, smart network operations and water cycle maintenance, smart water meter technologies, and smart water quality monitoring. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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