Digital Water Solution Global Market Report 2024

The digital water solution market size has grown rapidly in recent years. It will grow from $0.96 billion in 2023 to $1.09 billion in 2024 at a compound annual growth rate (CAGR) of 14.4%. The growth observed during the historical period can be attributed to several factors, including the increased volume of digital data, heightened concerns over data security, a global increase in demand for data storage, the rise of biotechnology companies, and government funding for DNA research.

The digital water solution market size is expected to see rapid growth in the next few years. It will grow to $1.85 billion in 2028 at a compound annual growth rate (CAGR) of 14.1%. The anticipated growth in the upcoming period can be attributed to several factors, including increasing data generation across various industries, integration with cloud storage solutions, rising adoption of data storage technologies in healthcare, exploration of archival storage solutions, and broader industry acceptance of advanced storage systems. Major trends expected in the forecast period include the development of DNA data cards for personal storage, the utilization of biological cryptography for enhanced security measures, ongoing product innovations and technology launches in the storage sector, as well as the application of storage solutions in edge computing environments.

The increasing need to manage limited water resources is expected to drive the growth of the digital water solutions market in the future. Limited water resources occur when the demand for water exceeds its availability. Digital solutions play a crucial role in optimizing water distribution and reducing wastage through automated water infrastructure, including smart irrigation systems and leak detection technologies. For example, the United Nations Children's Fund estimates that by 2030, severe water scarcity could displace approximately 700 million people, and by 2040, one in four children globally may live in areas with extremely high water stress. Additionally, according to the United Nations Educational, Scientific and Cultural Organization, about 2 billion people lack access to safe drinking water, and the urban population facing water scarcity is expected to rise to 2.4 billion by 2050. Hence, the increasing demand for managing scarce water resources is fueling the growth of the digital water solutions market.

Leading companies in the digital water solutions industry are prioritizing the integration of innovative technologies into water treatment solutions to better address market needs. For instance, AquiSense, a US-based provider of water treatment and disinfection solutions, introduced the PearlAqua Deca 30C water disinfection system in April 2023. This system is suitable for various applications, including commercial and industrial water purification, food and beverage processing, and home use. Using UV-C LED technology, the PearlAqua Deca 30C achieves a 99.99% pathogen elimination rate at a flow rate of four gallons per minute (15 liters per minute). It offers features such as automatic on-and-off switching, programmable alarm outputs, and dynamic power regulation.

In December 2023, Siemens, a Germany-based automation company, acquired BuntPlanet to enhance its AI portfolio and expand its capabilities in the water sector. BuntPlanet, based in Spain, specializes in providing artificial intelligence and digital solutions for water management. This strategic acquisition strengthens Siemens' position in the market and creates growth opportunities in the water management sector.

Major companies operating in the digital water solution market report are General Electric Company, The International Business Machines Corporation, Schneider Electric SE, SAP SE, ABB Ltd., Jacobs Solutions Inc., Minsait ACS, Grundfos, Itron Inc., Mueller Water Products Inc., Bentley Systems, Royal Haskoning DHV, Kamstrup, PowerPlan Inc., Copperleaf Technologies Inc., Space-Time Insight Inc., Aqueduct, Innovyze, Analytical Technology, Idrica, Assetic, TaKaDu, Intelliflux Controls, Atonix Digital LLC, Plutoshift.

North America was the largest region in the digital water solutions market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital water solution market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the digital water solution market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The digital water solution market consists of revenues earned by entities by providing services such as smart metering and data collection, remote sensing and monitoring, IoT integration, data analytics and interpretation, and predictive modeling. The market value includes the value of related goods sold by the service provider or included within the service offering. The digital water solution market also includes sales of smart water meters, remote sensing devices, IoT devices and sensors, and automation and control systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

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).

Digital water solutions involve the application of advanced digital technologies to monitor, manage, and optimize various processes and resources related to water. These solutions aim to address challenges in water management such as water scarcity, pollution, aging infrastructure, and inefficient resource utilization.

The primary components of digital water solutions include hardware, software, and services. The hardware segment comprises physical devices and equipment utilized for monitoring, managing, and optimizing water-related processes. Technologies within this segment include metering and customer management, network management, work and asset management, plant management, and information management, catering to tier I, tier II, and tier III applications.

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

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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