Global smart water management market was valued at US$ 18,397.2 Million in 2021 and is expected to surpass US$ 71,511.9 Million by 2030, registering a CAGR of 17% during the forecast period (2022-2030), according to the Global Smart Water Management Market Report, by Component (Hardware (AMR (Automatic Meter Reading), AMI (Advanced metering Infrastructure)), and Others) Solutions, and Service) and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa), published by Coherent Market Insights.

Many countries across the world are focused on sustainable water management policies. Since climate change is leading to adverse effects such as rising sea levels and the risk of flooding, it has become vital to manage water supply efficiently. For instance, since the 1960s, Singapore’s Public Utilities Board (PUB) has faced scarce water sources, polluted rivers, and high rate of non-revenue water (NRW) to develop water supply strategy. Moreover, in 2013, the British Columbia government developed an irrigation scheduling calculator for agriculture irrigators and landscapes to improve irrigation management by using real-time climate data. Therefore, these factors are expected to drive growth of the global smart water management market over the forecast period.

Market Opportunity

Rising smart city initiatives worldwide can present lucrative growth opportunities. Governments of many countries around the world are implementing smart city initiatives. As a result of this, the demand for smart water management is increasing. For instance, in June 2015, the Government of India launched ‘100 Smart Cities Mission’, allocating a fund of US$ 14 million. Thus, such factors can present lucrative growth opportunities in the near future.

Key Developments

  1. On June 8, 2022, Evoqua Water Technologies, a company which provides critical water treatment solutions announced the opening of a new manufacturing facility for manufacturing Evoqua's Ionpure Continuous Electrodeionization (CEDI) products in Singapore to support business in the Asia Pacific region.
  2. In January 2021, Badger Meter announced that it acquired Analytical Technology, Inc., which specializes in the design, manufacture, and distribution of water quality instruments based on electrochemical and optical sensors. With this acquisition, Badger Meter now has a completely comprehensive, robust, and scalable water quality monitoring products that deliver real time data to municipal water utilities and industrial users.

Global Smart Water Management Market - Impact of Coronavirus (Covid-19) Pandemic

The COVID-19 epidemic had a negative impact on several economies all around the world. Companies were denied physical access to operate with existing resources due to quarantine and lockdowns. As a result, the commercial sector, which comprised of private enterprises and industries, reduced their water consumption and postponed investments in smart water management initiatives. Governments of the countries around the world prioritized residential water demands over industrial needs during the pandemic, as the health of people was priority during the pandemic.

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https://www.coherentmarketinsights.com/market-insight/smart-water-management-market-805

Browse 150 market data tables* and 90 figures* on “Global Smart Water Management Market- Global forecast to 2030”

Key Trends and Analysis of the Global Smart Water Management Market:

  • Among regions, North America is expected to witness significant growth in the global smart water management market during the forecast period. This is owing to the rapid replacement of aging water infrastructure across the region. Furthermore, rising urbanization, industrialization, and rising population are expected to boost the North America smart water management market growth in the near future..
  • Asia Pacific is expected to register a robust growth rate in the global smart water management market during the forecast period. This is owing to rising smart city projects across emerging economies such as India and China. Furthermore, increasing urban population is expected to propel the regional market growth in the near future.
  • Major players operating in the global printed electronics market include IBM Corporation, TaKaDu Ltd., Arad Metering Technologies, Sensus USA Inc., i2O Water Ltd, ABB Ltd, ET Water Systems, LLC, Schneider Electric SA, General Electric Company, Evoqua Water Technologies (Siemens), Emerson Electric Corporation, Itron, Inc., Trimble Inc., and Badger Meter, Inc..

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