Global Industrial market was valued at US$ 8.83 Billion in 2016, according to report Global Smart Water Management Market, by Advanced Water Meters (Water Read Technology, Meter Type), by Service (Managed Services, Professional Services), by Solution (Advanced Analytics, Advanced Pressure Management, Network Monitoring, Residential Water Efficiency, Others), published by Coherent Market Insights. The Global Smart Water Management Market is expected to register a CAGR of 20.5% over the forecast period (2017-2025) to reach US$ 46.65 billion by 2025.
The major drivers that are responsible for the growth of smart water management market are the innovation in the technology of water management. Technologies such as geographical information system (GIS), web-enable sensors and communication networks are used to obtain the information about the weather, soil moisture level, temperature and many other. Along with this smart metering technology helps business, water companies and individuals with information in real time about their own water use. This also helps to locate leakages, offering better control over water demand and creating awareness about the usage of water.
Some of the major factors that affect the growth of smart water management market include high initial investment cost, lack of expertise and low rate of returns.
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Browse 250 market data tables* and 90 figures* on "Smart Water Management” - Global forecast to 2025.
Key Trends and Analysis of Smart Water Management Market:
On the basis of solution, SCADA Systems for Water and Wastewater Utilities segment held a dominant position in the global smart water management market. Supervisory Control and Data Acquisition (SCADA) for water and wastewater system is the emerging software technology which provides monitoring and distribution and collation and treatment facilities. Furthermore, it supervises the operations and manages the information generated throughout the water management process.
Key Takeaways of the Market:
Some of the major players in the smart water management market are General Electric, ABB Group, Itron, Schneider Electric, International Business Machines (IBM) Corporation, Sensus, Elster Group Se, and Siemens Ag.
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