PUNE, MAHARASHTRA, INDIA, February 7, 2020 /EINPresswire.com/ --  

Smart Water Management Market - 2018-2026

Smart Water Management Industry Overview:

Smart water management is a way to collect, share, and analyze data from water equipment and water networks. It provides a more resilient and efficient water supply system, which reduces cost and improves sustainability. Smart water management is gaining popularity across the globe, owing to water scarcity and the increasing need for water conservation. Smart water management solution providers are offering smart water technologies to help users in managing the chronic shortage of water.

Smart water management has been primarily adopted by chemical and manufacturing industries to reduce water wastage and for the efficient use of their resources. Smart water management technology helps various organizations in identifying the network issues, enhancing customer engagement in water conservation, and most prominently, in reducing non-revenue water losses due to the damage to infrastructure.

There will be more than two-thirds of people who will be living in water scarce areas by 2025 according to Xylem. By 2050, the water demand will increase by 55% compared to the 2015 levels due to the destruction of water resources by humans, due to contamination.

The major drivers for the smart water management market are technological advancement, growing population, and decrease in water resources globally. The increase in supervisory control and data acquisition are also major drivers for the market.
However, the major restraints to the market include high investments required initially and a very low and slow rate of return. Moreover, the lack of expertise to implement these technologies across the globe and the slow rate of adoption is also a challenge for the market.
Nevertheless, the proliferation of IoT and smart cities across various regions promote the growth of the market studied. Technological advancements pertaining to smart meters and their integration with communication solutions (SCADA, GIS, etc.,) have transformed water management, to address the challenges faced by water utilities, residents, and industries, in terms of erroneous billing and water management.

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Top Key Players Of Smart Water Management Industry:

Sensus
Itron
Elster (Honeywell)
Diehl Stiftung & Co. KG
Landis+Gyr
Roper Industries(Neptune)
Siemens
Kamstrup
Jiangxisanchuan
Suntront Tech Co., Ltd
Badger Meter Inc
Iskraemeco
Arad Group(Master Meter)
Huizhong Instrumentation Co., Ltd
Zenner
Ningbo Water Meter

Scope of the Report

Smart water management is a technology used for collecting, sharing, and analyzing data from water equipment and water networks. It is used by water managers to find leaks, lower energy usage, conserve water, predict equipment failure, and ensure regulatory compliance.

The global smart water management system market is expected to reach US$ 29.8 billion by 2023, growing with a high CAGR during the forecast period. The market is witnessing growth due to the growing scarcity of water, coupled with the increasing demand for water conservation across the globe. Various organizations and governments are taking initiatives to meet the rising demand for water globally. In addition to these, regulatory bodies are implementing smart water technologies for the efficient management of distribution channels, for updating water management solutions, decreasing maintenance cost, and for reducing non-revenue losses of water due to thefts and water leakage. Such factors are further expected to drive the smart water management market growth in the coming years.
This Smart Water Management market report covers an in-depth analysis of the market including statistical and subjective data points, along with the key market drivers and opportunities & restraints that have positive or negative effects on the overall global market. An exclusive coverage has been provided for market drivers and challenges & opportunities for a country-level market in the respective regional segments. The report comprises a competitive analysis of the key players functioning in the segments market and covers in-depth data related to the competitive landscape of the market and the recent strategies & products that will assist or affect the market in the near future.

The smart water management market has been segmented based on the product type into the cellular network, advanced water meters, and meter read technology. Advanced water meters are further divided into Advanced Metering Infrastructure (AMI) and Automated Metering Reading (AMR). Advanced Metering Infrastructure (AMI) is expected to dominate the market in the year 2018, due to the operational benefits it offers such as accuracy in meter reading, detection of energy theft, and response to power outages, along with security and financial advantages.

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Key Market Trends | Growth | Share | Sale | Revenue | Manufactures | Technology Component

Supervisory Control and Data Acquisition (SCADA) to Record a Huge Penetration

The remote operability through a distributed network, reduced operational costs, increased water savings are the prime promoters of SCADA adoption.

Moreover, by 2050 it is estimated that 70% of the population will live in urban areas and the historical lack of investment in water management is putting the entire water networks in immense pressure. Owing to this, SCADA is being increasingly used in water control and management.

Furthermore, SCADA adoption is set to penetrate with the growth in smart cities and smart water projects worldwide. In Europe, 100 smart cities have a great scope for the adoption of SCADA for solving the problems of water management. London had deployed SCADA for its Thames water management which saw a 13% decrease in water consumption.

Additionally, from 2018 to 2024 the governments worldwide will invest in USD 14 billion for smart water projects, which is further expected to augment the market growth.

Reduction in operating costs is accelerating the penetration of SCADA in water industries
Water utilities are under pressure to provide good quality water, but are struggling with their outdated infrastructure. The SCADA solution helps in reducing energy costs in pumping water through the distribution network, streamlining water utility operations, and in enhancing asset management for water and wastewater utility infrastructure. The option of remote access in SCADA solutions enables utilities to access water usage data even from smartphones, laptops, and tablets.

Europe to be one of the Early Adopters of Smart Water Management

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