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Smart Water Management Market Trends – Rising need to replace the aging water infrastructure

VANCOUVER, BRITISH COLUMBIA, CANADA, May 8, 2023 /EINPresswire.com/ -- The global smart water management market size is expected to reach USD 18.90 Billion in 2028 and register a steady CAGR over the forecast period, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to increasing initiatives to deploy sustainable water management solutions due to rising demand for fresh and safe water for consumption and other household and commercial purposes. Decrease the availability of affordable, safe, and clean water and more efficient sewerage treatment and processing services is driving rising utilization of smart water management solutions in various developing countries. Increasing deployment of Internet of Things (IoT) technologies to monitor environment, water resources, and infrastructure is boosting growth of the smart water management market and demand for associated solutions. Increasing availability of high-performance and low-cost IoT sensors are contributing to rising demand for smart water management solutions. Smart water management solutions offer various benefits such as improving water conservation, optimizing repair and replacement of ageing infrastructure, improving response to climate change and extreme weather events, and improving public health, water quality, and environmental protection.

However, lack of interoperability could restrain revenue growth of the market. Utilities have relied on a mix of proprietary standard and non-standard technology in order to deploy smart water management. It is difficult to connect various systems together or update the current networks built on proprietary technology because of the incompatibility. There is also a chance for vendor lock-in, pricey upgrades, and lack of flexibility. High data collection and transmission frequency requires a lot of resources, which could also hamper revenue growth of the market. Increased data collection and transfer frequencies provide more current information and greater flexibility, but they often come with drawbacks such as increased energy consumption and shorter battery life. It also raises need for greater storage and processing power to handle the rising volume of data.

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Moreover, surge in participation in shooting sports is also positively impacting market growth. Rising demand for high precision, lightweight, and compact weapons at these events is expected to continue to propel growth of the market going ahead. Increase in demand for weapons for self-defense and upsurge in political instability is various countries is further fueling growth of the market. Trade of Smart Water Management are playing a crucial role in economies of countries with civil wear situations, and where need for increasing security personnel is crucial.

Some players analyzed in the report are:

ABB,

IBM,

Honeywell Elster,

Siemens,

Itron,

Schneider Electric,

SUEZ,

Oracle,

Landis+Gyr,

SENSUS

There are several compelling reasons to purchase a Smart Water Management Report:

Comprehensive Market Insights: A Smart Water Management Report may provide in-depth market insights and analysis on the industry's present state and future prospects. This can include information such as market size, growth rate, main drivers, and difficulties.

Competitive Analysis: The study may provide useful information on the market's top players, their strategies, and their market share. This can assist firms in identifying development prospects as well as potential challenges to their market position.

technology developments: Smart Water Management Reports can also provide insights into the industry's most recent technology developments. This can include details on new software and hardware solutions, IoT, and other cutting-edge technologies that are reshaping the sector.

Regulatory Environment: The study can provide insights into the industry's regulatory environment. This can contain information on government policies, standards, and laws, as well as anticipated industry developments.

Investment possibilities: Smart Water Management Reports can assist investors in identifying prospective industry investment possibilities. This can contain information on new markets, upcoming technologies, and major players who are expected to drive industry growth.

To learn more details about the Global Smart Water Management Market report, visit @ https://www.emergenresearch.com/industry-report/smart-water-management-market

Some Significant Report Highlights:

The water meter segment is expected to account for largest revenue share in the global market during the forecast period. The Internet of Things (IoT)-enabled smart water meters enable two-way communication between water providers and end users. This implies that the water provider can keep track of any house's use that is linked to its network in real time. As a result, there is no longer a need to send someone to take onsite meter readings each month in order to bill end users. Furthermore, the IoT system can automatically compute the bill and deliver it to the customers each month depending on how much water a residence consumes each day. Utility companies could reduce expenses and operational complexity associated with manual billing processes due to dynamic billing, which is also expected to drive revenue growth of the segment.

On 8 November 2021, ABB announced a partnership with the Danish water environment expert DHI Group to create a set of digital technologies that will help water and wastewater utilities make decisions more quickly and accurately. These products will enable customers in this market to exert better control over water availability and raise plant operational effectiveness from the viewpoints of both process and energy optimization. According to a press statement from ABB, the new set of digital solutions to optimize water use and availability was formally launched in 2022.

The Key to Efficient and Sustainable Water Management is Smart Water Management.

Water is one of our planet's most valuable resources. It is required for life, agriculture, and industrial operations. However, rising population and urbanization have put tremendous strain on our water resources. The challenge is to handle this valuable resource in an efficient, sustainable, and intelligent manner. Smart Water Management can help with this.

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In addition, the analytical data are presented in a well-organized format in the form of charts, tables, graphs, figures, and diagrams in the report. This makes it easier for readers to comprehend the market scenario in a beneficial way. In addition, the report aims to provide a forward-looking perspective and an instructive conclusion to assist the reader in making profitable business decisions. The report concludes with a comprehensive SWOT and Porter’s Five Forces analysis of the segments anticipated to dominate the market, regional bifurcation, estimated market size and share, and more.

On the basis of type, the market is segmented into

Offering Outlook (Revenue, USD Billion; 2018–2028)
Service

Professional Services

Managed Services

Solution

Distribution Network Monitoring

Meter Data Management

Asset Management

Supervisory Control and Data Acquisition (SCADA)

Analytics

Smart Irrigation Management

Others

Water Meters

AMI Meters

AMR Meters

End-use Outlook (Revenue, USD Billion; 2018–2028)
Residential

Commercial & Industrial
The report further divides the Smart Water Management market into key segments such as types, applications, end-user industries, technologies, and key regions of the market. The report also sheds light on the segment and region exhibiting promising growth in the Smart Water Management market.

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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