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Smart Water Management Market - Growth, Trends, and Forecast (2020 - 2025)

Smart Water Management Market - Growth, Trends, and Forecast (2020 - 2025)

  • March 2020
  • 144 pages
  • ID: 5881460
  • Format: PDF
  • Mordor Intelligence LLP


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The global smart water management market (henceforth, referred to as the market studied) was valued at USD 7.14 billion in 2019, and it is expected to reach USD 13.81 billion by 2025, registering a CAGR of 12.31%, during the period of 2020-2025. 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 worldwide demand for water, due to the growing population, increasing urbanization, and the need to address the cost implications from maintaining aging infrastructure are among the major driving factors for growth in the smart water management market.
- Similarly, with the proliferation of IoT, smart cities across various regions are also expected to 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.
- Owing to the global demand, the need to address the operational issues of the water management becomes crucial. Consequently, the adoption of smart water management technologies is expected to gain traction. The smart water management ecosystem consists of sensors, smart meters, communication infrastructure, and supporting software to enable two-way communication, thus, allowing users to gather actionable information and take informed decisions, pertaining to optimized water distribution and usage.
- Whereas, the market comprises technology giants, like IBM, Schneider Electric, Hitachi Ltd, Utility Systems, SUEZ Group, etc., who provide smart water management solutions with advanced cloud-based monitoring technologies, smart meter manufacturers (Honeywell, Sensus, etc.), and software providers, like Esri, i20Water Solutions, etc.

Key Market Trends
Residential Vertical to record a Huge Penetration

- Residential usage of water accounts for a large portion of water consumption across the world, as water is considered to be one of the luxuries that need to be conserved efficiently. Therefore, technology also plays a vital role to make people liable for misuse of water.
- Consumers are upgrading their residential places, by adopting smart water management software and hardware. This adoption rate is rapidly proliferating, as software and hardware are becoming cheaper and affordable.
- For instance, WEGoT, a utility solution provider, provides sensor-based Internet of Things (IoT) devices and a software platform, VenAqua, which is helping in reducing the demand for water by more than 50%, especially in residential buildings, mainly by tracking real-time flow. The granular data collected from various installations across residential buildings are analyzed, and the insights are shared with the end-users on a mobile app.
- Digitization, along with the adoption of connected technologies, is impacting all applications of smart water management solutions, by revolutionizing the way smart water management systems interact with the surroundings in the residential sector.

Asia Pacific to record the Fastest Growth Rate

- Asia-Pacific region is home to more than 2.1 billion urban residents, with over two-thirds estimated to live in cities by 2050. The region comprises of countries with substantial Non-revenue water (NRW) losses like India (with almost 60% of revenue losses from the total water distributed) and Singapore, among others. Such figures signify the need for water management and indicate the potential for market growth in the region.
- The rising number of smart cities in the region is expected to create substantial business opportunities for the smart water management solution providers. Accounting for about half a million dollars, India is planning to build over 100 smart cities by 2022, which is expected to impact the total population of almost 1 billion. Also, Singapore had spent over USD 1 billion in smart city initiatives during fiscal 2019. Such smart city initiatives in the region are expected to provide huge scope for the adoption of advanced metering infrastructure.
- Significant initiatives to develop smart water systems are evident in the Asian areas, like Malaysia, Vietnam, and Thailand, among others, indicating the scope for the growth of the market. Japan, which has relatively lower NRW (US-24%), has been investing in water management infrastructure. Japan, with the aid of its Japan Water Research Center (JWRC), has planned to achieve a 100% smart water meter rollout by 2025.
- Countries, such as India, are witnessing increased investments in the start-ups that are operating in the market. In October 2019, WEGoT, an IoT-based start-up, announced that it received an investment of USD 2 million in seed funding. The company offers integrated water management solutions in real-time, to prevent and address water crisis.

Competitive Landscape
The smart water management market is fragmented due to the presence of a large number of companies. Some of the major companies include IBM, GE, Siemens, among others. Some key recent developments in the market include:
- September 2019 - IBM applied big data technology to improve water security in northern Kenya. IBM Research-Africa developed a cloud-hosted water management platform that connects a network of sensors for monitoring water levels and groundwater extraction rates in boreholes.
- September 2019 - Siemens and Grundfos signed a digital partnership framework for their strategic cooperation between the two companies. The new partnership focuses on the complementary products and solutions provided by both parties in three main areas: water and wastewater applications, industrial automation, and building technology.

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