The Smart Water Management Market size is expected to grow from USD 16.6 billion in 2023 to USD 28.2 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 11.3% during the forecast period. The rising challenge of water scarcity and a growing need for effective water resource management will drive the smart water management market.
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The professional services segment is expected to lead the Smart water management market during the forecast period.
The professional services segment in the SWM market comprises planning, designing, and deploying systems and solutions to water utilities. The growth of the professional services segment is mainly governed by the complexity of operations and the increasing deployment of smart solutions in the water industry.
Support and maintenance segment is expected to hold the largest market share during the forecast period
Support and maintenance refer to post-sales services offered to customers for monitoring the usage of assets and solutions to ensure maximum benefits. The need to ensure regular monitoring of systems and proactive addressing of issues in performance will drive the market.
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Unique Features in the Smart Water Management Market:
The market’s strong dependence on data-driven decision-making is one of its distinguishing characteristics. Real-time data on water quality, consumption trends, and infrastructure performance are gathered and analysed using cutting-edge sensors and IoT devices. This data-driven strategy improves water management’s accuracy and effectiveness and enables prompt solutions to emerging problems.
Another crucial aspect is the ability to monitor and operate things remotely. Operators can remotely modify water flow, pressure, and distribution using smart water management systems based on real-time data insights. This increases the responsiveness of water utilities while also lowering the need for manual intervention and physical inspections, which saves money and enhances operational effectiveness.
Smart water management technologies also focus heavily on leak detection and prevention. To quickly find leaks and irregularities in the water distribution network, these systems use sophisticated algorithms and sensors. Early leak identification, preventative infrastructure maintenance, and water resource conservation all benefit from autonomous supply shutdown and water loss mitigation.
The Smart Water Management Market also requires accurate demand forecasting as a key component. These systems can precisely estimate patterns in water demand by combining historical data with predictive analytics. In doing so, utilities are better equipped to allocate resources efficiently, prepare for peak usage periods, and guarantee a steady supply of water even during times of high demand or emergencies.
Notable features of these systems are user interaction and openness. Through mobile apps or web portals, consumers can obtain real-time water usage statistics, enabling them to monitor and manage their consumption. This encourages people to think about how they might lessen their water impact while also promoting water conservation.
Major Highlights of the Smart Water Management Market:
One of its primary selling features is its reliance on data-driven decision-making. Using cutting-edge sensors and IoT devices, real-time data on water quality, consumer behaviour, and infrastructure performance are collected and processed. This data-driven strategy enhances the accuracy and efficiency of water management by allowing for earlier solutions to expected problems and improved resource allocation.
Remote monitoring and control is another important aspect. Based on real-time data insights, smart water management systems enable operators to remotely change water flow, pressure, and distribution. This not only increases water utilities’ response, but also lowers the need for physical inspections and human interventions, resulting in significant cost savings and improved operating efficiency.
Water quality and regulatory compliance are also emphasised. Water quality indicators are regularly monitored by advanced sensors, guaranteeing that the water delivered to consumers fulfils high quality and safety criteria. This proactive approach assists utilities in avoiding compliance concerns while also maintaining public health.
Another distinguishing feature is integration with smart city programmes. Smart water management is frequently integrated into larger smart city designs, allowing for holistic urban planning in which water management is linked to other critical systems such as transportation, electricity, and waste management. This collaboration encourages efficient resource allocation and urban resilience.
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Top Key Companies in the Smart Water Management Market:
The major vendors covered in the innovative water management include Siemens (Germany), IBM (US), ABB (Switzerland), Honeywell Elster (US), Schneider Electric (France), Itron (US), SUEZ ( France), Oracle (US), Landis+Gyr (Switzerland), Trimble Water (US), Xylem (US), Kamstrup (Denmark), HydroPoint (US), i2O (UK), Xenius (India), Neptune Technology (US), TaKaDu (Israel), Badger Meter (US), AquamatiX (UK), Lishtot (Israel), CityTaps ( France), FREDsense (Canada), Fracta (US), Smart Energy Water (US), Ayyeka ((US), Ketos (US). These players have adopted various growth strategies, such as partnerships, business expansions, agreements, and collaborations, new product launches to expand their presence in the smart water management market.
Schneider Electric is a global leader in software solutions for the water industry. The company was founded in 1836 and is headquartered in Rueil-Malmaison, France. The company specializes in power management, process management, security management, industrial software design, simulation and optimization, industrial automation, control and safety systems, and instrumentation. It is in North America, Europe, Africa, and Asia. Schneider Electric helps water utilities with advanced solutions that collect and analyze real-time data for operations, maintenance, billing, and customer service. In the SWM market, it offers EcoStruxure as a service. The EcoStruxure service, it provides waste treatment plants, water treatment plants, water networks, and wastewater networks. Moreover, the company offers a partnership program to improve its global presence, domain expertise, and product and solution knowledge.
Siemens offers electrification, automation, digitalization, innovation, technology, engineering, and manufacturing solutions. In the SWM market, Siemens offers water treatment, wastewater treatment, water supply networks, and water transport solutions with new technologies and a comprehensive service portfolio. To provide these solutions, Siemens offers the PIA Life Cycle Portal for selection, planning, commissioning, and maintenance tools for process instrumentation and data analytics. Siemens also offers the Distributed Control System SIMATIC PCS 7, with components, such as the SIMATIC PCS 7 Operator System, Plant Device Management system for condition monitoring and diagnostics, simulation platform SIMIT for enabling tests of automation applications and providing a realistic training environment for operators, SIWA leak detection and SIWA LeakControl for leak detection, and XHQ Operations Intelligence platform for displaying operating sequences in the water industry in real-time.
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