BANGALORE, India, Nov. 17, 2020
BANGALORE, India, Nov. 17, 2020 /PRNewswire/ -- A new Smart Water Management Market Research Report published on Valuates Reports in Industrial Materials & Equipment Category. The report contains segmentation Based on Type (AMR Meters, AMI Meters, Others), Based on Application (Residential Use, Commercial Use, Industrial Use). It also covers Global & Regional Opportunity Analysis and Industry Forecast to 2026.
In 2019, the global Smart Water Management market size was USD 2494.3 Million, and it is expected to reach USD 5739.3 Million by the end of 2026, with a CAGR of 12.5% during 2021-2026.
Major factors driving the smart water management market size are rising water scarcity and the need for water conservation, aging water infrastructure, regulatory compliances, and implementation of stringent environmental standards.
The report offers a comprehensive analysis and accurate statistics on revenue by the players for the period 2015-2020. It also offers detailed analysis supported by reliable statistics on sales and revenue by players for 2015-2020. Details included are company description, major business, Smart Water Management product introduction, recent developments, Smart Water Management Sales by region, type, application and by sales channel.
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TRENDS INFLUENCING THE SMART WATER MANAGEMENT MARKET SIZE
Intelligent and effective management of water is expected to be a key problem in recent times. Water stress, a rising situation due to the demand, pollution, and unequal resources is expected to accelerate the growth of the smart water management market size.
It is expected that the development of the IoT, smart cities across different locations will fuel the smart water management market size. Smart meter-related technical developments and their incorporation with communication solutions such as SCADA and GIS have transformed water management systems to overcome the challenges faced by erroneous billing and water management by water providers, people, and industries.
Expensive initial investment requirements and low return rates are the main constraints faced by smart water management. In addition, the demand for smart water management is slowly growing due to the lack of knowledge and talent supply. However, smart water management is entitled to the vast potential for substantial financial savings related to water utilities.
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SMART WATER MANAGEMENT MARKET SHARE ANALYSIS
Based on the application, the commercial segment is expected to hold the largest market size in 2019. A rise in demand for quality water services with ongoing water supply shortage and water-based costs is expected to drive the market.
Based on the region, North America is expected to hold the largest market share. This dominance of North America is attributed to the adoption of advanced meter infrastructure technology by various organizations.
The APAC region is undergoing rapid market growth. Many Asian countries, such as China, Japan, and India, are leveraging information-intensive technologies to meet the rising demand for the water utility sector. APAC is, therefore, expected to display promising opportunities to deploy smart solutions for water management.
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TOP COMPANIES IN THE SMART WATER MANAGEMENT MARKET
The industry is very competitive due to the presence of some dominant smart water management device manufacturers and service providers in the market. To battle with this competition and enhance their profit, market share, and image, companies opt for various business strategies to expand their market share.
Some of the top companies in the smart water management market include,
SMART WATER MANAGEMENT BREAKDOWN DATA BY TYPE
SMART WATER MANAGEMENT BREAKDOWN DATA BY APPLICATION
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SIMILAR REPORTS :
● The Global Smart Water Metering Market size is expected to grow from USD 6,073.48 Million in 2019 to USD 11,125.94 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 10.61%.
Major factors driving the growth of smart water metering market size is due to the increasing efforts by water utilities to reduce non-revenue water.
From 2019 to 2024, North America is expected to hold the largest smart water metering market share. This dominance of North America is attributed to the government measures in the US and Canada to minimize non-revenue water, accurate meter reading and the growth of smart city infrastructure. In addition, market growth is expected to be powered by increased urbanization and industrial development.
The report includes a country-wise and region-wise market size for the period 2015-2026. It also includes market size and forecast by type and by Application segment in terms of production capacity, price and revenue for the period 2015-2026.
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