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Smart water management implementation is necessary due to the factors such as rising water scarcity and need of water conservation across the globe. Water is the most essential asset and the water resources are deteriorating at a considerable rate, thus organizations and governments all over the world are under immense pressure to meet the triggering demand of water. Water regulatory authorities worldwide need to be intelligent enough to proactively adopt smart technology solutions to fulfil the mandatory needs that are served by the utilization of water and the way in which the authorities utilize the water resources.Thus, with the help of Information and Communication technology (ICT), the water management solutions work much better to fulfil the needs, as well as reduce the maintenance and repair cost of water infrastructure.Thus keeping all these aspects mentioned above in mind, the global smart water management market is expected to have a CAGR of 17.8% during the forecast period. Various solutions like Advance Metering Infrastructure (AMI), Supervisory Control and Data Acquisition (SCADA) and Meter Data Management (MDM) have proven their worth in the utility industry as these are the devices of smart water management systems. Thus following this trend various other solutions like network monitoring and smart irrigation are expected to witness high growth rate in the future.All these technologies when applied with the smart water management will lead to deliver a higher CAGR in the forecast period.
One of the most dominating factors driving the adoption of smart water management system is the deteriorating water infrastructure. Governments and water authorities across the globe find it very difficult to manage the water infrastructure. As a result, the nation faces huge losses in terms of money, damaged infrastructure and others. For instance, The Organisation for Economic Co-operation and Development (OECD) says there is a loss of $ 120 billion per year up to 2015 in the OECD countries that includes Switzerland, U.K., U.S. and others by the water infrastructure damages caused by floods in urban areas. Thus, the world faces many difficulties due to the weak water infrastructure and the new concept “smart water management system” provides a platform for efficiently managing the operations of water infrastructure.
Source: OBRC analysis
Global smart water management market is segmented into solution, service and device.
Solution is further sub divided into:
On the basis of device the market is sub segments include:
Global Smart Water Management market is segmented into devices, solutions and services. Thus the scope of this market is comprised of the hardware and software services as well. On device point of view, there are various kind of water meters, amongst which the prominent ones are AMR water meters and AMI water meters. Other than this the areas of interests in the device sector are Mater Read Technology and Cellular Network. This market has its roots in the service sector also where the whole market is divided into professional services and managed services market. The last parameter is the solution which has the biggest impact in the market of smart water management.The sub segments covered under solutions include enterprise asset management for water & wastewater utilities, network monitoring, advanced pressure management, supervisory control & data acquisition (SCADA systems), advanced analytics, meter data management (MDM), residential water efficiency and smart irrigation management systems.
Considering the criterion of regional analysis, the market of Global Smart Water Management is expected to grow drastically in North America as it is the one country which is accepting and developing new technologies at a speed of bullet. Further, sustainable energy demand and reducing aging infrastructure demands are the other supporting factors which promote the adoption of Smart Water Management in North America. Following this, Europe is also trying to dominate in the market of Smart Water Management market. The adoption of SCADA solution is also impacting the market of smart water management in a positive manner.
Some of the leading market players within global smart water management market are:
On industry point of view, the key companies in the race are IBM, Siemens, Schnieder, GE, ABB, Nalco, TaKaDu, i2O water and others. 2016 was highlighted by “game changing” deals, which consolidated the industry and formed strategic partnerships. Xylem acquired Sensus and Visenti. GE Water & Process Technologies signed multiple cooperation agreements with WaterSmart Software and Smart Earth Technologies. Also, Belkin, a leading consumer electronics company announced a joint venture with Uponor to “bring water up to speed with the rest of the smart home.” 2017 will likely produce similar partnerships to offer integrated solutions. Considering competitive aspect, the key companies in this sector are adopting different growth strategies, such as mergers & acquisitions, partnerships & collaborations, and product developments to increase their share in the Smart Water Management market. The dream of smart water is possible with the technology as well as the support of government. In March 2016,GE collaborated with American Water, the largest water trading waste water utility company in the U.S. as this was a partnership strategy between both the companies. Together both companies launched a digital initiative which aimed at solving water industries’ challenges and help the country become smart in its water utility for the future. Another example is that in January 2016, Honeywell, a U.S. multinational company, acquired Elster Group from Melrose industries, a London-based industrial investor, for 45 billion. Some of the major technology vendors include ABB Group, IBM Corporation, Schneider Electric, General Electric Company, Itron, and Siemens.
The report covers detailed analysis of companies which comprises overview, SCOT analysis, product portfolio, strategic initiative, strategic analysis, competitive landscape and market share analysis in the global e-discovery market.
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At OBRC, our reports offer an extensive portfolio through completed market analysis along with market share, market size, and market segmentation. The DROC’s for the markets are well thought out and researched after consulting with industry experts. Global smart water management market showcases market analysis through models like investment vs adoption, see saw analysis, and so on. The report also provides overview on product application, adoption and decision support within each segment. The company profiling for each major players within the market is showcased via SCOT analysis.
Key findings of the Global Smart Water Management market:
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