The smart water management market was valued at USD 13.54Ębillion in 2019Ęand is expected to reach USD 25.61Ębillion by 2025, recording a CAGR of over 13.18%, during the forecast period (2020Ę- 2025). There will be more than two-thirds of people will be living in water scares areas by 2025 according to Xylem. By 2050 water demand will increase by 55% compared to 2015 levels due to the destruction of water resources by humans due to contamination.
- The major drivers for the smart water management market are technological advancement, growing population and decrease in water resources globally. Increase in supervisory control and data acquisition is also a major driver for the market.
- However, the major restraints to the market include high investments required initially and a very low and slow rate of return. Moreover, lack of expertise to implement these technologies across the globe and slow rate of adoption is also a challenge for the market.
- Nevertheless, the proliferation of IoT and smart cities across various regions 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.
Scope of the Report
Smart water management is a technology used for collecting, share and analyze data from water equipment and water networks. It is used by water managers to find leaks, lower energy usage, conserve water, predict equipment failure and ensure regulatory compliance.
Key Market Trends
Supervisory Control and Data Acquisition (SCADA) to Record a Huge Penetration
- The remote operability through a distributed network, reduced operational costs, increased water savings are the prime promoters of SCADA adoption.
- Moreover, by 2050 it is estimated that 70% of the population will live in urban areas and historical lack of investment in water management is putting the entire water networks in immense pressure. Owing to this, SCADA is being increasingly used in water control and management.
- Further, SCADA adoption is set to penetrate with the growth in smart cities and smart water projects worldwide. In Europe, 100 smart cities have a great scope for adoption of SCADA for solving the problems of water management. London had deployed SCADA for its Thames water management which saw a 13% decrease in water consumption.
- Additionally, from 2018 to 2024 the governments worldwide will invest in 14 billion USD smart water projects which is further expected to augment the market growth.
Europe to be One of the Early Adopters of Smart Water Management Systems
- Europe has around 3.5 million kilometers of the water distribution network which poses great challenges for the government to manage the distribution network presently. For revamping the infrastructure there is a need for EUR 20 billion investment per year.
- In Northern Europe, the Investments are for maintaining the existing systems and in the Mediterranian region, the investments need to be made to comply with Europe's standards and modern water management systems.
- The EU Commission has also laid out a vision for the future of smart water across the region in its Digital Single Market for Water Services Action Plan that will further drive the market growth.
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:
- November 2018 - Utility Systems deployed smart prepaid meters for water conservation in South Africa aimed at sustainable water management systems.
- January 2018 - ABB partnered with TaKaDu, a cloud-based water management service provider to provide a smart water management solution to a Chinese city, Ho Chi Minh. The partnership will be in addition to ABBŐs water business portfolio. The solution offered to the utility of Ho Chi Minh included ABBŐs SCADA to monitor and control the water distribution system and TaKaDuŐs Event Management Solution, to detect, analyze, and manage leaks, bursts, faulty assets, telemetry, and operational failures.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
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- 3 months of analyst support
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Need to Manage the Increasing Global Demand for Water
4.3.2 Need to Reduce Non-Revenue Water Losses
4.4 Market Restraints
4.4.1 Lack of Capital Investments to Install Infrastructure
4.5 Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Solution
5.1.1 Asset Management
5.1.2 Distribution Network Monitoring
5.1.3 Supervisory Control and Data Acquisition (SCADA)
5.1.4 Meter Data Management (MDM)
5.1.6 Other Solutions
5.2 By Service
5.2.1 Managed Service
5.2.2 Professional Service
5.3 By End User
5.4.1 North America
5.4.4 Latin America
5.4.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 COMPANY PROFILES
6.1.1 ABB Ltd
6.1.2 IBM Corporation
6.1.3 GE Water & Process Technologies (Suez group)
6.1.4 Honeywell International Inc
6.1.5 Schneider Electric (+ Aveva)
6.1.6 Siemens AG
6.1.7 Utility Systems (Micro Mega Holdings Limited)
6.1.8 Hitachi Ltd
6.1.9 Arad Metering Technologies
6.1.10 TaKaDu Limited
6.1.11 Sensus Inc. (Xylem Inc.)
6.1.12 Itron Inc.
6.1.13 i2O Water Ltd
6.1.14 Huawei Technologies Co. Ltd
6.1.15 Esri Geographic Information System Company
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 INVESTMENT ANALYSIS
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.