Smart water management is defined as a process of collecting, sharing and analyzing data from water equipment and networks. The system is useful in locating leaks in reservoirs, lowering energy use, and predicting equipment failure. The depletion of water resources has brought up awareness among the people for proper management to reserve water. A number of organizations have started the usage of smart water management systems in order to reduce water shortages and improve operations. The demand for smart water management has been growing in the recent past due to factors such as water scarceness, water pollutions, and insufficient water supplies across the globe. The introduction of smart meters which use two-way communications for monitoring and controlling water flow has fueled the market for smart water management. These advanced meters also feature properties such as pressure control, security, and quality sensors to meet the needs for clean and sanitized water. However, the lack of knowledge in order to increase efficiency can pose a threat to the growth of the market.
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The smart water management market is segmented on the basis of regions includes North America, Europe, Asia-Pacific, and Rest of the world (RoW). North America is expected to have considerable market share attributed to its prolonged efforts in conducting awareness programs across countries such as the US and Canada to preserve water resources. Asia-Pacific region is anticipated to witness significant growth in the market attributed to government efforts in countries such as China and India in order to maintain water resources. Furthermore, many international organizations have brought up investments in the region to improve the crisis of water management in the region. Some of the major players in the smart water management market include Schneider Electric SA, Honeywell International, Inc., SUEZ Group, Badger Meter, i2O Water Ltd., ET Water Systems LLC, TaKaDu Ltd., and Itron Inc. The increasing number of international firms has led to increased competition and high initial investment. Company acquisitions and partnerships are the business strategies undertaken by various companies to stay competitive in the market.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Smart Water Management Market – Segmentation
By Product
- Hardware
- Software and Services
By Application
- Residential
- Commercial
- Industrial
Global Smart Water Management Market- by Region
North America
- US
- Canada
Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
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