Smart Water Network Market by Technology and Geography - Forecast and Analysis 2020-2024

The smart water network market size has the potential to grow by USD 13.99 billion during 2020-2024, and the market's growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by technology (smart meter, monitoring and control, communication network, and data management) and geography (Europe, North America, APAC, MEA, and South America). Also, the report analyzes the market's competitive landscape and offers information on several market vendors, including Aquiba Pty Ltd., Arad Group, Badger Meter Inc., Diehl Stiftung & Co. KG, General Electric Co., Honeywell International Inc., Hubbell Inc., International Business Machines Corp., Itron Inc., and Xylem Inc.

Market Overview

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Market Competitive Analysis

The market is fragmented. The vendors in the market are adopting strategic decisions such as acquisitions and partnerships to launch new products or to enhance their product portfolio. The initiation from governments of various countries is supporting vendors to adopt smart water meters which will boost the market growth. Aquiba Pty Ltd., Arad Group, and Badger Meter Inc. are some of the major market participants. Although the need for reducing non-revenue water will offer immense growth opportunities, the vulnerability to cyber-attacks will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this smart water network market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market's competitive landscape and offers information on the products offered by various companies. Moreover, this smart water network market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

• Aquiba Pty Ltd.
• Arad Group
• Badger Meter Inc.
• Diehl Stiftung & Co. KG
• General Electric Co.
• Honeywell International Inc.
• Hubbell Inc.
• International Business Machines Corp.
• Itron Inc.
• Xylem Inc.

Smart Water Network Market: Segmentation by Geography

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APAC was the largest smart water network market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The regulatory authorities and water utilities in the region are adopting smart technologies to streamline water management. The smart water management solutions market along with ICT help will reduce maintenance and repair costs, this, in turn, will significantly drive smart water network market growth in this region over the forecast period.

34% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for smart water networks in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Smart Water Network Market: Segmentation by Technology

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Smart water meters help water utilities manage their water networks more efficiently. These devices also provide better customer service, chiefly by allowing end-users to accurately determine water consumption during peak periods. The ability to record and transmit the consumption pattern of consumers to the utility in real-time is the reason driving the replacement of analog and other old technology meters by smart meters in the residential, commercial, and industrial sectors.

This report provides an accurate prediction of the contribution of all the segments to the growth of the smart water network market size.

Smart Water Network Market: Key Drivers and Trends

Research analysis on the global market identifies increasing technological integration as one of the major factors that will have a positive impact on the growth of the smart water networks market. The increasing implementation of smart water network, a constant connection of systems, devices, and solutions will allow water utilities to monitor, visualize, analyze, and diagnose problems in the water network. Moreover, the smart water network enables utilities to maintain system-wide efficiency levels with the use of sensor networks and GIS. Also, these sensor networks and GIS systems permit monitoring and valuation of the environment flow that gives rise to dynamic data-driven decision-making for coming up with sustainable management of resources. Technavio's market research analysts predict that this market will grow at a CAGR of over 13% by 2024.

The increasing demand for clean water is one of the latest smart water network market trends gaining traction. The developing regions are struggling for clean water, for instance, the Middle East, North Africa, and Southeast Asia will face severe water shortages due to inappropriate re-use and bad water management. The adoption of smart water meters will provide increased assistance in monitoring and leak detection, quality control, and energy management. Due to such benefits, the market will witness the increased adoption of smart meters in the forecast period.

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Smart Water Network Market: Key Highlights of the Report for 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive smart water network market growth during the next five years
• Precise estimation of the smart water network market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the smart water network industry across Europe, North America, APAC, MEA, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of smart water network market vendors

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