A market study on the global smart water management market has been recently published by Transparency Market Research, estimating the market to attain an expected value of US$15,232.6 mn by the end of 2019, rising at an impressive CAGR of 17.70% during the period from 2013 to 2019.The research report, titled “Smart Water Management Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2013 – 2019”, states that the worldwide market for smart water management valued at US$4,813.3 mn in 2012.
According to the study, the aging water infrastructure, together with the inadequate water management in urban areas as well as the need to decrease non-revenue water (NRW), is fueling the demand for smart water management. The implementation of various government rules and policies across the world pertaining to the deployment of smart water technologies is likely to propel the market in coming years.
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The report analyzes the global market for smart water management on the basis of its components, technologies employed, and its regional distribution. Solutions, services, and hardware are the key components of the global smart water management market.
The hardware segment leads the overall market at present. In 2012, it accounted for 40.1% of the global market for smart water management. Analysts at TMR project it to retain its position throughout the forecast period.
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On the other hand, the solutions segment is expected to register the fastest growth rate over the forecast period. The rising demand for technically advanced software such as Hymer (Orbicon), ReadCenter Analytics+ and ReadCenter AnalyticsPro, Intelligent Operations Center software, and various others are likely to propel the smart water management solution market in the near future, says the report.Fixed and cellular meter read technologies are the key technology segment of the global smart water management market, states the study.
As per the report, the global smart water management market is distributed among Europe, North America, Asia Pacific, and Rest of the World. North America has acquired the leadership among all these regional markets.
In 2012, it held 47.5% of the overall smart water management market in terms of revenue. Market experts anticipate it to maintain its dominance through the report’s forecast period. They also project Asia Pacific market to rise at the fastest CAGR of 23.70% during the forecast period on account of uneven rainfall as well as the rise in global warming.
The report states that the global market for smart water management is extremely fragmented in nature. IBM Corp., ABB Ltd., Arad Metering Technologies, Schneider Electric SA, Itron Inc., Evoqua Water Technologies, Honeywell International Inc., General Electric Co., Emerson Electric Corp., ET Water Systems LLC, Sensus USA Inc., i2O Water Ltd., and TaKaDu Ltd. are the key participants in this market.