Smart Water Management Market Size (2024 - 2029)

The market size for Smart Water Management (SWM) is predicted to increase significantly in the coming years, driven by the growing global demand for water and the need to address the cost implications of maintaining aging infrastructure. SWM uses information and communication technology (ICT) and real-time data to manage water challenges, with potential applications including water quality, quantity, efficient irrigation, leaks, pressure and flow, floods, and droughts. Despite initial high costs, investment in smart water metering is anticipated to increase, particularly in European countries post-COVID-19. However, the reluctance of traditional water management users to switch to newer methods and the initial cost of infrastructure and training in developing nations may hinder market growth.

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Market Size of Smart Water Management Industry

Smart Water Management Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 13.89 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Medium

Major Players

Smart Water Management Market Major Players

*Disclaimer: Major Players sorted in no particular order
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Smart Water Management Market Analysis

The Smart Water Management Market size is expected to grow from USD 16.08 billion in 2023 to USD 30.80 billion by 2028, registering a CAGR of 13.89% during the forecast period. In recent years, owing to increasing population and urbanization, the global demand for water and the need to address the cost implications of maintaining an aging infrastructure has been the major growth factors for the smart water management market.

  • Smart water management (SWM) uses information and communication technology (ICT) and real-time data and responses, which is an integral part of the solution for water management challenges. The potential application of smart systems in water management is vast and includes solutions for water quality, water quantity, efficient irrigation, leaks, pressure and flow, floods, droughts, and more.
  • Smart data-driven methods for detecting water losses in public networks are becoming popular. Such solutions are based on applying the Internet of Things (IoT) and artificial intelligence (AI) techniques. In the State of Palestine, the UNDP/PAPP's Accelerator Lab partnered with a promising start-up company, FlowLess, to test a locally developed and cost-efficient smart system for detecting water losses using IoT and AI, supported by a customized web platform.
  • Water infrastructure costs need to be assessed across the full water cycle and for all its major uses. As 2030 approaches, the costs of operating a new infrastructure built may exceed the annual capital cost requirements to meet those remaining unserved. When coupled with increased billing accuracy, the short-term issues in investing in smart water metering highlight a higher initial capital outlay. Traditional water management users are reluctant to switch to newer and advanced methods. The high initial cost of infrastructure and training prevails in most developing nations, hindering the market's growth.
  • Post-COVID-19 pandemic, European countries focused on investing in water loss solutions. The European Union has invested in research and innovation to support a smooth transition. 79% of citizens agree that tackling climate change may lead to innovation that may make European companies more competitive, and 70% agree that water-based activity may positively affect citizens.

Smart Water Management Industry Segmentation

Smart water management is a technology that collects, shares, and analyzes data from water equipment and networks. Water managers use it to find leaks, lower energy usage, conserve water, predict equipment failure, and ensure regulatory compliance.

The smart water management market is segmented by type (solution (asset management, distribution network monitoring, SCADA, meter data management, analytics), services (managed services/professional services)), end-user vertical (residential, commercial, and industrial), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa). The market sizes and forecasts are provided in terms of value in USD for all the above segments.

By Type
By Solution
Asset Management
Distribution Network Monitoring
Supervisory Control and Data Acquisition (SCADA)
Meter Data Management (MDM)
Analytics
Other Solutions
By Services - Managed/Professional
By End User
Residential
Commercial
Industrial
By Geography
North America
Europe
Asia-Pacific
Latin America
Middle East and Africa

Smart Water Management Market Size Summary

The Smart Water Management Market is projected to experience significant growth in the coming years. This growth is driven by the increasing global demand for water due to population growth and urbanization, as well as the need to manage the costs associated with maintaining aging water infrastructure. Smart water management utilizes information and communication technology, real-time data, and responses to address various water management challenges. These include water quality and quantity, efficient irrigation, leaks, pressure and flow, floods, droughts, and others. The application of smart systems in water management is extensive and is becoming increasingly popular, particularly those that use Internet of Things (IoT) and artificial intelligence (AI) techniques for detecting water losses in public networks. However, the market faces challenges such as the high initial cost of infrastructure and training, particularly in developing nations. This has made traditional water management users reluctant to switch to newer and advanced methods. Despite these challenges, the market is expected to grow as more countries focus on investing in water loss solutions, particularly in the wake of the COVID-19 pandemic. The European Union, for example, has invested in research and innovation to support a smooth transition to smart water management. This is in line with the growing consensus that tackling climate change can lead to innovation that makes companies more competitive and that water-based activity can have a positive impact on citizens.

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Smart Water Management Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

      1. 1.1.1 Growing Need to Manage the Increasing Global Demand for Water

      2. 1.1.2 Increasing Demand to Reduce Non-revenue Water (NRW) Losses

    2. 1.2 Market Restraints

      1. 1.2.1 Lack of Capital Investments to Install Infrastructure

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 By Solution

        1. 2.1.1.1 Asset Management

        2. 2.1.1.2 Distribution Network Monitoring

        3. 2.1.1.3 Supervisory Control and Data Acquisition (SCADA)

        4. 2.1.1.4 Meter Data Management (MDM)

        5. 2.1.1.5 Analytics

        6. 2.1.1.6 Other Solutions

      2. 2.1.2 By Services - Managed/Professional

    2. 2.2 By End User

      1. 2.2.1 Residential

      2. 2.2.2 Commercial

      3. 2.2.3 Industrial

    3. 2.3 By Geography

      1. 2.3.1 North America

      2. 2.3.2 Europe

      3. 2.3.3 Asia-Pacific

      4. 2.3.4 Latin America

      5. 2.3.5 Middle East and Africa

Smart Water Management Market Size FAQs

The Smart Water Management Market is projected to register a CAGR of 13.89% during the forecast period (2024-2029)

ABB Ltd, IBM Corporation, SUEZ Group , Honeywell International Inc. and Schneider Electric SE (+AVEVA) are the major companies operating in the Smart Water Management Market.

Smart Water Management Market Report Snapshots

Smart Water Management Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)