NEW YORK, April 11, 2019 /PRNewswire/ --
KEY FINDINGS
Factors like rising demand for smart water management system from growing smart city projects, aging water infrastructure in some regions and the need to increase water efficiency by restricting water loss in the urban areas are some of the factors that are influencing the growth of the global smart water management market. Global smart water management market is estimated to grow with 17.41% CAGR over the forecast period. The base year considered for the study is 2018 & the forecast period is 2019-2027.
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MARKET INSIGHTS
The global smart water management market is segmented on the basis of product types, advanced water meters, services, and solutions.Product type can be divided into a smart hot water meter and smart cold water meter.
The advanced water meters include meter type and meter-read technology while the services include managed service and professional service.The solution segment of the global smart water meter management market is highly fragmented.
It comprises of several solution types like network monitoring, enterprise asset management, advanced pressure management, residential water efficiency, SCADA systems for water and wastewater, advanced analytics meter data management (MDM) and smart irrigation management. The scarcity of water resources is fuelling the demand for smart water management owing to its early detection of leakage that facilitates in damage assessment & repair thereby minimizing the loss of water.
REGIONAL INSIGHTS
The geographical segmentation of the global smart water metering market is done into four major regions which include: North America, Europe, Asia-Pacific and the Rest of World.Of these, the Asia-Pacific market is projected to exhibit the fastest growth over the forecast period.
However, it is the North American market that is likely to capture a dominant portion of the overall global market in terms of revenue. The U.S and Canada are anticipated to be the major contributors to this region. Increasing demand due to growing urban population is estimated to be the key driving force behind this market's growth.
Companies mentioned
1. ABB LTD.
2. AMERICAN WATER COMPANY
3. ARAD TECHNOLOGIES LTD.
4. BELKIN CORPORATION (PYHN)
5. SUEZ WATER TECHNOLOGIES & SOLUTIONS (FORMERLY GE WATER)
6. HONEYWELL INTERNATIONAL, INC. (HOLDING COMPANY OF ELSTER GROUP SE)
7. HUAWEI TECHNOLOGIES
8. IBM
9. ITRON, INC.
10. LANDIS+GYR
11. SCHNEIDER ELECTRIC SE
12. SIEMENS AG
13. TAKADU LTD.
14. UTILITY SYSTEMS
15. XYLEM INC.
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