Smart Water Management Market Forecasts to 2030 - Global Analysis by Offering (Hardware, Software & Solutions and Services), Deployment Mode (On-Premise and Cloud-Based), Technology, Application, End User and By Geography

According to Stratistics MRC, the Global Smart Water Management Market is accounted for $18.6 billion in 2024 and is expected to reach $37.8 billion by 2030 growing at a CAGR of 12.5% during the forecast period. Smart water management refers to the use of advanced technology, data analytics, and automation to efficiently allocate, use, and store water. It includes real-time monitoring of water systems, predictive maintenance, irrigation efficiency, and intelligent decision-making tools to reduce waste, improve water quality, and ensure sustainability. Irrigation integrating smart use aims to address water scarcity, increase infrastructure efficiency, and promote environmentally friendly water use around.

According to the United Nations, water scarcity affects over 2.3 billion people globally.

Market Dynamics:

Driver:

Growing demand for efficient water usage

The smart water management market is driven by the increasing need for efficient water usage, prompted by global water scarcity and the pressures of urbanization. As populations grow, particularly in urban areas, the demand for water intensifies, necessitating advanced management solutions to optimize distribution and minimize waste. Smart water systems leverage IoT technologies, real-time data analytics, and AI to enhance resource efficiency, reduce operational costs, and ensure sustainable water supply. This demand is further fueled by regulatory requirements and the push for sustainable development.

Restraint:

Lack of standardization and interoperability

The lack of standardization and interoperability among smart water management technologies poses a significant restraint to market growth. Diverse systems often struggle to communicate effectively due to incompatible protocols and data formats, complicating integration efforts. This fragmentation can hinder the seamless deployment of comprehensive smart water solutions, limiting their effectiveness and scalability.

Opportunity:

Growing demand for water-efficient agriculture

The growing demand for water-efficient agriculture presents a substantial opportunity for the smart water management market. As agricultural practices evolve to meet food security needs amid climate change challenges, there is a heightened focus on optimizing water use in farming. Smart irrigation systems, powered by IoT sensors and data analytics, enable precise water application based on real-time soil and weather conditions. This technology conserves water and enhances crop yields, positioning smart water solutions as crucial tools in modernizing agricultural practices.

Threat:

Cyberattacks on connected water management networks

Cyberattacks on connected water management networks pose a significant threat to the market. As these systems become more integrated with digital technologies, they become vulnerable to cyber threats that can disrupt operations or compromise data integrity. Such attacks can lead to service interruptions, financial losses, and public safety risks.

Covid-19 Impact:

The Covid-19 pandemic accelerated the adoption of digital solutions in the smart water management market as utilities sought remote monitoring capabilities to maintain operations amid lockdowns. This shift highlighted the importance of resilient infrastructure and real-time data access in ensuring uninterrupted service delivery. The pandemic also underscored the need for investment in smart technologies to enhance operational efficiency and adaptability in crisis situations.

The internet of things (IoT) segment is expected to be the largest during the forecast period

The internet of things (IoT) segment is expected to account for the largest market share during the projection period due to its pivotal role in transforming traditional water management practices. IoT-enabled devices provide real-time monitoring and control over water distribution networks, allowing utilities to detect leaks promptly and optimize resource allocation. This capability enhances operational efficiency and reduces costs, making IoT solutions indispensable for modernizing infrastructure and meeting regulatory compliance requirements.

The services segment is expected to have the highest CAGR during the forecast period

The services segment is expected to have the highest CAGR due to increasing demand for professional services that support the implementation and optimization of smart water management solutions. These services include system integration, consulting, maintenance, and training, which are essential for ensuring successful deployment and operation of advanced technologies. As utilities seek to maximize their investments in smart infrastructure, the need for expert guidance and support drives growth in this segment.

Region with largest share:

The North America region is anticipated to account for the largest market share during the forecast period due to its advanced technological infrastructure and stringent regulations promoting efficient water management. The region's focus on sustainability and resource conservation drives investments in smart technologies that enhance operational efficiency. Additionally, government initiatives supporting infrastructure modernization further bolster North America's leadership in adopting smart water solutions.

Region with highest CAGR:

The Asia Pacific region is anticipated to achieve the highest CAGR during the forecast period owing to rapid urbanization and significant investments in smart city initiatives. Countries in this region are increasingly adopting advanced technologies like IoT and AI to address challenges related to water scarcity and distribution inefficiencies. Government policies promoting sustainable practices also contribute to robust growth as these nations strive for efficient resource management amidst rising environmental concerns.

Key players in the market

Some of the key players in Smart Water Management Market include ABB Group, IBM Corporation, General Electric, Itron Inc., Schneider Electric, Siemens AG, SUEZ, Xylem Inc., Honeywell, Oracle Corporation, Landis+Gyr, Trimble Inc., Kamstrup, Neptune Technology Group, Badger Meter, Ayyeka, CityTaps and TaKaDu.

Key Developments:

In July 2024, Badger Meter introduced the Dynasonics RS-900w Polymer Ultrasonic Flow Sensor for modern irrigation control applications, featuring zero straight run requirements and wide-range flow measurement capabilities.

In May 2024, with more than a century of experience serving municipal, commercial and industrial customers worldwide, Badger Meter, Inc. is a trusted water technology innovator. The company announces the launch of BlueEdge(TM), a customizable suite of solutions designed to drive visibility and optimization of water assets. The Milwaukee-based business is a flow meter pioneer, from introducing the first frost-proof water meter nearly 120 years ago, to todays digitally connected water management solutions.

Offerings Covered:

• Hardware
• Software & Solutions
• Services

Deployment Modes Covered:

• On-Premise
• Cloud-Based

Technologies Covered:

• Internet of Things (IoT)
• Artificial Intelligence (AI)
• Machine Learning
• Big Data Analytics
• Blockchain
• 5G Connectivity

Applications Covered:

• Distribution Network Management
• Asset Management
• Data Management

End Users Covered:

• Residential
• Commercial & Industrial
• Utilities & Public Sector
• Agriculture & Irrigation

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances