Smart Water Management Market Size, Share & Trends Analysis Report By Offering (Solution Outlook, Service Outlook), By End Use, By Region, And Segment Forecasts, 2024 - 2030

Report Overview

The global smart water management market size was valued at USD 16.9 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 13.4% from 2024 to 2030. The continuous population growth, rapid urbanization, growing water scarcity impacting the market growth and driving demand for the solutions of smart water management. The Key factors affecting growth of market are wastewater generating chemical industries and declining ground water level. Key Driver of the market is technologically advanced solutions which will help in reducing water loss, optimizing water distribution and Improving water quality.

Innovations in IoT, AI, and data analytics are significantly enhancing the capabilities of smart water management systems, revolutionizing how water resources are monitored and managed. IoT sensors and devices facilitate real-time monitoring of water quality, pressure, and flow, providing immediate insights into system performance and potential issues. AI algorithms analyze this vast amount of data to predict maintenance needs, detect leaks, and optimize water distribution, thereby reducing water waste and preventing costly system failures. Data analytics enables utilities to gain actionable insights into consumption patterns, allowing for more efficient resource allocation and demand management. 

Smart water management systems offer substantial cost savings by optimizing water usage, reducing operational costs, and enhancing overall resource efficiency. By leveraging advanced technologies such as IoT sensors, AI, and data analytics, these systems provide real-time monitoring and precise control over water distribution networks. This precision helps in identifying and addressing leaks and inefficiencies promptly, thereby minimizing water loss and associated costs. Predictive maintenance capabilities reduce the need for emergency repairs and extend the lifespan of infrastructure, leading to lower maintenance expenses. 

Offering Insights & Trends

Water meters dominated the market and accounted for a share of 44.1% in 2023. Smart water meters offer precise measurement of water consumption, which ensures accurate billing for consumers and significantly reduces revenue losses for utilities. Unlike traditional meters that require manual readings and are prone to errors, smart meters automatically collect and transmit consumption data in real-time. This automated process eliminates discrepancies and ensures that consumers are billed accurately based on their actual water usage.

Services segment is expected to growth at 15% CAGR over forecast period. The increased demand for consulting and advisory services in the smart water management sector reflects utilities' and municipalities' growing need for expert guidance in implementing efficient and effective solutions. As the complexity of water management systems increases, particularly with the integration of IoT, AI, and data analytics, stakeholders seek specialized expertise to navigate technological advancements and regulatory requirements. Consulting services provide tailored strategies and roadmaps for deploying smart water solutions, conducting feasibility studies, and assessing the economic and environmental benefits of adopting new technologies.

End Use Insights & Trends

The industrial segment held the highest revenue market share 2023. Smart water management systems provide industrial facilities with substantial operational cost savings through several key mechanisms. By minimizing water losses through early leak detection and automated shut-off systems, these systems help prevent wasted water, reducing utility costs and conserving valuable resources. Optimizing water usage involves real-time monitoring of water flows and pressure, enabling precise control over water distribution and consumption.

The Commercial segment is expected to grow at 14.4% CAGR over forecast period. Stringent regulations and mandates governing water usage and conservation exert significant pressure on commercial establishments to adopt smart water technologies. These regulations, often enforced by governmental bodies and environmental agencies, set stringent limits on water consumption, discharge standards, and conservation practices to mitigate environmental impact and ensure sustainable resource management. By implementing smart water management systems, businesses can accurately monitor water usage in real time, detect leaks promptly, and optimize consumption patterns to meet regulatory requirements effectively.

Regional Insights & Trends

The North America region held the highest market share of 32.9% in terms of revenue in the year 2023. Rapid urbanization and population growth in North American cities are significantly increasing the demand for smart water solutions. As urban areas expand and populations increase, the pressure on existing water infrastructure intensifies, necessitating the adoption of advanced technologies to manage water resources efficiently. Smart water management systems enable cities to optimize their water distribution networks, ensuring that water is delivered efficiently and equitably across expanding urban landscapes. These systems use real-time data and analytics to monitor water usage patterns, detect leaks, and predict maintenance needs, thereby reducing water loss and improving the reliability of supply. Smart water solutions support sustainable urban development by promoting water conservation and ensuring that growing populations can be served without compromising environmental standards. This technological integration is crucial for cities aiming to balance the demands of urban growth with the need for sustainable resource management, driving the growth of smart water management systems.

U.S. Smart Water Market Trends

Rising public awareness about environmental issues and the growing demand for sustainable practices are significantly influencing utilities and municipalities to adopt smart water solutions. As communities become more conscious of the environmental impact of water usage and the importance of resource conservation, there is increased pressure on public and private entities to implement sustainable water management practices. This awareness is driven by education, media coverage, and advocacy by environmental organizations, leading consumers to prioritize sustainability in their choices and expectations. Utilities and municipalities, in response, are turning to smart water technologies that offer real-time monitoring, leak detection, and efficient water distribution to minimize waste and optimize usage

Asia Pacific Smart Water Market Trends

Asia Pacific smart water management market is expected to grow at fastest CAGR of 4.2% from 2024 to 2030. Many countries in this region are making significant investments in smart city initiatives, recognizing the transformative potential of integrating advanced technologies to improve urban living standards. Within these initiatives, smart water management systems play a crucial role, addressing the pressing need for efficient and sustainable water use in densely populated urban areas. These systems utilize IoT sensors, data analytics, and AI to monitor water quality, detect leaks, and optimize distribution networks in real-time, ensuring that water resources are managed efficiently and sustainably. By enhancing the reliability and efficiency of water supply and wastewater management, these smart systems contribute to better public health outcomes and environmental protection. The integration of smart water management into broader smart city frameworks supports energy conservation, reduces operational costs, and enhances the overall resilience of urban infrastructure against climate change and natural disasters.

According to Asia Business Council, Asian countries are making significant investments to transform their urban infrastructures, with China leading the charge by planning to invest USD320 billion in smart city development. This substantial financial commitment underscores the region's dedication to integrating advanced technologies and sustainable practices into urban planning. The focus on smart city initiatives aims to address the challenges of rapid urbanization, improve the efficiency of urban services, and enhance the quality of life for residents.

Europe Smart Water Market Trends

The European market's emphasis on digital transformation includes numerous sectors, prominently including water management, where there is a concerted effort towards digitalization. This strategic shift is driving the widespread adoption of smart water technologies aimed at revolutionizing traditional approaches to data collection, analysis, and decision-making. By integrating IoT sensors, advanced data analytics, and AI-driven algorithms, smart water systems enable utilities and municipalities to gather real-time insights into water usage patterns, monitor infrastructure performance, and detect anomalies promptly. These technologies facilitate predictive maintenance, improving the reliability and sustainability of water supply networks, driving the growth of market in European region.

Smart Water Management Company Share & Insights

Some of the key companies in the smart water management market include Siemens, IBM, ABB, Honeywell International Inc, Schneider Electric, Schneider Electric, Itron Inc., SUEZ, SUEZ, Oracle, Landis+Gyr, Trimble Inc. Vendors in the market are focusing on increasing customer base to gain a competitive edge in the industry. hence, key players are taking several strategic initiatives, such as mergers and acquisitions, and partnerships with other major companies. 

• Siemens is a global company providing smart water management solutions, offering a comprehensive range of products and services tailored to optimize water infrastructure efficiency and sustainability. The company’s portfolio includes advanced technologies such as IoT-enabled sensors, data analytics platforms, and integrated automation systems designed to monitor and manage water networks in real-time. Siemens' smart water solutions empower utilities and municipalities to improve operational performance, reduce water losses through leak detection and predictive maintenance, and enhance overall system resilience.

• IBM provides comprehensive smart water management solutions that leverage advanced technologies to address the complex challenges of water resource management. The company’s offerings include IoT-enabled sensors and devices for real-time monitoring of water quality, consumption patterns, and infrastructure health. IBM's analytics platforms integrate AI and machine learning algorithms to analyze vast amounts of data, enabling predictive insights into water system performance and proactive decision-making.

Recent Developments

• In May 2024, Siemens announced the launch of AI-based applications aimed at revolutionizing water infrastructure management. These innovative apps leverage artificial intelligence (AI) and machine learning to enhance the efficiency, reliability, and sustainability of water systems worldwide. Siemens' AI solutions are designed to address key challenges in water management, including optimizing operational performance, predicting maintenance needs, and improving resource allocation. By analyzing large volumes of data collected from IoT sensors and smart devices, the AI-based apps provide utilities and municipalities with actionable insights to optimize water distribution, detect leaks, and ensure water quality compliance.

Smart Water Management Market Report Scope

Global Smart Water Management Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global smart water management market report based on offering, solution, product, end use

• Offering Outlook (Revenue, USD Million, 2018 - 2030)

  • Water Meters

  • Solutions

    • Asset Management

    • Distribution Network Monitoring

    • Supervisory Control and Data Acquisition (SCADA)

    • Meter Data Management (MDM)

    • Analytics

    • Others

  • Services

    • Integration & Deployment

    • Support & Maintenance

    • Consulting

• End Use Outlook (Revenue, USD Million, 2018 - 2030)

  • Residential

  • commercial

  • Industrial

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Australia

  • Latin America

    • Brazil

    • Argentina

  • Middle East and Africa (MEA)

    • South Arabia

    • UAE

    • South Africa