North America is estimated to lead the global smart water management market due to the early adoption of water management solutions in the region along with the presence of regulatory policies requiring industries in the region to comply with water-usage and discharge-related norms. Regulations in the U.S., such as the Safe Drinking Water Act (SDWA), the Clean Water Act (CWA), ensure the drinking water safety and monitoring of the discharge of pollutants into the water bodies. Industries operating in the region are required to utilize and discharge water in compliance with these regulations. Asia Pacific market, on the other hand, is expected to exhibit fastest growth between 2018 and 2024. The market is growing due to the increasing popularity of smart irrigation technology and growing concerns related to water scarcity coupled with a high rate of water wastage in the agricultural sector.
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
- Elster Group
- Arad Metering Technologies
- i20 Water
- ABB Group
- Schneider Electric
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The traditional water management system is based on a centralized system in which the management options are limited. The system has a low operating efficiency due to the gap between the supply & demand for fresh water, the high energy requirement for distribution & production, and high treatment cost. To address these challenges, a new smart water management system is required.
The smart water management market comprises of enterprise asset management systems, network monitoring systems, advanced pressure management systems, SCADA systems, advanced analytics systems, meter data management systems, residential water efficiency, and smart irrigation management systems. SCADA systems are anticipated to be the most used solutions among the industry verticals due to the numerous benefits offered by the system. Furthermore, the high efficiency offered by the system in the prevention and detection of the failures in the distribution system also fosters the smart water management market growth.
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The companies operating in the smart water management market are focusing on strategic acquisitions to strengthen their product portfolio and R&D capabilities and gain a competitive advantage in the rapidly-growing market. For instance, in February 2018, Xylem, Inc., a global water technology provider acquired Pure Technologies, a provider of technological solutions for managing critical infrastructure across wastewater and transportation sectors. The acquisition was aimed at strengthening Xylem’s product portfolio by leveraging Pure Technologies’ proprietary diagnostic and analytics solutions. Similarly, in October 2017, Suez, one of the global leaders in smart and sustainable resource management solutions, finalized the acquisition of GE Water and Process Technologies to strengthen its position in the global industrial water services sector. Some of the companies operating in the market are ABB Group, Schneider Electric, Itron, Elster Group, Seimens, Suez, IBM, AVEA, Trimble, Topcon, Takadu, Arad Metering Technologies, Nalco, Sensus, and i20 Water.