SMART WATER MANAGEMENT MARKET ANALYSIS

Smart Water Management Market Size and Trends

The Global Smart Water Management Market is estimated to be valued at US$ 15.14 Bn in 2024 and is expected to reach US$ 37.62 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 13.9% from 2024 to 2031.

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The market is witnessing positive trends due to increasing awareness about conservation of water and rising need for real-time monitoring solutions. Factors such as growing urbanization, climate change, increasing demand for clean water and technological advancements in smart systems are expected to drive further growth. Additionally, government initiatives to reduce non-revenue water and infrastructure developments in developing nations also supplement the market expansion. Various smart water technologies including advanced metering infrastructure, geographic information systems, cellular networking, and analytical software are being adopted to address the issues of water leakage and wastage and provide real-time data. The development of innovative IoT based solutions coupled with the integration of AI and analytics are also projected to provide new opportunities over the forecast period.

Rising concerns over limited water resources

With the growing global population and rapid urbanization, the demand for water is increasing tremendously across both developed and developing regions of the world. However, the supply of freshwater resources remains limited and fixed. Various factors like over-extraction, wastage, pollution and climate change are further straining the already scarce water resources in many parts of the world. Both citizens and governments are facing tremendous challenges to meet the rising water needs in a sustainable way. Advanced technologies for monitoring water usage, detecting leaks, optimizing distribution and enabling conservation have become critical needs of the hour. Smart water management solutions are gaining prominence as they can help utilities and municipalities better manage the available water infrastructure and usage patterns. Through tools like smart water meters, network monitoring systems and analytics, utilities are able to reduce non-revenue water, optimize operations and maintenance activities. This is helping them delay or avoid costly infrastructure expansion projects. For consumers, smart water solutions provide real-time usage information and alerts to help reduce wastage. With growing water scarcity becoming an inevitable reality, particularly in densely populated urban centers, prioritizing sustainable and efficient smart water management has become imperative across the world.

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Needs of aging water infrastructure

A majority of water supply networks across cities were set up several decades ago and are in dire need for upgrades to tackle challenges of the modern times. Deteriorating pipelines have been resulting in huge water losses, frequent pipe bursts and disruptions in supply. The infrastructure is also not equipped to deal with the rising demand pressures. Modernizing these aging systems with smart digital solutions is the need of the hour. Advanced technologies enable utilities to better monitor the condition of pipelines, proactively detect faults and schedule predictive maintenance. Sensor networks along the distribution network help locate and mitigate leaks faster. This helps reduce non-revenue water losses, enhance service reliability and optimize capital expenditure towards systematic rehabilitation or expansion of pipelines. Real-time monitoring further helps simulate network usage and plan infrastructure augmentation intelligently based on data-driven insights. For utilities struggling with outdated water facilities and rising operation & maintenance costs, smart systems offer an efficient pathway to upgrade, better manage and future-proof their infrastructure assets as per evolving usage patterns.