ALBANY, New York, June 07, 2018 (GLOBE NEWSWIRE) -- The global market for smart water management has witnessed the emergence of several new market players due to weak entry barriers. Despite the expertise and technological prowess required to cater to the needs of the market, the number of market vendors has been increasing lately. It is anticipated that the market would soon display an extremely fragmented competitive landscape due to the existence of small, medium, and large-scale players. Furthermore, the market players who have a proven record of excellence in the domain of smart water management are expected to keep benefitting from their positive image in the market. Furthermore, the competition amongst the market players is expected to intensify due to the ardent efforts of the market players to establish their footholds. Owing to the scantiness of fresh water reserves, the demand for smart water management has reached unprecedented levels. Hence, all the market players are on their toes to tap into the market gap that currently exists across the globe. It is expected that the small players in the global smart water management would capitalise on acquiring the regional shares of the market. Schneider Electric SA, Honeywell International Inc., ET Water Systems LLC, i2O Water Ltd., Evoqua Water Technologies, General Electric Co., Arad Metering Technologies, TaKaDu Ltd., Itron Inc., Emerson Electric Corp., IBM Corp., ABB Ltd., and Sensus USA Inc. are the key market players operating in the global market for smart water management.
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Transparency Market Research (TMR) predicts that the global market for smart water management is expected to expand at a CAGR of 17.70% over the period between 2013 and 2019. The market was valued at US$4,813.3 mn in 2012 and is expected to elevate to a value of US$15,232.6 mn by 2019-end.
Automation Technologies to Drive Demand
The global market for smart water management has been growing at the back of several extrinsic and intrinsic factors pertaining to the use of water management systems. Primarily, the demand within the market has seen an upsurge due to the development of automation technologies such as automated meter reading. Energy production can be easily monitored with the help of automated meter reading systems which in turns enhances customer service. Furthermore, the high consumption periods as well as non-usage periods can also be monitored with the help of automated meter reading systems. Besides the aforementioned factors, the demand within the global market for smart water management has escalated due to the high costs incurred at water facilities. Due to the exponential amount of energy consumed at these water facilities, the government also supports the implementation of smart water management systems.
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Dearth of Fresh Water Reserves behind Swift Growth
Fresh water resources have been dwindling across the globe which has compelled governments and international bodies to deploy smart water management systems. The consumption of water by the residential and commercial sector has increased tremendously over the past decade. This has led water regulatory bodies to resort to the usage of smart water systems for efficient supply and distribution. Hence, it is safe to predict that the market for smart water management would grow at a robust rate over the forthcoming years.
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The review is based on TMR’s report, “ mart Water Management Market (Component Types - Hardware, Solutions, Services; Meter Read Technology - Fixed network, Cellular network) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2013 – 2019”
The global smart water management market is segmented as:
By Component
- Hardware
- AMR
- AMI
- Others
- Solutions
- Services
By Meter Read Technology
- Fixed Technology
- Cellular Technology
By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
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