Smart Water Management (SWM) Market is Expected to Grow from $7,340.0 Million in 2015

Date: 2015-09-07

“The Smart Water Management (SWM) market has witnessed a major growth over recent years with the integration of ICT in different verticals, and increasing adoption of technologies. This has helped in proper water management and reduction of Non-Revenue Water (NRW) loss due to leaks, thefts, pipe bursts, and metering errors. With the increasing demand of SWM solutions, key players are also investing a major portion of their revenue in the research and development of new and innovative products related to the market.

One of the primary drivers for the SWM market is the regulations implemented by the governments and water bodies regarding quality of water supplied. The water utilities have to maintain the quality standard, due to which they are shifting towards advanced technologies. The rollout of advanced water meters and use of sensors for monitoring the distribution network along with real-time updates were the results of these regulations. Furthermore, the energy consumed for the purpose of water distribution is relatively high, which adds up to a major cost for the water utilities. Therefore, different solutions have been integrated to optimize the consumption of energy in water distribution.

The SWM market is expected to witness a high growth rate in the developing countries as the cost incurred on hardware would be minimum due to lack of legacy infrastructure in these countries. However, the water utilities are apprehensive in shifting towards cloud-based deployment which has the potential for minimizing expenses. Thus, the apprehension of water utilities is acting as a restraint as the cost of on premise infrastructure is huge.

The SWM market is expected to grow from $7,340.0 million in 2015 to $18,310.0 million by 2020, at a Compound Annual Growth Rate (CAGR) of 20.1% from 2015 to 2020. Some of the key players in this market include IBM, General Electric, ABB, Itron, Elster Group, Schneider Electric, Sensus, and Takadu.

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