NEW YORK, April 24, 2024 /PRNewswire/ — The global smart water network market size is estimated to grow by USD 13.99 billion from 2020 to 2024, according to Technavio. The market is estimated to grow at a CAGR of over 13% during the forecast period.
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Key Trends Fueling Growth:
- Increasing demand for clean water:
- The developing regions are struggling for clean water, for instance, the Middle East, North Africa, and Southeast Asia will face severe water shortages due to inappropriate re-use and bad water management.
- The adoption of smart water meters will provide increased assistance in monitoring and leak detection, quality control, and energy management. Due to such benefits, the market will witness the increased adoption of smart meters in the forecast period.
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Analyst Review
In the context of urbanization and increasing water demand, the Smart Water Network market emerges as a crucial solution to address water scarcity and aging infrastructure. This market encompasses advanced digital technologies such as the Internet of Things (IoT), AI, and Cloud computing, which enable real-time data collection and analysis of water quantity, pressure, and flow.
Smart systems, including Digital twins and sensors, help identify leaks, optimize efficient irrigation, and minimize water loss due to pollution and wastewater runoff. Furthermore, smart water networks play a vital role in mitigating the impacts of floods and droughts by ensuring optimal water distribution and maintaining water quality.
Overall, the integration of smart water networks into urban water management systems is a significant step towards sustainable water resource management.
Market Overview
The Smart Water Network Market is a significant sector in the technology-driven water industry. Urbanization and the growing demand for efficient water management systems have fueled its expansion. Smart water systems employ technologies like sensors, IoT, and analytics to monitor water quality and consumption in real-time.
These systems enable utilities to detect leaks, optimize water distribution, and reduce non-revenue water losses. Moreover, they help in ensuring regulatory compliance and maintaining consumer satisfaction. The market is expected to grow at a robust pace due to increasing water scarcity, stringent regulations, and technological advancements. Companies like Urbana Technologies, WateReus, and Sensoneo are leading innovators in this space.
Their solutions cater to various applications, including water distribution networks, wastewater treatment plants, and industrial processes. The future of the Smart Water Network Market lies in the integration of AI and machine learning for predictive analytics and automation.
Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
- Technology
- Smart Meter
- Monitoring And Control
- Communication Network
- Data Management
- Geography
- Europe
- North America
- APAC
- MEA
- South America
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
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Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
