Smart Water Management Market-Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2013 - 2019
Albany, NY -- (SBWIRE) -- 06/03/2015 -- Aging Water Infrastructure to Drive Global Smart Water Management Market
Aging pipe networks in several established cities are driving the demand for better water mains. For example, in London, approximately 40% of the pipes are over 100 years old. Furthermore, according to the District of Columbia Water and Sewer Authority, the average age of the city's water pipes was 76 years.
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This shows how great the need is to replace existing water management systems with smarter, better water management systems. Increasing government compliance along with the aging water infrastructure will drive the global smart water management (SWM) market. The global smart water management market will demonstrate a marked compound annual growth rate (CAGR) of 17.7% during the forecast period of 2013-2019, says a market research firm. The market was valued at US$4,813.3 million in 2012 and is projected to reach a value of US$15,232.6 million by 2019.
High Cost Associated with Hardware Installation to Suppress SWM Market
The global smart water management market will also benefit from the growing need for mapping water resources. Furthermore, the need to cut down on water loss and non-revenue water (NRW) will drive the market. In addition to this, the lack of water management systems in urban areas will provide good growth opportunities for the global smart water management market.
The global smart water management market is divided by meter-read technology into fixed technology and cellular technology. On the basis of component, the global smart water management market is segmented into hardware (AMI, AMR, and others), solutions, and services. The high cost associated with AMI installation will suppress the market. Moreover, the apprehension of water utilities towards adoption of cloud services will also suppress the global smart water management market's growth.
In spite of the high cost of AMI, the hardware segment in the global smart water management (SWM) market will continue to dominate the industry throughout the forecast period. In 2012, the hardware segment held the largest share, of 40.1%, in the global smart water management market.
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North America to Lead Global Smart Water Management Market
Geographically, the global smart water management market is divided into North America, Asia Pacific, Rest of the World (RoW), and Europe. At present, North America rules the global smart water management market due to the high investments in smart water management technologies to curb water loss and optimize the NRW by several water utilities across the region. In 2012, North America generated 47.5% of total revenue generated in the global smart water management market.
On the other hand, Asia Pacific is predicted to demonstrate the highest CAGR of 23.7% during the forecast period. Factors such as higher rainfall variability, aging facilities, need for palatable and safe water, and presence of countries rich in water resources will drive this regional smart water management market.
The global smart water management market is fragmented in nature with the presence of local players across various regions. A massive 67.1% of the global smart water management market was held by regional and local companies. Notable players in the global smart water management market include ABB, Arad Metering Technologies, Schneider Electric, Sensus USA, General Electric Company, I20 Water, and TaKaDu.
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