Global Smart Water Management (SWM) Market Size, Status and Forecast 2021-2027

The global Smart Water Management (SWM) market size is projected to reach US$ 5739.3 million by 2027, from US$ 2494.3 million in 2020, at a Compound Annual Growth Rate (CAGR) of 12.5% during 2021-2027. Increasing scarcity, quality issues, climate volatility and rising energy risks along with aging infrastructure are expected to favorably impact the industry growth.

 

 

Smart Water Management (SWM) uses Information and Communication Technology (ICT) and real-time data and responses as an integral part of the solution for water management challenges.

 

Intelligent and effective management of water is expected to be a key problem in recent times. Water stress, a rising situation due to the demand, pollution, and unequal resources is expected to accelerate the growth of the smart water management market size.

It is expected that the development of the IoT, smart cities across different locations will fuel the smart water management market size. Smart meter-related technical developments and their incorporation with communication solutions such as SCADA and GIS have transformed water management systems to overcome the challenges faced by erroneous billing and water management by water providers, people, and industries.

Expensive initial investment requirements and low return rates are the main constraints faced by smart water management. In addition, the demand for smart water management is slowly growing due to the lack of knowledge and talent supply. However, smart water management is entitled to the vast potential for substantial financial savings related to water utilities.

 

Based on the region, North America is expected to hold the largest market share. This dominance of North America is attributed to the adoption of advanced meter infrastructure technology by various organizations.

The APAC region is undergoing rapid market growth. Many Asian countries, such as China, Japan, and India, are leveraging information-intensive technologies to meet the rising demand for the water utility sector. APAC is, therefore, expected to display promising opportunities to deploy smart solutions for water management.

 

Smart Water Management (SWM) market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Smart Water Management (SWM) market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by Type and by Application in terms of revenue and forecast for the period 2016-2027.

Report Metric	Details
Report Name	Smart Water Management (SWM) Market
The market size in 2020	USD 2494.3 Million
The revenue forecast in 2027	USD 5739.3 Million
Growth Rate	Compound Annual Growth Rate (CAGR) of 12.5% from 2021 to 2027
Market size available for years	2021-2027
Forecast units	Value (USD)
Segments covered	Type, End-User, Offerings, and Region
Report coverage	Revenue & volume forecast, company share, competitive landscape, growth factors, and trends
Geographic regions covered	North America, Europe, Asia Pacific, Latin America, Middle East & Africa