Smart Water Management Market to USD 14.48 billion from 2022 to 2027 | The growing demand for smart water management in the agriculture sector to boost growth- Technavio

NEW YORK, Oct. 9, 2023 /PRNewswire/ -- The smart water management market by end-user (commercial and industrial and residential), product (solutions, hardware, and services), and geography (North America, Europe, APAC, South America, and Middle East and Africa) - Forecast and Analysis 2023-2027 report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the smart water management market between 2022 and 2027 is USD 14.48 billion. The growing demand for smart water management in the agriculture sector drives market growth. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy full report here

Smart water management is a vital component of precision agriculture, where technology is leveraged to optimize farming practices at a granular level. This includes data-driven decisions for planting, fertilizing, and harvesting. Some of the main factors that are significantly fuelling the demand for smart water management in the agriculture sector include the need to address water scarcity, optimize irrigation practices, enhance crop yield and quality, and promote sustainable farming practices. Hence, such factors are positively impacting the market during the forecast period. Learn about additional key drivers, trends, and challenges available with Technavio. Read Sample PDF Report Now

• Market Challenge - High initial investment costs challenges the market growth during the forecast period. It has become difficult for various organizations and municipalities to implement smart water management systems due to the high initial investment costs related to them. This cost includes various components, technologies, and considerations that add up to the overall expense. Furthermore, there is a significant investment in hardware, sensors, software, and infrastructure. Hence, such factors are negatively impacting the market, which, in turn, will hinder the market growth during the forecast period. 

The smart water management market is segmented by End-user (Commercial and industrial and Residential), Product (Solutions, Hardware, and Services), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). 

• The market share growth of the commercial and industrial segment is significant during the forecast period. Ensuring safe and clean water is one of the essential aspects of maintaining public health. As a result, there is a growing adoption of smart water management solutions as they can continuously monitor water quality parameters, detect contamination, and trigger alerts when quality standards are compromised. In addition, there is an increasing awareness regarding the requirement for efficient and sustainable water usage which is boosting the high demand for smart water management in industrial settings. Hence, such factors are fuelling the growth of the segment and driving the market growth during the forecast period.
• By Geography, North America accounts for 35% of the growth of the global market during the forecast period. View Free Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the Smart Water Management Market:

ABB Ltd., Aquamatix Ltd., Badger Meter Inc., Cisco Systems Inc., General Electric Co., Honeywell International Inc., HydroPoint Data Systems Inc., International Business Machines Corp., Itron Inc., Landis Gyr AG, Oracle Corp., Schneider Electric SE, Siemens AG, SUEZ SA, and TAKADU LTD

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-user

Market Segmentation by Product

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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.

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SOURCE Technavio