Amid Advancing Smart City Projects the Smart Water Grid Market will reach US$ 101,248.3 Mn by 2032 - Future Market Insights, Inc.

China Smart Water Grid Market is expected to witness prolific growth at a CAGR of 18.9% between 2022 to 2032. Schneider, Toshiba, and Itron: Smart Water Grid Technology Leaders Collaborate with Governments to Improve Water Quality and Reduce Wastage. Smart infrastructure is the most sought-after technology in the smart water grid market

NEWARK, Del., Sept. 19, 2022 /PRNewswire/ -- The global smart water grid market is projected to reach a value of US$ 101,248.3 Mn in 2032, with sales growing at a stellar CAGR of 16.8% over the forecast period of 2022 to 2032. Climbing up from a value of US$ 18,664.5 Mn in 2021, the smart water grid market will reach an estimated US$ 21,426.9 Mn by the end of 2022. Smart water grids are cost-effective, reliable, efficient, and save time and energy. These properties of the product propel the demand for the same. The growing awareness about water conservation and safety maintenance of water distribution further contribute to the adoption of smart water grids over the forecast period.

Smart water grids are networks of interconnected devices that can collect and share data with other devices and data centers. Smart water grids are gaining more and more popularity with the trend of developing smart cities. The prevalence of smart city projects, particularly in emerging economies, is a primary growth driver for the smart water grid market. With about 200 ongoing smart city projects across the world, urban water infrastructure has been gaining more and more attention. These infrastructures are transforming and improving with the installation of smart water grids.

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Furthermore, due to sustainability drives and to improve the standard of living through effective use of scarce resources, countries across the world are turning to technological tools such as IoT and other information & communication tools. This empowers cities to meet the escalating demand for water by establishing a network of smart water grids along water distribution pipes. Moreover, these grids also help in maximizing water conservation efforts and optimize the efficiency of water distribution systems. All of these factors stimulate an environment of growth for the smart water grid market over the projected period.

Though the smart water grid market has a bright future ahead, it is not without its share of challenges. High initial installation cost and unavailability of this technology in various low and middle income countries will likely stunt the rapid growth of this market.

"Rising adoption of smart water grids to reduce carbon footprints and to improve financial savings and water utilities will propel the market growth of the product over the forecast period," says an FMI analyst. 

Key Takeaways:

• Need for sustainable urban water management to generate lucrative opportunities.
• In 2022, the U.S. will account for about 23.7% of the global market share.
• China is predicted to exhibit an astounding CAGR of 18.9% during the forecast period.
• Smart infrastructure segment to hold about 3/5th of the overall market sales.
• In terms of application, commercial application is predicted to dominate the market.

Competitive Landscape 

Xinapse Systems Ltd, Prezi Inc., ICT, co., Ltd., Wetsus, The Whitmore Group, ABB Group, Arqiva, Toshiba Corporation, Neptune Technology Group Inc., Schneider Electric, Badger Meter, Inc., Itron Inc., Sensus Worldwide Holdings Ltd., and Siemens AG among others are some of the major players in the smart water grid market that are profiled in the full version of the report.

Major market players are concentrating on innovations and enhancements to strengthen their position in the market. Some of these enterprises are partnering up with leading logistics firms and government agencies to provide high quality and durable products.

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Key Segments Covered in Smart Water Grid Market Analysis

Technology:

• Smart Infrastructure
• Control & Automation
• ICT & Analytical Software
• Design & Engineering

Application:

• Residential
• Commercial
• Utility

Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East & Africa

More Insights into Smart Water Grid Market Report

In its latest report, FMI offers an unbiased analysis of the global smart water grid market, providing historical data from 2012 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and range, the market is segmented on the basis of technology (smart infrastructure, control and automation, ICT & analytical software, design and engineering), application (residential, commercial, utility), and region.

According to the latest FMI reports, based on region, the smart water grid market in the United States is anticipated to present impressive growth over the forecast period. The country will account for 23.7% of the total market share in 2022. This growth can be attributed to heightened demand for clean and safe drinking water and increasing water conservation efforts. Apart from the U.S., China and India will also experience considerable market growth during 2022 to 2032. Favorable government policies regarding better water management systems will drive the market growth in China while development of smart city projects will facilitate major profit in India.

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Based on segmentation, by technology, the smart infrastructure segment will likely create a US$ 50,248.9 Mn market opportunity by 2032. The commercial sector will register the highest application of smart water grid during 2022 to 2032. 

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand Side Trends

    1.3. Supply Side Trends

    1.4. Technology Roadmap

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Key Market Trends

    3.1. Key Trends Impacting the Market

    3.2. Product Innovation / Development Trends

4. Key Success Factors

    4.1. Product Adoption / Usage Analysis

    4.2. Product USPs / Features

    4.3. Strategic Promotional Strategies

5. Global Smart water grid Market Demand Analysis 2012 - 2021 and Forecast, 2022 - 2032

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About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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