According
to a new study by Grand View Research, Inc., water management has emerged as a
significant priority for governments and water utilities, which is expected to
fuel the global smart water management market. Infrastructure revitalization,
growing population, fluctuating climate, and rise in water shortage issues are
also some of the key forces driving market growth. Although water management
and conservation practices are continuously evolving, the aforementioned forces
have spurred demand for smart technology solutions for more efficient and
sustainable water systems.
Technological
advancements enable water utility operators to proactively control and mange
distribution systems and enhance efficiency, which is expected to favorably
impact the market. Proliferation of cloud-based solutions to monitor
distribution networks provides opportunities for market growth. Concerns among
water utilities regarding adoption of these solutions may pose a challenge to
the market. Low adoption of smart water management systems by several water
utilities owing to high investments is also expected to hinder market growth.
In depth research report on Smart Water Management
Market
Further key findings from the study suggest:
·
Devices accounted for over 35%
of the overall smart water management market, and emerged as the most dominant
segment in 2013. Solutions are expected to be a high growth segment, which can
be attributed to the development of cloud-based solutions for efficient
monitoring of distribution networks.
·
Increasing adoption of cellular
network technology in Automatic Meter Reading (AMR) is expected to drive market
growth. The segment is also expected to grow faster than the global average
over the next few years.
·
On account of favorable
government initiatives including incubation facilities, financial incentives
and demonstration sites, North America was leading regional market in 2013.
Increasing investments in the U.S. water sector is expected to positively
impact regional market growth over the forecast period.
·
Key market participants include
Schneider Electric, Sensus, General Electric, IBM Corporation and ABB Ltd.
Strategic partnerships due to high investments and increasing competition are
expected to be key growth strategies over the next six years.
For
the purpose of this study, Grand View Research has segmented the global smart
water management market on the basis of component, technology and region:
Smart Water Management Component Outlook (Revenue,
USD Million, 2012 – 2020)
·
Devices
·
Solutions
·
Services
Smart Water Management Technology Outlook (Revenue,
USD Million, 2012 – 2020)
Cellular
Network
Fixed
Network
Smart Water Management Regional Outlook (Revenue,
USD Million, 2012 – 2020)
·
North America
·
Europe
·
Asia Pacific
·
RoW
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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