Published Date: 22-Dec-2021
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According to a new report Global Smart Water Management Market, published by KBV research, The Global Smart Water Management Market size is expected to reach $23.46 billion by 2027, rising at a market growth of 10.4% CAGR during the forecast period.
Based on Water Meters, the Smart Water Management Market is bifurcated into AMR Meters and AMI Meters. AMR Meters segment showcased the highest market share. AMI Meters segment would display a prominent growth rate over the forecast years. AMI refers to a network-based technology that utilizes two-way communication to transfer data from water meters to a remote metering master office, offering the same kinds of advantages to AMR systems.
The residential segment would showcase a promising growth rate in the market during the forecasting years. Factors such as massive demand for freshwater in residential areas owing to the drastic rise in global urban population, shifting lifestyle patterns, and changing eating habits resulting in increased water consumption are responsible for the growth of this segment.
North America would garner the maximum revenue share of the market during the forecasting period. The regional market is witnessing rapid adoption of smart water management solutions to tackle the effects of climate change, water utilization patterns, and the management of new man-made contaminants.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of IBM Corporation, Oracle Corporation, Schneider Electric SE, Xylem, Inc. (Sensus), Siemens AG, ABB Group, Itron, Inc., Landis+Gyr Group AG, Honeywell International, Inc., and Badger Meter, Inc.
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