According to the recent study the smart water management market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 10% to 12% from 2023 to 2028. Growth in this market is primarily driven by growing need for reducing water loss, technological advancement, increasing population, and rapid urbanization.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in smart water management market by offering (water meters, solutions, and services), automation solution (water quality and quantity monitoring, asset management, advanced water treatment and automation, pressure control and leakage detection, analytics and data management, and others), end use industry (commercial and industrial, residential, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
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“Solutions market is expected to remain the largest segment during the forecast period.”
Based on offering, the smart water management market is segmented into water meters, solutions, and services. Lucintel forecasts that the solutions market is expected to remain the largest segment due to the rising awareness of the quality of water, scarcity of natural freshwater resources, and technological developments over time.
“Within the smart water management market, the commercial and industrial segment is expected to remain the largest end use industry”
Based on end use industry the commercial and industrial segment is expected to witness the highest growth over the forecast period due to the increasing implementation of cost-effective solution, reduced water expenses, and growing requirement for maintaining water quality and pressure.
“Asia pacific will dominate the smart water management market in near future”
APAC will remain the largest region due to the increase in the adoption of smart grid solutions, rise in population, and rising awareness of clean and safe water supply in the region
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Major players of smart water management market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. ABB, Arad Group, AquamatiX, Badger Meter, HydroPoint, IBM Corporation, and i2O are among the major smart water management providers.
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