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.
Request a Sample PDF @
https://www.futuremarketinsights.com/reports/sample/rep-gb-5376
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.
Ask Us Your Questions About This Report @
https://www.futuremarketinsights.com/ask-question/rep-gb-5376
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.
Get Customization on this Report for Specific Country @
https://www.futuremarketinsights.com/customization-available/rep-gb-5376
About Us
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact Us:
Future Market Insights,
Unit No: 1602-006,
Jumeirah Bay 2,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers,
Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com