Smart Water Management Market By Offering and By Region- Global Opportunities and Forecast, 2020-2027
Global Smart Water Management Market
The GMI Research report anticipates a robust growth in the Smart Water Management Market over the forecast period. This is because of the accelerating penetration of Internet of Things and intensified capital investment.
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Smart Water Management Market Dynamics
The augmenting demand to attain data in a digitalised format, primarily utilities and the mounting demand for sustainable solutions are the guiding forces contributing to the growth of the global smart water management market. Also, the increasing matured infrastructure will strengthen the market size. The accelerating population rate with a surge in rural to urban migration has stimulated the demand for freshwater. Thus, it has propelled the market growth as these systems have the ability to save energy consumption and interpret flow, distribution of water, and pressure. Furthermore, the rising integration of internet of things-based technology, such as smart supervision, mobile technology, and the ongoing modernisations in technology used to scrutinize water treatment systems and manage water on a real-time basis will generate huge opportunities for the market.
Besides this, the emergence of incorporated mobile technology to supervise pumps through a distance and recognise any leakage or failure effectively has propelled the market share. The accelerating number of smart cities has raised the demand for smart water meter management to administer water usage. However, shorter lifespan of smart meters and lack of competent workforce will obstruct the Smart Water Management Market size.
Offering Segment Drivers
Based on the Offering, the solution segment is projected to seize the highest share in the global smart water management over the coming years. This is because of the rising endorsement of several solutions such as data management, safety, enterprise asset management, and smart irrigation among the end-users. The software is extensively acquired by end-user s to proffer real time administration of data and predictive maintenance of assets which strengthens the Smart Water Management Market share.
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