Digital Water Solutions Market Size was valued at USD 0.8 Billion in 2022. The Digital Water Solutions market industry is projected to grow from USD 0.92 Billion in 2023 to USD 2.81 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 15.00% during the forecast period (2024 - 2032). Managing scarce water resources, ageing water infrastructure, maintaining to regulations, cutting costs and improving efficiency in operation, are the key market drivers enhancing the market growth.
Figure 1: Digital Water Solutions Market Size, 2023-2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The requirement for efficient resource management in the face of water shortage is a major driving force behind the market for digital water solutions. Water resources are under a lot of stress due to urbanisation and the rising population. As a result, there is a greater understanding of the value of effective water management and the pressing need to solve water shortages. Digital water solutions offer cutting-edge tools and technology that improve the monitoring, evaluation, and exploitation of water resources. These technologies assist water utilities and authorities in gaining immediate knowledge about water supply, trends of use, and shifts in demand. They can monitor water use, find leaks, and spot locations with excessive usage or waste by utilising IoT devices, sensors, and data analytics.
Water utilities can make educated judgements and put policies for water efficiency and conservation into action when they have access to accurate and timely data. Digital water technologies make it possible to manage water resources proactively by spotting potential problems and enabling quick responses. Predictive analytics, for instance, can forecast water demand, allowing utilities to better distribute resources and prevent shortages. Digital water solutions also make it easier to combine different water sources and encourage the use of non-conventional water sources including desalination, rainwater harvesting, and reclaimed water. These strategies help to lessen reliance on finite freshwater reserves by maximising the use of accessible water sources. Thus, driving the Digital Water Solutions market revenue.
The Digital Water Solutions market segmentation, based on Technology includes Metering & Customer Management, Network Management, Work & Asset Management, Plant Management and Information Management. The metering & customer management segment dominated the market, accounting for 37% of market revenue. The Metering & Customer Management works to better revenue management, boost customer service, and encourage water conservation.
The Digital Water Solutions market segmentation, based on Solution Type, includes Hardware, Software and Services. The software segment generated the most income (41.12%). The huge amount of data produced by water infrastructure and metering equipment is collected, stored, and managed via software platforms.
Figure 2: Digital Water Solutions Market, by Solution Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Digital Water Solutions market segmentation, based on Utility Tier includes Tier 1, Tier 2 and Tier 3. The Tier 1 segment dominated the market, accounting for 38.23% of market revenue. When making strategic decisions, Tier 1 utilities could be investing resources on data management platforms, big data analytics, and business intelligence technologies to collect, combine, and analyse data from diverse sources.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Digital Water Solutions Market dominated this market in 2022 (45.80%). The solutions that are most common prefer to be those involving advanced metering infrastructure (AMI), leak detection, data analytics, and customer engagement. Optimizing water use, cutting non-revenue water, and enhancing customer service are frequently the main priorities and contribute to regional industry expansion. Further, the U.S. Digital Water Solutions market held the largest market share, and the Canada Armor Materials market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: Digital Water Solutions Market Share By Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Digital Water Solutions market accounts for the second-largest market share. European nations place a strong emphasis on effective resource management, following the law, and using sustainable water practices. Further, the German Digital Water Solutions market held the largest market share, and the UK Digital Water Solutions market was the fastest growing market in the European region.
The Asia-Pacific Digital Water Solutions Market is expected to grow at the fastest CAGR from 2023 to 2032. Because of its fast urbanization, rising population, and problems with water scarcity, the Asia-Pacific area has severe water management concerns. As a result, there is a rising need for products for network management, water treatment, water metering, and water loss reduction. Moreover, China’s Digital Water Solutions market held the largest market share, and the Indian Digital Water Solutions market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Digital Water Solutions market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Digital Water Solutions industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Digital Water Solutions industry to benefit clients and increase the market sector. In recent years, the Digital Water Solutions industry has offered some of the most significant advantages to medicine. Major players in the Digital Water Solutions market, including Bentley systems (US), Innovyze (US), Schneider Electric (France), Minsait, Atonix Digital (US), Plutoshift (US), Assetic (Australia), ABB (Switzerland), Space-Time Insight (US), Aqueduct (US), PowerPlan (US), Copperleaf Technologies (Canada), Intelliflux Controls (US), TaKaDu (Israel), and Analytical Technology, Inc. (US) and others, are attempting to increase market demand by investing in research and development operations.
Bentley Systems, based in the United States, is a renowned company specializing in software solutions and digital twin technology for infrastructure design, construction, and operations. With a strong presence in the Digital Water Solutions market, Bentley Systems offers a comprehensive suite of software solutions tailored to address the unique challenges faced by water utilities and enable efficient management of water infrastructure. In the Digital Water Solutions market, Bentley Systems stands out as a leading provider of advanced software solutions designed specifically for the water industry. Their services include design, building, operation, and maintenance across the full water lifespan. Water utilities are given the tools and skills they need by Bentley Systems, which focus on digital transformation, to streamline operations and improve overall performance. Applications covering a wide range of water management needs are available in Bentley's software portfolio. Their technologies offer real-time data integration, hydraulic modeling, network analysis, and leak detection capabilities, enabling utilities to efficiently manage their water distribution networks. This enables utilities to raise operational effectiveness, reduce water losses, and increase network performance. The digital twin technology from Bentley Systems, known as iTwin, is one of their noteworthy innovations. Using real-time data, sensor data, and historical records, this creative solution enables utilities to produce virtual versions of their water infrastructure assets.
Schneider Electric, headquartered in France, is a leader in energy management and automation solutions, with a significant presence in the Digital Water Solutions market. The business provides a wide selection of goods, programmes, and services that help water utilities optimise their processes, raise productivity, and increase sustainability. Schneider Electric offers cutting-edge options for water management in the market for digital water solutions. Their products and services deal with several facets of the water lifecycle, such as distribution, treatment, and wastewater management. Advanced supervisory control and data acquisition (SCADA) systems, remote terminal units (RTUs), telemetry systems, and smart sensors are some of Schneider Electric's offerings for the market for digital water solutions. By allowing utilities to monitor and manage their water infrastructure in real-time, these technologies provide effective operations and prompt reaction to urgent situations. In addition, Schneider Electric provides software programmes for network administration, asset performance enhancement, and data analysis. Their software platforms give utilities the ability to gather, analyse, and interpret data from sensors and other sources, giving decision-makers and preventive maintenance techniques useful information.
August 2021:Â Bentley Systems Inc. used drones to automate inspection of 5G towers. With an extremely high level of accuracy, the drone records the specifics of tower components including bolts, ladders, and wires. By digitising physical infrastructure, dual sensor technology creates 3D engineering grade asset intelligence.
November 2020:Â Innovyze, Inc. presented Infodrainage, a tool for designing sustainable drainage that is the next generation. It starts a new chapter by making it quicker and simpler to get planning approval and by decreasing the need for design rework, which saves time and money.
February 2020: Plutoshift, Inc. announced information on the Intelligent Automation in Oil & Gas Summit's sponsorship. In order to significantly increase revenue, control operational risk, and promote enterprise operational excellence, it is beneficial to use intelligent automation solutions in the field.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 0.8 Billion |
| Market Size 2023 | USD 0.92 Billion |
| Market Size 2032 | USD 2.81 Billion |
| Compound Annual Growth Rate (CAGR) | 15.00% (2024-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018-2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Technology, Solution Type, Utility Tier and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Bentley systems (US), Innovyze (US), Schneider Electric (France), Minsait, Atonix Digital (US), Plutoshift (US), Assetic (Australia), ABB (Switzerland), Space-Time Insight (US), Aqueduct (US), PowerPlan (US), Copperleaf Technologies (Canada), Intelliflux Controls (US), TaKaDu (Israel), and Analytical Technology, Inc. (US) |
| Key Market Opportunities | Smart Metering and Advanced Metering Infrastructure (AMI), Data Analytics and Predictive Maintenance, Water Quality Monitoring and Management |
| Key Market Dynamics | Increasing Adoption of Smart Water Management Technologies |
Digital Water Solutions Market Highlights:
Frequently Asked Questions (FAQ) :
The Digital Water Solutions market size was valued at USD 0.8 Billion in 2022.
The market is projected to grow at a CAGR of 15.00% during the forecast period, 2024-2032.
North America had the largest share in the market.
The key players in the market are Bentley systems (US), Innovyze (US), Schneider Electric (France), Minsait, Atonix Digital (US), Plutoshift (US), Assetic (Australia), ABB (Switzerland), Space-Time Insight (US), Aqueduct (US), PowerPlan (US), Copperleaf Technologies (Canada), Intelliflux Controls (US), TaKaDu (Israel), and Analytical Technology, Inc. (US).
The Metering & Customer Management category dominated the market in 2022.
The Software had the largest share in the market.
Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
