Smart Water Grid Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
Global Smart Water Grid Market – Snapshot
The global smart water grid market is foreseen to experience its development prodded on the back of the prerequisite of managing old infrastructure, rise in information and communication technology (ICT), gap between supply and demand, water shortage, and several other factors. So as to guarantee smooth supply of water and keep a tab on its equal supply, smart water grid technology is expected to be introduced all over the globe. The demand for establishment could rise because of wrong bills issued by organizations. Smart water grid encourages customers to have control over water supply.
Distribution management of water could be maintained, tracked successfully, and checked remotely and at a consistent pace as smart water grid is incorporated with ICT. The market for smart water metering is anticipated to pick up pace with the usage of stringent rules for the control and protection of distribution network.
The world smart water grid market offers distinctive advancements, including analytical software and ICT, design and construction, smart infrastructure, and automation and control. Used to check a balanced water supply market activity, automation and control is expected to be one of the often-used techniques for smart water grid. Minimal mistakes in showing precise utilization with the utilization of digitalization could encourage control and automation to affirm relentless development in coming years. By and by, analytical software and ICT is also foreseen to project a solid development inferable from surge in water shortage and rise in installation of such sorts of smart water grid.
In any case, absence of monitoring support, government activities, and enormous capital investment could hamper the development of the global smart water grid market. In any case, the utilization of various smart water grid methods for accomplishing required energy proficiency in the commercial, utilities, and residential sectors is foreseen to make plenty of scopes in the market.
Global Smart Water Grid Market: Overview
The global smart water grid market is prognosticated to witness its growth spurred on the back of the requirement of managing aging infrastructure, advancement in information and communication technology (ICT), disproportion of supply and demand, water scarcity, and other factors. In order to ensure smooth supply of water and keep a tab on distribution, smart water grid could be commonly installed across nations. The need for installation could increase due to inaccurate bills issued by agencies. Smart water grid helps users to have control over water distribution.
Distribution management could be effectively tracked, maintained, and monitored remotely and at a constant pace as smart water grid is integrated with ICT. The market for smart water metering is expected to gain momentum with the implementation of stringent guidelines for the regulation and preservation of circulation network.
Global Smart Water Grid Market: Trends and Opportunities
The world smart water grid market offers different technologies, including design and engineering, ICT and analytical software, control and automation, and smart infrastructure. Used to ensure balanced water supply and demand, control and automation could be one of the frequently used technologies for smart water grid. Marginal errors in displaying accurate consumption with the use of digitalization could help control and automation to testify steady growth in the near future. Nevertheless, ICT and analytical software could exhibit strong growth owing to rapid rise in water scarcity and increasing installation of such types of smart water grid.
However, lack of government initiatives, absence of monitoring support, and massive capital investment could hinder the growth of the world smart water grid market. Nonetheless, the use of various smart water grid technologies for achieving required energy efficiency in the utilities, commercial, and residential sectors is anticipated to create ample of opportunities in the market.
Global Smart Water Grid Market: Market Potential
In Telangana, India, Hyderabad’s water board has been putting in efforts to give it a smarter look as it awaits completion of the Outer Ring Road (ORR) and peripheral water supply projects. While water contamination and delayed water supply still remain as unresolved issues, the managing director of the board says that the city is making its way toward achieving surplus water availability. When asked about its best foot forward for smart water management, the board points out the need for smart water grid. Water pipelines extending up to 3,000 km currently form a water grid in peripheral areas. However, 12,000 km would be added by September or October, 2018 as part of a grid.
Global Smart Water Grid Market: Regional Outlook
Especially in areas affected by drought, countries such as India and Saudi Arabia need to prioritize water wastage and conservation, which could increase the need for smart water grid in the coming years. In case of distribution, the use of smart water grid has brought about a drastic change in developing countries in recent years. Global market growth is envisaged to gain impetus with the implementation of reformed and large-scale processes by administrators, workers, and commercial bodies.
North America is one region prophesied to set the tone for valuable growth in the international smart water grid market with its leading share. Factors such as disputes over customer benefits, need to reduce billing errors, and the advent of advanced technologies could help the developed region to make its presence known in the market. On the other hand, Asia Pacific is foreseen to register an impressive CAGR between 2017 and 2025.
Global Smart Water Grid Market: Competitive Landscape
Top companies such as Diehl Stiftung & Co. KG, Landis+Gyr, Neptune Technology, Siemens AG, and Itron, Inc. are involved in a hard-bitten competition in the international smart water grid market. They have been largely investing in the market looking at the rise of advanced technologies and increasing focus on infrastructure upgrade, monitoring, and distribution.
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Latest Trends and Cardinal Growth Prospects
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Existing and Future Insights in Growth
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Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
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This report is the key to questions such as:
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Which factors will hinder the growth of the market?
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