(PR Web Via Acquire Media NewsEdge) (PRWEB) November 29, 2013
MarketsandMarkets recently conducted a study on the "Smart Water Management Market - Smart Water Meters, EAM, Smart Water Networks, Analytics, Advanced Pressure Management, MDM, SCADA, Smart Irrigation Management, Services - Worldwide Market Forecasts and Analysis (2013 – 2018) ", which analyzed and studied the major market drivers, restraints, and opportunities in North America (NA), Europe, Middle East and Africa (MEA), Asia Pacific (APAC), and Latin America (LA).
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The study reports that the Smart Water Management (SWM) market is expected to grow from $5.43 billion in 2013 to $12.03 billion in 2018, at an estimated Compound Annual Growth Rate (CAGR) of 17.2 percent from 2013 to 2018. The North American region is expected to be the prime market for SWM in terms of revenue contribution.
The report broadly subsegments the SWM market by devices: one-way (Automated Meter Reading (AMR)) water meters, two-way (Advanced Metering Infrastructure (AMI)) water meters; solutions: Enterprise Asset Management (EAM) for water and wastewater utilities, water distribution network monitoring, advanced pressure management, Supervisory Control and Data Acquisition (SCADA), advanced analytics, Meter Data Management (MDM), residential water efficiency software, smart irrigation management systems; and by services: valve management, pipeline condition assessment, hydrant management, and information management.
The report also draws the competitive landscape of the SWM market, providing an in-depth comparative analysis of the technological and marketing strategies that the key players are adopting in order to gain an edge over their competitors. The key strategies followed by most of the companies in the SWM market are innovative technologies and cloud-based solutions which defer capital expenditure and customized solutions for water utilities. Some of the major players in this market are GE, Schneider Electric, Siemens, IBM, and ABB. These vendors are specialized and established in providing process automation and control solutions for water and wastewater utilities. Oracle, Ventyx, and IBM are prominent players in providing EAM and advanced analytics solutions to water and wastewater utilities. Some key players such as TaKaDu and i2O Water are also emerging in the water distribution network monitoring and advanced pressure management domain respectively. Companies such as Arad Group, Itron, Elster, Sensus, and PowerCom are the key players in manufacturing reliable advanced water meters and deploying robust AMI systems for water.
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