The North America Smart Water Management Market would witness market growth of 8.9% CAGR during the forecast period (2021-2027).
Buyers are highly demanding meters that utilize two-way communication, due to their various advantages such as system monitoring & control, and time-based synchronized meter readings. Additionally, these sophisticated two-way systems assist users with an infrastructure that complements system integration with third-party devices like security, pressure, and quality sensors, and remote shut-off valves.
Also, remote sensing technologies and GIS, GPS, and satellite radio communication systems are beneficial in recognizing freshwater resources and examining environmental problems. Currently, smart metering is being installed quickly across the industrial sector and provides new opportunities to manage utilization & allocation efficiently and manage systemic operational inefficiencies in emerging regions.
As the region is home to some of the major market players, the regional market is likely to witness bright growth prospects in the upcoming years. Factors such as fast-paced urbanization creating massive pressure on water utilities for quality and constant water supply and associated services, the growing adoption rate of sophisticated technologies for developing smart solutions to fulfill the increasing number of challenges in the water industry are acting as growth catalysts for the regional market.
The Professional Services market dominated the North America Services Market by Type 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1,772 million by 2027. The Managed Services market is experiencing highest CAGR of 11.6% during (2021 - 2027).
Based on Component, the market is segmented into Solution, Water Meters, and Services. Based on End User, the market is segmented into Commercial & Industrial and Residential. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Smart Water Management Market is Estimated to reach $23.46 billion by 2027, at a CAGR of 10.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Oracle Corporation, Schneider Electric SE, Xylem, Inc. (Sensus), Siemens AG, ABB Group, Itron, Inc., Landis+Gyr Group AG, Honeywell International, Inc., and Badger Meter, Inc.
By Component
By End User
By Country
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