Water has always been a crucial part of our lives, and due to pollution and contamination this critical element in terms of safe drinking water is replenishing. Nowadays, due to global warming, water quality and quantity monitoring in real time has become a challenge, and the growing population is left with limited water resources. Hence, there is a critical need for developing better methodologies for smart water monitoring (quality and quantity parameters) in real time. Smart Water Monitoring is such a solution which facilitates the monitoring of water quality, and helps in providing safe water to the population across globe. Smart Water Monitoring market is expected to have a potential growth during the forecast period, because of the daily requirement for control of quality and quantity through smart water monitoring techniques in future years. Smart Water Monitoring is not only limited to large water plants and water utilities, but is also used at residential and corporate levels. Moreover, the focus towards conserving water provides better opportunities to Smart Water Monitoring market. And practice of purifying the water before its usage is growing, which in turn is driving the market for Smart Water Monitoring in the forecast period. With such an increasing inclination towards using safe water, the market for Smart Water Monitoring solutions is expected to have substantial growth opportunity over the forecast period promoting the growth of Smart Water Monitoring Market.
Smart Water Monitoring Market: Drivers and challenges
During the forecast period, with the increase of public awareness towards health, middle income people in their homes are also expected to use the Smart Water Monitoring devices. Also, need of water conservation makes people to use Smart Water Monitoring devices. Moreover, the government is focusing on smart cities, due to which the Smart Water Monitoring market is expected to have a potential growth at commercialized level. Also, smart homes projects promotes the growth of the Smart Water Monitoring Market. Some factors such as; increase in disposable income and per capita spending are expected to grow the Smart Water Monitoring market. Also the growing public awareness toward health, is expected to drive the Smart Water Monitoring market. Also, rise in the standard of living influences the Smart Water Monitoring Market. Additionally, water utilities are under pressure to provide good quality water but are struggling with their outdated infrastructure, and this challenge can be resolved with use of Smart Water Monitoring solutions. Thus, the Smart Water Monitoring solutions are expected to replace that conventional water monitoring technologies and providing the potential opportunities to Smart Water Monitoring Market.
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Furthermore, with an increase focus on IoT concept, Smart Water Monitoring market is expected to have double-digit growth in the forecast period. Also, the growth of the electronic sensors gives substantial growth to Smart Water Monitoring market. And optical technologies is expected to decrease the necessary cost of the Smart Water Monitoring devices in coming years. Due to which, everyone with moderate spending capability would be able to purchase the Smart Water Monitoring devices, thus driving the Smart Water Monitoring market. In many countries the population is suffering from shortage of even drinking water thus requires help of Smart Water Monitoring. In the coming years, with population growing at a higher rate, access to safe drinking water will become very cumbersome and in tremendous need of Smart Water Monitoring. So, water conservation and monitoring is essential for them, impacting the overall Smart Water Monitoring market.
Smart Water Monitoring Market: Segmentation
Smart Water Monitoring Market can be segmented as follows:-
On the basis of type, the Smart Water Monitoring market can be segmented into:-
- Quantitative monitoring
- Qualitative monitoring
On the basis of component, the Smart Water Monitoring market can be segmented into:-
- Hardware Sensors Other monitoring devices
- Software
- Services
On the basis of end-user, the Smart Water Monitoring market can be segmented into:-
- Residential
- Commercial
- Industrial
- Corporate
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Smart Water Monitoring Market: Key Players
Some key players of Smart Water Monitoring Market are Electronics System Pvt. Ltd., Aclara Technologies LLC, ABB Ltd., Sensus USA Inc., Siemens AG, Schneider Electric SA, General Electric Company, TaKaDu Ltd., Badger Meters, Elster Group, Diehl Stiftung & Co. Kg, KernelSphere Technologies Pvt. Ltd, The OTT Hydromet Group, Biological Monitoring, Inc., WaterShed Monitoring, American Water Works Association (AWWA), BlueLeg Monitor BV, mlu-recordum Environmental Monitoring Solutions GmbH and BlueLeg Monitor BV. These players are expected to influence the Smart Water Monitoring market during forecast period.