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Digital Water Solutions Market to Touch USD 1.26 Billion at a 12.01% CAGR by 2026 | Market Research Future (MRFR)

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Pune, March 04, 2021 (GLOBE NEWSWIRE) — Market AnalysisMarket Research Future (MRFR) predicts the global digital water solutions market size to reach USD 1.26 billion at a CAGR of 12.01% from 2020 to 2026 (forecast period).Digital water solutions include a wide range of products and technologies used by water and wastewater providers, including software, hardware, services, analytical tools, data collection, and state-of-the-art technologies like artificial intelligence (AI) and machine learning. With digital water solutions, developing countries can develop and manage off-grid and localized water systems and produce dynamic models which can incorporate smart valves, pumps, sensors, and other smart devices and send real-time data of water systems. Therefore, all of the above factors are driving the growth of the global market.Moreover, the increasing demand for quality water services and the increasing digitalization of the utility sector are the main factors pushing the growth of the global market for digital water solutions. Power utilities are concentrating on reducing carbon emissions and developing smart water solutions that are expected to propel the market for digital water solutions during the forecast period. However, the lack of a digitally qualified workforce is a constraining factor in the growth of the global market for digital water solutions.
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Implementation of a range of regulations by governments of different countries to deal with the COVID-19 pandemic, such as a full shutdown of manufacturing units, is expected to have an impact on the development of the global digital water solutions market.Market SegmentationThe global digital water solutions industry has been segmented based on technology, solution type, and utility tier. Based on technology, the global digital water solutions market has been segmented into metering & customer management, plant management, network management, work & asset management, and information management. The metering & customer management segment is anticipated to hold the largest share of the market and develop at the highest rate during the assessment period. However, the network management segment is expected to hold the second-largest share during the forecast period in the digital water solutions market. Based on the solution type, the global digital water solutions market has been segmented into hardware, software, and services. The software segment is predicted to grow at the fastest rate during the forecast period due to the growing adoption of analytical solutions for digital water management. Based on the utility tier, the global digital water solutions market has been segmented into tier 1, tier 2, and tier 3. The tier 1 segment is projected to hold the largest share within the global digital water solutions market.https://www.marketresearchfuture.com/reports/digital-water-solutions-market-10017
By region, the global digital water solutions industry has been segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.North America to lead the global Digital Water Solutions MarketNorth America has the largest market share, with the largest number of in-house companies offering various products and services for digital water solutions. The need to replace the aging infrastructure in North America is also boosting the growth of the regional market. In addition, the market for digital water solutions in the Asia Pacific is anticipated to expand at the fastest rate over the predicted period, largely due to increasing urbanization, increasing demand for water, and the high adoption of the Internet of Things and other advanced technologies.Competitive Landscape With the involvement of a variety of foreign and regional players, the global digital water solutions market is relatively fragmented and competitive. Market players are heavily engaged in technological innovation, global expansion, and mergers and acquisitions to secure their market position.Bentley systems (US)Plutoshift (US)Innovyze (US)Intelliflux Controls (US)Schneider Electric (France)Minsait, Atonix Digital (US)Assetic (Australia)ABB (Switzerland)Aqueduct (US)PowerPlan (US)Space-Time Insight (US)Copperleaf Technologies (Canada)TaKaDu (Israel), andAnalytical Technology, Inc. (US).Many leading players like Schneider Electric (France), ABB (Switzerland), Bentley Systems (US), and others are actively participating in digital water solution development projects. For example, in April 2019, Bentley Systems (US) made an agreement with Digital Water Works (US) to invest in superior infrastructure digital twin solutions for investor-owned and municipal water and wastewater utilities worldwide. Such market developments are anticipated to propel the growth of the global market for digital water solutions during the forecast period.SummaryThe global digital water solutions market size is set to reach USD 1.26 billion at a CAGR of 12.01% from 2020 to 2026 (forecast period). Digital water solutions refer to an ecosystem containing a wide variety of products and technologies used by water and wastewater companies, including hardware, software, services, information technology (IT), data collection, analytical tools, and state-of-the-art technologies like artificial intelligence and machine learning. Digital water solutions are often referred to as smart water or the Internet of Water. With the aid of digital water technology, emerging economies can develop and manage off-grid and localized water systems and create dynamic models that can help integrate smart pumps, valves, sensors, and other intelligent devices and send real-time data of water systems. The global digital water solutions industry is expected to see high growth during the forecast period due to the increasing need to upgrade aging water infrastructure, which is expected to boost demand for the digital water solutions market during the forecast period.Browse Related Reports:Global Wind Turbine Services Market Research Report: Information By Type (Original Equipment Manufacturer (OEM), Independent Service Provider (ISP) and In-House), Application (Onshore and Offshore) and Region (North America, South America, Europe, Asia- Pacific and Middle East & Africa) – Forecast till 2026Global Solar Encapsulation Market Research Report: Information By Technology (Thin-Film Solar Technology, Cadmium Telluride (CDTE), {Copper Indium Gallium Selenide (CIGS) and Amorphous Silicon (A-SI)} and Polycrystalline Silicon), Material (Ethylene Vinyl Acetate, Polydimethylsiloxane, Ionomers, Polyvinyl Butyral and Others {Thermoplastic Polyurethane (TPU) and Polyolefin}), End-Use (Automotive, Electronics, Construction and Others) and Region (North America, South America, Europe, Asia-Pacific and Middle East & Africa) – Forecast till 2026Global Fire Rated Ducts Market Research Report: Information By Material (Steel, Aluminum, Fiberglass, Polymers and others), Shape (Round, Half Round, Rectangular, Triangular and Others), Penetration (Wall, Decks, Floor and Others), Service (Core Drilling, Seals, Duct Installation and Others), Application (Public Facilities, Commercial Facilities, Industrial Facilities and Others) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) – Forecast till 2026Global HVAC and Fire Protection Insulation Market Research Report: Information By Type (Glass Wool, Stone Wool, Plastic Foam and Others), Application (Ventilation Duct Insulation, Pipe Insulation and Others), End-User (Industrial, Commercial and Residential) and Region (North America, Europe and Asia) – Forecast till 2026Global Oilwell Spacer Fluids Market Research Report: Information By Type (Water-Based Oil Well Spacer Fluids and Oil-Based Oil Well Spacer Fluids), Application (Onshore and Offshore) and Region (North America, South America, Europe, Asia- Pacific and Middle East & Africa) – Forecast till 2026Global Horizontal Pumping Systems (HPS) Market Research Report: Information By Type (Under 100 HP, 100-600 HP and Above 600 HP), By End Use (Industrial, Oil & Natural Gas, Mining and Others) – Forecast till 2026Global Wind Turbine Pitch Systems Market Research Report: Information By Product Type (Pitch Motors, Pitch Valves, Pitch Pumps, Remote Terminal Software and Others), Application (Onshore and Offshore) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) – Forecast till 2026Global Fixed Tilt Solar PV Market Research Report: Information By Technology (Crystalline Silicone, Thin Film and Others), Application (On-Grid and Off-Grid) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America) – Forecast till 2026Global Slickline Services Market Research Report: Information By Slickline Tools (Pulling Tools, Gauge Cutter, Downhole Bailer, Bridge Plug and Others), By Application (Offshore and Onshore) and Region (North America, Europe, Asia-Pacific, the Middle East & Africa and South America) – Forecast till 2026Global Electronic Load Market Research Report: Information By Voltage (Low and High), Application (Aerospace, Defence & Government Services, Automotive, Energy, Wireless Communication and Infrastructure and Others), Current Type (AC and DC) and Region – Forecast till 2026Global Microbial Fuel Cell Market Research Report: Information by Type (Mediator and Non-Mediator), Application (Power Generation, Wastewater Treatment, Biosensor), End-User (Agriculture, F&B, Healthcare, Government & Municipal) & Region – Forecast till 2023Bioliquid Heat & Power Generation Market Research Report: Information by Type (Bioethanol and Biodiesel), by Application (Power Generation and Heat Generation), and Region – Global Forecast till 2023About Market Research Future:Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.Follow Us: LinkedIn | Twitter
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