The global digital water market size reached USD 7.96 Billion in 2020 and is expected to register a revenue CAGR of 12.1%, during the forecast period, according to the latest analysis by Emergen Research. Increasing demand for quality water services, as well as government regulation favoring development of digital water, are some of the major factors driving global digital water market revenue growth. Revenue growth of the market is also expected to be driven by rising demand for replacing aging infrastructure due to technical advancements and rising trend of digitization of the utility sector. Digital transformation is one of the major positive factors for advancements across the utility sector. Leading companies offer cloud-based smart systems that help to increase productivity by providing easier and more efficient monitoring, handling, management, and maintenance of various systems. It helps to understand the exact problem with the help of cloud-based software, sensors, analytics, and technical teams.
The report offers an accurate forecast estimation of the digital water industry based on the recent technological and research advancements. It also offers valuable data to assist the investors in formulating strategic business investment plans and capitalize on the emerging growth prospects in the digital water market. The study on the Global digital water Market is the latest report covering the impact analysis of the currently ongoing COVID-19 pandemic. The pandemic has directly affected the market by causing disruptions in the global supply chains and indirectly by inducing financial difficulties. The digital water market has witnessed dynamic changes in trends and demands owing to the ongoing COVID-19 pandemic.
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Some Key Highlights from the Report
- Software segment revenue is expected to register a significantly rapid CAGR during the forecast period due to increasing use of Artificial Intelligence (AI) software solutions for waste water treatment and associated applications and functions. Distribution of clean drinking water is a primary objective. Based on AI, software is designed to track and manage sewage throughout an entire city, detect pollution events, and aid in radically reducing overall costs.
- Network management segment is expected to register a significantly robust revenue growth rate over the forecast period. Network management is an efficient process that helps in monitoring drinking water and wastewater with maximum transparency. It allows real-time monitoring of Key Performance Indicators (KPIs) and provides a comprehensive visualization of all water flows, guarantees complete transparency in all water networks, and helps optimize all processes where all the sensors gather valuable information.
- North America is expected to account for a larger revenue share than other regional markets over the forecast period due to increasing need for replacing aging infrastructure. Besides, presence of major companies such as Bentley Systems, Inc., Innovyze, Inc., Atonix Digital, Plutoshift, Inc., SpaceTime Insight, Inc., and others boosting growth of the global digital water market.
- In September 2021, Bentley System Inc. announced that its Seequent business unit acquired Minalytix, which is the developer of MX Deposit. It extends Seequents’s cloud capabilities and solutions for mining, greenfield explorations, resource development, and mining production.
Leading Companies of the Digital Water Industry and Profiled in the Report are:
Bentley Systems, Inc., Innovyze, Inc., Schneider Electrics Industries SAS, Atonix Digital, Plutoshift, Inc., Assetic, SpaceTime Insight, Inc., Copperleaf Technologies Inc., Huawei Technologies Co. Ltd., and Xenius.
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Emergen Research has segmented the global digital water on the basis of solution type, technology, utility tier, and region:
Solution Type Outlook (Revenue, USD Billion; 2018–2028)
- Hardware
- Software
- Services
Technology Outlook (Revenue, USD Billion; 2018–2028)
- Metering & Customer Management
- Network Management
- Work & Asset Management
- Plant Management
- Information Management
Utility Tier Outlook (Revenue, USD Billion; 2018–2028)
- Tier 1
- Tier 2
- Tier 3
Regional Analysis:
The report sheds light on the region expected to dominate the Digital Water market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Digital Water market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.
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Key Questions Answered in the Report:
What is the growth rate of the Digital Water market? What is the anticipated market valuation of Digital Water industry by 2028?
What are the key growth driving and restraining factors of the Digital Water market?
Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
What are the key opportunities and growth prospects of the Digital Water industry over the forecast period?
Which region is expected to show significant growth in the coming years?
The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.
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