Smart Water Management Market Size, Share, Growth Analysis, By Offering (water meters, solutions), By Technology (IoT, Artificial Intelligence), By End User (Residential, Commercial), By Region - Industry Forecast 2024-2031

North America dominated the Global Smart Water Management Market in 2021. This can be attributed to stronger government regulations and rising demand for clean energy options across the region. People in North American residential regions are starting to understand the advantages of all smart water management technologies, such as how they help to decrease water waste, enhance water quality, prevent leaks, and help control water use. Because of this, the market for smart water management is likely to develop as demand for these solutions rises in the North American region.

Asia Pacific smart water management market is expected to grow the fastest during the forecast period. The rapid growth can be largely attributed to a number of factors, including an increase in the adoption of smart grid solutions, an increase in urbanisation levels leading to an increase in water demands, agricultural production, technological integration in the utility sector, and an exponential increase in population. Due to these elements, the region's industrial activities are expanding and government laws are favourable, leading to the large-scale deployment of technology compared to the western areas. The rising need for water efficiency and reusable water resources in APAC is anticipated to fuel the region's Smart Water management market expansion. Growing smart cities in the region are also anticipated to generate considerable economic prospects for providers of smart water management technologies. By 2022, India intends to invest around $500,000 in the construction of over 100 smart cities, which are estimated to benefit close to 1 billion people. Additionally, Singapore invested more than USD 1 billion in smart city projects in 2019. These regional smart city projects should open up a lot of opportunities for the adoption of improved metering infrastructure.