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

Global Smart Water Management Market size was valued at USD 14.91 billion in 2022 and is poised to grow from USD 16.60 billion in 2023 to USD 39.09 billion by 2031, growing at a CAGR of 11.3% during the forecast period (2024-2031).

Smart water management is a water management system with a smart design used for monitoring, controlling, and regulating the use and quality of a city's water Smart water management (SWM) is being used by several governments and companies all over the world to reduce water waste and effectively control energy use. Sensors, water metres, and programming examination tools are some of the programming tools and equipment that this system contains. SWM is utilised to improve consumer participation in water conservation, lower costs associated with leak detection and the energy needed to pump water at water utilities. Smart water management technology helps many organisations diagnose network issues, boost water conservation among consumers, and—most importantly—reduce non-revenue water losses brought on by deteriorating infrastructure. Smart water management has been designed to gather data on the pressure, flow, and distribution of a city's water supply that is both relevant and helpful. SWM's primary objective is to ensure the efficient management of the infrastructure and energy needed for the transportation of water. Information and communication technology (ICT) and real-time data and answers are key components of smart water management (SWM), which is used as a solution to water management issues. Smart systems have a wide range of possible applications in water management, including solutions for floods, droughts, leaks, pressure and flow issues, effective irrigation, water quality, quantity, and many other issues.

US Smart Water Management Market is poised to grow at a sustainable CAGR for the next forecast year.