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, 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.
Emergen Research has published a novel research report titled, “Global Digital Water Market Forecast to 2028”. The report sheds light on the current as well as upcoming market trends. The report offers precise information about pricing, capacity, value, gross revenue, and profit of the market. The primary aim of the report is to offer in depth details about market size, revenue growth and overall market dynamics to readers, stakeholders, companies to strengthen their share in the global Digital Water market. It also provides in depth information about key factors, restraints, limitations, challenges along with various market segmentations such as product type, application and regional bifurcation.
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.
However, cybersecurity-related concerns related to using digital platform and lack of skilled labor workforce are factors expected to hamper growth of the global digital water market over the forecast period.
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The report offers a complete analysis of the global Digital Water market with details about each market player including company profile, financial standing, global position, revenue contribution, production and manufacturing capacity, business expansion plans, and new product launches. Key players are strategizing various plans such as M&A acquisition, partnerships, joint ventures, license agreement and collaborations. 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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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.
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)
Technology Outlook (Revenue, USD Billion; 2018–2028)
Metering & Customer Management
Work & Asset Management
Utility Tier Outlook (Revenue, USD Billion; 2018–2028)
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Key point summary of the report:
The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.
It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.
The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.
It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.
The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.
The report employs different analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information.
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