Digital Water Market

The report "Digital Water Market, By Technology (Smart Water Meters, Internet Of Things, Artificial Intelligence & Machine Learning, Digital Twin, Geographic Information Systems, Others), By Solutions, By End-User (Municipal Water Industries, Industrial), By Region – Global Forecast To 2029", The market size of digital water from its worth of USD 6.5 billion in 2024 is estimated to expand to USD 11.4 billion by 2029, at a compound annual growth rate of 12% over the period.

American cities need a sense of urgency to address this emerging challenge of a water crisis that faces the country since supply outstrips demand capacities, sources of surface waters are gradually becoming polluted while exploitation of groundwater is no longer feasible. In addition, it will increasingly be a challenge because of the age of the infrastructure emanating from frequent breaks of pipes and the rising cost of gathering, treating, and distributing water. This has been complicated by the high energy consumption of water utilities; often forming some of the biggest consumers of energy in towns. Much of this will be enabled through a shift to digital water, which means using AI and IoT technologies to modernize how water is managed, from sensor networks that capture real-time data on flow, energy use, and system performance. Data-driven approaches allow improving the processes and making operations more cost-effective, thus helping to bridge the gaps in old infrastructure by making up for ever-increasing demand from cities, population, and industries.

Browse 150 market data tables and 40 figures spread across 200 pages and an in-depth TOC of the "Digital Water Market, By Technology (Smart Water Meters, Internet Of Things, Artificial Intelligence & Machine Learning, Digital Twin, Geographic Information Systems, Others), By Solutions, By End-User (Municipal Water Industries, Industrial), By Region – Global Forecast To 2029"
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Internet of Things (IoT), is the largest segment by technology in 2023    

Safe, clean water is essential for public health, agriculture, industry, and everyday life, but rising pressures on such resources, pollution, and climate change make it difficult to manage water. The Internet of Things (IoT) brings transformative solutions for monitoring and managing the quality of water and its consumption. It allows for real-time data collection on parameters such as pH, turbidity, temperature, and contaminants by installing connected sensors at the production facility, in distribution networks, and industrial sites. The deployment facilitates early detection of contamination, quick response to health risks, and optimization of treatment processes. IoT supports water consumption management, identifying leaks, waste reduction, and usage trend tracking. The platforms and dashboards of IoT centralized data from various sources that make the process easier when establishing patterns, correlations, or anomalies. Singapore, Barcelona, and San Francisco are some of the cities that have implemented successful solutions for IoT in monitoring water quality, detecting leaks, and preventing flooding, therefore, opening up the scope of enhancing water safety, sustainability, and efficiency.

Industrial segment, is expected to be largest segment by end-user during the forecast period.

Digital water technology is changing the industrial segment by optimizing water management in oil & gas, food & beverage, chemicals & pharmaceuticals, power generation, and agriculture. It helps in the oil & gas sector monitor water quality in real time and usage. The food & beverage industry uses digital tools to ensure hygiene, optimize water use, and enhance treatment processes through data analytics, in addition to chemicals & pharmaceuticals that can precisely track effluent quality and chemical consumption, reducing environmental impact and improving efficiency. Digital water systems monitor cooling processes to ensure reliable operations while lowering energy consumption for power generation. In agriculture, data-driven irrigation solutions optimize water use based on real-time crop and weather data, thus promoting sustainability. These industries leverage IoT, AI, and cloud computing to gather actionable insights, improve operational efficiency, reduce costs, and ensure compliance. Digital water technology addresses the challenges of climate change and growing regulatory pressures while driving sustainable water resource management across sectors.

North America holds the largest market share in the global digital water market in terms of value in 2023

Government initiatives and financing to modernize water infrastructure and increase effective resource management are strong drivers for the growth of digital water technology in North America. Under this regard, the US Environmental Protection Agency (EPA) emphasizes the need for innovative technologies to improve water quality and efficiency, mainly in light of aging infrastructure and increased regulatory demands. Initiatives like the Water Infrastructure Finance and Innovation Act, for example, offer the kind of critical funding that could see utilities adopt smart water management practices by implementing digital solutions in their projects. Under the Infrastructure Investment and Jobs Act, significant amount of financial resources will be provided to upgrade water infrastructure while incorporating digital technologies in better resource management. This funding encourages utilities to implement advanced metering infrastructure, real-time data analytics, and IoT solutions to enhance operational efficiency and minimize water loss. State-level initiatives that promote the implementation of digital tools to meet challenges such as drought management and water conservation further promote sustainable practices.

Key Players

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the digital water market. These are Schneider Electric  (France), Xylem, Inc. (US), Veolia Group (France), Siemens AG (Germany), Copperleaf Technologies (Canada), Atonix Digital (US), ABB (Switzerland), Innovyze (US), Bentley Systems (US), and Analytical Technology, Inc. (US).

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