New Delhi, Feb. 24, 2025 (GLOBE NEWSWIRE) -- The global smart water grid market was valued at US$ 22.65 billion in 2024 and is anticipated to reach US$ 36.03 billion by 2033, growing at a CAGR of 5.70% during the forecast period 2025–2033.
The global smart water grid market has witnessed significant growth in 2024, driven by increasing urbanization, water scarcity, and the need for efficient water management. Over 1.2 billion smart water meters have been installed globally, marking a milestone in the adoption of smart water technologies. North America leads the market with a 35% share, while the Asia-Pacific region is growing at the fastest rate, with a CAGR of 12.8% from 2020 to 2024. Major cities like Los Angeles have completed the installation of 750,000 smart water meters, covering 90% of their service area, while Singapore’s PUB has deployed 300,000 smart water meters as part of its Smart Water Meter Program.
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Governments and utilities are investing heavily in smart water infrastructure. The European Union has allocated €5 billion for smart water projects in its 2021-2027 budget, and India’s Jal Jeevan Mission aims to provide 100 million household tap connections by 2024, incorporating smart water systems. China’s 14th Five-Year Plan targets upgrading 100 cities with smart water infrastructure by 2025. These initiatives reflect the global shift towards intelligent water management, driven by the need to reduce water losses, improve efficiency, and ensure sustainability in urban water systems.
Key Findings in Smart Water Grid Market
| Market Forecast (2033) | US$ 36.03 billion |
| CAGR | 5.70% |
| Largest Region (2024) | North America (35%) |
| By Component | Hardware (45%) |
| By Application | Residential (40%) |
| Top Drivers |
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| Top Trends |
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| Top Challenges |
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Technological Innovations are Driving Efficiency in Smart Water Management
Technological advancements are at the core of the smart water grid market revolution. IoT-connected devices in the water sector reached 20 million globally in 2024, enabling real-time monitoring and leak detection. Companies like IBM have implemented their Intelligent Water software in over 200 utilities worldwide, while Siemens’ Water Management System has been deployed in more than 1,000 water treatment plants. Schneider Electric’s EcoStruxure for Water and Wastewater has been installed in over 100,000 locations globally, showcasing the widespread adoption of smart water solutions.
Artificial Intelligence (AI) and Machine Learning (ML) are transforming water management by optimizing water treatment processes and enabling predictive maintenance. Sensus, a Xylem brand, has deployed more than 20 million smart water devices across 100 countries, and Itron’s water solutions are now used by over 5,000 utilities worldwide. These technologies not only improve operational efficiency but also contribute to significant water savings. For example, the city of Melbourne reduced water leakage by 40% through its smart water network, demonstrating the tangible benefits of advanced water management systems.
Government Initiatives and Funding: Accelerating Smart Water Grid Deployment
Government initiatives and funding are playing a crucial role in accelerating the adoption of smart water grid market. In 2024, the World Bank approved $1.5 billion in financing for smart water projects in developing countries, while the African Development Bank funded projects worth $750 million across the continent. The UK water industry invested £2.5 billion in smart water technologies between 2020 and 2024, and Australia’s Smart Water Metering Program aimed to install 5 million smart meters across major cities by 2024.
In Asia, Thailand’s Provincial Waterworks Authority launched a $500 million smart meter project, aiming to install 2 million devices by 2026. Saudi Arabia’s NEOM project incorporated a fully integrated smart water grid system covering 26,500 square kilometers, setting a benchmark for futuristic water management. These investments reflect the growing recognition of smart water grids as a critical component of sustainable urban development, with governments worldwide prioritizing the modernization of water infrastructure to address increasing water demand and scarcity.
Analysis of Key Players and Market Developments
The smart water grid market is dominated by key players who are driving innovation and setting industry standards. Sensus, a Xylem brand, has deployed more than 20 million smart water devices across 100 countries, while Itron’s water solutions are now used by over 5,000 utilities worldwide. Veolia Water Technologies has implemented smart water solutions in over 5,000 industrial facilities, and Suez’s ON’connect smart metering solution has been deployed in more than 4 million households globally.
Other major players in the global smart water grid market include Badger Meter, which has deployed over 1 million ORION Cellular LTE-M endpoints for smart water metering, and Honeywell, whose smart water solutions are implemented in over 500 cities worldwide. These companies are not only expanding their global footprint but also driving technological advancements in the sector. For instance, GE Digital’s water and wastewater software solutions have been adopted by over 3,000 utilities globally, and ABB’s digital water management solutions are implemented in over 2,000 projects worldwide. These developments highlight the competitive landscape of the market, with companies continually innovating to meet the growing demand for smart water solutions.
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Regional Insights: Smart Water Grid Adoption Across the Global Smart Water Grid Market
Regional adoption of smart water grids varies significantly, with North America leading the market and Asia-Pacific emerging as the fastest-growing region. In the U.S., New York City’s DEP installed 900,000 smart water meters by 2024, while Tokyo’s Bureau of Waterworks completed the installation of 2.3 million smart meters. In Europe, the city of Barcelona saved 75 million liters of water daily through its smart water management system, and the European Investment Bank provided €1 billion in loans for smart water infrastructure projects across EU member states.
In Asia, India’s Jal Jeevan Mission aimed to provide 100 million household tap connections by 2024, while China’s 14th Five-Year Plan targeted upgrading 100 cities with smart water infrastructure by 2025. Australia’s Smart Water Metering Program aimed to install 5 million smart meters across major cities by 2024, and the UAE’s FEWA completed the installation of 500,000 smart water meters. These regional initiatives reflect the global push towards smart water management, with each region adapting solutions to meet its unique challenges and water management needs.
Emerging Trends and the Road Ahead for Smart Water Grid Market
The future of smart water grids is promising, with emerging technologies like AI, IoT, and blockchain set to revolutionize water management. By 2028, AI-driven predictive maintenance is expected to achieve over 90% accuracy, reducing downtime and maintenance costs for utilities. The integration of 5G technology is anticipated to enhance real-time data transmission, potentially reducing water losses by up to 20% in major cities by 2030. Digital twin technology is also expected to gain traction, with over 50% of major urban water utilities projected to implement it by 2030.
Governments and private players are expected to continue investing in smart water infrastructure, giving a push to the smart water grid market. The African Water Facility funded smart water projects worth €200 million in 2024, and Brazil’s National Water Agency launched a $300 million smart water management program. As climate change exacerbates water scarcity, smart water grids will become essential for ensuring water security, with over 60% of the world’s population projected to live in water-stressed areas by 2035. These trends underscore the critical role of smart water grids in shaping a sustainable and resilient future for urban water management.
Global Smart Water Grid Market:
- Diehl Stiftung & Co. KG
- Landis+Gyr
- Neptune Technology
- Siemens AG
- Itron, Inc.
- Schneider Electric
- ABB
- Honeywell International Inc
- Badger Meter Inc.
- Other Prominent Players
Key Segmentation:
By Component
- Hardware
- Smart meters
- Sensors
- Communication Devices
- Flow and Pressure Sensors
- Control valves
- Software
- Services
By Application
- Residential
- Commercial
- Industrial
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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