According to a new study by Grand View Research, Inc., water management has emerged as a significant priority for governments and water utilities, which is expected to fuel the global smart water management market. Infrastructure revitalization, growing population, fluctuating climate, and rise in water shortage issues are also some of the key forces driving market growth. Although water management and conservation practices are continuously evolving, the aforementioned forces have spurred demand for smart technology solutions for more efficient and sustainable water systems.
Technological advancements enable water utility operators to proactively control and mange distribution systems and enhance efficiency, which is expected to favorably impact the market. Proliferation of cloud-based solutions to monitor distribution networks provides opportunities for market growth. Concerns among water utilities regarding adoption of these solutions may pose a challenge to the market. Low adoption of smart water management systems by several water utilities owing to high investments is also expected to hinder market growth.
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Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com/
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