Markntel Advisors present the latest study onDigital Water Solutions and Services Market,covering extensive, in-depth analysis of the ongoing trends, opportunities/ high growth areas, and market drivers, which could help stakeholders to devise and align market strategies according to the future market dynamics. Based on elite players, present, past, and futuristic data will offer a profitable guide for all readers and competitors.
According toDigital Water Solutions and Services Market Research Report,Themarketis projected to grow at a CAGR of around 12.65% during the forecast period, i.e., 2023-2028. The market growth is predominantly driven by the industry fulfilling the bestowed requirement of saving water efficiently effectively. Additionally, digital water solutions help plan resilient water systems optimized while serving as a support system and providing data that helps predict maintenance and reduce water wastage. Thus, the provided preventative measures to fight water scarcity and groundwater depletion fuels the industrial expansion.
Digital Water Solutions and Services MarketCompetitive Analysis
Our research covers competitors:
- Company Profile
- Main Business Information
- SWOT Analysis
- Sales, Revenue, Price and Gross Margin
- Market Share
The major players, among whom theDigital Water Solutions and Services Marketfluctuates, are: -
- - Bentley Systems Inc.
- - Innovyze Inc.
- - Schneider Electric
- - ABB Ltd.
- - Atonix Digital
- - Copperleaf Technologies Inc.
- - Cognizant
- - Intelliflux Controls Inc.
- - Huawei Technologies Co. Ltd.
- - IBM
- - Siemens
- - Xenius
- - Minsait
- - TaKaDu
- - Others
Digital Twin Concept Is Developing To Support Water Infrastructure
In recent years, the idea of digital twins has begun to take off in the market for digital water solutions and services. This is a reaction to the rising urbanisation that is making the design and development of water utility infrastructure even more necessary. Utility personnel can visualise an asset, check its status, and run simulations and analysis thanks to digital twins. This also makes it possible for water utility providers to estimate future performance and evaluate the effects of potential changes in the virtual world in advance while also better understanding the history and present performance of water systems. So, an increasing number of players are incorporating this technology into their offerings. For illustration:
- Bentley Systems, a provider of software for infrastructure engineering, introduced extensions for its iTwin Platform in 2022. This open, scalable cloud service allows users to build, visualise, and analyse digital twins of infrastructure assets. This was done to improve and expand the range and interoperability of infrastructure data that engineering companies and owner-operators may use to develop and utilise digital twins in workflows for design, construction, and operations.
Increasing Government Water Conservation Efforts
The need to conserve and effectively use this limited resource is being driven by the expanding global population and the exploitation of water resources to meet the escalating demand. In addition, the absence of natural water resources and extremely dry conditions in some areas, such as the Middle East and Africa, etc., have prompted government organisations and local authorities to create national and local programmes that contain strategies, policies, regulations, and practises to improve the effectiveness of water management. As a result, different governments around the world continually step up their efforts to save water.
Additionally, an increasing number of businesses are providing systems solutions that might aid in minimisingwater waste maximising its utilisation. Therefore, the ability of digital water solutions to conserve water along with government initiatives brought on by a growing water shortage would increase demand for these solutions services during the projection period.
Asia-Pacifics Rising Population Propels the Demand for Digital Water Solutions and Services
"Globally, the Asia-Pacific region is anticipated to witness progressive growth, fuelled by the rising population and surging urbanization in several countries, garnering the requirement for clean water. In addition, the growing adoption of advanced technologies such as Artificial Intelligence (AI) and the Internet of Things (IoT), owing to rising awareness and various features further supports the development of digital water solutions in the region. Moreover, the high prevalence of waterborne diseases in the residing countries owing to the vulnerability of south-eastern countries to extreme weather due to climate change is extending the demand for digital water solutions., further states the research report by Markntel Advisors.
The Scope of the Report
With a business objective, the report details the key takeaway necessary to formulate business strategies like:
- New product launches
- New client acquisitions
- New opportunity mapping (market and geography level)
- Competitive benchmarking
- Cost optimization strategies
- Expansion plans and more
Enlisting the Segments
The distinct diversification and articulations of the industry are classified into further segments so the stakeholder can obtain detailed information about factors affecting the market along with various factors affecting the elements which lead to market fluctuation. Segment-wise,Digital Water Solutions and Services Marketis spread across the following:
By Solutions
- Hardware
- Software
- Services
- Professional Services
- Consulting Services
- System Integration Deployment Services
- Support Management Services
- Managed Services
By Technology
- Metering Customer Management
- Network Management
- Work Asset Management
- Plant Management
- Information Management
Customize and Alter:
We atMarkntel Advisorsoffer customization personalization options to understand further and cater to your needs, wants, and requirements to help you formulate strategies andmore. To know more, reach out to us.
