Quick Overview of the Global Digital Water Solutions and Services Market Analysis
The Global Digital Water Solutions and Services Market Analysis, research report provides an in-depth market study with qualitative and quantitative research of the continuing industry trends, opportunities, growth areas, drivers, and challenges, which would enable stakeholders to align their market strategies according to the present & future market dynamics.
Detailed Analysis of Digital Water Solutions and Services Industry (2023-28): Reveals Further Growth &Market Expansion
According to the most recent study, the Global Digital Water Solutions and Services Market is expected to grow at around 12.65% during the forecast period, i.e., 2023-28. The report significantly addressed considerable changes, gap analyses, and competitive studies using qualitative and quantitative data. These include the widespread segmentation, regional landscape, and recent developments, entailing information on the fluctuation in the demand, sales, revenue, and other parameters experienced and expected in the industry for the forecasting year i.e. 2023-28.
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Key Trend: Emergence of Digital Twin Concept to Support Water Infrastructure
Digital Water Solutions & Services Market is witnessing the emergence of the concept of digital twins in recent years. This is in response to rapid urbanization which is further necessitating the planning and development of water utility infrastructure. Digital twins allow utility workers to visualize an asset, check its status, and perform analyses and simulations. This further enables water utility providers to better understand the past and current performance of water systems as well as to predict future performance and assess the impact of potential changes in the virtual world beforehand. Thus, more and more players are adopting this technology in their services.
Digital Water Solutions and Services Market Segmentation Analysis
-By Solutions
- Hardware
- Software
- Services
-By Technology
- Metering & Customer Management
- Network Management
- Work & Asset Management
- Plant Management
- Information Management
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Geographical Analysis:
-By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
The Asia-Pacific region would witness positive growth in demand from the digital solutions and services market during the forecast years 2023-2028. The factors responsible for the progression are the rising population of the region along with rapid urbanization which is further increasing the requirement for clean water. This enhancing demand coupled with the growing adoption and implementation of technologies such as Artificial Intelligence (AI), Internet of Things (IoT) owing to rising awareness, is supporting the development of digital water solutions in the region.
Moreover, the high prevalence of waterborne diseases in countries such as Cambodia, Thailand, Vietnam owing to the vulnerability of Southeast Asian countries to extreme weather events due to climate change is raising the demand for digital water solutions. Smart sensors, instrumentation, and controls take sensing inputs from their physical surroundings and detect specific conditions and further initiate pre-determined, field-level functions via built in- computing capabilities, mitigating the effects of extreme climate events.
Key Players and Competitive Strategies in the Digital Water Solutions and Services Market
The report provides a study that looks at the requirements for manufacturing and processing, project expenses, finance, and economics, as well as projected profit margins and returns on investment. This also helps in identifying the major market players in the market such as:
- 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
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Recent Developments in the Global Digital Water Solutions & Services Market
- 2023: Siemens and Galliford Try, a UK construction group partnered to accelerate the integration of digital technologies across the lifestyle of water and wastewater projects. This was done to help water companies meet the regulatory, environmental, and operational pressures in modernizing their infrastructure while reducing time, cost, risk, and carbon.
Key Report Highlights
- Market Dimensions & Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
Key Questions Answered in the Research Report
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends influencing the current scenario of the market?
- What key factors would propel and impede the industry across the globe?
- How has the industry been evolving in terms of geography and product adoption?
- How has the competition been shaping up across various regions?
- How have buying behaviour, customer inclination, and expectations from product manufacturers been evolving during 2023-28?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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