Market Analysis
Market Research Future (MRFR) predicts the global
digital water solutions market size to reach USD 1.26 billion at a CAGR of 12.01% from 2020 to 2026 (forecast period).
Digital water solutions include a wide range of products and technologies used by water and wastewater providers, including software, hardware, services, analytical tools, data collection, and state-of-the-art technologies like artificial intelligence (AI) and machine learning. With digital water solutions, developing countries can develop and manage off-grid and localized water systems and produce dynamic models which can incorporate smart valves, pumps, sensors, and other smart devices and send real-time data of water systems. Therefore, all of the above factors are driving the growth of the global market.
Analytical Technology, Inc. (US).
Many leading players like Schneider Electric (France), ABB (Switzerland), Bentley Systems (US), and others are actively participating in digital water solution development projects. For example, in April 2019, Bentley Systems (US) made an agreement with Digital Water Works (US) to invest in superior infrastructure digital twin solutions for investor-owned and municipal water and wastewater utilities worldwide. Such market developments are anticipated to propel the growth of the global market for digital water solutions during the forecast period.
Summary
The global digital water solutions market size is set to reach USD 1.26 billion at a CAGR of 12.01% from 2020 to 2026 (forecast period). Digital water solutions refer to an ecosystem containing a wide variety of products and technologies used by water and wastewater companies, including hardware, software, services, information technology (IT), data collection, analytical tools, and state-of-the-a