Global Digital Water Solution Market Major Trends And Growth Drivers

The Business Research Company’s Digital Water Solution Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 24, 2024 /EINPresswire.com/ -- The digital water solutions market, leveraging advanced technologies to enhance water management processes, is poised for significant growth in the coming years. Starting from $0.96 billion in 2023, the market is projected to grow to $1.09 billion in 2024, marking a compound annual growth rate (CAGR) of 14.4%. This growth is driven by the increasing volume of digital data, heightened concerns over data security, and the rising demand for biotechnology solutions. Looking forward, the market is expected to reach $1.85 billion by 2028, growing at a CAGR of 14.1%. This expansion will be fueled by the integration of cloud storage, rising adoption across healthcare sectors, and advancements in archival storage solutions.

Addressing Water Scarcity Fuels Market Growth
The escalating global demand for managing scarce water resources is a primary driver for the digital water solutions market. With water scarcity becoming a pressing issue globally, digital solutions offer automated infrastructure management, optimize water distribution, and minimize wastage through innovations like smart irrigation systems and leak detection technologies. According to projections by the United Nations, severe water scarcity may displace around 700 million people by 2030, underscoring the urgent need for effective water management solutions.

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Key Players and Market Trends
Major companies such as General Electric Company, IBM Corporation, Schneider Electric SE, and SAP SE are leading the charge in integrating new technologies into water treatment solutions. For instance, AquiSense launched the PearlAqua Deca 30C in April 2023, a UV-C LED-based water disinfection system designed for various applications, including commercial and industrial water purification and home use.

Innovations and Emerging Trends
Innovations in the digital water solutions market include the development of DNA data cards for personal storage, biological cryptography for enhanced security, and advancements in edge computing applications. These innovations are expected to drive market growth by enhancing data security and expanding the scope of digital water management solutions.

Market Segments
• Solutions: Hardware, Software, Services
• Technology: Metering And Customer Management, Network Management, Work And Asset Management, Plant Management, Information Management
• Utility Tier: Tier I, Tier II, Tier III

Regional Insights: Asia-Pacific Leads Growth
North America emerged as the largest region in the digital water solutions market in 2023, while Asia-Pacific is anticipated to witness the fastest growth during the forecast period. The report provides detailed insights into regional dynamics, market trends, and growth opportunities across Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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Digital Water Solution Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Digital Water Solution Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on digital water solution market size, digital water solution market drivers and trends, digital water solution market major players, competitors' revenues, market positioning, and market growth across geographies. The digital water solution market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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