North America smart water management market by component, 2012-2020, (USD Million)
- Devices accounted for over 35% of the overall smart water management market, and emerged as the most dominant segment in 2013. Solutions are expected to be a high growth segment, which can be attributed to the development of cloud-based solutions for efficient monitoring of distribution networks.
- Increasing adoption of cellular network technology in Automatic Meter Reading (AMR) is expected to drive market growth. The segment is also expected to grow faster than the global average over the next few years.
- On account of favorable government initiatives including incubation facilities, financial incentives and demonstration sites, North America was leading regional market in 2013. Increasing investments in the U.S. water sector is expected to positively impact regional market growth over the forecast period.
- Key market participants include Schneider Electric, Sensus, General Electric, IBM Corporation and ABB Ltd. Strategic partnerships due to high investments and increasing competition are expected to be key growth strategies over the next six years.