Exploring Digital Water Solutions and Services Market Opportunity, Latest Trends, Demand, and Develo
Author : rozy desouza | Published On : 08 Feb 2024
MarkNtel Advisors recently released a research report focusing on the Global Digital Water Solutions and Services Market for the forecast period of 2023-28. This approach enhances user understanding and supports well-informed decision-making. The report comprehensively addresses significant changes, gap analyses, emerging opportunities, trends, industry dynamics, and competitive challenges using qualitative and quantitative data. To familiarize established businesses and newcomers with the present market scenario, the report offers detailed growth prospects for the industry and concise insights into competitors.
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Digital Water Solutions and Services Market Insight and Analysis:
The Digital Water Solutions and Services Market is projected to grow at a CAGR of around 12.65% during the forecast period, i.e., 2023-28.
Emergence of Digital Twin Concept to Support Water Infrastructure: Key Trend to Watch
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. For instance:
- In 2022, Bentley Systems, an infrastructure engineering software company launched expansions for its iTwin Platform, an open, scalable cloud service for creating, visualizing, and analyzing digital twins of infrastructure assets. This was done to enhance & extend the scope and interoperability of infrastructure data that engineering firms and owner-operators can use to create and leverage digital twins in design, construction, and operations workflows.
Thus, digital twin technology has been gaining popularity among water & wastewater utility providers in recent years owing to innovations to strengthen the water infrastructure and is expected to support the growth in demand for such solutions in the forecast period, 2023-2028.
Digital Water Solutions and Services Industry Segmentation:
Based on Solutions
- Hardware
- Software
- Services
-- Professional Services
-- Consulting Services
-- System Integration & Deployment Services
-- Support & Management Services
-- Managed Services
Based on Technology
- Metering & Customer Management
- Network Management
- Work & Asset Management
- Plant Management
- Information Management
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Geographically Analysis:
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
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A thorough examination of the competitive landscape of the market involves a comprehensive analysis of its key competitors. This analysis delves deep into each company's profile, financial achievements, market presence, potential, Research and Development (R&D) expenditures, recent strategic initiatives in the market, footprint, strengths, weaknesses, and market dominance. The information provided offers a comprehensive overview of the leading market players, including 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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