DUBLIN, Oct. 20, 2023 /PRNewswire/ -- In light of the recent news that millions of smart water meters are poised for installation across Britain by 2030, a ground-breaking research report titled "Smart Water Management Market - Global Forecast to 2028" report has been added to  ResearchAndMarkets.com's offering. This ambitious undertaking by water companies aligns perfectly with the projections and insights of the research report, as they aim to enhance water conservation, reduce leakages, and optimise water consumption.

The Smart Water Management market is projected to burgeon from USD 16.6 billion in 2023 to an impressive USD 28.2 billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 11.3%. This growth is reflective of the surging demand by consumers for high-quality water services, encompassing safe drinking water, reliable wastewater treatment, and efficient stormwater management. The report underscores the pivotal role of smart water management solutions in aiding utilities to cater to these demands by leveraging real-time data to enhance water quality, reduce water loss, and fine-tune operations.

For business entrepreneurs and managers, this report is an indispensable resource. Among the water meters, AMI Meters are poised to dominate the market share during the forecast period. These meters, superior to their traditional counterparts, are equipped with cutting-edge technology that facilitates the collection and transmission of water usage data remotely, in real-time. With rising concerns over water scarcity and a global shift towards sustainable water practices, the market for these meters is set to soar. Regulatory mandates, increasing environmental consciousness, and the pursuit of cost savings further augment their adoption.

Enterprise Asset Management (EAM) solutions are another major highlight of the report. These solutions, which are gaining traction in the smart water management market, empower utilities to proficiently track, manage, and maintain their physical assets throughout their lifecycle. In an age where water infrastructure is rapidly evolving with the integration of new technologies like IoT sensors and AI, EAM solutions offer utilities a unified perspective of their assets and operations.

Furthermore, the report sheds light on the significant role Asia Pacific, the world's most urbanised region, will play in the global market. With over half of its population residing in urban areas, there's an escalating pressure on water resources and infrastructure due to rapid urbanisation and population growth. Smart water management solutions emerge as the answer to these challenges, ensuring water conservation, efficiency, and reduced loss.