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Mar 05, 2024

Water Automation and Instrumentation Market Size & Share to Surpass $40.6 Bn by 2030

WASHINGTON, Aug. 30, 2023 (GLOBE NEWSWIRE) -- The Global Water Automation and Instrumentation Market accounted for USD 17.9 Billion in 2022 and is expected to have USD 40.6 Billion by 2030 at a CAGR

WASHINGTON, Aug. 30, 2023 (GLOBE NEWSWIRE) -- The Global Water Automation and Instrumentation Market accounted for USD 17.9 Billion in 2022 and is expected to have USD 40.6 Billion by 2030 at a CAGR of 12.2% over the forecast period.

Water scarcity and increasing demand for water are the primary drivers of the Water Automation and Instrumentation market. With the global population expected to reach nearly 10 billion by 2050, the demand for water is projected to increase by around 55%. This increased demand, coupled with the limited availability of freshwater resources, is putting pressure on water utilities and industries to manage their water resources more efficiently. Water Automation and Instrumentation systems play a crucial role in enabling efficient management of water resources by providing real-time information and control over water distribution networks.

The research examines worldwide producers and suppliers in-depth, as well as their recent state and future possibilities. It also discusses the global drivers of demand for this market in-depth, such as increased investment requirements, developing technology, and new laws.

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Market Overview

According to Vantage Market Research, one of the important factors influencing the expansion of the Water Automation and Instrumentation market is the technological advancements and the integration of digital solutions. The adoption of smart devices and sensors, along with the Internet of Things (IoT), has transformed the water industry by enabling real-time monitoring and analysis of water systems. These digital solutions provide valuable insights into water usage, leak detection, and operational efficiency, allowing water utilities and industries to identify areas of improvement and optimize their operations. For instance, General Electric Company unveiled enhancements to its CIMPLICITY and Tracker software that provide critical decision support for operators to make them more efficient. CIMPLICITY is an ideal solution for industrial companies building remote operations centers, including power and water utilities with multiple locations.

We forecast that the chemical & pharmaceuticals sector will account more market share during the forecast period. The growth of the Chemical & Pharmaceuticals segment in the Water Automation and Instrumentation market can be attributed to the increasing demand for clean water, stringent regulatory standards, process efficiency and cost reduction goals, advancements in technology, integration with IoT, and growing awareness of water sustainability. These factors have driven chemical and pharmaceutical companies to invest in Water Automation and Instrumentation systems to ensure water quality, comply with regulations, and achieve operational efficiency and sustainability targets.

North America leads the market for Water Automation and Instrumentation, among other regions. Because of the existence of multiple large-scale manufacturing enterprises and a rising emphasis on water conservation practices, the region is seeing an increase in demand for highly advanced industrial water automation systems and instrumentation solutions. Several major factors are also driving the market in this area, including the increasing acceptance of smart water management systems, severe government laws governing the use of water resources, and the growing requirement for effective water usage in agriculture. Furthermore, the presence of significant Water Automation and Instrumentation firms in this area, as well as their focus on providing new solutions, has aided the market's growth.

Top Players in the Global Water Automation and Instrumentation Market

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Market Dynamics

Increasing Focus on Reducing Operational Costs and Improving Energy Efficiency Drives the Market Water utilities and industries are under pressure to reduce their operational expenses while maintaining the quality and reliability of their services. Automation and instrumentation systems help achieve these goals by enabling more accurate and efficient monitoring and control of water processes. By identifying and addressing inefficiencies in water distribution networks, these systems can help reduce energy consumption, minimize water losses, and optimize equipment performance. This, in turn, leads to cost savings and improved operational efficiency.

Growing Trend of Integrated Smart Cities and the Development of Smart Infrastructure to Promote Market Growth The growing trend of integrated smart cities and the development of smart infrastructure is also contributing to the growth of the Water Automation and Instrumentation market. As cities become more interconnected and digitally integrated, the need for intelligent water systems becomes essential. Water Automation and Instrumentation systems play a critical role in smart city initiatives by enabling efficient water management, remote monitoring, and data-driven decision-making. These systems can integrate with other smart infrastructure components, such as smart meters and energy management systems, to optimize resource allocation and improve overall urban sustainability.

Top Trends in the Global Water Automation and Instrumentation Market

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Top Report Findings

Increasing Investment in Research and Development to Improve Water Management Efficiency, Accuracy, and Reliability Drives the Market Key players in the Water Automation and Instrumentation market drive growth through their focus on technology innovation. They invest in research and development to develop advanced sensors, meters, control systems, and data analytics solutions that improve water management efficiency, accuracy, and reliability. Key players actively expand their market presence by entering new geographic regions and industry verticals. They establish partnerships and collaborations to leverage their expertise and enhance their market reach. Market expansion initiatives help drive the adoption of Water Automation and Instrumentation solutions. General Electric Company, Mitsubishi Electric Corporation, Siemens AG, Yokogawa Electric Corporation, Honeywell International Inc., Endress+Hauser AG, and Rockwell Automation, Inc. are among the other key competitors.

Industrial Sector in the Water Automation and Instrumentation Market to Generate Market Share Vantage Market Research analyzed the market for Water Automation and Instrumentation to understand its recent situation and potential future growth factors. For better understanding, based on end-user, the Water Automation and Instrumentation market are categorized into, Chemical & Pharmaceutical, Metal Fabrication, Automotive & Aerospace, Food & Beverage, Oil & Gas, and Others.

According to our forecasts, the chemical & pharmaceuticals will hold more market share during forecast period. There is an increasing awareness among chemical and pharmaceutical companies about the importance of water sustainability. The water-intensive nature of their operations has made them realize the need for responsible water management practices. Water Automation and Instrumentation systems play a crucial role in achieving sustainability goals by enabling companies to monitor and control water usage, detect leaks, and minimize water wastage.

On the other hand, Food & Beverages segment dominated the market in 2022. Governments and regulatory bodies impose strict regulations on the food and beverages industry to maintain the hygiene and safety of products. These regulations often require the industry to implement water management systems that comply with specific standards for water quality. Automation and instrumentation systems enable food and beverages companies to meet these regulations by providing accurate and real-time water quality data.

Browse market data Tables and Figures spread through 149 Pages and in-depth TOC on Water Automation and Instrumentation Market Forecast Report (2023-2030).

Global Water Automation and Instrumentation Market Segmentation

By Process Stage

By Equipment

By End User

By Region

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