Smart Online Water Sensor Solutions Market is estimated to be US$ 9.9 billion by 2029 with a CAGR of 11.9% during the forecast period

Published Date: March 2024

The smart online water sensor solutions market accounted for US$ 3.2 billion in 2019 and is estimated to be US$ 9.9 billion by 2029 and is anticipated to register a CAGR of 11.9%

The report "Smart Online Water Sensor Solutions Market, By Component (Devices, Solutions, and Services), By Application (Commercial and Residential), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.

Key Highlights:

  • In July 2019, Nice S.p.A., the Italian international reference firm in Home Automation and Home Security, expands in the Smart Home sector and acquires FIBARO, a leading brand in the sector, which offers true wireless, a modular ecosystem for a connected, controlled and customized home suited to the user's specific needs.
  • In January 2020, Ohio-Flo Technologies and Moen, the leaders in smart home water security, launched the Flo by Moen Smart Water Detector (Smart Water Detector) at CES Unveiled, a standalone sensor that can be placed anywhere in a house to alert users if, and when, it detects moisture to help prevent water damage and loss.

Analyst View:

The rising need for equipment to decrease the wastage of water across the world had motivated key players to introduce smart online water sensors solutions equipped with advanced features such as easy setup, personalization, alarm system, Wi-Fi direct connect etc. For instance, Samsung’s SmartThings ADT Water Leak detector is easy to set up and allows personalization. Whereas, Honeywell’s Lyric Wi-Fi Water Leak and Freeze detector is easy to set up and does not require a smart home hub to operate.

In addition, remote sensing technologies coupled with GPS, GIS, and satellite radio communication systems help track freshwater resources and examine environmental issues. Currently, smart metering is being positioned rapidly across the industrial sector and provides lucrative opportunities to govern usage & allocation effectively as well as address systemic operational inefficiencies in emerging regions.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Smart Online Water Sensor Solutions Market”, By Component (Devices, Solutions, and Services), By Application (Commercial and Residential), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029"

Key Market Insights from the report:        

Smart online water sensor solutions market accounted for US$ 3.2 billion in 2019 and is estimated to be US$ 9.9 billion by 2029 and is anticipated to register a CAGR of 11.9%. The market report has been segmented on the basis of component, application, and region.

  • By component, devices are estimated to lead the component segment and are projected to follow the trend in the coming years. Devices are further categorized into cellular and fixed network technology. Cellular technology segment is anticipated to register high growth over the forecast period. Conversely, fixed network technology is foreseen to dominate the industry.
  • By application, the target market is segmented into commercial and residential.
  • By region, Asia Pacific smart online water sensor solutions market is projected to be the fastest growing regional industry in the coming years. The growth can be attributed to rising scarcity in the region and capital investments which have positively influence the regional industry growth.

Competitive Landscape:

The prominent player operating in the global smart online water sensor solutions market includes EcoNet Controls, FIBAR GROUP, SAMSUNG, LIXIL Group, and Winland Holdings.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

About Prophecy Market Insights

Prophecy Market Insights is specialized market research, analytics, marketing/business strategy, and solutions that offers strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high-value opportunities in the target business area. We also help our clients to address business challenges and provide the best possible solutions to overcome them and transform their business.

To know more

Contact Us:

Sales

Prophecy Market Insights

U.S: 1 860 531 2574

RoW: 91 7775049802

Email- sales@prophecymarketinsights.com

Website- www.prophecymarketinsights.com

Blog- www.prophecyjournals.com

Buy Now
Need a Custom Report?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports

Custmoized Your Report
Want to Buy a Report but have a Limited Budget?

We help clients to procure the report or sections of the report at their budgeted price. Kindly click on the below to avail

Request for Discount
Reliability and Reputation
Trusted By

Created billion dollars of revenue impact with more than 200+ clients

View All Our Clients