The global Smart Home Water Sensors And Controllers Market size is expected to witness a CAGR of 5.0% from 2023 to 2033. The smart home water sensors and controllers market is likely to top a valuation of USD 960.0 million by 2033.
By 2023, the smart home water sensors and controllers market is anticipated to reach USD 590.5 million. It is estimated to create a competitive advantage worth USD 369.5 million in the assessment period.
| Attributes | Key Insights |
|---|---|
| Smart Home Water Sensors and Controllers Market Estimated Size (2023E) | USD 590.5 million |
| Projected Smart Home Water Sensors and Controllers Market Valuation (2033F) | USD 960.0 million |
| Value-based Smart Home Water Sensors and Controllers Market CAGR (2023 to 2033) | 5.0% |
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Integration with Virtual Assistants to Push Demand in North America
North America's smart home water sensor and controller market is anticipated to grow considerably through 2033. Key companies based in the region are likely to integrate their products with virtual assistants. These help improve the total convenience for users.
Homeowners can utilize voice commands to make adjustments, receive alerts about potential issues, or check the status of their water systems. For instance, they can ask, ‘Is there a leak in the bedroom?’ or ‘Please turn off the water supply to my bathroom.’ Such a hands-free control feature is expected to offer a more accessible and intuitive method to maintain their water systems.
Water sensors and controllers with the voice control feature might also be ideal for the smart home ecosystem. Homeowners are anticipated to develop automation scenarios and routines involving their smart devices and water systems. The virtual assistant could accelerate actions such as activating smart plugs, sending notifications, or turning off the water supply.
Use of Wireless Connectivity to Create New Opportunities in Europe
Surging use of innovative Z-Wave, Zigbee, Wi-Fi 6 (802.11ax), and other wireless connectivity technologies might propel demand in Europe. This is expected to expand the need for efficient and reliable water management solutions across commercial spaces and homes.
The above-mentioned wireless connectivity technologies are mainly designed to provide enhanced durability and range compared to traditional wireless standards. Ability of Wi-Fi 6 to penetrate obstacles smoothly and deliver greater coverage might spur sales. Its improved range is anticipated to push its deployment in properties with complicated layouts or larger homes.
To boost its IoT standards built on the IEEE802.15 2.4GHz technology, the Zigbee Alliance established a Europe Interest Group in October 2020. IKEA Home Smart's Ulf Axelsson, an Alliance Board Member and IoT Architect, serves as the group's chair. Renowned firms such as Philips Lighting Spinoff Signify, ST Microelectronics, Assa Abloy, Schneider Electric, NXP, and LeGrand are already members of the Alliance.
The global smart home water sensors and controllers market grew at a decent CAGR of 6.4% in the historical period from 2018 to 2022. It is expected to witness a CAGR of 5.0% in the estimated timeframe. The smart home water sensors and controllers market stood at USD 557.1 million in 2022.
| Historical Smart Home Water Sensors and Controllers Market CAGR (2018 to 2022) | 6.4% |
|---|---|
| Historical Smart Home Water Sensors and Controllers Market Value (2022) | USD 557.1 million |
The importance of water conservation is set to surge quickly across the globe with dwindling freshwater resources. Smart home water sensors and controllers' ability to enable homeowners to track their water usage in real-time might push demand.
Users are expected to evaluate and adjust their water usage and lower consumption by detecting wastage and inefficiencies. Also, need for information about daily water usage patterns is likely to propel the smart home water sensors and controller demand.
Another prominent contributor to property damage and water waste is water leaks. Homeowners might look for new sensors and controllers that can send alerts to their smartphones by quickly detecting minor leaks.
The early detection feature is anticipated to reduce the chances of expensive damage repairs and prevent water loss. With growing water scarcity issues, smart home water sensors and controllers might witness high demand. These are expected to be used to conserve water by preventing leaks.
According to UNESCO, 2 billion people worldwide lack access to clean drinking water. Around 3.6 billion need access to adequately managed sanitation. Around two to three billion individuals annually endure water shortages for at least one month. It poses severe dangers to their ability to support themselves, particularly regarding their access to energy and food.
UNESCO also unveiled that in 2050 the number of urban dwellers who face water scarcity is expected to triple, from 930 million in 2016 to 1.7 to 2.4 billion. Extreme and protracted droughts are becoming more common, stressing ecosystems and damaging the diversity of animals and plants.
In the below table, the latest smart home water sensors and controllers market trends, growth obstacles, and upcoming opportunities are provided. Trends in the smart home water sensors and controllers market would enable stakeholders to invest in the right area and gain profit.
| Attributes | Key Factors |
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| Latest Trends |
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| Upcoming Opportunities |
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The table presents the expected CAGR for the smart home water sensors and controllers market over several semi-annual periods spanning from 2022 to 2033. In the first half (H1) of the decade from 2022 to 2032, the market is forecasted to surge at a CAGR of 4.8%, followed by a slightly lower growth rate of 5.2% in the second half (H2) of the same decade.
Moving into the subsequent period, from H1 2023 to H2 2033, the CAGR is projected to increase slightly to 5.3% in the first half and remain relatively steady at 4.9% in the second half. These values offer insights into the anticipated growth trends for the smart home water sensors and controllers market, aiding stakeholders and investors in making informed decisions regarding investments & market strategies.
| Particular | Value CAGR |
|---|---|
| H1 (2022 to 2032) | 4.8% |
| H2 (2022 to 2032) | 5.2% |
| H1 (2023 to 2033) | 5.3% |
| H2 (2023 to 2033) | 4.9% |
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The table below explains the worldwide demand for smart home water sensors and controllers market of the top 5 countries. Regional forecast for the smart home water sensors and controllers market by country states that China is anticipated to remain at the forefront by topping a size of USD 175.4 million by 2033.
The United States might reach USD 163.6 million in 2033. Japan is expected to follow China and the United States to create a moderate smart home water sensors and controllers market size worth USD 135.0 million.
| Countries | Market Value (2033) |
|---|---|
| United States | USD 163.6 million |
| United Kingdom | USD 30.8 million |
| China | USD 175.4 million |
| Japan | USD 135.0 million |
| South Korea | USD 45.3 million |
The table below shows the growth potential of the smart home water sensors and controllers market in terms of CAGRs of the top 5 countries. Out of the 5, the United Kingdom and South Korea will likely remain leading in the smart home water sensors and controllers market by exhibiting CAGRs of 6.1% and 6.0%, respectively, from 2023 to 2033. Following these, China and Japan are expected to witness smart home water sensors and controller sales at CAGRs of 5.7% and 5.5%, respectively.
| Countries | Value-based CAGR (2023 to 2033) |
|---|---|
| United States | 5.4% |
| United Kingdom | 6.1% |
| China | 5.7% |
| Japan | 5.5% |
| South Korea | 6.0% |
The United States smart home water sensors and controllers market is anticipated to top a valuation of USD 163.6 million by 2033. It is estimated to register a CAGR of 5.4% in the assessment period.
Increasing awareness of water consumption is set to drive smart home water sensors and controller demand in the United States. Modern sensors and controllers can provide real-time insights into water consumption.
With these sensors, homeowners are set to be able to access data through web interfaces or smartphone apps. Such features allow them to take action remotely by immediately shutting off the water supply when consumption surpasses the limit or during emergencies.
A handful of insurance companies in the United States are anticipated to provide homeowners discounts on purchasing smart water sensors and controllers. This is attributed to their ability to lower the risk of water damage, thereby creating fewer insurance claims. The increasing prevalence of the water crisis is expected to motivate homeowners to invest in innovative solutions.
The United Kingdom will likely achieve a valuation of around USD 30.8 million by 2033. It is expected to showcase a CAGR of 6.1% from 2023 to 2033 in the smart home water sensors and controllers market.
Surging awareness of sustainability and water conservation is anticipated to encourage homeowners to adopt new methods of water consumption reduction. Smart home water sensors and controllers might provide remote control and evaluation capabilities.
They are set to allow homeowners in the United Kingdom to manage their water systems from anywhere in the world through websites or mobile apps. Residents who own second homes or travel frequently will likely demand these products as they provide greater control over water consumption and peace of mind.
The Guardian says that when using bathrooms, restrooms, washing machines, dishwashers, and gardening hoses, the average British citizen consumes 153 liters of water daily. However, according to climate change predictions, England would have up to 50% more dry summers, and the water available will decline by at least 10 to 15%.
China is set to attain a smart home water sensors and controllers market cap worth USD 175.4 million by 2033. It expanded at a steady CAGR of 7.2% from 2018 to 2022.
Increased need for smart home water sensors and controllers might result from government measures to conserve water in China. One of the most crucial elements of innovative water management software is anticipated to be connected systems, which will primarily support the country’s sustainability goals.
As per the Water Action Decade, China has implemented a stringent water resource management system. It has also advanced the development of a society that conserves water.
The country has started a dual control over water consumption's total amount and magnitude and implemented a plan of action on conserving water among the population. At the same time, it has actively carried out the Water Pollution Prevention and Control Action Plan.
Japan is projected to reach a smart home water sensors and controllers market capitalization of USD 135.0 million by 2033. A CAGR of 5.5% is anticipated for the country in the review period.
Based on a reliable water supply, modern society in Japan delivers comfortable living and top-notch services. Hence, a suspended or limited water supply might significantly affect daily household life and social interactions. This might make it impossible for people to prepare food, flush toilets, and perform other everyday tasks.
A lack of industrial water might cause harm by reducing or stopping activities. Farmers are expected to conserve water by water-sharing, intensifying repetitive use. They will likely use other techniques, even though they involve much work and expense.
Dams are anticipated to be built in Japan to ensure the essential water supply even during relatively low rainfall. As per the Ministry of Land, Infrastructure, Transport, and Tourism, over 83.5 billion m3 of water was consumed in Japan, which is 20% of the average inventory of available water resources. Owing to the factors above, the smart home water sensors and controller market is set to rise.
South Korea is predicted to outperform a valuation of USD 45.3 million by 2033. It is likely to broaden at a CAGR of 6.0% during the evaluation period in the smart home water sensors and controllers market.
Use of wastewater, filtration of riverbanks, rainwater harvesting, development of groundwater reservoirs, and desalination of seawater are a handful of water conservation methods that might be practiced in South Korea. Several companies operating in the country are set to use zero liquid discharge (ZLD) treatment solutions as more attention is paid to the growing water pollution.
To maintain the water quality in the districts that use the Nakdong River as their water source, the Ministry of Environment is considering applying the ZLD treatment system. It might help provide water to industrial complexes above the corporate level. Hence, investments in the smart home water sensors and controllers market might expand in South Korea.
The table below highlights the global demand for smart home water sensors and controllers by type. Under type, the smart home water sensor segment, while smaller, is set to showcase a significant CAGR of 4.8% through 2033. It is expected to be followed by the smart home water controller segment.
| Category | Type |
|---|---|
| Sub-category | Smart Home Water Sensor |
| Value-based CAGR (2023 to 2033) | 4.8% |
Based on type, the smart home water sensor segment is projected to register a CAGR of 4.8% in the forecast period. It witnessed a steady CAGR of around 6.2% in the smart home water sensors and controllers market during the historical period.
Demand for smart home solutions such as smart home water sensors is anticipated to surge by 2033 amid increasing concerns about sustainability and water conservation. These might compel homeowners to find novel methods to efficiently manage and evaluate their water use. Ability of smart water sensors to contribute to environmental conservation initiatives by empowering users to lower water waste and detect leaks might propel demand.
Development of a synergy between connected devices and water sensors is another crucial factor that might aid growth. Homeowners are anticipated to demand advanced solutions that would enable them to monitor and control several elements of their homes remotely. Hence, users are expected to require smart water sensors that can be used to take immediate action or receive instant alerts through voice-controlled assistants or smartphones.
In July 2023, Minew Technologies, a reputable maker and creator of Internet of Things (IoT) smart devices, launched its latest MSL01 Wireless Water-Leak Sensor. It is an effective option for customers to identify and reduce water-related risks quickly. It can also help protect their assets and preserve operational continuity.
The table below highlights the global smart home water sensors and controllers industry by application. Under application, the commercial segment, while smaller, is set to showcase a significant CAGR of 4.6% through 2033. It is expected to be followed by the residential segment.
| Category | Application |
|---|---|
| Sub-category | Commercial |
| Value-based CAGR (2023 to 2033) | 4.6% |
In terms of application, the commercial segment is projected to showcase a CAGR of around 4.6% from 2023 to 2033. It grew at a decent CAGR of 6.0% from 2023 to 2033. The segment is expected to generate a considerable market share of smart home water sensors and controllers by 2033.
Awareness of the noteworthiness of water management for sustainability and cost savings might push smart home water sensors and controller sales in commercial applications. Commercial properties and businesses are set to use these sensors & controllers to offer real-time analytics and information. These allow companies to enhance their water use, evaluate leaks, and scrutinize water consumption, resulting in lower operational costs.
According to industry ISO statistics from 2021, water damage represents one of the most frequent and expensive sources of property loss. Yearly sustained damages in the United States are attributable to weather-related and non-weather water damages in the range of USD 500 million.
The high price of damage from water claims can lead carriers to think about tightening their conditions in an already competitive real estate market. Hence, demand for smart home water sensors and controllers are expected to surge with the need to mitigate such damages.
Renowned players in the smart home water sensors and controllers market are focusing on investing huge sums in research & development activities. They are doing so to come up with more feature-rich and advanced solutions. This includes creating user-friendly mobile apps, improving connectivity options, and refining sensor accuracy.
A handful of players in the smart water leak detector market aim to integrate their water sensors and controllers with renowned smart home ecosystems like the Apple HomeKit, Google Assistant, and Amazon Alexa. These are expected to enable them to manage their water systems with smart devices, improving home automation.
Key players also focus on creating awareness programs in developed and developing countries to increase smart home water sensors and controller sales. They are recognizing the significance of educating clients about the importance of water sensors and controllers.
To do so, players in the smart home water sensors and controllers market provide customer support to resolve their issues and offer user-friendly manuals.
For instance:
| Attribute | Details |
|---|---|
| Estimated Smart Home Water Sensors and Controllers Market Size (2023) | USD 590.5 million |
| Projected Smart Home Water Sensors and Controllers Market Valuation (2033) | USD 960.0 million |
| Value-based Smart Home Water Sensors and Controllers Market CAGR (2023 to 2033) | 5.0% |
| Historical Data Provided in Smart Home Water Sensors and Controllers Market | 2018 to 2022 |
| Forecast Period Provided in Smart Home Water Sensors and Controllers Market | 2023 to 2033 |
| Quantitative Units of Smart Home Water Sensors and Controllers Market | Value (USD million) |
| Segments Covered in Smart Home Water Sensors and Controllers Market Study | Type, Application, Region |
| Regions Covered in Smart Home Water Sensors and Controllers Market Report | North America; Latin America; East Asia; South Asia Pacific; Western Europe; Eastern Europe; Middle East & Africa |
| Key Countries Covered in Smart Home Water Sensors and Controllers Market | United States, Canada, Brazil, Mexico, Germany, Italy, France, United Kingdom, Spain, Russia, GCC Countries, India, China, Japan and Australia |
| Smart Home Water Sensors and Controllers Market Top Players | Conservation Labs Inc.; Loop Labs Inc.; Moen Inc.; OVAL Digital Inc.; Phyn LLC |
The smart home water sensors and controllers market might top USD 960.0 million by 2033.
Commercial and residential are two smart home water sensors and controller applications.
Loop Labs Inc., Moen Inc., and OVAL Digital Inc. are the leading manufacturers.
Growing adoption of ZigBee and Wi-Fi 6 is set to be a new trend.
Smart home water sensors and smart home water controllers are the two main types.
| Estimated Size, 2024 | USD 93.9 billion |
|---|---|
| Projected Size, 2034 | USD 386.9 billion |
| Value-based CAGR (2024 to 2034) | 15.2% |
| Global Market Size (2022E) | USD 49.2 billion |
|---|---|
| Global Market Value (2032F) | USD 318.2 billion |
| Global Market CAGR (2022 to 2032) | 20.5% |
| Market Value (2022) | USD 78,342.6 Million |
|---|---|
| Market Anticipated Value (2032) | USD 2,50,456.9 Million |
| Projected CAGR (2022 to 2032) | 12.3% |
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Smart Home Water Sensors and Controllers Market
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