Smart Home Water Sensors and Controllers Market

Smart Home Water Sensors and Controllers Market Outlook from 2023 to 2033

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 US$ 960.0 million by 2033.

By 2023, the smart home water sensors and controllers market is anticipated to reach US$ 590.5 million. It is estimated to create a competitive advantage worth US$ 369.5 million in the assessment period.

Attributes	Key Insights
Smart Home Water Sensors and Controllers Market Estimated Size (2023E)	US$ 590.5 million
Projected Smart Home Water Sensors and Controllers Market Valuation (2033F)	US$ 960.0 million
Value-based Smart Home Water Sensors and Controllers Market CAGR (2023 to 2033)	5.0%

Key Smart Home Water Sensors and Controllers Market Highlights

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.

2018 to 2022 Smart Home Water Sensors and Controllers Market Vs. 2023 to 2033

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 US$ 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)	US$ 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.

Latest Trends, Opportunities, and Challenges

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
Latest Trends	Use of AI algorithms to analyze water usage data to forecast excessive consumption or leaks is set to push demand as these can lower water-related damage and accelerate proactive maintenance. Increasing development of smart water sensors and controllers to smoothly blend with extensive smart home ecosystems might be a key trend in the global smart leak detection solutions market.
Upcoming Opportunities	Growing use of smart water sensors and controllers in industrial and commercial spaces such as factories, hotels, and offices to reduce environmental impact can create opportunities. Key companies might join hands with municipalities and water utilities to compel homeowners to adopt smart water solutions, thereby leading to low water bills and water conservation initiatives.
Challenges	Collection of crucial data by smart home water sensors might raise concerns about security and privacy as these can lead to potential misuse and unauthorized access. High cost of smart home water sensors might be a challenge for homeowners in emerging countries with limited budgets.

Semi-annual Smart Home Water Sensors and Controllers Market Overview

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%

Comparative View of Adjacent Smart Home Water Sensors and Controllers Markets

The global smart home water sensors and controllers market is likely to be impacted by the peer or tangential markets in the technology industry. These include other markets such as the ultrasonic flowmeters market and the smart factory market. The global sales outlook of the smart home water sensors and controllers market can provide deeper insights that might help develop unique differentiating strategies to pursue growth and opportunity.

Out of the 3 markets, the smart factory market is set to dominate, followed by the ultrasonic flowmeters market with valuations of US$ 140.7 billion and US$ 735.5 million in 2023, respectively. All three markets are anticipated to be driven by increasing adoption of the Internet of Things (IoT), artificial intelligence, and other advanced technologies.

Smart Home Water Sensors and Controllers Market:

Attributes	Smart Home Water Sensors and Controllers Market
CAGR (2023 to 2033)	5.0%
Market Value (2023)	US$ 590.5 million
Growth Factor	Rising concerns about water scarcity on the back of increasing population and climate change are set to propel the smart home water sensors and controllers market demand.
Key Trend	Surging shift toward evaluating water quality with smart sensors might spur demand as these can detect water hardness, pH levels, and contaminants.

Ultrasonic Flowmeters Market:

Attributes	Ultrasonic Flowmeters Market
CAGR (2023 to 2033)	4.8%
Market Value (2023)	US$ 735.5 million
Growth Factor	Rising use of ultrasonic flowmeters in applications such as oil & gas, HVAC systems, water & wastewater, and food & beverage might push demand.
Key Trend	Increasing adoption of non-invasive ultrasonic flowmeter technologies to enable them to prevent maintenance challenges, contamination, and pressure drop is a leading trend.

Smart Factory Market:

Attributes	Smart Factory Market
CAGR (2023 to 2033)	10.7%
Market Value (2023)	US$ 140.7 billion
Growth Factor	Growing adoption of intelligent technologies with ongoing technological advancements and enhanced industrial prospects might support the market.
Key Trend	Increasing demand for artificial intelligence, IoT, and industrial robots in the industrial environment is likely to be a key trend.

Country-wise Insights

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 US$ 175.4 million by 2033.

The United States might reach US$ 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 US$ 135.0 million.

Countries	Market Value (2033)
United States	US$ 163.6 million
United Kingdom	US$ 30.8 million
China	US$ 175.4 million
Japan	US$ 135.0 million
South Korea	US$ 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%

Insurance Firms in the United States to Offer Automated Water Sensing Systems

The United States smart home water sensors and controllers market is anticipated to top a valuation of US$ 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.

Sustainability Concerns in the United Kingdom Spur IoT-enabled Water Sensors

The United Kingdom will likely achieve a valuation of around US$ 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%.

Government Initiatives in China Fuels Digital Water Control System Demand

China is set to attain a smart home water sensors and controllers market cap worth US$ 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.

Modern Societies in Japan to Demand Automated Residential Water Controllers

Japan is projected to reach a smart home water sensors and controllers market capitalization of US$ 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.

ZLD Treatment in South Korea to Propel Demand for IoT-enabled Water Sensors

South Korea is predicted to outperform a valuation of US$ 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.

Category-wise Insights

Smart Home Water Sensors to Exhibit Skyrocketing Demand Through 2033

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.

Water Damage in Commercial Spaces to Push Demand for Smart Home Controllers

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 US$ 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.

Competitive Landscape

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:

• In January 2023, Alarm.com unveiled the Water Dragon at the Consumer Electronics Show (CES) in 2023. It is a new whole-home water protection system that is constantly on the lookout for potential leaks and unforeseen water usage. It is a small gadget that employs ultrasonic technology to quickly inform consumers about water-related problems before they worsen. It interacts with Alarm.com-powered home security systems.
• In November 2022, leading smart home firm Vivint Smart Home, Inc. released Vivint Repair: Water Sensor Experience. It can help notify sensor consumers of leaks and facilitate connections to a reputable water emergency cleanup provider immediately as a water loss event is identified in their house. This ground-breaking monitoring service will dramatically reduce the costs of water crises for consumers and insurers.
• In May 2021, Phyn, one of the most prominent brands in smart home leak detection and water monitoring, unveiled a new line of gadgets. These would assist consumers in monitoring water leaks in their homes and places of business. The Phyn Smart Water Sensor, a battery-powered, hockey-puck-sized gadget that can track temperature and humidity changes, as well as leaks, is the star of the show.

Scope of the Smart Home Water Sensors and Controllers Market Report

Attribute	Details
Estimated Smart Home Water Sensors and Controllers Market Size (2023)	US$ 590.5 million
Projected Smart Home Water Sensors and Controllers Market Valuation (2033)	US$ 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 (US$ 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

Smart Home Water Sensors and Controllers Market Outlook by Category

By Type:

• Smart Home Water Sensor
• Smart Home Water Controller

By Application:

• Commercial
• Residential

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• South Asia and Pacific
• East Asia
• Middle East and Africa

Frequently Asked Questions

How big is the smart home water sensors and controllers market?

The smart home water sensors and controllers market might top US$ 960.0 million by 2033.

What are the applications of smart home water sensors and controllers?

Commercial and residential are two smart home water sensors and controller applications.

Who are the leading smart home water sensors and controller manufacturers?

Loop Labs Inc., Moen Inc., and OVAL Digital Inc. are the leading manufacturers.

What are the latest trends in the smart home water sensors and controllers market?

Growing adoption of ZigBee and Wi-Fi 6 is set to be a new trend.

What are the types of smart home water sensors and controllers?

Smart home water sensors and smart home water controllers are the two main types.