South Korea Smart Water Management Market

South Korea Smart Water Management Market Overview:

The South Korea smart water management market size reached USD 373.54 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 852.38 Million by 2033, exhibiting a growth rate (CAGR) of 9.60% during 2025-2033. Government policy and regulatory environments are driving the uptake of water management systems in South Korea. Moreover, the necessity for modernized infrastructure is contributing to the market growth. Apart from this, the exceptionally fast rate of technological innovation and digital revitalization of other industries is expanding the South Korea smart water management market share.

South Korea Smart Water Management Market Trends:

Government Policy and Regulatory Support

Government policy and regulatory environments are driving the uptake of smart water management systems in South Korea. South Korea's government has made water conservation and resource optimization a priority, integrated into its overall environmental and smart city policies. Initiatives like the Smart Water City project, advocated by the Ministry of Environment, are focused on the digitalization of water infrastructure and the application of advanced technologies. The policy provides economic incentives, grants, and technical assistance to municipal governments and utility companies that install smart water systems. Moreover, national policies focusing on water quality, leak reduction, and energy efficiency are driving a strong need for sophisticated monitoring, analytics, and automation solutions in water utilities. This policy momentum is also complemented by South Korea's vision of becoming carbon neutral by 2050, with smart water technologies considered an essential part of lowering operational emissions and enabling sustainable urbanization. In 2024, the Korea Water Resources Corporation (K-water) received a commendation from the Global Green Growth Institute (GGGI) for its important role in promoting green growth and achieving carbon neutrality. The accolade acknowledges K-water’s significant efforts in addressing climate change, especially via its creative renewable energy projects. These initiatives have been instrumental in advancing the Republic of Korea’s shift towards a Net-Zero society and have impacted national policies concerning green growth and carbon neutrality.

Urban Developments and Infrastructure Modernization

The necessity for modernized infrastructure is contributing to the South Korea smart water management market growth. With increasing urban populations and urban agglomeration, the requirement for efficient and reliable water supply as well as wastewater management systems has increased. Most urban areas in South Korea are challenged with problems related to aging water infrastructure such as excessive leakage, intermittent supply, and inefficient maintenance. All these challenges call for a transition to intelligent technologies that provide real-time monitoring, predictive maintenance, and automated control functions. By the conclusion of 2023, following discussions and decisions from the National Water Resources Management Committee, 20 local rivers were officially designated and upgraded to national river status. Of those, 10 rivers were improved first in October 2024, while the other 10 rivers, including the Jucheon River, were upgraded beginning in January 2025. Connected systems driven by Internet of Things (IoT) sensors, big data analytics, and cloud computing can identify pipe failures, streamline distribution, and improve water quality control. Municipalities and utilities are thus investing in smart grid water systems and digital twins to provide sustainable urban water management. Such modernization also aligns with other wider smart city development objectives, further solidifying smart water solutions as fundamental infrastructure investment priorities.

Technological Innovation and Digital Revitalization

The exceptionally fast rate of technological innovation and digital revitalization of other industries in South Korea is another major driver boosting the growth of the smart water management market. South Korea, which boasts a robust ICT infrastructure as well as an innovation ecosystem, has seen extensive advancements in the evolution and addition of technologies like artificial intelligence (AI), machine learning (ML), and the IoT. These technologies are being incorporated into water management systems to improve efficiency in operation, lower water loss, and facilitate data-driven decision-making. For instance, AI-driven platforms can make predictive decisions on past usage trends and weather outlooks to schedule water supply optimally, while IoT-supported sensors can identify anomalies in real time to avoid expensive leaks or contamination. Cloud-based platforms also allow central command and remote monitoring of key system data, making both urban and industrial water management a breeze.

South Korea Smart Water Management Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2025-2033. Our report has categorized the market based on component and application.

Component Insights:

• Devices 
  • Advanced Water Meters
  • Meter Read Technology
• Software Solutions 
  • Asset Management
  • Distribution Network Monitoring
  • Supervisory Control and Data Acquisition (SCADA)
  • Meter Data Management (MDM)
  • Advance Analytics
  • Others
• Services 
  • Managed Services
  • Professional Services

The report has provided a detailed breakup and analysis of the market based on the component. This includes devices (advanced water meters and meter read technology), software solutions (asset management, distribution network monitoring, supervisory control and data acquisition (SCADA), meter data management (MDM), advance analytics, and others), and services (managed services and professional services).

Application Insights:

• Residential
• Commercial and Industrial

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes residential and commercial and industrial.

Regional Insights:

• Seoul Capital Area
• Yeongnam (Southeastern Region) 
• Honam (Southwestern Region) 
• Hoseo (Central Region) 
• Others

The report has also provided a comprehensive analysis of all the major regional markets, which include Seoul Capital Area, Yeongnam (Southeastern Region), Honam (Southwestern Region), Hoseo (Central Region), and others.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

South Korea Smart Water Management Market Report Coverage:

Key Questions Answered in This Report:

• How has the South Korea smart water management market performed so far and how will it perform in the coming years?
• What is the breakup of the South Korea smart water management market on the basis of component?
• What is the breakup of the South Korea smart water management market on the basis of application?
• What is the breakup of the South Korea smart water management market on the basis of region?
• What are the various stages in the value chain of the South Korea smart water management market? 
• What are the key driving factors and challenges in the South Korea smart water management market?
• What is the structure of the South Korea smart water management market and who are the key players?
• What is the degree of competition in the South Korea smart water management market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the South Korea smart water management market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the South Korea smart water management market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the South Korea smart water management industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.