Xylem is a global water technology company that designs, manufactures, and services equipment and solutions across the full water cycle — from moving and treating drinking water, to collecting and treating wastewater, to measuring and managing water networks. Xylem serves two primary customer groups: water and wastewater utilities, and industrial customers such as data centers, semiconductor fabs, food & beverage manufacturers, and mining operations. Xylem sells through direct sales forces for large utility and government customers, and through distributors for smaller accounts. The company operates four segments: Water Infrastructure (pumps and treatment systems for utilities), Applied Water (pumps, valves, and heat exchangers for building HVAC and industrial use), Measurement and Control Solutions (smart metering, network communications, and data analytics), and Water Solutions and Services (industrial water treatment, outsourced operations, and dewatering). Revenue comes from equipment sales, recurring aftermarket parts and services tied to a large global installed base, and software subscriptions and managed services. The Measurement and Control Solutions segment is the primary growth driver, anchored by the Sensus smart metering platform running on FlexNet, Xylem's proprietary FCC-licensed fixed wireless network. Xylem is executing an "80/20" simplification program — exiting lower-margin products and geographies to concentrate on higher-value business. The U.S. represents roughly 58% of revenue, and Xylem is divesting its international metering business to sharpen focus on North American smart metering, where it argues FlexNet creates meaningful switching costs.