During the Digital Decade, the European Union (EU) is facing two important challenges: the green (and energy) transition and the digital transition, which are interconnected with one another. These transitions are of high relevance in several aspects of our life, e.g., in the industry, energy sector, transports, environmental management and our daily life. Digital technologies are particularly emerging also as multi-benefit solution in the water sector, as water is becoming more and more vulnerable to climate change (e.g., droughts and floods) and human activities (e.g., pollution and depletion). Within this context, in this study we assessed some of the several economic benefits that digital solutions can bring to the water sector, with a focus on leakage reduction in water distribution networks, reduction of combined sewer overflows and improvement of hydropower generation and operation. The benefits are calculated for each EU Member State and the UK, and then aggregated at the EU scale. Benefits were quantified in EUR 5.0, 0.14 and 1.7 billion per year (EUR 13.2 per person per year, on average), respectively, excluding environmental and social benefits, which may play a non-negligible role.