Smart Water Management Market to Expand with Significant CAGR During 2017-2027
Smart water management is being adopted mainly by manufacturing firms and chemical based companies to reduce water wastage and for efficient use of their resources. Smart water management technology helps organizations for identification of network problem, enhances customer engagement in water conservation and most prominently used to reduce non-revenue water losses due to damage of infrastructure.
The three main components of smart water management system are hardware, solutions and services. Smart water management can be categorized into two sub segment as meter type and meter read technology. Smart water meter can be used for the purpose of non-revenue water problem detection and identifying leakage in infrastructure. Moreover, automated meter reading technology provide solutions and services such as advanced analytics and network monitoring. It also helps to identify problematic areas within the water management system.
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Smart Water Management: Drivers and Challenges
The major factors driving smart water management market are technological advancement, change in regulatory compliances and growing awareness of sustainable use of energy resources.
Implementation of these modern technologies such as smart monitoring which is internet of things based technology is used to analyze water treatment system and control water management on real time basis.
The increasing usage of supervisory control and data acquisition solution is another important factor that is driving this market. It enables quality decision making and reduce energy cost in pumping water through distribution network. Smart water management also implements advance analytic solution for improvement of infrastructure and operations.
The major restraints face by smart water management are costly initial investment requirement and low rate of return. Moreover, due to lack of expertise and talent availability the market for smart water management is increasing slowly. However, Smart water management is entitled to a tremendous opportunity related to water utilities to realize significant financial savings.
Smart Water Management: Segmentation
Segmentation on the basis of meter type:
Segmentation on the basis of solutions:
Advanced pressure management
Smart irrigation management system
Segmentation on the basis of service:
Maintenance and support
Smart Water Management:Key Players
Some of the key players of smart water management market are: IBM, ABB Group, General Electric, Honeywell, Schnidler Electric, AVEA, Takadu, Topcon, and Trimble.
In May 2016, IBM sets up Intelligent Operations Center (IOC) to enhance the efficiency of critical infrastructure and utilities. In this project smart water management heavily relied on manual intelligence.
In July 2016, Optiqua technologies pvt Ltd has enter into the partnerships with Shandong provincial water and waste water monitoring center this water quality partnership will help to develop integrated water quality management system.
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Smart Water Management: Regional Overview
Presently, North America and Europe regions are holding the largest market share of smart water management due to adoption of advance meter infrastructure technology by various organizations. Out of the various advanced technologies, AMI technology has a wide impact towards service restoration and verifying power outage. The adoption of SCADA solution is also impacting the market of smart water management in a positive manner.
The market of smart water management is witnessing high growth rate in the regions of Latin America and Asia Pacific due to high demand of infrastructure projects.
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