Smart Water Management Market Size, Growth and Industry Analysis Report, 2015 to 2025
by Susan Hill Business Consultant7
September 2018, The Global Smart
Water Management Market size
is projected to witness substantial growth over the forecast period on account
of growing scarcity of fresh water and rising climate volatility. Increasing
non-revenue water (NRW), wherein water is wasted due to pipe bursts, metering
errors, thefts, leaks, and aging infrastructure, is expected to stir up the
demand for smart water management systems.
Furthermore,
surging demand for potable water in order to meet needs of increasing
population coupled with uneven distribution of resources is providing an
upthrust to the market. Stringent government regulations related to use as well
as distribution of fresh water are poised to positively impact the market.
Increasing costs of installation of hardware for SWM systems are one of the key
growth inhibitors for the market.
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SWM
systems consume low energy, which helps them edge over conventional water
management systems, thereby boosting their demand worldwide. Smart water
management systems encourage end users to achieve a cost efficient solution to
provide enough quality water to masses. Increasing usage of advanced meters as
well as sensors for detection of abnormality in water distribution is estimated
to work in favor of the market.
Rising
incorporation of information and technology (ICT) solutions in water management
can reduce pumping and repair costs, increase efficiency in resource
allocation, and reduce non-revenue water losses. Furthermore, there is an
upswing in usage of remote sensing technologies such as GIS, GPS, and satellite
radio communication systems for freshwater resource identification. These
technologies also help in analyzing environmental impact of water management
solutions. This trend is likely to offer tremendous growth opportunities for the
SWM market.
Devices
used for SWM technology, include cellular and fixed network technology.
Development of devices that support cellular technology is projected to bolster
the prominence of the technology. Furthermore, advancements in technologies
have resulted in remote accessibility of pumps, easier malfunction detection in
distribution system, and efficient monitoring & rectification of leaks as
well as disruptions in water supply. The technology is expected to witness
upsurge over the forecast period on account of increasing penetration of
cellular devices. Fixed network technology is used in semi-urban and rural
areas, where extent of cellular penetration is low.
Some
of the common SWM solutions are network monitoring, advanced pressure
management, supervisory control, data acquisition systems (SCADA), and
enterprise asset management (EAM). Services offered by SWM are segmented into
pipeline condition assessment, valve, hydrant, and information management.
The
smart water management market is anticipated to experience significant growth
during the forecast period on account of increasing scarcity of fresh water
resources in emerging economies such as India and China. Furthermore, growing
population in emerging economies is poised to increase the demand for fresh
water, which will further rev up the adoption rate of SWM techniques.
Stringent
government regulations coupled with aging infrastructure in countries such as
France and Germany are estimated to drive the demand for SWM over the projected
period. Spiraling usage of cloud-based solutions for water distribution is also
likely to stimulate the growth of the market. In other developed countries such
as the U.S., the market is projected to benefit from soaring need for
technologically advanced infrastructure coupled with growing instances of
irregular water supply.
Key
companies operating in the market are emphasizing on use of SWM solutions to
cut down risks, comply with imposed regulations, and manage rocketing resource
costs. For instance, In July 2014, Cisco announced its partnership with
Electronics City Industries Association (ELCIA) to use smart connected city
WiFi solutions in order to set up SWM and leak detection mechanism in India.
Furthermore, In August 2015, IBM announced the launch of IBM Intelligent Water software, which makes use of advanced data management, correlation and collaboration, and visualization technologies. These technologies input disparate data from various metering systems and transform them into actionable information, which is expected to enhance the level of situational management resulting in an efficient incident management. Key market players include Siemens AG; ABB Ltd; Aclara; Schneider Electric Badger Meter; Elster; General Electric (GE); HydroPoint Data Systems Inc.; Cisco; IBM Corporation; Itron; Mueller Systems; Oracle; Sensus; and Tata Consultancy Services.
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Created on Sep 7th 2018 05:16. Viewed 403 times.