1 November 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.
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.
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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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