Smart water management is the next big thing due to rising water paucity and rising need of water conservation around the world. Smart water management solution providers are proactively offering smart water technologies that can help users to productively manage chronic shortage of water.
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.
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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: 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.
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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Smart Water Management: Segmentation
Segmentation on the basis of meter type:
- AMR
- AMI
- Fixed network
- Cellular network
Segmentation on the basis of solutions:
- SCADA system
- Advanced pressure management
- Advanced analytics
- Network monitoring
- Smart irrigation management system
Segmentation on the basis of service:
- Maintenance and support
Consulting services
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