Premium Insights with Future Trends in Smart Water Management Market

The global smart water management market was valued at USD 4,813.3 million in 2012 and is expected to grow at a CAGR of 17.7% during the forecast period from 2013 to 2019. However, high cost of installation of advanced metering infrastructure (AMI) inhibiting the growth of this market

In urban areas, water is the most neglected natural resource. Smart water solutions and services are still struggling for rapid adoption in major part of the globe owing to lack of regulatory support from the governments in some regions such as Africa, and Western Asia among others.

Aging water infrastructure especially in developed economies such as the U.S.A., Canada, and Germany among others is a major driver for adoption of smart water technology solutions. Aging water infrastructure results in bursts, pipe leakage, and increased customer complaints. Water regulatory bodies are mandating stricter environmental standards related to smart water management which is another important driver for this market.

Smart water management market is expected to witness substantial growth in the coming years due to stricter environmental standards mandated by water regulatory bodies across the globe and need to minimize water loss and non-revenue water (NRW). Sustainable water management policies are high on the agenda of various governments across the world. Adverse effects of climate change such as risk of flooding, rising sea levels, and longer drought periods have affected the availability of fresh water resources needed to maintain economic growth and increasing populations.

The major reason for growing demand for smart water management in urban area is increasing urban population. In 1900, about 13% of people lived in cities; however, this has gone up to over 50% and in 2013 is further expected to reach nearly 70% by 2050. These issues are compounded by aging pipe networks in various established cities. In London, for instance, around 40% of pipes are more than 100 years old. According to a survey conducted at the District of Columbia Water and Sewer Authority, the average age of pipes was 76 years with some pipes having been laid more than a century ago. IBM's smart water management system is helping Sonoma County Water Agency (SCWA) meet California's goal for all its water agencies to reduce water use by 20% by 2020. The system uses a real time collaboration platform to help balance environmental, agricultural and other needs in the Russian river water system allowing SCWA to make dynamic, informed decisions about resource allocation.

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Source: SB Wire

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Taxonomy

• Standards & Quality
• Water Management
• Infrastructure