(Credit: Frost & Sullivan)With the rise of digitalization, water utilities and industrial customers are expected to transition from conventional lab-based quality analysis to real-time and online smart water sensor measurement, driving the water and wastewater market towards $743.77 billion in 2019, according to a new report from Frost & Sullivan.
Water utilities are choosing smart water meters enabled by automated metering infrastructure (AMI) communication modules over automated meter reading (AMR). Many advanced water utilities are likely to explore the use of satellites, drones, and robotics for leak detection, condition assessment, and asset management. Leading water companies are leveraging these types of capabilities to provide one-stop solutions for operations and maintenance, giving them significant revenue opportunities. Software companies are developing asset management platforms - both customizable or used as a one-stop solution - that can integrate multiple data points to provide a packaged data set that can improve overall system efficiency.
The leading software and data analytics solutions providers include Kisters, TaKaDu, Royal HaskoningDHV, IBM, Microsoft, and Accenture, Frost & Sullivan says.
Digitalization has significantly bolstered the adoption of circular economy in the water use cycle, and utilities across the world are heavily investing in water reclamation and reuse. But to take advantage of additional growth opportunities, Frost & Sullivan says, they need to:
Asia-Pacific, especially China and India, will continue to be the leading growth destinations in both the municipal and the industrial sectors due to rapid urbanization and stable economic growth. Advanced utilities in North America and Europe, meanwhile, are exploring, adopting, and implementing non-revenue water (NRW) reduction, asset management, and predictive maintenance services.
