Smart water management system market has a huge potential as with the rising challenges regarding water supply to the global population increase, water utilities are adopting smart technology offerings. The smart water solution is the combination of hardware and software solutions that offers increased levels of system intelligence, automation and control, and visibility. These technologies are increasingly being delivered through new business models, such as software-as-a-service (SaaS), or through the cloud and hence, revolutionizing water management industry.
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Determining Water Demand with Advanced technologies
One of the major challenges of water management is to determine the amount of water that any particular region is going to utilize, the next day; which can be dealt with the use of predictive analytics. This technology keeps a track on historical utilization of water by the region, analyze the data collected, considering special events, holidays, as well as the weather in that region. Using this information, authorities can determine the amount of water that the entire population is going to consume in one day. Knowing the amount of water required for overall consumption in a region on any given day, authorities can easily maintain the water level in a water reservoir or tank and then pump the water into overhead tanks as required throughout the day.
Key Focus Priority: Leak Detection
Loss of water due to pipe bursts and leakages is a major area of concern for the utilities to focus on. Utility operators and owners are focusing on reducing reliance on legacy technologies and methodologies, such as pipe replacement, by introducing more sophisticated smart solutions that involve communicating sensors and data analytics. Detecting leaks is one of the major trends that may increase the demand for smart water management solutions and hence increase the market size.
Moreover, the introduction of satellite remote sensing with semantic sensor web and geographical information systems are used to obtain real-time information about water usage, estimate the water level of rivers and to identify the new sources of water supply such as groundwater source and sanitation services. Additionally, web-enabled sensors and communication networks enable the users to know the temperature, soil moisture level and expected rainfall and aware them regarding the leakage location, domestic or own water usage and better control over water demand.
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Participants in the Smart Water Management Market
Real-time control has been observed as an effective solution and is capable of saving millions. Players that are positioning for this market include OptiRTC, EmNet, EMAGIN, Innovyze, Schneider Electric, General Electric Co., Bentley Systems, Siemens AG, among others.
Companies such as OptiRTC and EmNet have completed multiple projects across the US. EmNet is working with San Francisco for integrating Real-Time Decision Support in part of the collection system, to provide optimal pumping and storage rate recommendations to operators in real-time.
Canada-based EMAGIN, and US-based Pluto AI are using machine learning and big data analytics techniques for making it convenient for the plant operators to track asset performance and make optimized decisions.
Segmentation Analysis of the Industry
The global smart water management market has been segmented on the basis of product and applications. The market has been further sub-segmented to hardware and software. Hardware includes automated meter reading (AMR) meters, advanced meter infrastructure (AMI) meters, and other network meters. AMI meters are anticipated to have considerable share in the market during the forecast period attributed to its features such as accurate meter readings, energy voltage detection and reaction to power outgas, financial, and security.
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The smart water management market is segmented on the basis of regions includes North America, Europe, Asia-Pacific, and Rest of the world (RoW). North America is expected to have considerable market share attributed to its prolonged efforts in conducting awareness programs across countries such as the US and Canada to preserve water resources. Asia-Pacific region is anticipated to witness significant growth in the market attributed to government efforts in countries such as China and India in order to maintain water resources.
Industry Key Players
Some of the major players in the smart water management market include Schneider Electric SA, Honeywell International, Inc., SUEZ Group, Badger Meter, i2O Water Ltd., ET Water Systems LLC, TaKaDu Ltd., and Itron Inc. The increasing number of international firms has led to increased competition and high initial investment. Company acquisitions and partnerships are the business strategies undertaken by various companies to stay competitive in the market.
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