Infrastructure and resiliency set to accelerate smart water systems uptake – study
The effects of climate change are being felt more on the daily. Extreme rainfall and flooding are no longer a spectacle, but rather unfortunately another newspaper headline. The result of this, however, is a rising demand for smart water systems to integrate into smart city-esque infrastructure to bolster resilience against such events; so states a new research report.
The report comes in from Guidehouse Insights. Smart Water Systems for Smart Cities analyses the global market for smart water systems and explores the market for Internet of Things (IoT)-based water technologies.
While smart water metering is seeing strong and accelerating growth emerging from the pandemic, other solutions like flood monitoring are also finding their market footing.
This is because although smart meters are, and will most likely continue to be, the smart water technology most in demand, demand for flood-based smart water solutions has also seen a significant increase over the past five years due to the rise in climate-change events. This translates to aridification in certain regions and dramatic rainfall and flooding in others.
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Smart water meters and other IoT sensors inside the water distribution system can help identify the sources of non-revenue water loss and see them remedied in days or weeks rather than months or years, according to the report.
“Smart meters are the main focus of investment, but a wide array of solutions is being developed to address all aspects of water-related issues in cities and communities. For example, IoT sensors are being used to monitor treated water supply, wastewater treatment, and warn of flooding from severe storms,” says Grant Samms, research analyst with Guidehouse Insights. “These solutions are seeing increased adoption at a time when cities and water utilities are recognising how climate change will exacerbate water challenges.”
The report further states that annual smart water system sales revenue is expected to more than double from $4.92 billion in 2022 to $11.82 billion by 2031 at a compound annual growth rate (CAGR) of 10.2%.
