Global Smart Water Grid Market: Overview
The global smart water grid market is prognosticated to witness its growth spurred on the back of the requirement of managing aging infrastructure, advancement in information and communication technology (ICT), disproportion of supply and demand, water scarcity, and other factors. In order to ensure smooth supply of water and keep a tab on distribution, smart water grid could be commonly installed across nations. The need for installation could increase due to inaccurate bills issued by agencies. Smart water grid helps users to have control over water distribution.
Distribution management could be effectively tracked, maintained, and monitored remotely and at a constant pace as smart water grid is integrated with ICT. The market for smart water metering is expected to gain momentum with the implementation of stringent guidelines for the regulation and preservation of circulation network.
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Global Smart Water Grid Market: Trends and Opportunities
The world smart water grid market offers different technologies, including design and engineering, ICT and analytical software, control and automation, and smart infrastructure. Used to ensure balanced water supply and demand, control and automation could be one of the frequently used technologies for smart water grid. Marginal errors in displaying accurate consumption with the use of digitalization could help control and automation to testify steady growth in the near future. Nevertheless, ICT and analytical software could exhibit strong growth owing to rapid rise in water scarcity and increasing installation of such types of smart water grid.
However, lack of government initiatives, absence of monitoring support, and massive capital investment could hinder the growth of the world smart water grid market. Nonetheless, the use of various smart water grid technologies for achieving required energy efficiency in the utilities, commercial, and residential sectors is anticipated to create ample of opportunities in the market.
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Global Smart Water Grid Market: Market Potential
In Telangana, India, Hyderabad’s water board has been putting in efforts to give it a smarter look as it awaits completion of the Outer Ring Road (ORR) and peripheral water supply projects. While water contamination and delayed water supply still remain as unresolved issues, the managing director of the board says that the city is making its way toward achieving surplus water availability. When asked about its best foot forward for smart water management, the board points out the need for smart water grid. Water pipelines extending up to 3,000 km currently form a water grid in peripheral areas. However, 12,000 km would be added by September or October, 2018 as part of a grid.
Global Smart Water Grid Market: Regional Outlook
Especially in areas affected by drought, countries such as India and Saudi Arabia need to prioritize water wastage and conservation, which could increase the need for smart water grid in the coming years. In case of distribution, the use of smart water grid has brought about a drastic change in developing countries in recent years. Global market growth is envisaged to gain impetus with the implementation of reformed and large-scale processes by administrators, workers, and commercial bodies.
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North America is one region prophesied to set the tone for valuable growth in the international smart water grid market with its leading share. Factors such as disputes over customer benefits, need to reduce billing errors, and the advent of advanced technologies could help the developed region to make its presence known in the market. On the other hand, Asia Pacific is foreseen to register an impressive CAGR between 2017 and 2025.
Global Smart Water Grid Market: Competitive Landscape
Top companies such as Diehl Stiftung & Co. KG, Landis+Gyr, Neptune Technology, Siemens AG, and Itron, Inc. are involved in a hard-bitten competition in the international smart water grid market. They have been largely investing in the market looking at the rise of advanced technologies and increasing focus on infrastructure upgrade, monitoring, and distribution.