Valley Cottage, NY -- (SBWIRE) -- 11/13/2017 -- Smart Water Grid Market: Introduction
Smart water grid is a optimal approach towards management of water resources & network and water billing through implementation of advanced tools and technologies such as field sensors, measurement and control devices, to continuously monitor and diagnose problems in the water system. Water is an essential resource to all the nature to be able to sustain life and if plays many vital roles. With the continuous increase in population leading to rise in demand of fresh water in a scenario of limited available resources and continuously shrinking sources of water, there is an urgent need for development and implementation of some adequate water management technique, smart water grid technology is one of the most promising solution for resolving recent critical global water problem.
Smart water grid includes a two way real-time network including field sensors, measurement and control devices along with software, smart meters & various services, enabling utilities to remotely monitor the growing network along with providing a robust metering system. Hence, smart water grid market is expected to have steady growth over the assessment period.
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Smart Water Grid Market: Market Dynamics
Various features and benefits which are expected to drive the smart water grid market are water quality monitoring, demand prediction, leak/ burst detection, real time sensing, reducing unaccounted water losses and supporting planning and operations. Smart water grid market is expected to be driven owing to increasing emphasis towards improving water supply & management facility, necessity for developing accurate billing method, recognition to reconstruct aging water infrastructure and improving client relation and engagements. Current water network structure is aging and deteriorating, this system is based on large and centralized system consisting of various components (pipes segments, pumps, valves, etc.), main limitations with these systems are low operating efficiency and high energy requirement for transportation of water. Hence, some municipalities are focusing on development and implementation of smart water grid technology which integrates information & communication technology into a single smart water management scheme in order to increase the efficiencies of all elements into the water network. However, implementation of smart water grid technologies into current water infrastructure is faced with certain challenges such as power and location. Pipes are buried underground which are difficult & expensive to access.
The increasing number of smart water grid installation around the globe is driving the smart water grid market along with improving the water distribution systems. The large scale reforms and increasing investments for repair of deteriorating water infrastructure by commercial bodies, and administrative plays a vital role in the growth of smart water grid market.
Moreover, stringent rules and guidelines towards prevention and regulations for water network is expected to drive the smart water grid market. However, various limitations such as high capital investments, absence of proper monitoring systems and technologies and lack of government initiatives is expected to hamper the growth of smart water grid systems market.
Smart Water Grid Market: Segmentation
On the basis of technology smart water grid market can be segmented as:
ICT and Analytical Software
Control and Automation
Design and Engineering
On the basis of end use application smart water grid market can be segmented as:
Smart Water Grid Market: Regional Outlook
North America smart water grid market is expected dominate the global market with a steady growth during the assessment period owing to advancement of IT sector, and integral part of smart water grid. European smart water grid market is expected to have promising growth during the assessment period owing to stringent regulations and increasing initiatives taken by the government bodies to improve the aging water infrastructure. Asia Pacific smart water grid market is expected to grow at a significant growth during the forecast owing to increasing demand of smart water grid driven by rising urbanization & growing population, and continuous depleting water resource. MEA is expected to witness a steady growth in demand of smart water grid owing to water scarcity and increasing need of efficient water utilization.
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Smart Water Grid Market: Key Players
Some of the prominent players operating in smart water grid market are as follows:
Sensus Worldwide Holdings Ltd.
Badger Meter, Inc.
Neptune Technology Group Inc.
The Whitmore Group
ICT, co., Ltd.