Smart water networks to surpass 3.3 billion in annual revenue by 2022

Water conservation

A recent report from Navigant Research finds that global smart water networks market will expand from $1.1 billion in annual revenue in 2013 to more than $3.3 billion in 2022.

The smart water networks market is attracting a wide range of new players and presenting established players with the opportunity to expand their business into new areas. The market is driven by the need to meet the growing demand for water conservation systems as well as the tough environmental targets.

“The water industry is hungry for change, but also conservative in its operations and restricted in its financial options,” says Eric Woods, research director with Navigant Research. “Smart water networks are an intrinsic part of the transition of the industry to a data-centric business that is able to maximize the benefits of intelligent devices, IT, and communications networks.”

Water conservation

The rapid urbanization will help drive innovation and growth in the smart water market in the coming years. In the next 4 decades almost 3 billion additional people living in cities will require drinking water and wastewater services, along with other basic services.

Replacing aging water infrastructure in established cities is expensive and disruptive, and building new reservoirs is even more challenging, the research said. Smart water networks can play a role in conserving water and expanding services while using existing infrastructure.

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