The smart water market: a slow emergence
By: SGN Staff
While smart water is emerging as a market similar and parallel to the established smart grid market, the differences in the challenges, potential benefits and risks between the two may outweigh the similarities. A new report from IDC Energy Insights, Smart Water Market Overview, lays out what is driving the market, how it's growing and what to expect in the years to come.
The water scenario really does sound like the smart grid scenario: threats of water scarcity or shortages and the need to manage an old infrastructure are driving water utilities toward smart technology-based solutions to reduce water losses and support conservation.
One problem IDC addresses in its report is the deployment rates of those solutions are low because of a lack of understanding regarding the investment business case, a small number of successful case studies to learn from, technology issues, and the fragmented water utility market.
"Water utilities considering whether or not to invest in smart water solutions must understand the current and projected capabilities of, the potential benefits and risks associated with, and the experiences of other utilities in deploying these smart water solutions," said Rick Nicholson, group vice president, IDC Energy Insights.
A few key findings from the IDC report:
Â· The smart water metering market will grow more slowly than the smart electricity metering market, at least in North America and Europe
Â· Smart water network management solutions will grow faster than smart water metering
Â· The primary benefit is reduction of water losses
Â· Challenges include the large capital investments needed to replace aging infrastructure and the absence of a history for smart water solutions to inform business decisions
Click the link below for more details on IDC's smart water report and to order.