LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global IoT market in potable water monitoring provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Technavio’s market research analysts predict that this market will grow at a CAGR of almost 17% through 2021. At present, clean potable water has become an essential requirement, therefore, there is a significant need for real-time monitoring in water supplying utilities. Intensive budget requirements, limited clean water resources, stringent regulations for human health, and increased attention to safeguard water supplies from any type of contamination are some of the factors contributing to rising adoption of IoT in potable water monitoring.
Sushmit Chakraborty, a lead analyst from Technavio, specializing in research on automation sector, says, “With the rapid development of economy across the globe, problems related to environmental pollution are surfacing at a rapid pace. Water pollution is one such critical issue. This is contributing to the high requirement for monitoring the quality of potable water before its use.”
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The top three emerging trends driving the global IoT market in potable water monitoring according to Technavio research analysts are:
- Increasing adoption of smart sensors
- Developments in global water industry
- Emerging digital water programs globally
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Increasing adoption of smart sensors
A smart sensor is a device that collects input from the environment and compares them with the output data to perform predefined functions. It provides advantages such as facilitating reduced interconnecting wires. It also offers increased reliability and helps improve a facility's performance.
“Vendors such as Rockwell Automation offer such integrated smart sensors that increase the productivity of their users moderately. It is noted that the backbone of the IoT lies in the deployment of smart sensors for industrial applications. In potable water monitoring as well smart sensors will find the increased application,” according to Sushmit.
Developments in global water industry
At present, with a growing global population and high rate of industrialization, the water industry has experienced a high pressure for expansion and betterment of facilities. Vendors providing devices for water monitoring and management are witnessing high demand for their products, especially from the municipal sector and the private utilities.
Economic development with high pace of urbanization is also tuning the need of efficient water monitoring solutions. Industries are more concerned with water and wastewater treatment to reduce their expenses in extracting new water from the water bodies and find it economical to recycle the water in the premises. Stringent regulations for water conservation are also prompting the existing industries to replace their old infrastructure and enable real-time water monitoring.
Emerging digital water programs globally
Governments of different regions are implementing digital water solutions to overcome challenges of acute water and wastewater infrastructure. Issues regarding sewage overflow and leakages in pipelines allow impurities to mix with water and make it polluted and harmful for human health.
Digital water solutions connect water plant operations throughout distribution networks, and therefore, optimize the treatment and quality monitoring. The software can improve operational efficiency and provide quality water to municipalities and consumers around the globe.
The key vendors are as follows:
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