The report forecasts the global smart water network market to grow at a CAGR of 14.66% during the period 2017-2021.
The report, Global Smart Water Network Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in the market is demand for clean water. Smart water technologies are gaining importance because of depleting water resources across the world and increasing wastewater disposal costs. In 2014, around 1 in every 10 people lacked access to clean water globally, and 3 in every 10 people lacked access to improved sanitation.
According to the report, one driver in the market is increasing technological integration. Growing pressure to address the challenges associated with aging infrastructure is prompting water utilities to upgrade water infrastructure. This has led to the adoption of smart water network, a cohesive overlay of systems, devices, and solutions that enable water utilities to monitor, visualize, analyze, and diagnose problems in the water network. The adoption of smart water network allows utilities to create system-wide efficiencies with the use of sensor networks and GIS.
Further, the report states that one challenge in the market is vulnerability to cyber-attacks. Smart meters come with an internally incorporated sim card that enables wireless communication between the utility company supplying water and the end-user. This communication enables utilities to obtain accurate readings remotely and bill the customer accordingly. Smart meters use wireless technology to transmit data. The data transmitted is not encrypted, which can be easily intercepted and becomes vulnerable to various threats from cyber hackers.