Smart Water Management Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027) – QNT Press Release

New York, May 03, 2022 (GLOBE NEWSWIRE) — announces the release of the report “Smart Water Management Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)” –
89% during the period 2022-2027 (henceforth referred to as the forecast period).

Key Highlights
In recent years, owing to increasing population and urbanization, the global demand for water and the need to address the cost implications of maintaining aging infrastructure are among the major motivating factors for growth in the smart water management market.
Smart water management (SWM) uses information and communication technology (ICT) and real-time data and responses, which is an integral part of the solution for water management challenges. The potential application of smart systems in water management is vast and includes solutions for water quality, water quantity, efficient irrigation, leaks, pressure and flow, floods, droughts, and much more.
Water scarcity may directly affect nearly 20% of the human population by 2025, UN reports state, and indirectly influence the rest of the planet’s inhabitants. Smart water systems based on the combination of the IoT, big data, and AI technologies may help stop these predictions and undo the damage the imprudent usage of water resources has already caused.
The proliferation of IoT and smart cities regionally is also expected to promote growth in the market. The technological advancements of smart meters and their integration with communication solutions (SCADA, GIS, etc.) have transformed water management to address the challenges faced by water utilities , residents, and industries, in terms of inaccurate billing and water management.
Investments in water security comprise a heterogeneous range of activities. For example, investing in a wastewater treatment plant is different from financing a floodplain to protect a city from flood risks. Similarly, financing the construction and start-up of a new desalination plant raises different challenges and opportunities than financing the refurbishment of one in operation. At the same time, the range of financiers is also diverse, with different mandates, investment objectives, risk appetites, and liquidity needs.
Municipalities globally suffered heavily from the loss of funds due to the COVID-19 pandemic. However, these losses are driving the digitalization of the water sector. The new project out of Duke University, the Internet of Water, unites the United States communities into a national network of users, hubs, and producers to share standardized water usage information and new technologies to create a modern …

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