Smart Water Management Services Grow Exponentially
Smart water management is the future of water. Recent reports indicate that smart water management will grow exponentially in the next decade, around the world. In fact, smart water management is opening the floodgates of change for facilities and communities alike.
Let’s dig into the details: What is smart water management? What are the trends in the market? And how does it benefit facilities?
What is smart water management?
According to the International Water Resources Association (IWRA), smart water management “uses Information and Communication Technology (ICT) and real-time data and responses as an integral part of the solution for water management challenges.”
Smart water management systems allow facility managers to:
Detect, sense, measure, and record data.
Communicate within and across the system.
Analyze situations, respond quickly, and optimize solutions.
Of course, this requires an advanced infrastructure with tools like:
Sensors
Smart meters
Monitors
Dashboards
Data analytics
Data sharing tools
Alert systems
Key performance indicator (KPI) tracking
Another facet of smart water management is the Industrial Internet of Things (IIoT), which essentially refers to a system that is interconnected and wired to be online. Think of your smart home applications with speakers, lights, and TV, all connected with one mobile app.
For facility managers, smart water management can look a lot like a super-connected smart home. Your entire water system can be set up to tell you what’s going on in real time. Say goodbye to manual monthly checks. Smart water management is instant, accessible, and easy to understand.
Trends in smart water management
Globally, smart water management is expected to boom over the next several years. According to a study from Research and Markets, the global smart water management market is expected to grow by more than 62% in the next four years.
Currently, the smart water management market is worth $13.8 billion. At a compound annual growth rate of 10.1% each year, analysts expect it to reach $22.4 billion by 2026.
The report points out several reasons for this growth, most prominently:
Increased risk to water supply around the world.
Increased global urbanization.
Increased technological innovation.
Increased governmental regulations around climate and urbanization.
In a press release dated December 13, 2021, the Research and Markets team said, “Developed economies across the globe are facing a major challenge in the form of aging infrastructure, which generates a huge demand for its replacement with smart water infrastructure solutions, offering precise control over water resources through real-time data.”
What this means for your facility
Adopting smart technologies is the wave of the future. As the U.S. government seeks to improve infrastructure and increase oversight and regulations associated with water risk, companies must focus on new opportunities and technologies to stay ahead of the curve.
As it is in every other industry, digital innovation is a game-changer in water management. Armed with the right smart tools, companies can improve their data collection and analytics to support better decision-making in their facilities.
The objectives of smart water management align with the goals of most facility managers, including:
Leakage identification and control.
Consumption monitoring and reduction.
Improved water quality.
Reduced water waste.
Optimized water system efficiency.
Smart water management will help you to:
Improve life safety through early-stage detection, chemical monitoring, and regulatory documentation portals.
Decrease operation costs by optimizing systems, identifying water fluctuations, and decreasing risk and uncertainty.
Decrease capital expenditures by preserving the life cycle of mechanical assets, using predictive analytics to reduce malfunctions and downtime, and transitioning to on-demand maintenance.
At Aquanomix, we’re experts in smart water management — or, as we like to call it, “real-time water care.” We’ve been early adopters in the IIoT space, and our patented software applies the latest in smart technology to support your facility.
Smart water management is a trend that’s not going away. But it’s more than just a trend. It’s a cost-saving, lifesaving, and risk-reducing solution for facility managers.
If you’re ready to move beyond manual water management, you can learn more about smarter water management for your facility at Aquanomix.com.