What is Nonrevenue water?
Non-revenue smart water management is also called the digital water management market. Digital water leak detection systems mainly use IOT technology. By using sensor ability, they find the presence of leakages. It works on four basic pillars pressure management, leak management, asset conditioner monitoring, and smart analytics. Each tool work on unique principles to minimize the nonrevenue water. digital water detectors are small-size sensors combined with GPS and geographic information systems to detect and report leakage and avoid water loss.
Some of the Key Drivers of NRW smart leak management market:
Scarcity of water resources increases the demand for NRW smart leak management market:
According to the UN world water development report 2021, two billion people are living in water-stressed areas, and 45% of the world’s population does not have safe sanitation facilities. approximately 40% world’s population would face a water deficit in 2030. with such limited water resources, the country cannot provide sufficient water to the growing population. existing leak management practices are mismanaged. this scenario brings an innovative solution like NRW smart leak management to avoid the loss of non-revenue water. limited water resources drive the growth of the NRW smart leak management market.
Rising demand to minimize non-revenue water losses:
water leakage is the more persistent problem in corporation water systems. undetected leakages might cause infrastructural dampness, which leads to accidental slips. the market growth is expected to grow by rising demand for the reduction of non-revenue water losses.
Aging water infrastructure creates the demand for NRW smart water management market:
Developed countries like UK and US has more complex infrastructure. water infrastructures are aging with time and create problems like pipe corrosion, breakage, cracks, and so on. Fixing the smart water leakage detection sensor minimizes clean and treated water losses. this factor is expected to grow the market.
Market Restraint:
Unavailability of digitally skilled labor:
smart water management systems have IoT at every step therefore they required a digitally literate workforce. The shortage of workforce is due to the aging of existing labor and lack of career awareness in the water utility sector. Therefore, market growth may be hampered by a lack of skilled labor.
The use of AI restrains market growth:
North West Water Companies introducing the United Kingdom 1st water sniffer dog to detect the water pipe linkages. Such advancement in technology may decrease the sale of the smart water leak management market.
Conclusion:
The nonrevenue smart water management market growing by increasing demand to minimize the losses of nonrevenue water, increasing demand for water management globally, and aged water infrastructure in developed countries. The market growth may be hampered by the lack of a digitally literate workforce and advancement in technology.
Author's Detail:
Swasti Dharmadhikari /
LinkedIn
Swasti an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.
In her current role, Swasti manages research for service and software category, leading initiatives to uncover market opportunities and enhance competitive positioning. Her strong analytical skills and ability to provide clear, impactful findings have been crucial to her team’s success. With an expertise in market research analysis, She is adept at dissecting complex problems, extracting meaningful insights, and translating them into actionable recommendations, Swasti remains an invaluable asset in the dynamic landscape of market research.
