Growing demand for smart water management solutions — including water reuse and zero liquid discharge technologies — in the industrial segment is speeding the growth of the water and wastewater market. The global water market for 2017 is estimated to have a revenue of more than $652 billion, exhibiting a growth of 5.7% from the industrial segment and 3.8% from the municipal segment, according to a new report from Research & Markets.
The report indicates that demand for water management solutions in the municipal segment is being driven by:
- huge investments made to build resilient cities across the world
- a continual push for circular economy
- increasing attention on decentralized treatment systems due to their efficiency, cost effectiveness and better reuse capabilities
- water stress and with rapid industrialization in rapidly growing economies such as India and China
- implementation of the Internet of Things (IOT) in water and wastewater infrastructure that has helped in ensuring optimization and efficiency.
The municipal and industrial water market covers the total expenditure of the following across treatment plants and networks: design and engineering, operation and maintenance, water and wastewater technology, process control management, chemicals.
The continued environmental efforts of organizations large and small have continued to drive the growth of various environmental management equipment markets, including water management. A study from last spring indicated that the smart water metering market is expected to grow by 8.8% over the next decade.