By Frost & Sullivan
With rapid urbanization, availability of good-quality water is becoming scarce. Adding to that pressure is increasing population and pollution. The world population is increasing by 80 million each year, growing to be globally water-scarce by 2025. Hence, it is getting crucial to consider alternative options before the global scarcity increases significantly. The increasing population triggering growth in water demand calls for improvement in both the quantity and quality of water. Increasing water demand to support cities, industries, and agriculture is resulting in
Innovation in the water industry has led to a number of cutting-edge advancements in wastewater treatment. Water and wastewater municipalities are on a continuous search for novel tools. The treatment technologies have been evolving over time, addressing different kinds of pollution problems. For instance, utilities were not too particular about treating micro-pollutants a few years ago; however, it has become a concern in Europe. Micro-pollutants can be addressed with technologies that can detect and treat low-concentration pollutants. Activated carbon adsorption and innovative filtration technologies are employed by utilities to treat micro-pollutants.
Many technology companies are constantly addressing issues related to drinking water quality and effluent quality. Automation of such treatment processes has been made possible through Supervisory Control and Data Acquisition (SCADA), albeit with limitations. Developments in the field of IoT in the water industry have improved water management. With various collaborative tools that can integrate water treatment technologies with sensors, analytics platforms have enhanced customer satisfaction. IoT-led innovation is re-designing the water industry and its value chain. It is changing a vertically integrated water industry into a diverse, dynamic, and well-distributed system. For instance, IoT has transformed the way smart meters are collecting and processing customer data, thus aiding utilities in producing critical business insights concerning real-time and
Customer-centric innovation, digital transformation, predictive analytics, value-added services, and exemplary customer service will drive the advanced water treatment systems market. Frost & Sullivan has identified the market potential of advanced water treatment systems with
Despite all these advancements in the water and wastewater treatment systems, many emerging economies lack the funding option to move to advanced treatment systems. These utilities heavily rely on subsidies and, hence, look out for financially viable options or business models. In some cases, the utilities delay the implementation of such technologies. Such lacuna can be addressed by innovative business models that can add tremendous value to the utilities and increase the penetration rate of these technologies. One of the innovative business models is Pay for Performance where companies set up pilot plants for utilities or industries and establish the performance of the system before charging clients.
Prepaid water and wastewater treatment services is another innovative business model that can robustly address
The advanced treatment technologies or smart technologies will be the ‘new green’, as they serve to improve process efficiencies while cutting costs and making the measurements and indication aspect of
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