Study says water utilities in US may invest $8.3bn in smart infrastructure
A new study published by smart infrastructure market intelligence firm Northeast Group has revealed that water utilities in the US are projected to invest $8.3bn in smart infrastructure by 2027.
As part of the new study, a survey of 340 water utilities was carried out across all 50 states in the country.
It was found that more than 80% of respondents were either already investing or looking to invest in smart water infrastructure in order to improve their operations.
Based on the survey, operational efficiency, general modernisation of infrastructure and the reduction of non-revenue water (NRW), were found to be the leading drivers of this investment.
Barriers included logistical challenges and wariness over new technology and financing.
Northeast Group president Ben Gardner said: "Our survey results show that water infrastructure in the US is modernising, but utilities still have not taken full advantage of the technology they have available to them to improve operations and maximise efficiency.
"Smart metering and other sensors with two-way communications can help a sector in great need of modernisation. These investments will grow, especially as cities look to integrate water infrastructure with broader smart city and Internet of Things (IoT) initiatives."
Vendors such as TaKaDu, Trimple, Valor Water Analytics and several others in the US are expanding in the developing market for water software and analytics.