AI-based Platforms Transform the Global Water Sector, Finds Frost & Sullivan

Technological advancements that require minimal maintenance or human interference become key value proposition differentiators in the water sector

Frost & Sullivan’s recent analysis, Digitalization Powering the Global Water Market, 2020, finds that smart sensors with advanced artificial intelligence (AI)- and machine learning (ML)-based data analytics platforms are on the rise in the global water sector as they require minimal maintenance or human interference. The COVID-19 pandemic has further highlighted the sector’s technological need following supply chain disruptions and a labor shortage during lockdowns, which adversely impacted the growth of the water market globally. Due to the pandemic, the global water market  declined to $805.31 billion in 2020 from $947.89 billion in 2019. The market was projected to reach $1,014.54 billion in 2020, registering an impressive growth of 7%.

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“The water market could witness more high-level consolidation of data analytics platforms in the water sector. Cellular communication technologies, such as narrowband Internet of Things (NB IoT) and long-term evolution for machines (LTE-M), could become key enablers of growth penetration and digital transformation,” said Paul Hudson, Energy & Environment Research Analyst at Frost & Sullivan. “Going forward, the product-as-a-service business model would become the most subscribed among customers for its equal risk allocation and ability to provide high value to customers.”

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Hudson added: “Smart decentralized water and wastewater treatment solutions are disrupting the market significantly. Low OPEX and holistic economic sustainability have become key drivers that enable the growth of decentralized treatment systems. Value-add services and solutions such as decision and predictive intelligence, along with a smart product line and effectively leveraging e-commerce platforms, could improve customer relationships and increase loyalty. These features have gained precedence due to the pandemic.”

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