Water information technology (IT) is a US$530-million market today, with potential to address a US$16.3-billion market in 2020, according a new report from Lux Research.
Water Information Technology Companies on the Lux Innovation Grid, the report provides a visual snapshot of five market segments: water mapping, water infrastructure, water quality monitoring, smart meters, and smart irrigation. It also quantitatively ranks companies within each segment according to their technical value, business execution, and maturity.
“Water IT hasn’t received much attention until now, but the need for water management is bringing it to the fore,” said Heather Landis, an analyst for Lux Research, and the lead author of the report. “Utilities are becoming more and more accountable for water losses, but they lack the tools they need to measure those losses. Water IT not only provides solutions, it can save utilities money by helping them dial-in on what parts of their infrastructure need to be fixed.”
The report pulls from information gathered in over 50 interviews with executives of companies working in the space over the last year. “One of the keys to success in this growing market will be to partner with companies with unique and innovative water management solutions,” said Landis.
For more information about water and information technology advancements, read “Managing the Ultimate Asset” from CWT’s November/December issue.