Data Analytics and Artificial Intelligence to Propel Smart Water and Wastewater Leak Detection Solutions Market
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Increasing adoption of new technologies is transforming the industry s business model from product-based solutions to leak management as a service (LMaaS), finds Frost & Sullivan
SANTA CLARA, Calif., Jan. 28, 2021 /PRNewswire/ Frost & Sullivan s recent analysis,
Data Analytics and AI Boost Accuracy to Drive Global Smart Water and Wastewater Leak Detection Solutions Market, finds that the wastewater leak detection market has witnessed a significant rate of innovation and digital transformation. Internet of Things (IoT) sensors, machine learning (ML), artificial intelligence (AI), and cloud- or edge-based data analytics platforms are boosting the market. By 2026, the market is estimated to garner a revenue of $1.99 billion from $1.23 billion in 2020, up at a compound annual growth rate (CAGR) of 8.4%.
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ResearchAndMarkets.com s offering.
Revenue from the global smart water and wastewater leak detection solutions market will grow from $1.23 billion in 2020 to $1.99 billion by 2026.
The study provides revenue forecasts from the base year of 2020 to 2026 for every region and offers a market breakdown of revenue generated by leak detection solutions and services for the water and wastewater segments, individually. Additionally, the analysis provides insights into disruptive technologies, growth opportunities based on competitive strategies, competitive landscape dynamics, and smart value-added services that could enhance growth for utilities. Throughout the study, key findings about the market are provided for the forecast period.