The Insight Partners: The vulnerabilities of the intelligent water meters and the associated networks of being hacked by cyber-attackers would pose a challenge to the adoptions of smart water meter systems that is anticipated to grow at a CAGR of 12.4%.
Smart Water Meter Market to 2025 – Global Analysis and Forecast by Types, Components, and End-Users. Smart Water Meter market is expected to grow to US$ 3,832.0 Mn by 2025 from 1,506.2 Mn in 2017. The smart water meter technology is increasing the interest among the water management authorities across the globe owing to varied advantages over the conventional systems. This advanced technology is helping the authorities to gather real-time information on water loss through leakage or illegal tapping, the technology is also becoming vulnerable to cyber-attacks, as the data logged through the integrated loggers are stored or uploaded on cloud or manufacturer designed storage point. Attributing to the new and advanced technology, the cyber-attack personnel or are acquiring the smart water meter technology and getting hold of various software and communication system, aiding them to acquire information about the water management systems over a region. This is a key threat to the water management authorities in securing crucial information.
Non-revenue Water (NRW) is a major concern to the water distribution centers across the globe. The non-revenue water refers to the difference between the amount of water produced and quantity of water billed to the customers. The loss of water from the source to destination occurs due to various reasons such as leaks which are referred to as physical loss, and metering inaccuracies, tampering or theft which are apparent losses. In the current scenario, the NRW is alarming at an exponential rate leading to water scarcity and associated issues. On an average, water theft/ illegal tapping is responsible for 8% non-revenue water in North America year on year. The demand to troubleshoot the non-revenue water has led to innovated various technologies among which smart water meter is one of the most prominent technology prevailing in the industry and has been widely accepted by various governments.
The smart water meter technologies record hourly data related to leakage or loss along with time and date of incidence. The technology also allows the operator to review the gathered data on-site or via any platform. Many of smart water meters are equipped with alarming systems to restrict the incidence of theft or tampering of pipelines. These alarming systems facilitate in driving additional revenue from the end users location. The surging demand to monitor, control and reduce non-revenue water is increasing the companies operating in the industry to innovate and design robust technologies, which is driving the market for smart water meters in the current scenario and is also foreseen to help the market to propel in the coming years.
While there are no broad standards for water utilities to base these decisions on, many of the deployments seen use either radio frequency or cellular communications. Utilities are also not constrained by one technology; numerous deployments, such as Glendale Power & Water (USA), have used complementary communications technologies to build a robust network. Until widespread best practice and standards evolve, water utilities will need to be careful in their decisions to ensure their communications network is long-lasting. The amount of forward planning can be seen as an obstacle in adoption for many water utilities.
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