Market Size of NRW Smart Leak Management Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.16 Billion |
| Market Size (2029) | USD 1.88 Billion |
| CAGR (2024 - 2029) | 10.21 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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NRW Smart Leak Management Market Analysis
The NRW Smart Leak Management Market size is estimated at USD 1.16 billion in 2024, and is expected to reach USD 1.88 billion by 2029, growing at a CAGR of 10.21% during the forecast period (2024-2029).
- The global water demand is anticipated to rise continuously at a similar rate until 2050, accounting for an increase of 20%-30% above the current level of water use, primarily due to the rising demand in the industrial and domestic sectors.
- The gap between water availability and water needs increases on the supply side. Still, when considering all urban water distribution systems, water losses may reach a staggering number of 346 million cubic meters per day. This is equivalent to 30% of water system input volumes globally and would be enough to provide water to an additional 2 billion people.
- A smart utility network is one of the most useful technology investments. Utilities with remote monitoring and management seamlessly provide customer service while keeping their workers safe by limiting customer interaction.
- Usage of advanced technologies, including artificial intelligence, is also increasing, as utility providers seek more advanced solutions for leakage prevention. For instance, North WestWater Company, which introduced the United Kingdom's first water sniffer dogs, announced another new trial. In line with this, the United Utilities collaborated with inventors for developing artificial intelligence capable of hunting leaks across its pipe networks.
- Furthermore, FIDO, the cutting-edge AI platform, and in-field device use rapid machine learning to listen and interpret the unique data trail left by leaks. Then, it tracks down the leaks to pinpoint the exact location of a leak.
