Global Smart Leak Detection Solutions Market Size

Smart Leak Detection Solutions Market Analysis

The smart leak detection solutions market is expected to register a CAGR of 8.86% during the forecast period (2022 - 2027).

• Smart leak detection solution involves pressure sensors, smart water meters, and network management software that provide users with crucial information about the health of their clean water distribution network. Further, artificial intelligence (AI) based software utilizes real-time data to provide the information that the user requires to identify the exact locations of failed pipes, detect risks, and minimize the real water losses without disrupting the operation of the network. This decision intelligence encourages users to make high capital and better operation decision in water transfers and distribution management.
• The high rate of urbanization in most emerging countries has augmented the pressure on current water and wastewater infrastructure, which, in turn, has propelled the demand for smart leak detection solutions, partly to enhance asset efficiency and partially to meet water conservation goals.
• The reduction of network leakage is identified as a crucial factor in attaining water sustainability. According to Water UK, a membership organization representing all key statutory water and wastewater service providers, there is over 345,000km of mains water pipes in the UK alone. Throughout this extensive network, Water UK briefs that 2,954 million liters of water, approximately 20-30% of UK water production, are lost daily due to the leakage. The UK regulator, Ofwat, is leading the way worldwide by setting water companies a target to lower leakage by nearly 16% by 2025. Also, the UK water companies have been dedicated to going further, seeking to provide a 50% reduction in leakage by 2050.
• As water companies focus on monitoring their network more closely, they are significantly seeking to adopt smart leak detection devices and solutions to build a smart model, running simulations of extreme weather events and the effect on their system. This, in turn, facilitates the water companies to foresee potential overspill events and helps them prioritize decisions about network investment.
• Further, utilities' focus on a 'one-stop solution provider' for leak detection in both their wastewater and water networks is boosting solution providers to adopt new business models such as leak (or non-revenue water (NRW)) management-as-a-service (LMaaS) and technology-as-a-service (TaaS). LMaaS helps concentrate on the growth and market penetration of smart solutions like continuous leak monitoring and proactive prevention, whereas, TaaS facilitates service providers to control and strategically expand and improve their technology offerings.