NEW YORK, April 27, 2015 /PRNewswire/ -- The growing middle-class population in Asia-Pacific (APAC) will result in an increased demand for freshwater consumption. The region will account for more than 50% of the middle-class population globally by 2020 and 60% by 2030. Therefore, opportunities lie in the rehabilitation of old water facilities in the existing cities, and greenfield development in the new and upcoming cities. These conditions are compelling governments in different APAC countries to seek smart solutions for water conservation, treatment, and distribution. The smart water grid market in APAC is expected to expand at a compound annual growth rate of 19.0% between 2014 and 2018.
- The water industry in Asia-Pacific (APAC) will drive domestic and foreign investments with the key theme of water sustainability.
- To improve water management in the region, governments are striving to overcome challenges such as:
o Lack of water security due to growing population and economies
o Rising demand for water in the agricultural sector
o Climate change, resulting in water scarcity
- The integration of information and communications technology (ICT) with the smart water grid technology will enable the water industry to optimize operations with continuous remote monitoring and maintenance of water distribution and management systems.
- Water-efficient solutions can be customized depending upon the specific needs of different regions across APAC. This could be in the areas of smart water meters, smart pipes, smart pumps, and smart valves, among others.
- Smart water grids can significantly reduce the capital expenditure (CAPEX) and operational expenditure (OPEX) of utilities. The expected savings from the implementation of such grids is about %.
- The APAC smart water grid market is expected to grow at % in 2015 to reach $ million. It is likely to witness a compound annual growth rate (CAGR) of % between 2014 and 2018.
Read the full report: http://www.reportlinker.com/p02861674-summary/view-report.html
ReportLinker is an award-winning market research solution that finds, filters and organizes the latest industry data so you get all the market research you need - instantly, in one place.
Contact Clare: [email protected]
Intl: +1 339-368-6001