Global Smart Leak Detection Solutions Market for Water and Wastewater Industries Market Size (2024 - 2029)

Smart Leak Detection Solutions Market Analysis

The Global Smart Leak Detection Solutions Market for Water and Wastewater Industries is expected to grow at a CAGR of 12.92% over the forecast period (2022-2027). Water leaks are a major source of operating costs in the industrial sector. Aside from industrial facilities, better monitoring through smart leak detection allows for accurate and near-real-time monitoring of public water and wastewater.

A smart water leak detection solution mainly uses IoT technology. It utilizes sensor abilities to detect the presence of leakages. If the leakages are left undetected, they might cause infrastructural dampness, leading to accidental slips. Innovative water flowmeters with smart instrument technology can help even the most remote water networks operate efficiently.

The transformation of cities into metropolitan cities increases pressure on water resources. The rising demand for water to meet domestic needs and the impact of wastewater discharge on receiving waterways have a cumulative effect on receiving water quality.

With the growth of the Internet of Things (IoT) sensors, machine learning (ML), artificial intelligence (AI), and cloud- or edge-based data analytics platforms, the leak detection market has seen a considerable rate of innovation and digital transformation. Leak detection systems are expected to grow faster owing to cellular LPWAN technologies such as NB IoT and LTE-M, notably among advanced utilities in Europe, Asia-Pacific, and North America.

Furthermore, the 2020 COVID-19 pandemic has revived awareness of leak detection technology, with customers being reminded that increasing water supply is a definite method to satisfy the growing need for private and public sanitation.

Smart Leak Detection Solutions Industry Segmentation

Pipeline leaks can have major effects, including a threat to human safety, environmental harm, property damage, and financial losses due to fines and clean-up costs. Pipeline operators need a leak detection system (LDS) that can identify leaks fast, precisely locate leaks, issue few false alarms, be easy to retrofit, perform efficiently under all operating situations, and use sensors with high reliability and low maintenance for optimal efficiency. The market is Segmented by Application(Industrial, Residential, and Commercial) and Geography.