As a result of these changes, businesses will face a complex set of challenges that they should consider to sustain their competitiveness as a result of these changes.
In light of such a problem, can we turn it into an opportunity that benefits businesses, customers, and the environment? Yes, we believe so. Within the next decade, we will highlight five scenarios and opportunities that will affect the water sector in a significant way.
Through smart water network solutions, data is collected and analyzed more efficiently, thereby improving physical water infrastructure reliability.
By utilizing Internet of Things (IoT) devices and data analytics, water utilities and companies can manage infrastructure better, reduce non-revenue water loss, support essential changes to their operations, and support more efficient decision-making.
The development of smart end-to-end water networks offers businesses the opportunity to enhance employee productivity, efficiency, and customer service and improve productivity.
Investing, planning, designing, and operating are traditionally linear processes. In extracting and treating water, the source is checked for quality, used to fulfill its purpose, and then the treated water is discharged into a receiving body of water.
However, wastewater and the discharged sludge from wastewater treatment contain many valuable resources that can be recovered and reused within a circular economy to preserve the harsh and threatened environment.
A more circular approach is being implemented to reduce water consumption and achieve the overall goal of resource efficiency by moving from a linear to a more circular approach. It is expected that businesses will need to rethink the way they treat wastewater to reach this objective.
With the advent of digital technology, consumers are more empowered than ever.
Therefore, they continuously expect more products and services tailored to suit their specific needs to optimize their work, improve their quality of life, and help them achieve their goals.
Taking into account the reality of an empowered customer is essential for businesses.
With this customer-driven marketplace in place, the Water Industry is constantly challenged to explore how to create solutions with customers as part of a co-creation process.
The advantage of this is the possibility of building long-term customer relationships while solving challenges within the water domain while simultaneously resulting in good opportunities for long-term customer relationships.
Technology has completely changed the water industry and will continue to thrive. Since this industry is competitive, it is highly recommended that every water service business owner stay on top of the trends to stay competitive.