Internet of Things (IoT) is a network of physical and virtual objects that create, share, and interact with data. IoT is projected to connect 50 billion devices by 2020, providing valuable information to consumers and industries on various functionalities across industries.
The explosion of IoT across industries is driven by the nexus of low-cost sensors, cloud computing, advanced data analytics, and mobility across different applications.
The water industry in Asia-Pacific (APAC) will drive the growth of domestic and foreign investment through IoT activities. IoT will play the role in the industry through the integration of information and communication technologies (ICT) with smart water grid innovation. This will enable the industry to optimize operations with continuous remote monitoring and maintenance of water distribution and management systems.
Internet of Water (IoW) should aim to address challenges in the water industry such as water scarcity, non-revenue water (NRW), water leakages, and pipe bursts through an analysis of the data generated by smart water grids.
Challenges in Smart Water Grid Market, APAC, 2016
Key Trends and Implications
- Population growth is not in proportion with the water consumption trends in emerging APAC economies. Without smart infrastructure, water availability will continue to be under stress with the increasing demand and consumption.
- The development of new smart cities and making existing cities smart will build the foundation for other advanced solutions and offerings such as smart grids and Internet of water (IoW).
- Incorporation of smart water grid with ICT results in remote and continuous monitoring, tracking, and maintenance of water distribution management.
- IoW will shift the paradigm from traditional practices to ICT-integrated practices.
- Smart water grids can significantly reduce capital expenditure (CAPEX) and operational expenditure (OPEX) with expected savings of about 7.4%.
The immediate opportunities for data-enabled smart water grids lie in the need to reduce NRW in emerging APAC countries, while other solutions and opportunities are present for long-term gains for market participants.
The IoT describes a futuristic vision where domestic lives would intersect with technology. The term Internet of Buildings (IoB) refers to building management systems (BMS) on a large scale and reshaping the approach of operations by building owners, operators, and managers to be more efficient and sustainable.
Rapidly evolving building technologies, along with key market participants pushing for technological advancements to gain a competitive edge, are the driving force behind IoB. However, it is highly unlikely that the development of IoB will take place in the short term due to security issues and lack of clarity on roles and responsibilities.
Commercial buildings are highly regarded as being a potential implementation ground for IoB, along with industrial and government buildings, which are highly driven by regulations. The development of IoB among emerging economies is limited due to low awareness and lack of support for building technology implementation from the existing infrastructure.
Trends and Implications
- Technology: The upcoming technologies in the areas of nanomaterials, lasers, and SMART materials will drive multiple applications and will bring in high ROI for companies in 2020. The future of Big Data analytics lies in the convergence of technology with cognitive computing supported by cost-effective data sharing technology and sensory data.
- SMART is the new Green: The technology developments will shift focus from Green to SMART, and these SMART initiatives will comprise the elements of energy, technology, grids, buildings, infrastructure, and more. This trend will positively boost the demand for smart meters and smart material industries, which will facilitate the integration of automation systems.
- Innovating to Zero: Companies will shift focus towards developing products and technologies like zero emission technologies such as wind power, travelling wave reactor (TWR), solar PV, and third-generation bio fuels. Although innovate to zero primarily depends on government and regulatory bodies, with appropriate initiatives the markets for alternative energy technologies and energy storage systems are likely to grow.
- Urbanization: Increasing urbanization will lead to integration of core cities with suburban areas and daughter cities, resulting in the expansion of cities. Growing urbanization in APAC indicates the future requirement for infrastructure built to support a larger urban population.
Commercial buildings remain the largest and most potent building category for BMS installation and application. The increase in green-certified commercial buildings pushes the adoption of BMS to keep track of and maintain use of energy to fit within the green criteria.