The value of the global digital water solutions market currently stands at US$33 billion and is expected to grow to US$119 billion by 2028.
WD News: Digital water technology company InfoTiles is enhancing its innovative software technology following investment from Netherlands-based venture capital fund 4impact.
InfoTiles software enables the optimisation of water and wastewater management by water utilities. It can enhance the allocation, reduce leakage, and mitigating the impacts of water-related crises like flooding and scarcity. The digital analytics platform spans the water value chain, simplifying and automating the steps of consolidating data by applying real-time analytics and machine learning.
Water insecurity presents ongoing global challenges that are predicted to intensify with increased water demand and the impact of a changing climate on water cycles. According to the United Nations Water Commission, global demand for fresh water will outstrip supply by 40% by 2030.
“The world is facing a tremendous water crisis that requires immediate attention. We need to ensure a sustainable water future for all through enhancing the use of digital technologies,” said Johnny Alexander Gunneng, chief executive of InfoTiles.
In Europe, 25% of drinking water is lost through leakage, with some countries losing more than 40% of their drinking water before it reaches consumers. A revised EU drinking water directive states now leakage must be assessed and reduced if levels are above a certain threshold.
The company’s digital water solution offers a way to tackle these challenges in a cost-effective manner, enabling utilities to increase data quality by 30-50%, provide 25-40% operational expenditure savings in wastewater treatment, reduce breakdowns by 70% and downtime of infrastructure by 40 percent.
Source & image courtesy: InfoTiles
