The disruptive water-related events of 2022 that included extreme and extended draught in the United States and Europe as well as extreme floods in South Asia have added a new dimension of water security in addition to access, efficiency, and resilience. Frost & Sullivan estimates the global water market stands at about $800 billion as it undergoes a transformation, with investments of about $20 billion focused on smart water solutions and services. These investments are shaped around the 6Ps – Policies, Products, Processes, People, Partnerships, and Platforms.

Frost & Sullivan’s Water Program identifies opportunities emerging from the circular economy of water across the key customer segments of municipal, industrial, institutional, commercial, and residential. The program tracks and analyses growth opportunities for key technologies and services covering water abstraction, treatment, and distribution; wastewater collection and treatment; as well as water reuse and recycling markets.

In this 2023 deliverable, Frost & Sullivan identifies the top 10 growth opportunities for the water industry: Net Zero Water Utilities, Smart Water Quality and Quantity Monitoring Platforms, Digital Twins for Water Utilities, Smart Wastewater and Stormwater Networks, Advanced Membranes and Membrane Bioreactors, PFAS Water Treatment Solutions and Services, Privatization of Water Utility Services, Circular Economy for Water, Decentralized Water and Wastewater Treatment Systems, and Anaerobic Digestion and Renewable Desalination.