Following a year of unprecedented changes and challenges for water utilities, Bluefield Research recently released a forecast in WaterWorld outlining what we can expect to see in the water industry in 2021. Among the top trends they are watching across municipal water includes new business models that are expanding the customer base for digital water solutions. This includes Software-as-a-Service (SaaS), Data-as-a-Service (DaaS), cloud computing and managed service models that Bluefield Research noted for improving access to digital technologies for small to mid-sized utilities. This trend underscores Aquify’s mission of making digital technologies accessible and affordable to water utilities across the U.S using its unique Exelon-backed, shared-service model.
In their outlook, Bluefield Research, an independent insight firm focused exclusively on water markets, anticipates a 21 percent decline in municipal capital expenditures (CAPEX) over the next five years in the U.S. The decline combined with expected changes in utility operations, reductions in utility staff and an increasing emphasis on maintaining affordable water rates create great opportunities for utilities to embrace these new business models that require no CAPEX investment or additional staffing. By using remote system monitoring, utilities can reduce operating expenditures (OPEX), prioritize and plan for CAPEX projects, improve water quality and reduce economic and environmental waste.
To view more of Bluefield Research’s insights on water industry trends for 2021 including the digital water market, the roles of platform players, engineering consultancies and independent contract operators read the WaterWorld article.