Startups, Funding and Disruption In The Wastewater Sector
Today, we’ll conclude our series on data science in the wastewater sector with a look at the market size and some of the startups that are disrupting the sector. The global market for wastewater treatment was $48 billion in 2019 and is expected to grow to $65 billion by 2023, an annualized growth rate of about 6%. This includes both municipal wastewater and wastewater from industrial plants such as oil and gas, paper, chemical manufacturing, food and mining. The market consists of engineering design and construction, operations, maintenance and process control of wastewater infrastructure, including sewer pipes and treatment plants. While wastewater treatment is necessary in all countries, the size of the market by country is typically dependent on the regulations and environmental requirements. Europe and North America have the largest municipal wastewater treatment markets, but demand is rapidly growing in China, India and other developing countries....