Furthermore, increasing water demand is because of economic development and population growth.Therefore, immediate action should be taken through adopting several solutions to control water and climate in an organized manner. Further, according to the President of International Fund for Agricultural Development (IFAD), the limiting global temperature is a seriously emerging concern that increases to below 2☌ and is achieving the Sustainable Development Goals by the year 2030.As per the latest UN World Water Development Report, climate change affects the availability, quality, and quantity of water needed for basic human requirements, thus, damaging sanitation and safe drinking water for billions of people. The growing population and continuous change in climate worldwide are the major factors leading to water scarcity.Scarcity of Water and Aging Water Infrastructure is Creating a Demand for Smart Leak Detection Solutions LMaaS helps concentrate on the growth and market penetration of the smart solutions like continuous leak monitoring and proactive prevention, whereas, TaaS facilitates service providers to control and strategically expand and improve their technology offerings. Further, utilities' focus on a 'one-stop solution provider' for leak detection in both their wastewater and water networks is boosting solution providers to adopt new business models such as leak (or non-revenue water (NRW)) management-as-a-service (LMaaS) and technology-as-a-service (TaaS).This, in turn, facilitates the water companies to foresee potential overspill events and helps them prioritize decisions about network investment. As water companies focus on monitoring their network more closely, they are significantly seeking to adopt smart leak detection devices and solutions to build a smart model, running simulations of extreme weather events and the effect on their system. Also, the UK water companies have been dedicated to going further, seeking to provide a 50% reduction in leakage by 2050. The UK regulator, Ofwat, is leading the way worldwide through setting water companies a target to lower leakage by nearly 16% by 2025. Throughout this extensive network, Water UK briefs that 2,954 million liters of water, approximately 20-30% of UK water production, are lost every day due to the leakage. According to Water UK, a membership organisation that represents all key statutory water and wastewater service providers, there are over 345,000km of mains water pipes in the UK alone.
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