Last month, I looked at how the global water shortage would shape up as the great crisis, one as alarming as climate change. With most of the world running short of water by 2030, it will transform geopolitics and markets forever.
The consultants at McKinsey take another view. They see it as a business opportunity.
According to McKinsey, there are all sorts of opportunities to help oil companies, mines, utilities, beverage companies, technology producers, and others use water more efficiently. Companies already in this space include GE, ABB, Siemens and IBM which provides technologies to measure and track water efficiency efforts and to improve water treatment and irrigation. The big sector to be targeted is agriculture which uses 71% of global freshwater.
According to IBM, water represents a $20 billion business opportunity.
No doubt more will join. Water could well be one of the big growth markets of the future. Watch this space.
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