Global Water Quality Monitoring
Market is set to be valued at over $9.6 billion by 2032
Inkwood Research anticipates the Global Water Quality Monitoring Market to accelerate with a 5.91% CAGR by the end of the forecast years 2023-2032.
The prevalence of water contamination worldwide has necessitated the development of sensors for detecting trace contaminants. According to the National Institute of Environmental Health Sciences (NIEHS), water contamination is instigated by chemicals or other foreign substances such as sewage and food processing waste, pesticides and fertilizers from agricultural runoff, heavy metals, chemical contamination from hazardous waste sites, and industrial chemical discharges. Such sensors can detect harmful traces such as carbonic compounds, chemicals such as pesticides and insecticides, biological contaminants, and metals such as manganese, iron, cobalt, etc.
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Water Quality Regulations Drive Global Market Growth
Numerous countries have implemented strict rules and regulations to safeguard water bodies. Hence, the Increasing government initiatives for environmental monitoring are fueling the demand for sensors to trace contamination in water bodies. Further, the rising levels of water pollution and increased water consumption have accelerated legislation for water quality monitoring. Some frameworks include Water Framework Directive, Bathing Water Directive, and Urban Waste Water Treatment Directive.
Residential set to lead the Application Segment
In recent years, the demand for clean water has risen due to rising urbanization and the availability of limited clean water supplies. Several factors, like pH, dissolved oxygen, and turbidity, must be checked to safeguard water quality. Small-to-medium-sized firms have created new sensors, such as water quality data recorders, durable water quality monitoring system sensors, and water temperature sensors, to answer the requirement for water quality monitoring in residential areas.
Leading Region – Asia-Pacific
Asia-Pacific is expected to have the fastest market growth rates due to improving economies and increasing population. Further, an increasing consumer base with a growing geriatric population is also a major driver for market expansion. Moreover, technological advancements and increased government spending on healthcare infrastructure upgrades are also producing lucrative opportunities for the market.
Additionally, the strategic initiatives by the companies to overcome the challenges like low supplydemand gap and moderate exit barriers are increasing the rivalry among the key players. Moreover, the rapid urbanization and inclusion of new water technologies further boost the competition in the market.
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