Water Quality Monitoring Market

Water Quality Monitoring Market Size, Share, Growth (2023-2028)

Water quality monitoring market is estimated to be worth USD 6.11 billion by 2028, growing at a CAGR of 5.33% from 2023-2028

Water Quality Monitoring Market Overview

Water quality monitoring measures and analyzes various water parameters to determine their suitability for a particular use. This can include monitoring the physical, chemical, and biological characteristics of water in lakes, rivers, oceans, and other bodies of water. Several parameters are commonly measured in water quality monitoring, including pH, temperature, dissolved oxygen, total dissolved solids, turbidity, and various contaminants.

Water Quality Monitoring Market Drivers

Across the world, governments are taking numerous measures around water quality monitoring, one of the key factors propelling the market growth. There are a variety of government initiatives that are aimed at improving water quality and protecting water resources. These initiatives can take many forms, including regulatory programs, financial incentives, and educational campaigns. One example of a government initiative for water quality monitoring is the establishment of water quality standards, which are regulatory limits on the levels of specific contaminants in water. These standards are typically set by government agencies, such as the Environmental Protection Agency (EPA) in the United States, and are used to protect human health and the environment.Increasing funding for water quality monitoring is further expected to boost the market growth during the forecast period. There has been an increase in funding for water quality monitoring in recent years due to growing concerns about the impact of water pollution on human health and the environment. Various factors, including regulatory requirements, public demand for clean water, and the recognition of clean water's economic and social benefits, have driven this increase in funding. Federal, state, and local governments have invested in water quality monitoring through various programs and initiatives.

In addition, technological advancements are anticipated to impact market growth positively. For example, there have been significant technological advancements in water quality monitoring in recent years, which have improved the accuracy, efficiency, and cost-effectiveness of water quality measurement and analysis. These advancements have been driven by various factors, including increasing regulatory requirements, public demand for clean water, and the recognition of clean water's economic and social benefits. One example of technological advancement in water quality monitoring is the development of advanced sensors and instrumentation that can measure a wide range of water quality parameters with high accuracy and precision.

Water Quality Monitoring Market Restraints

High costs associated with water quality monitoring are key factors hampering the market growth. Water quality monitoring systems can be expensive to maintain and install, particularly if they require advanced sensors and instrumentation, specialized software and data management systems, or other specialized equipment. These costs can be a barrier to implementing water quality monitoring programs, particularly for small communities or organizations with limited financial resources. In addition, poor awareness levels regarding water quality monitoring in some of the world's geographies are further expected to limit the market’s growth rate.

 Water Quality Monitoring Market Opportunities

The increasing demand for clean water is expected to generate growth possibilities in the market. The growing global population and urbanization are increasing the demand for clean water, driving the need for water quality monitoring. In addition, the growing adoption of technological advancements is expected to provide growth opportunities. The development of advanced sensors and instrumentation, as well as new analytical techniques, is creating opportunities for companies that can offer innovative and cost-effective water quality monitoring solutions. In addition, the expansion of regulatory requirements, the growing water treatment market, and the recognition of clean water's economic and social benefits are creating opportunities for companies in the water quality monitoring market.

Key developments in the market:

In September 2016, General Electric Company (GE) launched a suite of software solutions called Predix, designed to help water utilities conserve water and overcome the challenges caused by aging water infrastructure. Predix is a software-as-a-service (SaaS) platform that uses data analytics and machine learning to optimize the management of water resources.

Water Quality Monitoring Market Segmentation

By Product

• Ph Meters

• Conductivity sensor

• TOC Analyzer

• Dissolved Oxygen Analyzers

• Turbidity Meter

• Others

Based on the product, the TOC analyzer segment had the most significant global market share in 2021 and is also expected to register the fastest CAGR during the forecast period. Technological developments in the TOC analyzers are key factors propelling the segment’s growth. Total organic carbon (TOC) analyzers are instruments used to measure the concentration of organic carbon in water. Organic carbon measures the total amount of carbon-based compounds in water, including natural and synthetic compounds. TOC analyzers are commonly used in water quality monitoring to assess the presence and concentration of organic contaminants in water, including natural and synthetic chemicals and microorganisms such as bacteria and viruses. Therefore, during analyzer segment is expected to perform well during the forecast period.

By Application

• Industrial

• Laboratory

• Commercial Space

• Government Building

• Others

Based on application, the laboratory segment will dominate the global water quality monitoring market growth during the forecast period. On the other hand, the industrial segment is anticipated to register a healthy CAGR during the forecast period.

Water Quality Monitoring Market Regional Analysis:

• North America

• Europe

• Asia-Pacific

• Latin America

• Middle East and Africa

In 2021, the European region dominated the water quality monitoring market. Several factors are driving the growth of Europe's water quality monitoring market. Due to the growing population and urbanization, one of the main factors is the increasing demand for clean and safe drinking water. In addition, the implementation of stringent regulations and standards for water quality, such as the Water Framework Directive in the European Union, has also contributed to the market's growth. A few prominent players, such as Hach, Xylem, and Thermo Fisher Scientific, dominate Europe's water quality monitoring market. These companies offer a wide range of water quality monitoring products and services, including continuous monitoring systems, portable water quality meters, and water quality testing kits. Overall, Europe's water quality monitoring market is expected to continue to grow in the coming years, driven by increasing demand for clean and safe drinking water and the implementation of stringent regulations.

The North American region is estimated to showcase a healthy CAGR during the forecast period. The water quality monitoring market in North America is a rapidly growing industry driven by increasing concerns about water pollution and the need to ensure the safety and quality of drinking water. Several factors are driving the growth of the water quality monitoring market in North America. Due to the growing population and urbanization, one of the main factors is the increasing demand for clean and safe drinking water. In addition, implementing stringent regulations and standards for water quality, such as the Safe Drinking Water Act in the United States, has also contributed to the market's growth.

COVID-19 impact on the water quality monitoring market

The COVID-19 pandemic has had a negative impact on the water quality monitoring market in several ways. First, the COVID-19 pandemic has led to changes in demand for water quality monitoring products and services. For example, the increased use of hand sanitizers and disinfectants has led to higher levels of some chemicals in wastewater, which has increased the need for water quality monitoring in some areas. Second, the COVID-19 pandemic has disrupted supply chains for water quality monitoring products and services, resulting in delays and shortages in some cases. Third, the COVID-19 pandemic has led to changes in water quality monitoring programs, as governments and organizations have prioritized funding for COVID-19-related initiatives. Fourth, the COVID-19 pandemic has led to changes in how water quality monitoring is conducted. Many organizations have implemented social distancing measures and other precautions to reduce the risk of transmission. However, the market is expected to recover as the pandemic subsides and economic conditions improve and is estimated to register a healthy CAGR during the forecast period.

Water Quality Monitoring Market Key Players

• General Electric Company

• Danaher Corporation

• Agilent Technologies

• Thermo Fisher Scientific, Inc.

• Geotech Environmental Equipment, Inc.

• Optiqua Technologies PTE Ltd.

• Libelium

• Horiba, Ltd.

• Teledyne Technologies Inc.

• Xylem Inc.