Global Water Quality Monitoring Market: Overview
Water quality monitoring makes use of water quality data to identify trends, characterize waters from various waterbodies, address emerging problems, assess the effectiveness of pollution control programs, and help formulate better pollution control policies, apart from responding to emergencies such as draughts and floods. The chemical, physical, microbiological, and biological characteristics of water are measured under water quality monitoring.
By product type, dissolved oxygen analyzers, conductivity sensors, pH meters, turbidity meters, multi-parameter devices, flowmeters, and TOC analyzers can be some of the key segments of the market. Based on end-use applications, industrial, commercial, government, laboratories, agricultural, and residential can be the major segments of the global water quality monitoring market.
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Global Water Quality Monitoring Market: Key Trends
The rising demand for wastewater treatment, increasing incidence of waterborne diseases, and growing awareness about the quality of drinking water are some of the key catalysts of the market. More than 1.8 million people over the world drink faecally contaminated water, found a study conducted by the WHO/UNICEF Joint Monitoring Programme for Water Supply and Sanitation.
Moreover, according to the WHO World Water Day Report, nearly 3.4 million people, mostly children, fall prey to death due to the consumption of unclean drinking water worldwide. Typhoid, hepatitis A, and cholera, caused by bacteria in undrinkable water are some of the most common diarrheal diseases afflicting the third world countries. Therefore, the demand for water quality monitoring systems is likely to go up.
However, ignorance about the benefits of these systems and high costs of the devices used in water quality monitoring might impede the progress of the market. Despite these deterrents, the market is expected to gain from the development of cost-efficient smart water networks that deploy geographic information systems (GIS) and sensors to evaluate water quality.
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Global Water Quality Monitoring Market: Market Potential
Water quality monitoring is being increasingly acknowledged by government bodies of several nations worldwide. For instance, in Thailand a majority of large factories that generate 7,500 cubic meters of wastewater have been put under a real-time monitoring system. The Central government of India has also installed 44 real-time water quality monitoring stations (RTWQMS) in Ganga, the largest river of the Indian subcontinent during March 2017.
Mergers and acquisitions, partnerships, collaborations, and product development are some of the key business strategies adopted by companies. For instance, in March 2017, Ecolab Inc., in partnership with Microsoft Corp. and Trucost, announced the addition of new features to its financial-modeling tool. The advanced tool, Water Risk Monetizer, is designed to aid enterprises in the detection of unwanted elements in water, prediction of water expenses, and conservation of water.
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Global Water Quality Monitoring Market: Regional Outlook
By geography, the Middle East, Africa, Asia Pacific, North America, and Europe are the key segments of the global market for water quality monitoring. Europe has emerged as one of the leading regional markets, driven by high awareness about water quality and the consequent implementation of water quality monitoring activities in Germany, France, the U.K, Portugal, Greece, Denmark, and Switzerland.
Several government initiatives and laws have been promoting the adoption of water quality monitoring systems in North America. Israel in the Middle East, and India, Singapore, Japan, and China in Asia Pacific are likely to represent a significant portion of the market over the forecast period.
Global Water Quality Monitoring Market: Competitive Analysis
Owing to the presence of several large players, the global water quality monitoring market has a highly fragmented vendor landscape. Some of the major companies operating in the global market for water quality monitoring are Thermo Fisher Scientific, Horiba, Ltd., General Electric Company, Shimadzu Corporation, Agilent Technologies, Honeywell International, Inc., Danaher Corporation, Mettler- Toledo International Inc., Stevens Water Monitoring Systems, Xylem, OTT Hydromet, YSI, Hydro International, Hanna Instruments, Sea-Bird Coastal, LaMotte Company, and OAKTON Instruments.