WELLESLEY, Mass, Nov. 06, 2018 (GLOBE NEWSWIRE) -- Increasing incidences of water pollution worldwide and stringent regulations mandating clean water are factors driving growth of the sensors for trace contaminant detection in water market, according to a report by BCC Research.
The industry expects to see a compound annual growth rate (CAGR) of 7.1% through 2022, when it is forecast to reach $2.2 billion, according to the report Sensors for Trace Contaminant Detection in Water: Technologies and Global Markets.
Major players in the market include NanoAffix Science, Hach and Seapoint Sensors.
Research Highlights
- Groundwater and surface water sensors will lead the market by size, with an estimated 2022 value of $591 million, though drinking water sensors will lead the market by growth, with a CAGR through the period of 7.9%.
- North America dominates the market currently; the market was valued at $506 million in 2016. This dominance is aided by stringent regulations pertaining to water quality standards as well as the presence of a majority of key players in the industry.
- The fastest-growing market is the Asia-Pacific region, with a CAGR of 7.6% through 2022. The region’s high growth rate is attributed to investments in water infrastructure coupled with increasing water pollution levels in many Asian countries.
“Advanced sensor networks and sensor nodes leverage the concept of wireless sensor networks for monitoring quality of water in water distribution systems,” said BCC Research analyst and report author Tanmay Joshi. “Sensor data maximizes the likelihood of detecting errors and improves the likelihood of detecting contamination. Trace contamination detection sensors are also being used in smart water management and online water quality monitoring systems.”
Adoption of Smart Water Networks Will Help Drive Future Growth
As water sources become depleted, water utilities are working to employ smart water technologies to improve the management of water resources, and these networks will rely heavily on field sensors to remotely and continuously monitor and diagnose water quality issues, the report adds. Smart water networks will help in leak detection, pressure management, network operation and water quality monitoring, plus they will reduce overall capital expenditures by providing real-time data.
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.