The water quality sensor market share will post an incremental growth of USD 917.28 million, progressing at a CAGR of 5% during the forecast period. The increasing pollution adversely affecting the quality of drinking water will offer immense growth opportunities to market vendors. The water quality sensor market is fragmented, and the vendors are deploying growth strategies such as low-pricing strategies and strengthening the local customer base to compete in the market.
Technavio’s report on “Water Quality Sensor Market by Application and Geography - Forecast and Analysis 2020-2024” provides a detailed analysis of the prevalent market forces, trends, and challenges likely to impact the market in focus.
The water quality sensor market is segmented by application (ground water, drinking water, wastewater, aquaculture, and others) and geography (APAC, North America, Europe, South America, and MEA).
The growth of the water quality sensor market size in the ground water segment has been significant. during the forecast period. 34% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for water quality sensors in APAC.
The increasing pollution adversely affecting the quality of drinking water will directly influence the water quality sensor market. In addition, the technological advances in the development of water quality sensors are the major water quality sensor market trends that will positively impact the market growth. However, factors such as the threat to cybersecurity will hamper the water quality sensor market growth.
The market is fragmented due to the presence of several players. Some of the major water quality sensor market vendors are ABB Ltd., Campbell Scientific Inc., Cole-Parmer Instrument Co. LLC, Danaher Corp., Emerson Electric Co., Endress+Hauser Group Services AG, HORIBA Ltd., Libelium Comunicaciones Distribuidas SL, Siemens AG, and Thermo Fisher Scientific Inc.
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
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Precise market size estimation during the forecast period 2020-2024.
CAGR of the water quality sensor market forecast during 2020-2024.
Market-level data on units, average selling prices, and values of the water quality sensor market share.
Prediction of the upcoming trends, drivers, and factors that challenge the growth of the water quality sensor market.
Water quality sensor industry growth across APAC, North America, Europe, South America, and MEA.