LONDON, May 15, 2023 (GLOBE NEWSWIRE) -- The Business Research Company’s research on the water testing and analysis market forecasts the market to grow at a CAGR of more than 6%, increasing from $3.7 billion in 2022 to $3.9 billion in 2023. By 2027, the market is expected to reach $4.9 billion, growing at a CAGR of 6%. In 2022, North America held the largest market share in the market.
The increase in the prevalence of waterborne diseases, caused by pathogenic microorganisms such as viruses, protozoa, bacteria, and intestinal parasites, is a significant driver of market growth. The annual incidence of waterborne diseases worldwide is about 4 billion cases, with 1.8 million deaths, and 90% of cases involving children under five years of age.
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The major water testing and analysis companies include ABB Ltd., Agilent Technologies Inc., Danaher Corporation, Emersion Electric Co, General Electric Company, Honeywell International Inc., Horiba Ltd., Shimadzu Corporation, and SGS S.A.
The adoption of solutions-as-a-service (SaaS) platforms is a recent trend in the water testing and analysis industry. SaaS platforms provide online services such as water quality management, EHS compliance, and carbon reporting.
Water testing companies are increasingly using SaaS platforms to enhance their operations. Trimble, a US-based technology company operating in water testing and analysis, launched a new SaaS program in June 2020 for remote monitoring of water testing infrastructure. Water testing utilities can access hardware and software technologies via subscriptions for remote monitoring of critical infrastructure.
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The global water testing and analysis market segmentation is categorized:
1) By Type: TOC Analyzer, PH Meter, Dissolved Oxygen Meter, Conductivity Sensor, Turbidity Meter, Other Types
2) By Test Type: Physicochemical Analysis, Bacteriological Testing
3) By Method: Membrane Filter, Multiple Tube Dilution, Visual Comparison Method, Spectrometric Method, Titration Method, Other Methods
4) By End User: Pharmaceutical, Power, Semiconductor, Food and Beverage, Mining, Refineries, Metals, Chemicals, Environmental, Other End Users
The global market is poised to experience steady growth. Major players, are leveraging the latest technological advances to develop innovative solutions to meet the growing demand for safe drinking water. As the world continues to grapple with water safety challenges, this global water testing and analysis market report provides a comprehensive overview of the market, covering key trends, market size, major players, and growth drivers.
Water Testing and Analysis Global Market Report 2023 by The Business Research Company provides insights on the water testing and analysis market size, water testing and analysis market segments, water testing and analysis market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
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