Canada Water Quality Monitoring Systems Market Size & Outlook
Canada water quality monitoring systems market, 2017-2030 (US$M)
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Canada water quality monitoring systems market highlights
- The Canada water quality monitoring systems market generated a revenue of USD 300.8 million in 2023 and is expected to reach USD 515.5 million by 2030.
- The Canada market is expected to grow at a CAGR of 8% from 2024 to 2030.
- In terms of segment, sensors was the largest revenue generating type in 2023.
- Data Analysis and Visualization Tools is the most lucrative type segment registering the fastest growth during the forecast period.
Water quality monitoring systems market data book summary
| Market revenue in 2023 | USD 300.8 million |
| Market revenue in 2030 | USD 515.5 million |
| Growth rate | 8% (CAGR from 2023 to 2030) |
| Largest segment | Sensors |
| Fastest growing segment | Data Analysis and Visualization Tools |
| Historical data | 2017 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Sensors, Data Acquisition Systems, Data Analysis and Visualization Tools |
Other key industry trends
- In terms of revenue, Canada accounted for 5.6% of the global water quality monitoring systems market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. water quality monitoring systems market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 515.5 million by 2030.
Sensors was the largest segment with a revenue share of 84.97% in 2023. Horizon Databook has segmented the Canada water quality monitoring systems market based on sensors, data acquisition systems, data analysis and visualization tools covering the revenue growth of each sub-segment from 2017 to 2030.
The water quality monitoring market in Canada has demonstrated steady growth due to the increasing demand for water treatment plants across the country. Canada ranks 4th among the 17 Organization for Economic Cooperation and Development (OECD) countries for water quality, earning an 'A' grade certification.
Furthermore, the Canadian government's initiatives to protect freshwater resources for both residential and commercial sectors are expected to further drive market growth in the coming years. In January 2024, the Canadian government launched the Canada Water Agency and plans to invest USD 650 million over 10 years in the Freshwater Action Plan to restore and protect water quality in major watersheds.
Funding is available for projects under five Freshwater Ecosystem Initiatives, such as Lake Simcoe and the Great Lakes. These efforts aim to improve freshwater quality and ecosystem health, supporting a range of stakeholders, including Indigenous communities, municipalities, and research institutions.
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Water Quality Monitoring Systems Market Scope
Water Quality Monitoring Systems Market Companies
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Canada water quality monitoring systems market size, by type, 2017-2030 (US$M)
Canada Water Quality Monitoring Systems Market Outlook Share, 2023 & 2030 (US$M)
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