Canvas art can be very durable and last for years if it is printed on archival-quality canvas with archival-quality ink. Lesser inks and canvas may fade over time. Even archival-quality canvas should be kept out of direct sunlight, including walls directly opposite large windows.
Most canvas art can be damaged by moisture or heavy objects. Because of this, it's not a good choice for bathrooms or young children's bedrooms. Even one thrown object can put a small hole or dent in canvas art.