US & Canada, Sept. 16, 2024 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, the increasing occurrence of tsunamis, storm surges, and extreme waves, growing demand for sustainable ocean management and rising government investment in ocean monitoring, drives the market.
The ocean and coastal regions have geographically and temporally variable environmental conditions. Natural disasters are becoming more common due to changing environment and climate. As a result, governments of various countries across the globe are implementing oceanographic monitoring systems to prevent damage caused by natural disasters, which is projected to fuel the global oceanographic monitoring system market during the forecast period.
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The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the oceanographic monitoring system market comprises of types and application which are expected to register strength during the coming years.
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Overview of Report Findings:
- Market Growth: The Oceanographic Monitoring System Market is expected to reach US$ 2.19 billion by 2030 from US$ 1.48 billion in 2022, at a CAGR of 5.0% during the forecast period. Governments of various countries across the globe are involved in ocean-related research, monitoring, and technological development in order to improve knowledge and understanding of the ocean.
- Occurrence of Natural Disasters: There are frequent occurrences of natural phenomena such as tsunamis, storm surges, and extreme waves, which are creating the demand for oceanographic monitoring.
- Sustainable Ocean Management: Numerous member states, including many least-developed countries and small island developing states, are focusing on the development of a sustainable and equitable ocean economy; this includes the adoption of sustainable ocean management.
- Remote Sensing Technologies and Satellite Imaging: Remote sensing can be used in oceanographic research to gather data on marine and coastal phenomena, monitor them, and analyze them using airborne and spaceborne sensors.
- Geographical Insights: North America dominated the oceanographic monitoring system market in 2023. Europe is the second-largest contributor to the global oceanographic monitoring system market, followed by APAC, South America, and Middle East and Africa.
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Market Segmentation:
- By type, the oceanographic monitoring system market is divided into sensors, underwater communication system, and buoys observation monitoring system. In 2023, the underwater communication system segment held the largest share of the global oceanographic monitoring system market.
- In terms of application, the oceanographic monitoring system market is segmented into onshore and offshore. The onshore segment holds the largest share and is expected to register the highest CAGR during 2022–2030. Onshore instrument data is useful for coastal management, environmental protection, and assessing the vulnerabilities of coastal communities.
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Competitive Strategy and Development:
- Key Players: A few major companies operating in the oceanographic monitoring system market include Global Ocean Security Technologies (GOST), Hitachi Zosen Corporation, Hitachi Zosen Corporation, Ocean Scientific International Ltd., Sea6 Energy Pvt. Ltd., Seatools B.V., Sonardyne International Ltd., SonTek, Trelleborg Marine and Infrastructure, Valeport Ltd., Xylem Inc., SERCEL, MOBILIS, AXYS Technologies (AXYS), Smart Buoy Co., Techworks Marine Ltd., and Sea-Bird.
- Trending Topics: Ocean Freight Market, Vessel Monitoring System Market, and Others.
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Global Headlines on Oceanographic Monitoring System Market:
- “NBOSI Launched Integrated CTD Sensor Ahead of Oceanology International 2024. The new integrated CTD Sensor promises to redefine underwater data collection, addressing an increasing demand for smaller, more capable unmanned underwater vehicles (UUVs) in various industries"
- "Valeport unveiled their new Bathy2, a highly innovative development for collecting bathymetric data, at the Oceanology International Exhibition"
- "Trelleborg Marine and Infrastructure completed the remote installation of its latest technology in navigation and piloting, SafePilot Offshore"
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Conclusion:
Oceanographic monitoring systems play an important part in environmental monitoring as they provide critical data on numerous aspects of the ocean's health. Ocean buoys, gliders, and profiling floats continuously monitor temperature and salinity at different depths. Moreover, there is a growing focus on comprehending and reducing the environmental impact of human activity in the ocean. investigate the effects of climate change and evaluate and monitor the health of marine environments. Thus, the growing demand for environmental monitoring is expected to create opportunities for the growth of the oceanographic monitoring system market during the forecast period.
The report from The Insight Partners, therefore, provides several stakeholders—including component providers, system integrator, system manufacturers and others—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.
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