Oceanographic Monitoring System Market Growth, Trends - 2030

The oceanographic monitoring system market size is projected to reach US$ 2.19 billion by 2030 from US$ 1.48 billion in 2022. The market is expected to register a CAGR of 5.0% in 2022–2030. The report includes growth prospects in light of current oceanographic monitoring system market trends and driving factors influencing the market growth.

Oceanographic Monitoring System Market Analysis

Human’s ability to properly manage the ocean is essential for addressing climate change, building coastal resilience, providing access to renewable energy sources, and maintaining biodiversity. 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. UNESCO's Intergovernmental Oceanographic Commission, with its diversified portfolio of programs and activities, aims to catalyze and support actions related to all aspects of the ocean research value chain that are required to promote sustainable ocean management. As the coordinator of the UN Decade of Ocean Science for Sustainable Development, the IOC/UNESCO began in 2021 and offers a worldwide framework to establish the conditions for sustainable ocean management. For instance, in December 2021, the United Nations Environmental Programme (UNEP) launched a sustainable ocean plan guide and a new action coalition. A sustainable ocean plan seeks to assist public and private sector decision-makers regarding the sustainable management of an ocean under national authority in order to enhance long-term economic and social development while maintaining the natural marine ecosystems. The emphasis on sustainable ocean management practices is growing, which boosts the demand for oceanographic data. This information is critical for monitoring the health of marine ecosystems, managing fisheries, and preserving sensitive habitats. Thus, the rising demand for sustainable ocean management contributes to the growing oceanographic monitoring system market size.

Oceanographic Monitoring System Market Overview

An oceanographic monitoring system is a comprehensive set of tools, sensors, and technologies for observing, measuring, and analyzing different elements of the ocean environment. The system monitors oceanic activities such as earthquakes, tsunamis, hurricanes, and floods. The system delivers real-time data on wave height, magnitude of underwater earthquakes, and hurricane speed, among other parameters, to help avoid and mitigate the damage caused by these natural disasters. The oceanographic monitoring system aids in the detection of tsunamis, which are huge waves of unusually long length caused by a violent, impulsive undersea disturbance or activity near the coastline or in the ocean. The oceanographic monitoring system regularly detects disturbances on the ocean's surface and sends reports when there is a disparity between usual operations. These systems are critical to scientific research, environmental monitoring, climatic studies, and resource management.

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Oceanographic Monitoring System Market: Strategic Insights

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Oceanographic Monitoring System Market Drivers and Opportunities

Expansion of Maritime Activities to Favor Market

The aquaculture and maritime transportation sectors need real-time data on oceanographic factors for safety, efficiency, and resource management. Oceanographic monitoring systems help understand the ecology of fish production zones better in real time. With this, fish farming becomes more predictable to regulate daily activities when control-engineering principles are used for fish production, boosting the farmer's ability to monitor, control, and document biological processes in fish farms. In addition, accurate and up-to-date oceanographic information is crucial for safe navigation, port operations, and risk management with the expansion of global marine transportation. Oceanographic services offer valuable data for these objectives. For example, ocean currents data assists ships in determining the most fuel-efficient routes, avoiding strong currents and taking advantage of favorable ones. Understanding water circulation or ocean currents and sediment movement within ports aids in the design and management of shipping channels and docking facilities. Water depth information collected by systems can help authorities traverse shallow waters and locations prone to underwater hazards, lowering the chance of grounding. Accurate forecasts of storms, wind patterns, and sea state enable ships to avoid hazardous situations and plan itineraries accordingly. Further, real-time data allows ships to enter and exit ports safely while streamlining loading and unloading operations. Also, oceanographic systems can monitor changes in coastlines and detect erosion-prone locations. Thus, the expanding maritime activities are anticipated to create lucrative opportunities for the oceanographic monitoring system market growth during the forecast period.

Increasing Demand for Oceanographic Sensors

Oceanographic sensors are used for a variety of purposes, including climate change research and ocean condition monitoring during navigation, fishery management, and offshore oil and gas exploitation. Oceanographic sensors are used to monitor ocean conditions in order to ensure shipping vessel safety. These sensors can provide data on wave heights, water temperature, and currents, allowing ships to sail safely across the ocean. Oceanographic sensors are also employed to monitor fisheries, providing data on the distribution and number of fish in specific areas. This information is critical for sustainably regulating fish populations. Oceanographic sensors are used to monitor offshore oil & gas development by collecting data on ocean variables such as temperature and currents, which can have an impact on offshore drilling safety. Thus, the rising number of applications of sensors propels the growth of the sensor segment in the oceanographic monitoring system market.

Oceanographic Monitoring System Market Report Segmentation Analysis

Key segments that contributed to the derivation of the oceanographic monitoring system market analysis are type, cause, disorder type, category, and end user.

• By type, the oceanographic monitoring system market is segmented into sensors, underwater communication system, and buoys observation monitoring system. The sensor segment accounted for the significant oceanographic monitoring system market share in 2022.
• Various types of sensors are available in the market for monitoring oceanographic parameters (physical, chemical, and biological). The appropriate sensor is determined by the user's requirements as well as the features of the area in which they will be deployed. These requirements include the measurement range for the parameter, the location of the sensor, sensitivity, linearity, accuracy, precision, resolution, measurement rate, power consumption, and deployment time.
• Based on application, the market is bifurcated into onshore and offshore.

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Oceanographic Monitoring System Market Share Analysis by Geography

The geographic scope of the oceanographic monitoring system market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.

• China dominates the oceanographic monitoring system market share in Asia Pacific. These countries have established several stations that collect data on oceanographic phenomena. For example, the Australian National Moorings Network (ANMN) consists of a number of National Reference Stations and regional mooring arrays. These oceanographic moorings collect data on currents, temperature, salinity, and other water quality characteristics at various depths. Australia Institute of Marine Science (AIMS) manages moorings on the Great Barrier Reef and across northern Australia.
• Further, AIMS manages and maintains two of Australia's seven National Reference Stations. The Q-IMOS Great Barrier Reef National Reference Station—situated near the wreck of the SS Yongala— and the IMOS Darwin National Reference Station collect long-term baseline data on ocean conditions that include currents, waves, weather, temperature, salinity, plankton, and water quality/biogeochemistry.

Oceanographic Monitoring System Market Report Scope

Oceanographic Monitoring System Market News and Recent Developments

The oceanographic monitoring system market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:

• In 2023, GOST announced it had packaged its most popular products into a new, easy-to-install, insurance-compliant offering: the GOST GNT-Evolution IDP Hardwired Security Package. This bundle provides marine electronic installers, boatbuilders, and customers with everything needed for an accessible yet robust tracking and monitoring system. (Source: GOST, Press Release)

Oceanographic Monitoring System Market Report Coverage and Deliverables

The “Oceanographic Monitoring System Market Size and Forecast (2022–2030)” report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles