Oceanographic Monitoring System Market Growth, Size, Share, Trends, Key Players Analysis, and Forecast till 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 incorporation of autonomous underwater vehicles and unmanned surface vehicles for collecting oceanographic data is likely to remain a key trend in the market.

Oceanographic Monitoring System Market Analysis

The growing use of oceanographic monitoring systems for monitoring sea levels, rising government investment in ocean monitoring, and increasing occurrence of tsunamis, storm surges, and extreme waves are driving the market. The oceanographic monitoring system market is projected to expand at a significant pace during the forecast period, due to the growing demand for sustainable ocean management. Moreover, the growing deployment of ocean underwater observatories and the growing demand for environmental monitoring are creating lucrative opportunities for the market.

Oceanographic Monitoring System Market Overview

An oceanographic monitoring system is a comprehensive set of instruments, sensors, and technologies for viewing, measuring, and evaluating many aspects of the marine environment. The monitoring system helps detect tsunamis, which are massive waves of abnormally long length triggered by a strong, impulsive undersea disturbance or activity along the coast or in the ocean. The system monitors oceanic events like earthquakes, tsunamis, storms, and floods. The system provides real-time data on wave height, underwater earthquake magnitude, and hurricane speed, among other factors, to aid in the prevention and mitigation of natural catastrophe damage. The oceanographic monitoring system detects abnormalities on the ocean's surface on a regular basis and delivers reports when they differ from normal operations.

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Oceanographic Monitoring System Market: Strategic Insights

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Oceanographic Monitoring System Market Drivers and Opportunities

Growing Use of Oceanographic Monitoring Systems for Monitoring Sea Levels to Favor Market

With the growing concern about the rapid rise in sea levels and the shift of coastlines, various countries are using solutions to monitor the sea level. For example, in December 2022, The US-French launched a satellite named SpaceX rocket from Vandenberg Space Force Base. The satellite is helpful in monitoring oceans as climate change worsens droughts and leads to flooding and coastal erosion. Also, the satellite will measure the height of water on more than 90% of Earth's surface, allowing scientists to track flow and identify potential high-risk areas. Thus, such high concern about rising sea levels in France is expected to create a lucrative opportunity for the growth of the market during the forecast period.

Growing Deployment of Ocean Underwater Observatories

Numerous countries across the globe, including the US, Canada, Japan, and Germany, among others, are involved in various agreements focused deployment of ocean underwater observatories. For example, in January 2024, an agreement between Ocean Networks Canada (ONC) and the Spanish National Research Council (CSIC) allowed the installation of an ONC underwater observatory in Antarctica. The Spanish National Research Council's Marine Technology Unit (UTM) will run the observatory, which will provide near-real-time data on maritime conditions throughout the year. This marks the first time the ONC has expanded its ocean monitoring beyond Canadian boundaries. Such agreements propelled the growth of 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 and application.

• Based on type, the oceanographic monitoring system market is divided into sensors, underwater communication systems, and buoys observation monitoring systems. The underwater communication system segment held a larger market share in 2022.
• In terms of application, the market is divided into onshore and offshore. The onshore segment held a larger market share in 2022.

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 & Central America.

The market in Asia Pacific is projected to expand during the forecast period. The government of Japan signed an agreement with various companies to track oceanographic data such as wind direction and speed to enable safer navigation. In January 2024, NYK announced an agreement with the Japan Coast Guard to share oceanographic data, including wind direction and speed, collected by NYK-operated vessels using Ship Data Center's IoS Open Platform (IoS-OP) services. IoS-OP serves as a collaborative platform for data sharing in the Japanese maritime industry, with an emphasis on boats owned by Japanese shipping companies. The data provided by NYK will assist the Japan Coast Guard in improving the precision of its sea-current forecasts across the country, enabling safer navigation for ships. Thus, the rising number of agreements by the government for tracking oceanographic data propels the growth of the oceanographic monitoring system market.

Oceanographic Monitoring System Market Regional Insights

The regional trends and factors influencing the Oceanographic Monitoring System Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Oceanographic Monitoring System Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Oceanographic Monitoring System Market Report Scope

Oceanographic Monitoring System Market Players Density: Understanding Its Impact on Business Dynamics

The Oceanographic Monitoring System Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Oceanographic Monitoring System Market are:

1. GOST Global
2. Hitachi Zosen Corporation
3. Ocean Scientific International Ltd
4. Sonardyne
5. Seatools B.V.
6. Xylem

Disclaimer: The companies listed above are not ranked in any particular order.

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. A few of the developments in the oceanographic monitoring system market are listed below:

• The Nippon Foundation-GEBCO Seabed 2030 Project and Seabird Technologies announced a new partnership that will see the two parties work together to advance the collective understanding of the ocean and support ocean science solutions to ensure the sustainability of the maritime sector. (Source: Sea-Bird Scientific, Company Website, November 2023).
• A multidisciplinary data buoy platform manufactured by Ocean Scientific International Ltd (OSIL) was installed in Dublin Bay as part of the PREDICT multidisciplinary project. (Source: Ocean Scientific International Ltd, Company Website, October 2023).

Oceanographic Monitoring System Market Report Coverage and Deliverables

The “Oceanographic Monitoring System Market Size and Forecast (2020–2030)” report provides a detailed analysis of the market covering below areas:

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