According to our latest study on "Oceanographic Monitoring System Market Size and Forecast (2020-2030), Global and Regional Share, Trend, and Growth Opportunity Analysis - by Type and Application, and Geography. The oceanographic monitoring system market size was valued at US$ 1.48 billion in 2022 and is expected to reach US$ 2.19 billion by 2030; it is estimated to record a CAGR of 5.0% from 2022 to 2030.

Rising Government Investment to Provide Lucrative Opportunities for Oceanographic Monitoring System Market Growth During Forecast Period

The report includes growth prospects owing to the current market oceanographic monitoring system market trends and their foreseeable impact during the forecast period. Ocean-related issues such as climate change, environmental preservation, and natural resource management can affect more than just coastal areas. 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. Oceanographic monitoring plays a vital role in observing the coasts and oceans in response to protecting wildlife and biodiversity. There has been a rise in government investment in ocean monitoring systems. In April 2021, the UK government funded the world's largest ocean wildlife monitoring system to help conserve life beneath the ocean. The network is being established as part of the UK Government's Blue Belt plan, which encompasses more than 4 million square kilometers of ocean. The camera systems, known as BRUVS, will enable the UK's Overseas Territories to monitor and manage maritime animals in their different habitats.

Moreover, in response to ocean protection for the next generation, the Canadian government is investing in ocean monitoring systems. In February 2023, the Canadian federal government allocated US$ 46.5 million over five years to Ocean Networks Canada, a University of Victoria program, to improve its world-class ocean monitoring system. Joyce Murray, Minister of Fisheries, Oceans, and the Canadian Coast Guard, confirmed the funding announcement during a media briefing at the Fifth International Marine Protected Areas Congress (IMPAC5) in Vancouver. This research, funded by Canada's Oceans Protection Plan, aims to offer open, real-time data to better comprehend the changing oceans. The investment will help Ocean Network Canada's (ONC's) network of deep sea and coastal observatories, which collect data to monitor changes such as climate impacts and underwater noise across all three coasts. Thus, growing government investment in ocean monitoring drives the oceanographic monitoring system market growth.

Key Findings of Oceanographic Monitoring System Market Study:

The oceanographic monitoring system market report emphasizes the key factors driving the market and showcases/exhibits/depicts the developments of prominent players. The oceanographic monitoring system market forecast is estimated on the basis of various secondary and primary research findings such as key company publications, association data, and databases. The oceanographic monitoring system market analysis has been performed by considering the following segments: type, application, and geography.

Based on application, the oceanographic monitoring system market report is segmented into onshore and offshore. The onshore segment held the largest oceanographic monitoring system market share in 2022. In oceanographic instrumentation, onshore applications refer to instruments that are deployed nearshore or along the coast. Such equipment are carefully placed across coastlines and nearshore locations to monitor the ocean's dynamic interactions with land. Onshore instrumentation is crucial for understanding coastal erosion, water quality, and the effects of human activity on nearshore ecosystems. This equipment includes buoys, permanent monitoring stations, and shallow-water sensors. Onshore instrument data is useful for coastal management, environmental protection, and assessing the vulnerabilities of coastal communities. The oceanographic monitoring system is also used for the monitoring of water quality adjacent to onshore installations such as power stations and refineries. Thus, the rise in onshore applications propel the growth of the oceanographic monitoring system market.

The Europe oceanographic monitoring system market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. The Germany held the largest oceanographic monitoring system market share in 2022. The Arctic Regional Ocean Observing System (ROOS), established in 2007, is founded by a collection of 14 member institutes from nine European countries that work actively on ocean observation and modeling systems for the Arctic Ocean and nearby seas. Arctic ROOS encourages, develops, and sustains operational monitoring and forecasting of ocean circulation, water masses, ocean surface conditions, sea ice, and biological/chemical elements.

The APAC oceanographic monitoring system market is segmented into Australia, China, India, Japan, South Korea, and the Rest of APAC. China held major oceanographic monitoring system market share in 2022. The government of Japan signed an agreement with various companies to track oceanographic data such as wind direction as well as 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.


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