At 5.9% CAGR, Asia Pacific Oceanographic Monitoring System Market is Projected to be worth US$  507.96 million by 2030, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific oceanographic monitoring system market was valued at US$ 321.21 million in 2022 and is expected to reach US$ 507.96 million by 2030, registering a CAGR of 5.9% from 2022 to 2030. Increasing occurrence of tsunamis, storm surges, & extreme waves and rising government investment in ocean monitoring are among the critical factors attributed to drive the Asia Pacific oceanographic monitoring system market growth.

Weather forecasting relies heavily on data gathered from ocean observations. It provides early warning of threats such as tsunamis, storm surges, and high waves, which helps save lives and allows marine operators to remain efficient. There are frequent occurrences of natural phenomena such as tsunamis, storm surges, and extreme waves, which are creating the demand for oceanographic monitoring. For example, according to National Geographic, the majority of tsunamis, i.e., ~80%, occur along the Pacific Ocean's "Ring of Fire," a geologically active area where tectonic movements cause volcanoes and earthquakes.  The Hohai University in China led the first global trend study that examined long-term variations in the height and surface area coverage of ocean surface waves from tropical cyclones worldwide since 1979. . The increasing occurrence of tsunamis and high rogue waves can cause huge damage, loss of life, and mass injuries. Thus, the increasing occurrence of hazards such as tsunamis, storm surges, and extreme waves drives the oceanographic monitoring system market.

On the flip side, high initial investment and operational cost hampers the growth of Asia Pacific Oceanographic Monitoring System Market.

Based on type, the Asia Pacific Oceanographic Monitoring System Market is categorized into sensors, underwater communication system, and buoys observation monitoring systems. The sensors segment held 38.4% market share in 2022, amassing US$ 123.36 million. It is projected to garner US$  201.89 million by 2030 to register 6.4% CAGR during 2022–2030.

In terms of application, the Asia Pacific Oceanographic Monitoring System Market is bifurcated into onshore, and offshore. The onshore segment held 68.1% share of Asia Pacific Oceanographic Monitoring System Market in 2022, amassing US$ 218.85 million. It is anticipated to garner US$ 352.39 million by 2030 to expand at 6.1% CAGR during 2022–2030.

Based on country, the Asia Pacific Oceanographic Monitoring System Market is categorized into Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific . Our regional analysis states that China captured 33.0% share of Asia Pacific Oceanographic Monitoring System Market in 2022. It was assessed at US$  105.89 million in 2022 and is likely to hit US$ 183.97 million by 2030, registering a CAGR of 7.1% during 2022–2030.

Key players operating in the Asia Pacific Oceanographic Monitoring System Market are GOST Global, Hitachi Zosen Corporation, Sonardyne, Xylem, Trelleborg Marine and Infrastructure, Sercel, MOBILIS, Smart Buoy Co, among others.

• In July 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.
• In September 2023, GOST announced a partnership with Boat Fix, a recreational boating telematics company that provides monitoring uniquely backed by 24/7 live alarm and customer support. Making accessible next-level monitoring, alarm management, and vessel recovery, GOST will be offering existing and future customers the GOST 24/7 alarm and customer support service, powered by boat fix.

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