North America Oceanographic Monitoring System Market Forecast to 2030 - Regional Analysis - by Type (Sensors, Underwater Communication System, and Buoys Observation Monitoring System) and Application (Onshore and Offshore)

North America Oceanographic Monitoring System Market Forecast to 2030 - Regional Analysis - by Type (Sensors, Underwater Communication System, and Buoys Observation Monitoring System) and Application (Onshore and Offshore)

The North America oceanographic monitoring systems market was valued at US$ 581.83 million in 2022 and is expected to reach US$ 851.65 million by 2030; it is estimated to record a CAGR of 4.9% from 2022 to 2030.

Rising Government Investment in Ocean Monitoring Fuels North America Oceanographic Monitoring System Market

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 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.

North America Oceanographic Monitoring System Market Overview

The North America oceanographic monitoring system market is segmented into the US, Canada, and Mexico. Several government agencies across North America are organizing a contest to develop ocean-observing systems. For example, in August 2022, the US Department of Energy (DOE) and the National Oceanic and Atmospheric Administration announced the winners of US$ 0.5 million in the BUILD Contest, the second phase in the Powering the Blue Economy: Ocean Observing Prize. The solutions developed in the Ocean Observing Prize play a major role for the abovementioned agencies by collecting high-quality and complete data on oceans, weather, and atmosphere, thereby helping them protect communities from hurricanes. Such competition is encouraging various companies to develop the oceanographic monitoring system, which propels the growth of the oceanographic monitoring system market.

According to the Partnership for Observation of the Global Ocean (POGO), the Gulf of Mexico (GoM) covers approximately 1.6 million km2 and is surrounded by Mexico, the US, and Cuba. In 2023, the capacity to monitor Mexican waters was expanded through the execution of the CIGOM (Gulf of Mexico Research Consortium) project, which was sponsored by the National Council for Science and Technology (CONACYT) and the Ministry of Energy (SENER) Hydrocarbon Fund in order to build scientific capacity toward oil spill preparedness. Moreover, by 2030, POGO aims to achieve worldwide cooperation for a sustainable, state-of-the-art global ocean observing system that serves the requirements of science and society. In 2023, the Gulf of Mexico Oceanographic and Meteorological Observation Group, funded by POGO, to accomplish goals such as surveying existing monitoring efforts and their permanence through time, evaluate the spatial and temporal scales over which they operate, detect key data gaps and compare current measurements with the Global Ocean Observing System (GOOS) essential ocean variables and essential climate variables, and prioritize monitoring data needs and identify agencies or sectors. Thus, the rising such instances in the region propels the growth of the oceanographic monitoring system market.

North America Oceanographic Monitoring System Market Revenue and Forecast to 2030 (US$ Million)

North America Oceanographic Monitoring System Market Segmentation

The North America oceanographic monitoring systems market is categorized into type, application, and country.

Based on type, the North America oceanographic monitoring system market is categorized into sensors, underwater communication system, and buoys observation monitoring systems. The underwater communication system segment held the largest market share in 2022.

In terms of application, the North America oceanographic monitoring system market is bifurcated into onshore and offshore. The onshore segment held a larger market share in 2022.

By country, the North America oceanographic monitoring system market is segmented into the US, Canada, and Mexico. The US dominated the North America oceanographic monitoring systems market share in 2022.

GOST Global, Sonardyne, Xylem, Trelleborg Marine and Infrastructure, Sercel, MOBILIS, AXYS Technologies Inc, Sea-Bird Scientific, and Neil Brown Ocean Sensors, Inc are some of the leading companies operating in the North America oceanographic monitoring system market.

Reasons to Buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America oceanographic monitoring system market.
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the North America oceanographic monitoring system market, thereby allowing players across the value chain to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth North America market trends and outlook coupled with the factors driving the North America oceanographic monitoring system market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.