Report : Middle East & Africa 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)
At 2.8% CAGR, Middle East & Africa Oceanographic Monitoring System Market is Projected to be Worth US$ 87.40 Million by 2030, says Business Market Insights
According to Business Market Insights' research, the Middle East & Africa oceanographic monitoring system market was valued at US$ 69.92 million in 2022 and is expected to reach US$ 87.40 million by 2030, registering a CAGR of 2.8% from 2022 to 2030. Incorporation of autonomous underwater vehicles and unmanned surface vehicles for collecting oceanographic data and rising government investment in ocean monitoring are among the critical factors attributed to drive the Middle East & Africa oceanographic monitoring system market growth.
Autonomous Underwater Vehicles (AUVs) are unmanned submersibles integrated with advanced technologies that enable them to cruise the ocean automatically without the need for direct human involvement. These cutting-edge devices are loaded with sensors, cameras, and data collection equipment, offering scientists unprecedented access to the ocean's depths. AUVs' applications include traditional research vessels as well as making maritime exploration more efficient and cost-effective. AUVs lower the risk of diver-related safety hazards during deep-sea research and data collecting by eliminating the necessity for human presence underwater. Moreover, Unmanned Surface Vehicles (USVs) are used for a wide range of applications in sheltered waters, coastal areas, and offshore waters. Technological developments such as AUV and USV have improved the capabilities of oceanographic services, including the efficiency and precision of data collecting. These vehicles, along with complex sensors, can collect high-resolution information on a range of oceanographic characteristics, including wave height, salinity, temperature, and currents. When considering traditional methods such as ship-based sampling, the data collected through these vehicles is considerably more reliable and accurate. Thus, the incorporation of autonomous underwater vehicles (AUVs) and unmanned surface vehicles (USVs) for collecting oceanographic data is expected to fuel the oceanographic monitoring system market growth in the coming years.
On the flip side, high initial investment and operational cost hamper the growth of Middle East & Africa oceanographic monitoring system market.
Based on type, the Middle East & Africa oceanographic monitoring system market is categorized into sensors, underwater communication system, and buoys observation monitoring systems. The underwater communication system segment held 33.2% market share in 2022, amassing US$ 23.24 million. It is projected to garner US$ 30.39 million by 2030 to register 3.4% CAGR during 2022-2030.
In terms of application, the Middle East & Africa oceanographic monitoring system market is bifurcated into onshore, and offshore. The onshore segment held 71.1% share of Middle East & Africa oceanographic monitoring system market in 2022, amassing US$ 49.72 million. It is anticipated to garner US$ 63.34 million by 2030 to expand at 3.1% CAGR during 2022-2030.
Based on country, the Middle East & Africa oceanographic monitoring system market is categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that the UAE captured 37.7% share of Middle East & Africa oceanographic monitoring system market in 2022. It was assessed at US$ 26.36 million in 2022 and is likely to hit US$ 33.66 million by 2030, registering a CAGR of 3.1% during 2022-2030.
Key players operating in the Middle East & Africa oceanographic monitoring system market are Hitachi Zosen Corporation, MOBILIS, SERCEL, Trelleborg Marine and Infrastructure, and Xylem, among others.
- In August 2023, Ocean Scientific International Ltd (OSIL) manufactured and deployed a self-contained 1.2m Tern data buoy platform to collect data for their predictive AI modeling system.
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