At 3.0% CAGR, South & Central America Oceanographic Monitoring System Market is Projected to be Worth US$ 114.42 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the South & Central America oceanographic monitoring system market was valued at US$ 90.63 million in 2022 and is expected to reach US$ 114.42 million by 2030, registering a CAGR of 3.0% from 2022 to 2030. Use of remote sensing technologies and satellite imaging and growing demand for environmental monitoring are among the critical factors attributed to drive the South & Central America oceanographic monitoring system market growth. 

There are several uses for remote sensing in the fields of physical, biological, coastal, and satellite oceanography. Remote sensing can be used in oceanographic research to gather data on marine and coastal phenomena, monitor them, and analyze them using airborne and spaceborne sensors. Compared to traditional methods, remote sensing has numerous benefits, including area averaging, repeated observations, and synoptic coverage. Ocean weather and climate analysis, primary productivity measurement, water quality monitoring, potential fishing zone detection, marine life assessment, marine pollution monitoring, near-shore bathymetry and mapping determination, ocean current and wave sensing, human impacts on marine and coastal life, etc., are the main applications of remote sensing technology. Satellites monitor changes in the ocean continuously which help scientists to study the latest trends. Understanding long-term processes such as climate change and the way they affect the oceans depends on the study analysis. Large-scale ocean regions can be imaged by satellites, making it impossible to provide a complete picture of different phenomena such as sea surface temperature, currents, and sea ice extent using conventional ship-based techniques. Thus, the use of remote sensing technologies and satellite imaging set future trends for the growth of the oceanographic monitoring system market.

On the flip side, high initial investment and operational cost hamper the growth of South & Central America oceanographic monitoring system market.

Based on type, the South & Central America oceanographic monitoring system market is categorized into sensors, underwater communication system, and buoys observation monitoring systems. The sensors segment held 36.7% market share in 2022, amassing US$ 33.28 million. It is projected to garner US$ 42.57 million by 2030 to register 3.1% CAGR during 2022-2030.

In terms of application, the South & Central America oceanographic monitoring system market is bifurcated into onshore and offshore. The onshore segment held 74.1% share of South & Central America oceanographic monitoring system market in 2022, amassing US$ 67.19 million. It is anticipated to garner US$ 85.62 million by 2030 to expand at 3.1% CAGR during 2022-2030.

Based on country, the South & Central America oceanographic monitoring system market is categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 62.0% share of South & Central America oceanographic monitoring system market in 2022. It was assessed at US$ 56.18 million in 2022 and is likely to hit US$ 73.11 million by 2030, registering a CAGR of 3.3% during 2022-2030.

Key players operating in the South & Central America oceanographic monitoring system market are Sonardyne, Xylem, Trelleborg Marine and Infrastructure, and MOBILIS, among others.

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