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Underwater/Marine IoT Market Size, Share, and Industry Analysis, By Type (Aquatic Animal Tracking, Marine Environment Monitoring, and Others), By Application (Aquaculture and Fishery) and Regional Forecast, 2024-2032
Report Format: PDF | Published Date: Ongoing | Report ID: FBI110234 | Status : UpcomingThe Underwater Internet of Things (IoUT) is a breakthrough technological development that has changed the way to understand and interact with the world's oceans. This is an innovative research field developed by the Italian company WSense, which integrates artificial intelligence and machine learning to optimize data collection and complex operations for a wide range of applications.
There is a growing demand for real-time data collection and monitoring of the underwater environment to support a variety of applications, such as offshore oil and gas exploration, marine research, and environmental monitoring, driving market growth. Further, the increasing adoption of remotely operated vehicles (ROVs) and autonomous underwater vehicles (AUVs) for underwater monitoring and data collection is driving demand for IoT integration.
OEMs and players in the industry hit very hard. The COVID-19 pandemic had a negative effect on the market by driving changes in macroeconomic conditions, regulatory trends, and technology. Manufacturers witnessed difficulties in predicting the industry's recovery due to uncertainty surrounding the length of shutdowns and supply chain disruptions. The pandemic crisis generally caused structural changes in supply chains and had far-reaching effects on the market.
Impact of Generative AI on the Underwater/Marine IoT Market
The impact of generative AI on underwater IoT is multifaceted, enhancing several aspects of its operation, data analysis, and system optimization as generative AI can develop adaptive algorithms that enable underwater IoT systems to make real-time decisions based on changing conditions. For example, it can adjust the operation of sensors and data collection protocols in response to environmental changes. Additionally, Generative AI can optimize the energy consumption of underwater IoT devices, which is crucial given the limited battery life and the difficulty of recharging or replacing batteries underwater. AI can devise strategies for efficient data transmission and processing, extending the operational lifespan of the devices.
Segmentation
By Type | By Application | By Region |
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Key Insights
The report covers the following key insights:
- Micro Macro Economic Indicators
- Drivers, Restraints, Trends, and Opportunities
- Business Strategies Adopted by the Key Players
- Impact of Generative AI on the Global Underwater/Marine IoT Market
- Consolidated SWOT Analysis of Key Players
Analysis by Type
By type, the underwater/marine IoT market is segmented into aquatic animal tracking, marine environment monitoring, and others.
Aquatic animal tracking held a significant market share in 2023. Tracking the growth of aquatic animals has become increasingly sophisticated with the integration of advanced technologies and methodologies. Several growth factors contribute to the effectiveness and precision of aquatic animal tracking. With the accumulation of vast amounts of tracking data, big data analytics allows for the efficient processing and analysis of these datasets, uncovering patterns and trends in animal movements and behaviors. For instance,
- According to the Worldwide Semiannual Big Data and Analytics Spending Guide, overall, worldwide spending on big data analytics increased by 35% in 2023.
Thus, a vast amount of big data analytics is contributing to the growth of the market.
Regional Analysis
The global Underwater/Marine IoT market is distributed into five regions: North America, South America, Europe, the Middle East & Africa, and Asia Pacific.
North America has the highest market share due to various factors, such as Rising advancements in sensor technology that have enhanced the accuracy, durability, and functionality of underwater IoT devices. These sensors can measure various parameters such as temperature such as temperature, pressure, salinity, and chemical composition. Thus, the above factors contribute to the North American market growth.
Asia Pacific is the fastest-growing market. There is a growing need for continuous monitoring of marine environments to track climate change impacts, pollution levels, and biodiversity. Further, the government is investing in marine research and infrastructure, supporting projects that deploy underwater IoT technologies for environmental monitoring, national security, and disaster response. For instance,
- As per Maritime India Vision, the Indian Maritime Sector contributes 95% of India’s trade by volume and 70% by value.
The distribution of the global Underwater/Marine IoT market by region of origin is as follows:
- North America – 35%
- South America – 6%
- Europe – 26%
- Middle East & Africa – 9%
- Asia Pacific – 24%
Key Players Covered
The key players in this market include Umitron, KDDI, Sofar Ocean, NTT Decomo, W.Sense, Thales, Balena, Alpha Software, Manx Technology Group, Kongsberg Gruppen, Siemens AG, DeepOcean Group, and NEC.
Key Industry Developments
- March 2024: Fujitsu announced details of technology that utilizes LiDAR and AI and autonomous underwater vehicles (AUVs) to collect high-resolution 3D data from living things and natural objects, such as coral reefs and artificial structures, such as wind turbine infrastructure.
- December 2023: WSense is a deep technology company driving innovation in underwater monitoring and communication systems. The company initiated the underwater Internet of Things'' through patented technology, enabling wireless underwater communications.
- Global
- 2023
- 2019-2022