Marine Buoys Market Scope
Marine buoys are a globally standard sea mark system that is used in navigation to identify the edges of channels. These water road signs are made up of five different sorts of buoys: cardinal, lateral, isolated hazard, unique, and safe water markers. These buoys and markers show where to find safe water and where to navigate securely inside a channel. Always use a local chart to determine the location of potential risks. Finding and navigating a tight route amid a wide expanse of water has always been difficult for seafarers. Marine buoys, for example, let sailors assess their location in relation to land and lead them safely past newly found hazards or concealed risks to navigable waterways, while also helping to protect the environment, improve safety, and promote trade. These factors are boosting demand and will contribute to the growth of the marine buoys market.
The Marine Buoys market study is segmented by Type (Cardinal, Lateral, Isolated Danger and Special And Safe Water Marks), by Application (Marine Scientific Research, Port Construction, Offshore Oil and Gas Exploration and Others) and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
James Fisher and Sons plc (United Kingdom), Marine Instruments S.A. (Spain), Wealth Marine Pte Ltd (Singapore), JFC Marine Ltd. (Ireland), Walsh Marine Products (United States), AXYS Technologies Inc. (Canada), Ocean Scientific International Ltd (OSIL) (United Kingdom), A-Laiturit (Finland), Pharos Marine Automatic Power (United States) and Mediterraneo Señales Maritimas S.L (Spain) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Zeni Lite Buoy Co., Ltd (Japan), Floatex Srl (Italy), Fugro N.V. (Netherlands), Fendercare Marine Solutions Limited (United Kingdom), Sealite Pty Ltd (Australia) and Plastech Industrial Co (Taiwan).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
AMA Research has segmented the market of Global Marine Buoys market by Type, Application and Region.
On the basis of geography, the market of Marine Buoys has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On 30th March, 2019 – Sofar Ocean Technologies (New Sensor Based Underwater Drone Manufacturer), Entered into Merger Agreement with OpenROV and Spoondrift Companies. These New Gadgets Can Capture Video, Measure Waves and Weather, Assess Boats and Infrastructure for Damage, Monitor Aquaculture Sites. and On 28th March, 2019 - Resideo Acquired Buoy Labs, Adding Innovative Water Usage and Leak Prevention to its Smart Home Portfolio. The Acquired Business Creates a Revolutionary Wi-Fi Enabled System That Measures the Amount of Water Used in A Household, Integrating Smart Software and Hardware.
On 19th March, 2021 - KLabs Inc. launched Seawater Battery-based Multi-Purpose Smart Buoys for Marine Environment Monitoring. The New Smart Buoys Can Track and Gather More Than 15 Different Types of Marine Data, Including Salinity, Ph, And Water Temperature, As Well As the Position and Range of Fishing Areas.
Market Trend
- Emergence of Composite & Accurate Marine Buoys
Market Drivers
- Rising Usage of Marine Buoys in Data Gathering & Monitoring Purposes
- Demand for Weather Data for Analytical and Forecast Proposes
- Growing Popularity of Water Sports and Recreational Activities
Opportunities
- Increasing Adoption of Marine Buoy Systems by Fishermen
Restraints
- Accuracy Concerns
- Technological Limitations
Challenges
- High Initial Investment
- Lack of Awareness
Key Target Audience
Marine Buoys Manufactures, New Entrants and Investors, Marine Buoys Distributors and Suppliers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others