Sonar Fish Finder Market to Grow at a CAGR of 6.8% from 2019-2029

According to the latest report published by Acute Market Reports “Sonar fish finder market” – Growth, Future Prospects and Competitive Analysis, 2019-2029,” the Sonar fish finder market is expected to expand at a CAGR of 6.8 % from 2021 to 2029.

A device for detecting fish underwater was developed in Nagasaki, Japan in 1948. The Furuno brothers, Kiyotaka and Kiyokata, the owners of a small marine electrical company in a small port of Japan, developed this new technology. The sonar technology is majorly used for fishing in various regions across the globe. The market is driven by the fishing sector as fishing sector is worth of $ 527,052 million worldwide. In the 2021 the per person intake of sea food is accounted as 4.5 kg approximately. The application of sonar technology in ecofriendly way is the key factor for growth. The key application includes wide range of fishing of sea food. The technical advancement & innovation ensure growth in application of market. The sales have boosted in past few decades, as there was growth in demand for sea food. Change in lifestyle, income sources, and change in eating habits plays a vital role in demand for sea food. Fishfinders gives the fisherman the options of viewing the depth, aqua structure, fish hiding locations, speed and also depth temperature.

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The pandemic affected the sales of devices as fishing industry which had a negative impact. Over the pandemic the fish farming played a vital role in ensuring quality and quantity of sea foods. The sales are expected to boost post pandemic period as surplus sea products are available. There is no harm to under water bodies by use of these technologies, this results increase in application of technologies. The wide application of this technology ensures revenue generation across the globe. The GPS, sonar screening & radar systems play important role in fish findings market. The sonar technology is mostly used by the fishermen as it is convenient to use, accurate & is cost efficient. Asia dominates the market as it leads in fishing and is also a major exporter.

The key players in this market include NorCross Marine Products, Inc, Furuno Electric Co., Ltd., Johnson Outdoors Inc., Garmin Ltd. Deeper, Samyung ENC, GME, Humminbird, Navico, FLIR Systems and Deeper. The government policies restrict fishing in various regions to ensure conservation of coral reefs and species.

Key Market Movements:

• Sonar fish finder marketis developing significantly with an expected CAGR of 6.8 % from 2021 – 2029.
• Technological advancement and innovation in sonar fish finderare key growth factors.
• Sonar fish finder is the efficient way of finding areas with huge fishing resources.
• The pandemic led effect negative effect on the market.
• Asia Pacific dominates the market in the regional analysis.
• The market tends to grow as sales increase in significant way along with innovations.
• The key players in this market include NorCross Marine Products, Inc, Furuno Electric Co., Ltd., Johnson Outdoors Inc., Garmin Ltd. Deeper, Samyung ENC, GME, Humminbird, Navico, FLIR Systems and Deeper.
• The key strategies of the companies include research & innovation, improving accuracy, reducing errors and building cost efficient technology.

The sonar fish finder market is segmented into:

ATTRIBUTE	DETAILS
Research Period	2019-2029
Base Year	2020
Forecast Period	2021-2029
Historical Year	2019
Unit	USD Million
Segmentation	Type  Segment (2019-2029; US$ Mn) Portable Fixed
Application area Segment (2019-2029; US$ Mn) Commercial fishing Recreational fishing
Region type Segment (2019-2029; US$ Mn) North America Europe Asia Pacific Latin America Africa
Global Impact of Covid-19 Segment (2020-2021; US$ Mn) Pre Covid-19 situation Post Covid-19 situation

* Detailed segments are available on the report page

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