Fish Finders Market Forecast, 2021-2031: Surge in Innovation and Technology Set to Revolutionize Angling Experience

The global fish finders market was valued at $503.8 million in 2021 and is projected to reach $958.4 million by 2031, growing at a CAGR of 6.8% from 2022 to 2031.

The fish finders market share is expected to witness considerable growth, owing to an increase in demand for combined and networked systems across commercial and recreational fishing, which is expected to drive the market growth. Fish finder is largely used in the fishing industry for commercial fishing and recreational fishing purposes. A fish finder helps the user to detect a fish school and provides the user with different underwater information, such as water depth, distribution of fish school, and the condition of the seabed by transmitting ultrasonic waves into the sea and receiving its reflection back to the receiving circuit on the boat. A part of sonic or ultrasonic waves, which have been transmitted, reflect to the source when they hit an object (e.g., fish school or seabed). A fish finder uses this ultrasonic reflection characteristic, and it is called as Sound Navigation Ranging (SONAR). In addition, recent interactive displays show depth, fish school, seabed, and other information in different colors, which allows user to identify the contour structure beneath the boat. The fish finders industry is growing at a rapid pace post-pandemic.

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Furthermore, recent recreational boats, yachts, and commercial boats use network systems, which allow the sailor to have full access to GPS fish finders, deeper fish finder, chart plotter, and C-maps in one single device. This allows users to access all information in one place with different settings options on it, which reduces the use of multiple hardware installations.

Region-wise, the fish finders market trends have been analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for a significant share of the global market in 2021 and is expected to garner significant revenue during the forecast period. This is attributed to the high adoption of technologically advanced fish finders market analysis along with the significant presence of major regulatory bodies, companies, and research institutes in the region.

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Asia-Pacific is the second largest region, in terms of revenue generation in the fish finders market growth, due to higher adoption rate of fish finders ultimately boosting the fish finders market size and fish finders market share. Ongoing demand for critical communications, safety in fishing, and large business enterprises in Europe and LAMEA primarily drives the growth of the Europe and LAMEA fish finders market.

KEY FINDINGS OF THE STUDY

• The combined and standalone segments collectively accounted highest market share in 2021.
• The portable segment was the highest revenue contributor to the market, in 2021.
• The commercial fishing segment was the highest revenue contributor to the market, in 2021.
• North America and Europe collectively accounted for around 63.5% share in 2021.

The key players profiled in the report include Brunswick Corporation, Deeper UAB, Furuno Electric Co. Ltd., Garmin Ltd., GME Pty Ltd, Simrad, Humminbird, Johnson Outdoors Inc., Lowrance, NorCross Marine Products, Inc., Samsung ENC. And Teledyne Technologies Inc. Market players have adopted various strategies such as product launch, collaboration & partnership, joint venture, and acquisition to strengthen their foothold in the fish finders market.

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