Portland, OR, June 06, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global fish finders market generated $465.21 million in 2020, and is projected to reach $879.10 million by 2030, witnessing a CAGR of 6.7% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Rise in commercial & recreational fishing activities, surge in consumption of fish products globally, and increase in adoption of noise reduction software in fish finder devices drive the growth of the global fish finders market. However, stringent government policies about designated on-shore and off-shore fishing hinder the market growth. On the other hand, integration of GPS technology in fish finder devices and product innovations present new opportunities in the coming years.
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COVID-19 Scenario:
- Due to the implementation of the global lockdown, all the stages of the supply chain and value chain of fish finders were disrupted.
- Consumer behavior regarding purchasing fish finder products was changed, which led to reduction in the revenue for the fish finder market.
- However, the market has already started to recover in 2022.
The report offers detailed segmentation of the global fish finders market based on product type, application, feedstock, and region.
Based on product type, the combined segment contributed to the largest market share in 2020, holding more than one-third of the global fish finders market, and is expected to continue its lead position throughout the forecast period. However, the networked system segment is estimated to witness the largest CAGR of 7.8% from 2021 to 2030.
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Based on application, the commercial fishing segment held the highest market share in terms of revenue in 2020, accounting for nearly one-third of the global fish finders market, and is projected to maintain its leadership status during the forecast period. However, the recreational fishing segment is projected to register the fastest CAGR of 8.3% from 2021 to 2030.
Based on region, North America contributed the highest market share in terms of revenue in 2020, accounting for more than one-third of the global fish finders market, and is expected to maintain its dominance by 2030. However, Asia-Pacific is estimated to manifest the largest CAGR of 9.1% during the forecast period.
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Leading players of the global fish finders market analyzed in the research include Brunswick Corporation, Deeper UAB, Furuno Electric Co. Ltd., Garmin Ltd., GME Holdings AE (GME Pty Ltd), Hule, Inc., Humminbird, Johnson Outdoors Inc., Lowrance, NorCross Marine Products, Inc., Samyung ENC, and Teledyne Technologies Inc.
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