Future Market Insights
The sea level is rising at a rapid rate since past few years. Two important factors are responsible for this unfortunate change: first is the melting of glaciers and ice sheets due to global warming. Second is thermal expansion of sea water when it warms. Due to this reason, it has become crucial to measure sea water level from time to time for the safety of the life of people. The Pacific tsunami warning system proved that many people could have been saved in Indian Ocean if timely and proper warnings to those people had been given. One of the important elements of these warning systems is real time sea level data from tide gauges. This is precisely the recent GLOSS (Global Sea Level Observing System) program’s implementation plan encourages coastal countries to upgrade their tide gauge networks.
A tide gauge is an instrument used to estimate changes in sea level with respect to that of datum. It consists of sensors which continuously measure the water level height relative to reference surface height closer to the geoid. The instrument has a pipe at the bottom which allows the entry of water and the electronic sensors record its height and transfer the measured data to the computer. Tide gauge is one of the important tools used to determine changes in mean sea level, extreme conditions and their co-relation with climate change, tidal computation, harbor applications and navigation. They can be also be used as a sea level hazards warning system.
Key Trends, Drivers, Restraints
The development of advanced and efficient technologies and increasing demand for precise and accurate nautical charts are main growth drivers for the global tide gauge market. The data collected from tide gauges is used by scientists for the measurement of global weather patterns, mean sea level water and changes in it. This data from tide gauges is mainly used for the study of global warming. Due to these trends, the global tide gauge market is expected to grow.
In shipping and fishing industries, tide gauges find practical applications. A low or high tide level can act as a deciding factor in determining access to shallow bays and locations with bridges. Though many companies still rely on tide gauges of government agencies (such as NOAA), they have started installing their own tide gauges in ports. This is likely to affect the growth of the tide gauge market positively. Rapidly increasing exploration of new areas for oil and gas reserves is another key factor that drives the global tide gauge market. In developing countries, rise in maritime sector and growing demand for coastal zone, port and harbor management is likely to accelerate the growth of the tide gauge market.
In the tide gauge market, hydrographic charting has maximum demand as it allows safety of navigation and also helps in all other marine applications. Recently, new technologies have evolved in the tide gauge market which allow real time and remote tide information to be posted online to the tide sensors via wireless connections powered by solar energy.
Increasing risk of counterfeit products, strict government laws and regulations are key restraints for the tide gauge market. Also, high investment in research and development and higher costs of tide gauges are some other restraints to the global tide gauge market.
The global tide gauge market can be segmented on the basis of type and application.
On the basis of tide gauge type, the global tide gauge market is segmented into:
On the basis of tide gauge application, the global tide gauge market is segmented into:
Examples of some of the market participants in the global tide gauge market identified across the value chain include:
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