Fish finder devices are used to find fish under water by detecting the sonar pulse reflected as sound energy. The fish finder offers built-in functions such as autopilot, radar, GPS, and transducer. Fish finders are available in different sizes, price ranges, and various advance features. In addition, fish finders are user friendly both for beginners as well as for seasoned fishermen. All these features are expected to accelerate the demand for fish finders for recreational fishing and commercial fishing during the forecast period. Other factors such as growing technological advancements and innovative products launched by fish finder companies are expected to lead to strong demand from end-users.
The adoption of Bluetooth, smartphone, and Wi-Fi is growing rapidly, which is expected to drive the fish finder market. Additionally, fish finders are easy to handle, as they are flexible. They are easy to use and operate as well. Other factors such as growing consumption of fish products across the world, as fish food is a valuable source of protein. This expected to drive the overall market during the forecast period. Moreover, rise in standard of living and disposable income is also driving the growth of the fish finder market. However, volatility in raw material prices is expected to impact the global fish finder market. Growth and proliferation of stringent government policies for the safety of marine resources across the world is expected to hamper the growth of the fish finder market during the forecast period.
The global fish finder market can be segmented on the basis of equipment type, product type, application, distribution channel, and geography. Based on equipment type, the market is segmented into fixed and portable. In terms of product type, the fish finder market can be classified into standalone, combination, and networked system. As compared to standalone and combination, the networked system offers built-in functions which includes radar, raster and vector GPS charts, video, and SiriusXM satellite radio. Moreover, many networked system fish finders are easily operate through Bluetooth/Wi-Fi and smartphone. They are mainly used in medium-sized or large vessels. All these features are expected to increase the market attractiveness of the networked system fish finder during the forecast period. Based on application, the fish finder market is classified into recreational fishing and commercial fishing. On the basis of distribution channel, the fish finder market can be segmented into online and offline stores. Growing adoption of smartphones and rise in internet penetration is expected to attract customers toward online shopping. All these factors are expected to increase the market attractiveness of the online distribution channel over the offline distribution channel.
Based on geography, the global fish finder market can be segmented into Europe, North America, Asia Pacific, Middle East & Africa, and South America. North America region is expected to hold major market share followed by Asia Pacific. This is due to rapid growth in the fishing industry which is expected to increase the adoption of fish finders in the region. The market in South America and Middle East & Africa is expected to grow at a slower rate during the forecast period.
Major players operating in the global fish finder market are Deeper, Furuno, Hummingbird, Garmin, Hule, Raymarine, Norcross Marine Products, Lucky Manufacturer Co., Ltd., FLIR Systems, Lowrance, Johnson Outdoors Inc., Garmin Ltd., HawkEye Boating & Fishing Electronics, NAVICO, Japan Marina Co., Ltd., FishFinderGuide.com, FishHunter, and others. As per the current market situation, companies are facing high level of competition among themselves. In order to gain a competitive edge in the industry, market players are focusing on product innovations and new product offerings. This strategy is expected to help them beat the competition during the forecast period.
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