GPS Fish Finder Market

GPS fish finders are electronic devices used to locate fish in water bodies. They work by transmitting sonar signals that bounce off objects underwater and return to the device. This technology has revolutionized the fishing industry, making it easier for fishermen to locate fish and increase their catch. The GPS fish finder market has been growing steadily over the years, driven by increasing demand for better fishing equipment, technological advancements, and a rise in fishing as a recreational activity. In this article, we will explore the current market size and market share of the GPS fish finder industry, key players, major trends, drivers, opportunities, and threats, regulatory and legal issues, target demographics, and pricing trends.

Current Market Size and Market Share

The GPS fish finder market is projected to reach ~USD 674.9 million by 2025, growing at a CAGR of +5.7% during the forecast period.

The market is segmented by component (display, transducer, GPS receiver, and others), installation type (portable and fixed), application (recreational fishing and commercial fishing), distribution channel (online and offline), and region. Based on application, the recreational fishing segment is expected to account for the largest market share in 2020 due to the increasing popularity of recreational fishing as a leisure activity.

Key Players in the Industry

• Lowrance
• Garmin
• Humminbird
• Xinuo Information Technology
• ONWA
• Deeper

Market Segmentation:

Segmentation by type

• Single Frequency
• Dual Frequency

Segmentation by application

• Fishing Boat
• Leisure Boat
• Other

Major Trends and Drivers Affecting the Industry

The GPS fish finder market is witnessing several trends and drivers that are driving its growth. One of the major trends is the integration of GPS technology with fish finders, enabling users to locate fish and navigate water bodies simultaneously. Another trend is the growing popularity of wireless and portable fish finders that can be easily carried and used in different locations. In addition, the market is also witnessing a rise in demand for high-resolution displays and 3D imaging technology.

The major driver of the GPS fish finder market is the increasing popularity of fishing as a recreational activity. This has led to a rise in demand for fishing equipment, including fish finders. Additionally, technological advancements and the integration of GPS technology have made fish finders more accurate and efficient, further driving their demand.

Opportunities and Threats in the Industry

The GPS fish finder market offers several opportunities for growth, including expanding distribution channels, developing innovative products, and targeting new customer segments such as the commercial fishing industry. Additionally, the increasing popularity of fishing as a recreational activity in emerging economies presents a significant growth opportunity for the market.

However, the market also faces several threats, including intense competition from existing players, the threat of substitutes such as traditional fishing methods, and the increasing availability of counterfeit products.

Regulatory and Legal Issues Affecting the Industry

The GPS fish finder market is subject to several regulatory and legal issues, including safety and environmental regulations governing the use of fish finders in water bodies. In addition, some countries have restrictions on the use of fish finders for commercial fishing purposes. However, these regulations are expected to remain unchanged in the near future.

Target Demographics and Preferences

The target demographics for the GPS fish finder market include fishermen, both recreational and commercial. Recreational fishermen are typically interested in portable and wireless fish finders that can be used in different locations, while commercial fishermen require more advanced and specialized fish finders for their specific needs. Preferences of the target demographics vary based on factors such as fishing location, species of fish being targeted, and fishing technique.

Pricing Trends-

The pricing trends in the GPS fish finder market vary across different segments. There are different types of GPS fish finders available in the market, including standalone fish finders, chart plotters, and fish finder/chart plotter combos. Standalone fish finders are the most affordable, while fish finder/chart plotter combos are the most expensive.

Standalone Fish Finders

Standalone fish finders are the most basic type of GPS fish finder and are primarily designed to display information about fish and the bottom structure of the water. The price of standalone fish finders typically ranges from $50 to $500, depending on the features and the quality of the device. The entry-level fish finders with basic features such as grayscale display and basic sonar imaging are available at a price range of $50 to $150. Whereas, the mid-range fish finders with additional features such as colored displays and more advanced sonar imaging technology are priced between $150 to $300. The high-end fish finders with advanced features such as GPS and chart plotting capabilities can cost up to $500.

Chart Plotters

Chart plotters are GPS-enabled devices that allow fishermen to navigate and locate fish by displaying maps, waypoints, and routes. They are typically more expensive than standalone fish finders, with prices ranging from $500 to $2,000, depending on the features and the quality of the device. The entry-level chart plotters with basic features such as simple mapping and navigation capabilities are available at a price range of $500 to $1,000. Mid-range chart plotters with additional features such as a larger display and advanced mapping and navigation capabilities can cost between $1,000 to $1,500. The high-end chart plotters with advanced features such as real-time weather data and autopilot capabilities can cost up to $2,000.

Fish Finder/Chart Plotter Combos

Fish finder/chart plotter combos are the most advanced type of GPS fish finder and are designed to provide fishermen with a complete fishing solution. They combine the features of a fish finder and a chart plotter and offer additional features such as networking capabilities and advanced sonar imaging technology. The price of fish finder/chart plotter combos typically ranges from $1,000 to $3,000, depending on the features and the quality of the device. The entry-level fish finder/chart plotter combos with basic features such as simple mapping and sonar imaging technology are available at a price range of $1,000 to $1,500. Mid-range fish finder/chart plotter combos with additional features such as larger displays and networking capabilities can cost between $1,500 to $2,500. The high-end fish finder/chart plotter combos with advanced features such as advanced sonar imaging technology and autopilot capabilities can cost up to $3,000.

Conclusion-

The GPS fish finder market is expected to continue its growth in the coming years, driven by the increasing popularity of recreational fishing and the demand for technological advancements in fishing equipment. Pricing trends in the market vary across different segments, with standalone fish finders being the most affordable and fish finder/chart plotter combos being the most expensive. The pricing of GPS fish finders depends on the features and quality of the device, with mid-range products generally providing the best value for money. As technological advancements continue to improve the accuracy and functionality of GPS fish finders, it is likely that prices will continue to rise, but the market is expected to remain strong due to the increasing demand from fishing enthusiasts and professionals alike