Advancing the Ocean Enterprise
Accelerating Innovation, Market Opportunities, Collaboration, and driving Economic Growth
Transforming Ocean Observing into a Key Market Sector
The Ocean Enterprise Initiative is a Marine Technology Society flagship program developed in collaboration with the Global Ocean Observing System (GOOS), NOAA, IOOS, and industry partners. This initiative aims to spearhead innovation, strengthen public-private partnerships, and increase economic development and market opportunities within the Ocean Enterprise.
Powering Innovation, Collaboration, and Economic Growth
The Ocean Enterprise represents a rapidly growing market sector of businesses developing and utilizing ocean-related technologies and services. By fostering public, private, academic, and non-profit collaboration, it strengthens industry, creates jobs, and contributes significantly to the broader economy.
Accelerating Opportunities in the Ocean Marketplace
The Ocean Enterprise Initiative grows the ocean economy by cultivating collaboration, aggregating demand, and rethinking risk – connecting stakeholders, expanding markets, and accelerating investment in the technologies, workforce, and partnerships that power the ocean economy.
Ocean Enterprise Initiative Priority Areas:
Improving the Marketplace
Unlocking the ocean's economic potential through better data and emerging markets.
Cultivating Collaboration
Bridging public-private gaps to drive impact and innovation.
Shaping the Future
Investing in workforce and infrastructure to sustain the ocean economy.
Ocean Enterprise Impact Value
The Ocean Enterprise is a rapidly growing market sector that drives innovation in ocean technologies, data, and services. Over the past decade, successive Ocean Enterprise studies have consistently documented strong growth in the number of companies, jobs, and revenue, demonstrating the sector’s expanding economic impact and long-term market potential. Published on a regular cadence in the United States, UK and Canada, these assessments provide a valuable benchmark for tracking how the market continues to evolve.
Government agencies, nonprofits, industry, and private investors continue to accelerate growth by supporting research, commercialization, and emerging technologies. As demand for ocean information increases, the Ocean Enterprise is creating new opportunities for investment, collaboration, and market expansion across the Blue Economy.
Continued innovation, stronger partnerships, and greater marketplace visibility will be essential to unlocking the sector’s full potential. By connecting stakeholders and advancing market intelligence, the Ocean Enterprise is strengthening its role as a driver of economic growth, technological innovation, and sustainable ocean solutions.
£2 Billion estimated
Annual Ocean Enterprise revenue for the United Kingdom was estimated £2.02 billion.
2024-2025 Review of U.K. Marine Scientific Industry >
$8 Billion estimated
The 2020 Ocean Enterprise Study identified 814 U.S. businesses active in provision of Ocean Enterprise products and services, in 49 states, the District of Columbia, and two overseas U.S. territories. Total employment for these companies was some 325,000 and their Ocean Enterprise revenue was estimated at $8 billion.
IOOS 2020 Ocean Enterprise Study >
c$1.9 Billion estimated
Canada’s Ocean Enterprise is experiencing significant growth. In 2024, estimated revenue is projected to be between $1.8 billion and $2.0 billion, and it employs over 8,000 people.
COVE 2024 White Paper >