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Electricity generation from oceanic wave depends on the wave dynamics and the behavior of the ocean. In this paper, a permanent magnet linear generator (PMLG) has been designed and analyzed for oceanic wave energy conversion. The proposed PMLG design is suitable for the point absorber type wave energy device. A mathematical model of ocean wave is presented to observe the output characteristics and performance of the PMLG with the variation of ocean waves. The generated voltage, current, power, applied force, magnetic flux linkage, and force components of the proposed PMLG have been presented for different sea wave conditions. The commercially available software package ANSYS/ANSOFT has been used to simulate the proposed PMLG by the finite element method. The magnetic flux lines, flux density, and field intensity of the proposed PMLG that greatly varies with time are presented for transient analysis. The simulation result shows the excellent features of the PMLG for constant and variable speeds related to wave conditions. These analyses help to select proper PMLG parameters for better utilization of sea wave to maximize output power.