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European Vessel Monitoring System Market to Grow at a CAGR of 11.9% During the Period 2022-2027, Driven by Need for Greater Monitoring of Vessels

According to a new report by EMR titled, ‘European Vessel Monitoring System Market Report and Forecast 2022-2027’, the European Vessel Monitoring System market is expected to grow at a CAGR of 11.9% during the period 2022-2027, led by innovative solutions.

With a growing role of satellite-based vessel monitoring systems (VMS) in fisheries management owing to their ability to track the location and monitor the activities of fishing vessels around the world, novel technologies are enabling these systems to be fully integrated into fisheries management plans. In this day and age, vessel monitoring systems have become a critical tool in the fight against illegal, unreported, and unregulated (IUU) fishing, which explains nearly over US$22 billion worth of seafood every year. These systems offer greater levels of monitoring, control, and surveillance (MCS) than are possible with more conventional aerial and surface technologies. Systems with such capabilities are expected to drive the European Vessel Monitoring System market.

For fisheries managers, these systems offer a high degree of detailed and verifiable information. When vessel monitoring systems are installed permanently on a fishing vessel, each unit carries a unique identifier that may be used in conjunction with GPS to estimate a vessel’s position and convey the data to authorities at routine intervals. It is obligatory for all EU vessels over 12m, with the information shared between EU nations. The EU also uses satellite-based technology to help locate and identify fishing vessels at sea. Such technologies complement the use of non-satellite based technologies for geopositioning (for example, mobile phone apps), and the deployment of control assets such as patrol vessels, surveillance aircraft and drones to identify possible illegal activities. Such increasing importance of vessel monitoring systems is expected to drive the European Vessel Monitoring System market.

Modern solutions lead the way in terms of VMS fishery monitoring systems through intelligent application of sophisticated technologies that empower customers with the tools and functionality required on a daily basis, with complete ownership and control of data locally. The ability of modern systems to continually track and monitor tens of thousands of vessels simultaneously across extended port, coastal and ocean EEZ’s and automatically identify, alert and track IUU fishing offers key advantages to users.

Key Findings of the Report:

  • The European Vessel Monitoring System market is expected to be driven by the need to monitor and regulate vessel activity, such as illegal, unreported, and unregulated (IUU) fishing.
  • Advanced solutions are expected to drive market growth.

Market Analysis by Vessel Type, Application and Country:

  • By vessel type, the market is segmented into Fishing Vessel, Cargo Vessel, Service Vessel, Passenger Ships and Ferries, and Others.
  • By application, the market is divided into Fisheries Management, Surveillance, and Others.
  • By country, the market is classified into United Kingdom, Germany, France, Italy, and Others.

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