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The Asia Pacific vessel monitoring system market size is expected to grow at a CAGR of 10.7% during the forecast period of 2024-2032. The market is being driven by growing maritime trade, increasing vessel traffic on water routes, and rising demand for long range tracking and identification.
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A vessel monitoring system (VMS) is a satellite-based monitoring system that provides information about the location, speed, and path of vessels to end users such as fishing vessel operators and cargo vessel operators. Fisheries management extensively use VMS, in addition to passenger ships, ferries, and service vessels. Additionally, the vessel monitoring systems enable enforcement agencies to concentrate their efforts in areas where there is a greater likelihood of violations.
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By vessel type, the market is segmented into fishing vessel, cargo vessel, service vessel, and passenger ships and ferries, among others. Based on application, the Asia Pacific vessel monitoring system market is divided into fisheries management and surveillance, among others. The major countries for vessel monitoring systems in the Asia Pacific are China, Japan, India, ASEAN, and Australia, among others.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model, along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Asia Pacific vessel monitoring system market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
Cargo vessels account for a sizable share of the Asia Pacific vessel monitoring system market due to the growing production and manufacturing capabilities in the region and increasing globalisation of trade. Typically, cargo ships are larger in size and are often equipped with cranes and other mechanisms for loading and unloading products being shipped. With increase in movement of cargo vessels in the Asia Pacific region, there is greater emphasis on adequate tracking and monitoring to prevent mishaps on the water, which is increasing the demand for the Asia Pacific vessel monitoring system market. Meanwhile, fishing vessels are also expected to witness steady growth in the coming years, due to the growing fisheries industry as well as rising demand for seafood.
Surveillance is account for a significant share of the Asia Pacific vessel monitoring system market due to the growing traffic on local sea routes increasing the need for safety on water. The precise geographic position of a vessel is shown by the VMS using global positioning systems (GPS), and the ability of inspectors to access VMS data in real-time allows them to pinpoint the precise location of vessels, enabling onboard inspections as needed. The process of tracking a vessel is made simple and quick by the use of VMS, and it helps to stop illegal actions at sea. Southeast Asian nations like Thailand and South Korea have been employing VMS technology to track their ships to make sure that fishermen are carrying marine products legally.
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The Highlander Company, founded in 2002 and based in Beijing, China, creates and offers electronic surveillance systems, both small scale and large scale, to aid various end users in keeping track of valuable assets. The company caters to maritime port authorities, private port operators, coastguards, aqua farmers, offshore oil and gas exploration and production companies, and wind farm operators, among others.
Addvalue Technologies Ltd., established in 1996 and headquartered in Bedok, Singapore is a leading provider of satellite-based communication systems. Modern communication terminals offered by Addvalue are available for usage in space, air, sea, and land. Additionally, the company provides its clients with significant engineering and integration services to aid in seamless incorporation of its products with client systems.
Applied Satellite Technologies Ltd, established in 1992 and headquartered in Norfolk in the United Kingdom is one of the leading satellite communication providers. An independent company focussed on providing practical services at an international, Applied Satellite Technologies helps its clients improve operational performance, resilience, cost efficiency, and crew safety. Its solutions are available for maritime and land, along with services for consultancy, installation, and repairs and servicing, among others.
Other market players include GMT COMPANY, INC. and CLS Group, among others.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Vessel Type |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market is projected to grow at a CAGR of 10.7% between 2024 and 2032.
The major drivers of the market include the increasing maritime trade, growing vessel traffic on water routes, growing concern about vessel security and safety, and rising demand for long range tracking and identification.
integration of advanced technologies such as AI and ML in advanced vessel monitoring systems, demand for safe navigation in international waters, and rising need for tracking due to unauthorised activities are the key trends propelling the growth of the market.
The major countries for vessel monitoring systems in the Asia Pacific are China, Japan, India, ASEAN, and Australia, among others.
The various vessel types in the market are fishing vessel, cargo vessel, service vessel, and passenger ships and ferries, among others.
The major applications of vessel monitoring systems in the market are fisheries management, and surveillance, among others.
Automatic identification systems (AIS) were developed as a collision avoidance tool and are required by international law for ships over a certain size and by national legislation for some smaller ships. Meanwhile, a vessel monitoring system (VMS) is a customised system for monitoring vessels for surveillance and fisheries management purposes.
Vessel tracking results in safer routes when a ship can avoid initially unexpected weather conditions and other vessels along its journey.
Vessel monitoring systems operate by making use of on-board transceiver units and GPS for satellite-based communications.
The major players in the Asia Pacific vessel monitoring system market, according to the report, are The Highlander Company, Addvalue Technologies Ltd, Applied Satellite Technology Ltd, GMT COMPANY, INC., and CLS Group, among others.
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