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The Europe vessel monitoring system market is expected to grow at a CAGR of 11.9% between 2024 and 2032. The market is being driven by the increasing maritime activities in the region supported by a vast coastline and the rising need to prevent accidents and criminal activities on water.
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A vessel monitoring system refers to a system which is developed to provide information about the accurate geographic position of a vessel. This system is designed to carry out fast and efficient tracking of a vessel in order to impede the chances of any criminal or illegal activities in the waters and reduce risks of accidents and collisions. The real-time insights provided by this system improve the safety and security of an oceanic territory.
Based on vessel type, the market is segmented into fishing vessel, cargo vessel, service vessel, and passenger ships and ferries, among others. On the basis of application, the market is classified into fisheries management, and surveillance, among others. Country wise, the market is divided into the United Kingdom, Germany, France, and Italy, 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 key players in the Europe vessel monitoring system market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
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Passenger ships and ferries, based on vessel type, accounts for a healthy share of the Europe vessel monitoring system market due to the thriving cruise ship and ferries sector across well-established economies of this region. Extensive waterways in the region are leading to widespread usage and demand for passenger ships and ferries, further supported by the robust tourism industry in Europe and sizable influx of tourists.
Strengthening supply chain of hydrogen and batteries is expected to increase the deployment of passenger vessels in the forecast period, leading to a greater growth of this segment. To improve the safety of passengers, vessel monitoring systems are increasingly used, thereby, heightening the growth of this segment. Furthermore, the growing innovations and increasing efforts by the market players to modernise the ferry-related operations across the busiest sea routes of Europe, are expected to add to the growth of the overall market in the coming years.
Based on application, fisheries management accounts for a significant share in the Europe vessel monitoring system market, due to the heightened deployment of fishing vessels across water routes in the region. Widespread consumption of seafood throughout Europe and increasing demand for seafood due to the rising awareness regarding its health benefits is surging the number of fishing vessels in Europe, heightening the importance of fisheries management.
In addition, vessel monitoring systems are beneficial for small scale operators as they enable recording of fish species, quantities, size, and catch locations. Furthermore, the increasing incorporation of small scale fishing vessels in European fleets is aiding the market growth. The rising adoption of satellite-based technologies to carry out location and identification of fishing vessels, to ensure security during fishing activities, is further fuelling the growth of this segment and the overall Europe vessel monitoring system market.
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EMA d.o.o. is a leading electric company which develops technologies related to telematics and various solutions developed for environment sustainability. The company offers various services which cater to the demands of sectors such as government, maritime, aviation, energy, research, and industrial. EMA was established in 1991 and is headquartered in Celje, Slovenia.
CLS Group is a global leading market player in sustainable fisheries management which provides high-quality data, expertise, software, hardware, and value-added services. The product portfolio of this company includes vessel monitoring systems, electronic catch reporting, and fisheries intelligence services, among others. It was founded in 1986 and is currently headquartered in Toulouse, France.
Trackwell is a prominent software developing company which has a vast product portfolio including vessel monitoring systems, electronic reporting systems, electronic logbooks, and FLUX engines, among others. Some of the notable services of Trackwell include software with user friendly interface, and various tracking devices. Trackwell was established in 1996 and is based out of Gullbringusysla in Iceland.
Other market players include Visma, Pole Star Space Applications, and SRT Marine Systems plc, 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 estimated to grow at a CAGR of 11.9% between 2024 and 2032.
The increasing incorporation of small scale fishing vessels in Europe, rapid transition from tradition to satellite technology for maritime surveillance, and rising cases of terrorism and criminal activities in sea are the major drivers of the market.
The key trends in the market include the favourable policies of the governments in the region to increase maritime security and integration of vessel monitoring systems with mobile applications.
Fishing vessel, cargo vessel, service vessel, and passenger ships and ferries, among others, are the different vessel types in the market.
Fisheries management, and surveillance, among others, are the primary applications of the market.
A vessel monitoring system provides information related to location of a vessel, alarms about disruptions or malfunction, and increases the safety of vessel operations.
The main advantage of vessel monitoring system is that this system detects problems before time, which provide enough time for better decision making.
The major components of a vessel monitoring system include system management console, throughput queries, and application logs, among others.
EMA d.o.o., CLS Group, Trackwell, Visma, Pole Star Space Applications, and SRT Marine Systems plc, among others, are the key players of the Europe vessel monitoring system market, according to the report.
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