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North America Vessel Monitoring System Market: By Vessel Type: Fishing Vessel, Cargo Vessel, Service Vessel, Passenger Ships and Ferries, Others; By Application: Fisheries Management, Others; By Country; Historical Market and Forecast (2017-2027); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments

North America Vessel Monitoring System Market Outlook

The North America Vessel Monitoring System market is expected to grow at a CAGR of 13.9% during the period 2022-2027. Vessel monitoring systems are used by fisheries authorities, coastguards and navies for surveillance, search and rescue, resource management and fisheries control.

 

Market Likely to be Driven by Need for Greater Levels of Monitoring, Control, and Surveillance (MCS) of Vessels

The vessel monitoring system (VMS) refers to a satellite surveillance system chiefly employed to observe the movement and location of commercial fishing boats within U.S. jurisdiction and treaty areas. The system makes use of satellite and cellular based communications from transceiver units onboard, which specific vessels are required to carry. The transceiver units transmit position reports that include vessel identification, time, date, and location, and are mapped and exhibited on the computer screen of the end user.

Vessel monitoring is essential, especially in light of the dangers that may be faced by ships when at sea (or ocean); tracking becomes important to ensure safety of cargo and fishing vessels. Vessel monitoring systems are an integral communication component, considering the aspect of cargo delivering, fishing vessels, and passenger vessels. Vessel monitoring systems enable faster and easier vessel tracking and it help in averting unwanted situations at sea.

 

Ability of Vessel Monitoring Systems to Aid Law Enforcement and Facilitate Calls for Help Likely to Boost Market Growth

Vessel monitoring system is employed to assist law enforcement initiatives and prevent law violations. The system also enables enforcement personnel to focus their time on regions with the highest possibility for significant violations.

An important feature of vessel monitoring system is that it also acts as an effective tool to track vessels in need of immediate help. Vessels and ships with vessel monitoring system and in need of immediate help can inform appropriate authorities or other ships in the vicinity and call for SOS help. Such features and benefits are expected to drive the North America Vessel Monitoring System market. Solutions such as Trackwell VMS is used by Fisheries Authorities for Extended Economy Zone management – Surveillance, Fisheries Control and Search and Rescue. The system offers users the tools to monitors vessel movements; positional data received from the system may be used to analyse vessel behaviour, for law enforcement as well as resource management purposes. Generally, Trackwell provides the entire VMS software, technical maintenance and user-level support.

 

Sophisticated Solutions Expected to Boost Market Growth

Modern systems have become increasingly sophisticated, and come with the capability of being integrated with other management tools. Such solutions are expected to drive the North America Vessel Monitoring System market. Service providers offer advanced features such as:

  • Electronic catch reporting (e-logs) - Facilitation of near-real time catch reporting to enable fishery managers to more easily correlate catch and effort data with vessel monitoring system position information and inspection reports.
  • Integrated catch documentation schemes - Tracking and tracing fish from the point of capture through the supply chain, recording and certifying data that identifies where, when, and by whom the fish were caught.
  • Observer programs - Onboard observers independently gather information at sea, for example, tracking bycatch, catch composition, and gear configuration data. When combined and verified with vessel monitoring system, the information assumes critical importance for responsible fisheries management.
  • Catch share or quota monitoring - Catch shares, or quotas, allocate a particular area or percentage of a fishery’s total catch to an individual, community, or association. Vessel monitoring system can help fix participant accountability by offering near-real time information on vessel position as well as catch reporting through e-logs.

Higher costs may hinder market growth.

 

Market Segmentation

By vessel type, the market is segmented into:

  • Fishing Vessel
  • Cargo Vessel
  • Service Vessel
  • Passenger Ships and Ferries
  • Others

By application, the market is divided into:

  • Fisheries Management
  • Surveillance
  • Others

By country, the market is classified into:

  • United States
  • Canada
  • Mexico

 

Key Industry Players in the Market

The report presents a detailed analysis of the following key players in the North America Vessel Monitoring System market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Remora Costa Rica
  • ZenVMS
  • MetOcean Telematics
  • Pole Star Space Applications 
  • ROM Communications Inc
  • Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2021
Historical Period 2017-2021
Forecast Period 2022-2027
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Vessel Type
  • Application
  • Region
Breakup by Vessel Type
  • Fishing Vessel
  • Cargo Vessel
  • Service Vessel
  • Passenger Ships and Ferries
  • Others
Breakup by Application
  • Fisheries Management
  • Surveillance
  • Others
Breakup by Region
  • United States
  • Canada
  • Mexico
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Remora Costa Rica
  • ZenVMS
  • MetOcean Telematics
  • Pole Star Space Applications 
  • ROM Communications Inc
  • Others
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.

 

*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface 
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions   
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments  
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    North America
    6.2    Region
7    Industry Opportunities and Challenges  
8    North America Vessel Monitoring System Market Analysis

    8.1    Key Industry Highlights
    8.2    North America Vessel Monitoring System Historical Market (2017-2021) 
    8.3    North America Vessel Monitoring System Market Forecast (2022-2027)
    8.4    North America Vessel Monitoring System Market by Vessel Type
        8.4.1    Fishing Vessel
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    Cargo Vessel
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
        8.4.3    Service Vessel
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2017-2021)
            8.4.3.3    Forecast Trend (2022-2027)
        8.4.4    Passenger Ships and Ferries
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2017-2021)
            8.4.4.3    Forecast Trend (2022-2027)
        8.4.5    Others
    8.5    North America Vessel Monitoring System Market by Application
        8.5.1    Fisheries Management
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
        8.5.2    Surveillance
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
        8.5.3    Others
    8.6    North America Vessel Monitoring System Market by Country
        8.6.1    Market Share
            8.6.1.1    United States
            8.6.1.2    Canada
            8.6.1.3    Mexico
9    Market Dynamics
    9.1    SWOT Analysis
        9.1.1    Strengths
        9.1.2    Weaknesses
        9.1.3    Opportunities
        9.1.4    Threats
    9.2    Porter’s Five Forces Analysis
        9.2.1    Supplier’s Power
        9.2.2    Buyer’s Power
        9.2.3    Threat of New Entrants
        9.2.4    Degree of Rivalry
        9.2.5    Threat of Substitutes
    9.3    Key Indicators for Demand
    9.4    Key Indicators for Price
10    Competitive Landscape
    10.1    Market Structure
    10.2    Company Profiles
        10.2.1    Remora Costa Rica
            10.2.1.1    Company Overview
            10.2.1.2    Product Portfolio
            10.2.1.3    Demographic Reach and Achievements
            10.2.1.4    Certifications
        10.2.2    ZenVMS
            10.2.2.1    Company Overview
            10.2.2.2    Product Portfolio
            10.2.2.3    Demographic Reach and Achievements
            10.2.2.4    Certifications
        10.2.3    MetOcean Telematics
            10.2.3.1    Company Overview
            10.2.3.2    Product Portfolio
            10.2.3.3    Demographic Reach and Achievements
            10.2.3.4    Certifications
        10.2.4    Pole Star Space Applications 
            10.2.4.1    Company Overview
            10.2.4.2    Product Portfolio
            10.2.4.3    Demographic Reach and Achievements
            10.2.4.4    Certifications
        10.2.5    ROM Communications Inc
            10.2.5.1    Company Overview
            10.2.5.2    Product Portfolio
            10.2.5.3    Demographic Reach and Achievements
            10.2.5.4    Certifications
        10.2.6    Others
11    Industry Events and Developments

 

List of Key Figures and Tables

1.    North America Vessel Monitoring System Market: Key Industry Highlights, 2017 and 2027
2.    North America Vessel Monitoring System Historical Market: Breakup by Vessel Type (USD Million), 2017-2021
3.    North America Vessel Monitoring System Market Forecast: Breakup by Vessel Type (USD Million), 2022-2027
4.    North America Vessel Monitoring System Historical Market: Breakup by Application (USD Million), 2017-2021
5.    North America Vessel Monitoring System Market Forecast: Breakup by Application (USD Million), 2022-2027
6.    North America Vessel Monitoring System Historical Market: Breakup by Country (USD Million), 2017-2021
7.    North America Vessel Monitoring System Market Forecast: Breakup by Country (USD Million), 2022-2027
8.    North America Vessel Monitoring System Market Structure.

Key Questions Answered in the Report

The North America vessel monitoring system market is projected to grow at a CAGR of 13.9% between 2022 and 2027.

The major drivers of the market include the rise in vessel traffic, high demand for long range tracking and identification and demand for safe navigation, growing adoption of modern solutions, growing efforts by governments, and rise in production of vessels.

The increasing number of applications of fisheries and the greater monitoring of vessels to curb illegal fishing are the key industry trends propelling the market's growth.

The major regions in the industry are United States, Canada, and Mexico.

By vessel type, the market is segmented into fishing vessel, cargo vessel, service vessel, passenger ships and ferries, among others.

The major applications of the market are fisheries management and surveillance, among others.

The major players in the industry are Remora Costa Rica, ZenVMS, MetOcean Telematics, Pole Star Space Applications, and ROM Communications Inc, among others.

Analyst Review

The North America vessel monitoring system market was driven by the increasing number of applications of fisheries in the historical period. Aided by the rise in vessel traffic and greater monitoring of vessels to curb illegal fishing, the market is expected to grow at a CAGR of 13.9% in the forecast period of 2022-2027.

EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By vessel type, the market is segmented into fishing vessel, cargo vessel, service vessel, passenger ships and ferries, among others. The major applications of the market are fisheries management and surveillance, among others. The major countries for vessel monitoring system market are United States, Canada, and Mexico. The major players in the industry are Applied Satellite Technology Ltd, CLS Fisheries, ORBCOMM Inc., and Trackwell, among others.

EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.

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