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

*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.