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 (2018-2028); 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% between 2023 and 2028. The market is being driven by the increasing traffic of vessels and stringent maritime safety regulations of the governments in the region.

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Key Trends in the Market

A vessel monitoring system refers a system that is designed to monitor the movement of vessels, using satellited based data and other data procured, integrating into a cohesive system. This system monitors fishery activities, brings safety in sea operations, and provides real-time insights for governments and authorities. Vessel monitoring systems aid in averting any misconduct or criminalities in the sea.

• The increasing awareness and stringent regulations of the governments across the region, pertaining to the need to bolster maritime security is driving the North America vessel monitoring system market. In addition, the increasing cases of criminal activities in sea, such as marine life cruelty and illegal fishing, are further adding to the market growth.

• Increasing expenditure across countries of the region, aimed towards upgrading, repairing, and maintaining deployed vessels is further increasing the demand for vessel monitoring systems. In addition, the rising international cooperation between well-established economies to upgrade fleets, in order to enhance marine capabilities and trade, is likely to provide impetus to the market in the forecast period.

• Rapid advancements in technology of marine vessels, aimed towards increasing the efficiency of surveillance and search and rescue operations, are expected to garner the market growth in the coming years. Further, increasing sophistication of vessel monitoring technology, supported by the strong foothold of major market players are likely to aid the North America vessel monitoring system market.

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Market Analysis

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 States, Canada, and Mexico.

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 North America vessel monitoring system market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Remora Costa Rica

• ZenVMS

• MetOcean Telematics

• Pole Star Space Applications

• ROM Communications Inc

• Others

Market Share by Vessel Type

The fishing vessels segment, based on vessel type, accounts for a healthy share of the North America vessel monitoring system market. Authorities of the United States are currently focussing on bringing light to suspicious behaviours in the sea, discouraging illegal fishing activities, protecting habitats in the ocean, and reducing animal cruelty. Emergence of automatic identification system (AIS) as an individual tool for monitoring fishing activities is another key driving factor of the segment, which is likely to increase the efficiency and safety in fishing activities.

Meanwhile, the passenger ships and ferries segment is anticipated to witness a steady growth in the forecast period. The increasing incorporation of vessel monitoring systems in public and passenger vessels to reduce vessel collisions and to increase awareness about ship location, in order to improve the safety of passengers, is expected to bolster the growth of this segment in the coming years.

Market Share by Application

Based on application, the fisheries management segment accounts for a significant share in the North America vessel monitoring system market. Vessel monitoring systems are crucial for sustaining, protecting, and maintaining the health of marine ecosystem. The increasing domestic demand for seafood is further leading to a heightened deployment of fishing vessels, and with an increased number of fishing vessels deployed in the region there is a greater need for efficient tracking to prevent collisions as well as over fishing in specific areas. Favourable policies of the governments in the region, aimed towards combatting illegal fisheries, while maintaining security in reserved fishing zones are expected to enhance the demand for vessel monitoring systems in the forecast period.

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Competitive Landscape

Remora Costa Rica is a company which develops tech solutions for seafood traceability and the technological solutions portfolio of this company includes vessel monitoring systems, smart scales, mobile applications, and fishing data platforms, among others. The company was founded in 2016 and is currently headquartered in San Jose, Costa Rica.

ZenVMS is a leading company which provides regulated fishing vessels and simple to use solutions built for commercial and for-hire fishermen. Users of ZenVMS get their online activation and online support demands catered to using the reliable services offered by this company. ZenVMS is currently based out of Florida in the United States.

MetOcean Telematics is a renowned satellite communications company which provides devices such as handsets, hardware, vessel tracking and data services, and military communication equipment, among others. The product portfolio of this company also includes equipment and devices related to ice tracking, weather monitoring, and subsurface monitoring, among others. It was founded in 1984 and is currently headquartered in Nova Scotia, Canada.

Other market players include Pole Star Space Applications, and ROM Communications Inc, among others.

Key Highlights of the Report

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.