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

Global Vessel Monitoring System Market Outlook

The global Vessel Monitoring System market is expected to grow at a CAGR of 11.70% during the period 2022-2027. North America, Europe and Asia Pacific are expected to be key markets.

 

Global Market Likely to be Driven by Need to Monitor, Regulate and Observe Vessel Movement

Vessel monitoring systems are used by fisheries authorities, coastguards and navies for surveillance, search and rescue, resource management and fisheries control. Appropriate vessel monitoring can save lives and make fishing more sustainable. It is suggested that almost fifteen percent (over 25 million tonnes) of seafood is captured through Illegal, Unreported and Unregulated (IUU) fishing.

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. In 2022, Wales became the first nation in the UK to require all of its licensed commercial fishing boats to be fitted with a Vessel Monitoring System (VMS). Such regulations are expected to drive the global vessel monitoring system market. Boats that were 12m or over in length were already required to have such a system in place, but the order meant those boats under this size, more than 350 boats, must have a VMS device. The under 12 metre fishing fleet accounted for nearly 97% of Welsh registered fishing boats.  The vessel monitoring system would transmit the geographical position, date, time, speed and course of a boat, at least once every ten minutes, while fishing operations were being carried out.

 

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.

By making the installation of a VMS mandatory by law, the Thai Department of Fisheries has been able to monitor and regulate fishing vessel movements. ETNECA, Thailand’s key service provider of maritime satellite communications, develops data transmission and marine communication services, delivering vessel tracking, marine data transmission, marine traffic monitoring and electronic fishing industry protection services throughout Thailand and Myanmar. It is one of ORBCOMM’s key solution providers in the region. In 2014, ETNECA turned to ORBCOMM to generate a VMS solution for Thailand. Working with ORBCOMM’s two-way global IsatData Pro (IDP) satellite technology, ETNECA deployed ORBCOMM’s IDP-690, and later the ST 6100 – satellite terminals designed to provide full visibility of fishing operations and access vessel data including real-time position, course and speed as well as catch report—regardless of vessel location.

In 2019 The Government of National Unity procured 300 Vessel Monitoring Systems (VMS) to safeguard the life and vessels of fishermen on both St. Kitts and Nevis. St. Kitts and Nevis was the first nation in the region to introduce this as a compulsory means of tracking for all the Federation’s fishing vessels.

 

Market Segmentation

By vessel type, the global vessel monitoring system 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 region, the market is classified into:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

 

Key Industry Players in the Market

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

  • Addvalue Technologies Ltd
  • Applied Satellite Technology Ltd
  • CLS Group
  • Visma
  • Pole Star Space Applications
  • SRT Marine Systems plc
  • 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
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
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
  • Addvalue Technologies Ltd
  • Applied Satellite Technology Ltd
  • CLS Group
  • Visma
  • Pole Star Space Applications
  • SRT Marine Systems plc
  • 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    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Vessel Monitoring System Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Vessel Monitoring System Historical Market (2017-2021) 
    8.3    Global Vessel Monitoring System Market Forecast (2022-2027)
    8.4    Global 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    Global 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    Global Vessel Monitoring System Market by Region
        8.6.1    Market Share
            8.6.1.1    North America
            8.6.1.2    Europe
            8.6.1.3    Asia Pacific
            8.6.1.4    Latin America
            8.6.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Competitive Landscape
    11.1    Market Structure
    11.2    Company Profiles
        11.2.1    Addvalue Technologies Ltd
            11.2.1.1    Company Overview
            11.2.1.2    Product Portfolio
            11.2.1.3    Demographic Reach and Achievements
            11.2.1.4    Certifications
        11.2.2    Applied Satellite Technology Ltd
            11.2.2.1    Company Overview
            11.2.2.2    Product Portfolio
            11.2.2.3    Demographic Reach and Achievements
            11.2.2.4    Certifications
        11.2.3    CLS Group
            11.2.3.1    Company Overview
            11.2.3.2    Product Portfolio
            11.2.3.3    Demographic Reach and Achievements
            11.2.3.4    Certifications
        11.2.4    Visma
            11.2.4.1    Company Overview
            11.2.4.2    Product Portfolio
            11.2.4.3    Demographic Reach and Achievements
            11.2.4.4    Certifications
        11.2.5    Pole Star Space Applications
            11.2.5.1    Company Overview
            11.2.5.2    Product Portfolio
            11.2.5.3    Demographic Reach and Achievements
            11.2.5.4    Certifications
        11.2.6    SRT Marine Systems plc
            11.2.6.1    Company Overview
            11.2.6.2    Product Portfolio
            11.2.6.3    Demographic Reach and Achievements
            11.2.6.4    Certifications
        11.2.7    ROM Communications Inc
            11.2.7.1    Company Overview
            11.2.7.2    Product Portfolio
            11.2.7.3    Demographic Reach and Achievements
            11.2.7.4    Certifications
        11.2.8    Others
12    Industry Events and Developments

 

List of Key Figures and Tables

1.    Global Vessel Monitoring System Market: Key Industry Highlights, 2017 and 2027
2.    Global Vessel Monitoring System Historical Market: Breakup by Vessel Type (USD Million), 2017-2021
3.    Global Vessel Monitoring System Market Forecast: Breakup by Vessel Type (USD Million), 2022-2027
4.    Global Vessel Monitoring System Historical Market: Breakup by Application (USD Million), 2017-2021
5.    Global Vessel Monitoring System Market Forecast: Breakup by Application (USD Million), 2022-2027
6.    Global Vessel Monitoring System Historical Market: Breakup by Region (USD Million), 2017-2021
7.    Global Vessel Monitoring System Market Forecast: Breakup by Region (USD Million), 2022-2027
8.    North America Vessel Monitoring System Historical Market: Breakup by Country (USD Million), 2017-2021
9.    North America Vessel Monitoring System Market Forecast: Breakup by Country (USD Million), 2022-2027
10.    Europe Vessel Monitoring System Historical Market: Breakup by Country (USD Million), 2017-2021
11.    Europe Vessel Monitoring System Market Forecast: Breakup by Country (USD Million), 2022-2027
12.    Asia Pacific Vessel Monitoring System Historical Market: Breakup by Country (USD Million), 2017-2021
13.    Asia Pacific Vessel Monitoring System Market Forecast: Breakup by Country (USD Million), 2022-2027
14.    Latin America Vessel Monitoring System Historical Market: Breakup by Country (USD Million), 2017-2021
15.    Latin America Vessel Monitoring System Market Forecast: Breakup by Country (USD Million), 2022-2027
16.    Middle East and Africa Vessel Monitoring System Historical Market: Breakup by Country (USD Million), 2017-2021
17.    Middle East and Africa Vessel Monitoring System Market Forecast: Breakup by Country (USD Million), 2022-2027
18.    Global Vessel Monitoring System Market Structure.

Key Questions Answered in the Report

The global vessel monitoring system market is projected to grow at a CAGR of 11.70% 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, rapid technological advancements, and rise in production of vessels.

The ability of vessel monitoring systems to aid law enforcement and the greater levels of monitoring, control, and surveillance (MCS) of vessels are the key industry trends propelling the market's growth.

The major regions in the industry are North America, Europe, Latin America, Asia Pacific, the Middle East and Africa, among others.

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.

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 whereas a custom fisheries management system governed at the national and regional levels is the vessel monitoring system (VMS).

The monitoring the vessel has become mandatory with the monitoring of the United Nations. Thus, every nation across the world needs to enforce VMS as an effective tool for ship tracking and vessel monitoring.

The major players in the industry are Addvalue Technologies Ltd, Applied Satellite Technology Ltd, CLS Group, Visma, Pole Star Space Applications, SRT Marine Systems plc, and ROM Communications Inc, among others.

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