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Global Vessel Tracking System Market: By Type: Automatic Identification System (AIS), Vessel Monitoring System (VMS), Long Range Identification and Tracking, Others; By End User; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global Vessel Tracking System Market Outlook
The global vessel tracking system market stood at a value of USD 740.2 million in 2020. The market is further expected to grow at a CAGR of 11.35% in the forecast period of 2022-2027 to attain a value of USD 1410.9 million by 2026.
Heightened Demand for Long Range Identification and Tracking to Bolster the Market Growth of the Global Vessel Tracking System Industry
Based on type, the long range identification and tracking segment is predicted to hold a significant market share in the vessel tracking system industry. This growth can be attributed to the increased deployment of the long range identification and tracking system worldwide to identify and track ships and vessels to ensure their safety and security in the marine environment. Moreover, this system can help improve transparency in the marine transportation industry and maritime trade. These factors are expected to contribute to the overall market growth in the forecast period.
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The Asia Pacific to Occupy a Significant Market Share in the Global Vessel Tracking System Industry
The Asia Pacific is estimated to hold a significant share of the vessel tracking system industry in the forecast period. This growth can be attributed to the growing presence of the leading market players in the region, which are driving increased investments in the development of vessel tracking systems. In addition, the steadily increasing investments in the maritime industry by the governments are also predicted to propel the market growth. For instance, in March 2021, India launched a real-time vessel tracking system named Sagar-Manthan: Mercantile Marine Domain Awareness Centre (MMDAC) to aid fishermen and seafarers in emergencies. Moreover, the heightened demand for vessel safety and security is anticipated to drive the market growth in the forecast period.
Vessel Tracking System: Market Segmentation
A vessel tracking system refers to equipment and devices that enable marine and naval vessels to track, locate, identify, and monitor a ship. It also provides details to help understand the shipping route. Through these devices, ships deployed across the ocean can remain connected with one another and the bay, which helps to quickly locate a ship in a situation of distress.
By type, the market is divided into:
- Automatic Identification System (AIS)
- Vessel Monitoring System (VMS)
- Long Range Identification and Tracking
- Others
Based on end user, the market can be categorised into:
- Fisheries Authorities
- Coastguards
- Navy and Marines
- Defence
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Rapid Technological Advancements to Bolster the Growth of the Global Vessel Tracking System Industry
The growing demand for vessel tracking systems to maintain connectivity between ships mid-journey and the coast guards of different countries is anticipated to aid the market growth in the forecast period. The rising trade activities and the evolution of international trade routes are contributing to this growing demand. In addition, rising capital expenditures in the maritime industry by the governments across the countries are anticipated to propel the market growth in the forecast period. Moreover, the growing focus of international organisations on improving maritime safety is also leading to the development of efficient tracking mechanisms. Furthermore, the rapid technological advancements, such as the advent of 5G technology and the internet of things (IoT), along with artificial intelligence (AI) and machine learning (ML), are projected to propel the industry growth in the forecast period. These factors are estimated to positively impact the market growth in the forecast period.
Key Industry Players in the Global Vessel Tracking System Market
The report gives a detailed analysis of the following key players in the global vessel tracking system market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- BigOceanData
- ORBCOMM Inc.
- Wärtsilä Oyj Abp
- CNS Systems AB
- Harris Geospatial Solutions, Inc.
- Others
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.
| 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- Type, End User, Region |
| Breakup by Type | Automatic Identification System (AIS), Vessel Monitoring System (VMS), Long Range Identification and Tracking, Others |
| Breakup by End User | Fisheries Authorities, Coastguards, Navy and Marines, Defence |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | BigOceanData, ORBCOMM Inc., Wärtsilä Oyj Abp, CNS Systems AB, Harris Geospatial Solutions, 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 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Vessel Tracking System Market Analysis
8.1 Key Industry Highlights
8.2 Global Vessel Tracking System Historical Market (2017-2021)
8.3 Global Vessel Tracking System Market Forecast (2022-2027)
8.4 Global Vessel Tracking System Market by Type
8.4.1 Automatic Identification System (AIS)
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 Vessel Monitoring System (VMS)
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 Long Range Identification and Tracking
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 Others
8.5 Global Vessel Tracking System Market by End User
8.5.1 Fisheries Authorities
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 Coastguards
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 Navy and Marines
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2017-2021)
8.5.3.3 Forecast Trend (2022-2027)
8.5.4 Defence
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2017-2021)
8.5.4.3 Forecast Trend (2022-2027)
8.6 Global Vessel Tracking 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 BigOceanData
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 ORBCOMM Inc.
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 Wärtsilä Oyj Abp
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 CNS Systems AB
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 Harris Geospatial Solutions, Inc.
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 Others
12 Industry Events and Developments
List of Key Figures and Tables
1. Global Vessel Tracking System Market: Key Industry Highlights, 2016 and 2026
2. Global Vessel Tracking System Historical Market: Breakup by Type (USD Million), 2017-2021
3. Global Vessel Tracking System Market Forecast: Breakup by Type (USD Million), 2022-2027
4. Global Vessel Tracking System Historical Market: Breakup by End User (USD Million), 2017-2021
5. Global Vessel Tracking System Market Forecast: Breakup by End User (USD Million), 2022-2027
6. Global Vessel Tracking System Historical Market: Breakup by Vessel Type (USD Million), 2017-2021
7. Global Vessel Tracking System Market Forecast: Breakup by Vessel Type (USD Million), 2021-202
8. Global Vessel Tracking System Historical Market: Breakup by Region (USD Million), 2017-2021
9. Global Vessel Tracking System Market Forecast: Breakup by Region (USD Million), 2022-2027
10. North America Vessel Tracking System Historical Market: Breakup by Country (USD Million), 2017-2021
11. North America Vessel Tracking System Market Forecast: Breakup by Country (USD Million), 2022-2027
12. Europe Vessel Tracking System Historical Market: Breakup by Country (USD Million), 2017-2021
13. Europe Vessel Tracking System Market Forecast: Breakup by Country (USD Million), 2022-2027
14. Asia Pacific Vessel Tracking System Historical Market: Breakup by Country (USD Million), 2017-2021
15. Asia Pacific Vessel Tracking System Market Forecast: Breakup by Country (USD Million), 2022-2027
16. Latin America Vessel Tracking System Historical Market: Breakup by Country (USD Million), 2017-2021
17. Latin America Vessel Tracking System Market Forecast: Breakup by Country (USD Million), 2022-2027
18. Middle East and Africa Vessel Tracking System Historical Market: Breakup by Country (USD Million), 2017-2021
19. Middle East and Africa Vessel Tracking System Market Forecast: Breakup by Country (USD Million), 2022-2027
20. Global Vessel Tracking System Market Structure
Key Questions Answered in the Report
In 2020, the global vessel tracking system market attained a value of nearly USD 740.2 million.
The market is projected to grow at a CAGR of 11.35% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach a value of USD 1410.9 million by 2026.
The major drivers of the industry, such as the increased demand maritime safety, increased demand for efficient vessel tracking systems, heightened investments by the governments and international organisations, increased trade activities, and the rising investments in research and development of vessel tracking systems by the leading manufacturers, are expected to aid the market growth.
The key market trends guiding the growth of the industry include the rapid technological advancements.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant types of vessel tracking system include automatic identification system (AIS), vessel monitoring system (VMS), long range identification and tracking, and others.
The significant end users considered in the market report include fisheries authorities, coastguards, navy and marines, and defence.
The major players in the industry are BigOceanData, ORBCOMM Inc., Wärtsilä Oyj Abp, CNS Systems AB, Harris Geospatial Solutions, Inc., and others.
Analyst Review
The global vessel tracking system market attained a value of USD 740.2 million in 2020, driven by the increased demand for efficient vessel tracking systems worldwide. Aided by the rapid technological advancements, the market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 11.35%. The market is projected to reach USD 1410.9 million by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on type, the market can be distributed into automatic identification system (AIS), vessel monitoring system (VMS), long range identification and tracking, and others. On the basis of end user, the industry can be segmented into fisheries authorities, coastguards, navy and marines, and defence. The major regional markets for vessel tracking system are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include BigOceanData, ORBCOMM Inc., Wärtsilä Oyj Abp, CNS Systems AB, Harris Geospatial Solutions, Inc., and 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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