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Global Vessel Tracking System Market to Grow at a CAGR of 11.4% During 2024-2032, Aided by the Rapid Technological Advancements

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Vessel Tracking System Market

Global Vessel Tracking System Market Size, Share, Growth: By Type: Automatic Identification System (AIS), Vessel Monitoring System (VMS), Long Range Identification and Tracking, Others; By End User; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032

Global Vessel Tracking System Market Outlook

The global vessel tracking system market stood at a value of USD 1,021.93 million in 2023. The market is further expected to grow at a CAGR of 11.4% in the forecast period of 2024-2032 to attain a value of USD 2,689.29 million by 2032.

 

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.

 

Global Vessel Tracking System Market

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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.

 

Global Vessel Tracking System Market

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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.

 

Global Vessel Tracking System Market

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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.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
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
    • 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 Analysis
  • Porter's Five Forces Analysis
  • 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
  • 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.

 

*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.

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    Opportunities and Challenges in the Market
8    Global Vessel Tracking System Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Vessel Tracking System Historical Market (2018-2023) 
    8.3    Global Vessel Tracking System Market Forecast (2024-2032)
    8.4    Global Vessel Tracking System Market by Type
        8.4.1    Automatic Identification System (AIS)
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Vessel Monitoring System (VMS)
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Long Range Identification and Tracking
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Others
    8.5    Global Vessel Tracking System Market by End User
        8.5.1    Fisheries Authorities
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Coastguards
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Navy and Marines
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Defence
            8.5.4.1    Historical Trend (2018-2023)
            8.5.4.2    Forecast Trend (2024-2032)    
    8.6    Global Vessel Tracking System Market by Region
        8.6.1    North America
            8.6.1.1    Historical Trend (2018-2023) 
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Europe
            8.6.2.1    Historical Trend (2018-2023) 
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Asia Pacific
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Latin America
            8.6.4.1    Historical Trend (2018-2023) 
            8.6.4.2    Forecast Trend (2024-2032)
        8.6.5    Middle East and Africa
            8.6.5.1    Historical Trend (2018-2023) 
            8.6.5.2    Forecast Trend (2024-2032)
9    North America Vessel Tracking System Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Vessel Tracking System Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Vessel Tracking System Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Vessel Tracking System Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Vessel Tracking System Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    BigOceanData
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    ORBCOMM Inc.
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Wärtsilä Oyj Abp
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    CNS Systems AB
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Harris Geospatial Solutions, Inc.
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Others
16    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global Vessel Tracking System Market: Key Industry Highlights, 2018 and 2032
2.    Global Vessel Tracking System Historical Market: Breakup by Type (USD Million), 2018-2023
3.    Global Vessel Tracking System Market Forecast: Breakup by Type (USD Million), 2024-2032
4.    Global Vessel Tracking System Historical Market: Breakup by End User (USD Million), 2018-2023
5.    Global Vessel Tracking System Market Forecast: Breakup by End User (USD Million), 2024-2032
6.    Global Vessel Tracking System Historical Market: Breakup by Vessel Type (USD Million), 2018-2023
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), 2018-2023
9.    Global Vessel Tracking System Market Forecast: Breakup by Region (USD Million), 2024-2032
10.    North America Vessel Tracking System Historical Market: Breakup by Country (USD Million), 2018-2023
11.    North America Vessel Tracking System Market Forecast: Breakup by Country (USD Million), 2024-2032
12.    Europe Vessel Tracking System Historical Market: Breakup by Country (USD Million), 2018-2023
13.    Europe Vessel Tracking System Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Asia Pacific Vessel Tracking System Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Asia Pacific Vessel Tracking System Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Latin America Vessel Tracking System Historical Market: Breakup by Country (USD Million), 2018-2023
17.    Latin America Vessel Tracking System Market Forecast: Breakup by Country (USD Million), 2024-2032
18.    Middle East and Africa Vessel Tracking System Historical Market: Breakup by Country (USD Million), 2018-2023
19.    Middle East and Africa Vessel Tracking System Market Forecast: Breakup by Country (USD Million), 2024-2032
20.    Global Vessel Tracking System Market Structure

Key Questions Answered in the Report

What was the global vessel tracking system market size in 2023?

In 2023, the global vessel tracking system market attained a value of nearly USD 1,021.93 million.

What is the growth rate of the market?

The market is projected to grow at a CAGR of 11.4% between 2024 and 2032.

What is the forecast outlook of the market for 2024-2032?

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 2,689.29 million by 2032.

What are the major market drivers?

The major market drivers include the increasing trade activities, the surging demand for efficient vessel tracking systems, and the growing investments by governments and international organisations to enhance maritime safety.

What are the key trends of the market?

Technological advancements and innovations and rising investments in research and development of vessel tracking systems by leading companies are the key trends guiding the market growth.

What are the major regional markets of vessel tracking system, according to the EMR report?

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

What are the significant types of vessel tracking system?

The significant vessel tracking system types include automatic identification system (AIS), vessel monitoring system (VMS), and long range identification and tracking, among others.

What are the various end users of vessel tracking system?

Fisheries authorities, coastguards, navy and marines, and defence are the various end users of vessel tracking system.

Who are the key vessel tracking system market players, according to the report?

The major players in the market are BigOceanData, ORBCOMM Inc., Wärtsilä Oyj Abp, CNS Systems AB, and Harris Geospatial Solutions, Inc., among others.

Analyst Review

The global vessel tracking system market attained a value of USD 1,021.93 million in 2023, 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 2024-2032, growing at a CAGR of 11.4%. The market is projected to reach USD 2,689.29 million by 2032.

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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