Vessel Monitoring System Market Scope And Analysis

Report Code : TIPRE00013168
Category : Electronics and Semiconductor

No. of Pages : 150

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Vessel Monitoring System Market Analysis Report 2024 to 2031

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Vessel Monitoring System Market Report Scope

Report Attribute	Details
Market size in 2023	US$ 1.03 Billion
Market Size by 2031	US$ 2.43 Billion
Global CAGR (2023 - 2031)	11.2%
Historical Data	2021-2022
Forecast period	2024-2031
Segments Covered	By Application Fisheries Management Surveillance By Vessel Type Fishing Vessels Cargo Vessels Service Vessels Passenger Ships and Ferries
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	Applied Satellite Technology Ltd Addvalue Technologies Beijing Highlander Digital Technology Co Ltd BlueTraker CLS ORBCOMM Trackwell Orolia Maritime Remora VISMA

Vessel Monitoring System Market News and Recent Developments

The Vessel Monitoring System Marketis evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:

In March 2021, PM Modi inaugurated the 'Maritime India Summit 2021' and launched an e-book of Maritime Vision 2030 aimed at making the industry at par with the top global benchmark. India launched a real-time vessel tracking system that can help seafarers and fishermen in times of need. Apart from tracking Indian vessels globally, it can also track foreign vessels within 1,000 km of India’s coastline. (Source: News, Press Release, 2021)
In June 2022, the 24-7 Fisheries Monitoring Centre (FMC) was formally inaugurated on 21 June 2022 as part of the Sri Lanka Vessel Monitoring System (VMS) project implemented by the International Organization for Migration (IOM). Under the Sri Lanka VMS project, 4200 multi-day fishing vessels (MFV) are being equipped with VMS transponders, which would enable the DFAR to effectively monitor the MFV movements, ensuring compliance with the Indian Ocean Tuna Commission (IOTC) regulations on Illegal, Unreported Unregulated (IUU) fisheries. (Source: IOM, Press Release, 2022)

Vessel Monitoring System Market Report Coverage and Deliverables

The “Vessel Monitoring System Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
Market dynamics such as drivers, restraints, and key opportunities
Key future trends
Detailed PEST/Porter’s Five Forces and SWOT analysis
Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
Detailed company profiles