Global vessel traffic management market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 7.50% during the forecast period.
Global vessel traffic management market
The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Market Definition
Vessel traffic management (VTM) system is an extension of vessel traffic services that is used to perform tasks of managing or monitoring vessel traffics in harbors, ports, and coastal areas. VTM is a highly developed integrated solution that is appropriate for surveillance and monitoring purposes.
Market Dynamics
The rapid growth of the marine industry, high adoption of marine safety protocols, and adoption of efficient navigation systems are major driving factors behind the growth of the market. Improving marine safety methods such as navigation, radio communications rules, identification systems, and electronic chart systems, increasing shipment transport activities by sea, rising governments investment in port expansion and construction, increasing demand for 3D VTM systems by harbor and port authorities, growing requirements of improving safety and efficiency of port services and increasing demand to protect life at sea are expected to improve the growth of the market during the forecast period. VTM system provides some benefits such as enhanced situational awareness, improved traffic analysis, and reduced risks associated with marine operations, which are ultimately propelling the growth of the market.
Nevertheless, high costs associated with the VTM equipment and installation and sometimes failure in the hardware and software errors in VTM systems are major restraining factors that could hamper the growth of the market.
Global Vessel Traffic Management Market: Segmentation Analysis
By component, the equipment segment dominated the market in 2019 and is expected to maintain its dominance at CAGR of XX% during the forecast period. The growing adoption of various communication, navigation, and surveillance systems in VTM is attributed to the growth of the market. These systems include automatic identification systems, VHF and RF communication systems, radar and CCTV, or video surveillance systems. Increasing use for the marine radar system, CCTV, drone, and AIS system to identify, track, and to find the position of vessels’ and to monitor sea traffic to safely navigate ship from one station to another is driving the growth of the market.
Global Vessel Traffic Management Market: Regional Analysis
Region-wise, Asia Pacific held the largest market share in 2019 and is expected to maintain its dominance at CAGR of XX% during the forecast period. The economies such as China, India, Japan, and South Korea are the major key contributors behind the growth of the market. The growth is attributed to the growing investments in the port development and port expansion projects across the region. Increasing sea transportation activities and rising government’s support to enhance port and coastal security is driving the growth of the market.
Asia Pacific region is stretching from the Indian Ocean, through the East and South China Seas, and out to the Pacific Ocean, the region has 8 of the world’s 10 busiest container ports and around two-thirds of the world’s oil shipments or delivery transports through the Indian Ocean to the Pacific is done annually. Therefore, increasing initiatives such as the VTM system by the governments and department of defence in the APAC region to manage vessel traffic at the ports, to give situational awareness and to provide enhanced security and protection to the ports is further propelling the growth of the market in the APAC region.
The objective of the report is to present a comprehensive analysis of the Global Vessel Traffic Management Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Vessel Traffic Management Market dynamics, structure by analyzing the market segments and projects the Global Vessel Traffic Management Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Vessel Traffic Management Market make the report investor’s guide.
Scope of Global Vessel Traffic Management Market
Global Vessel Traffic Management Market, By Component
o Communication
o Navigation
o Surveillance
o Sensor Integrators
o Routing Monitors
o Multi Sensor Trackers
o Electronic Navigation Charts
o Maintenance
o Operating
Global Vessel Traffic Management Market, By System
Global Vessel Traffic Management Market, By Investment
o Public Sector Project
o Private Sector Project
o Public Sector Project
o Private Sector Project
Global Vessel Traffic Management Market, By End User
o Port & Harbor
o Inland Port
o Offshore
o Fishing Port
Global Vessel Traffic Management Market, By Region
Global Vessel Traffic Management Market, Key Players
More Information:
https://www.maximizemarketresearch.com/market-report/global-vessel-traffic-management-market/65508/Report Is Submitted By : Maximize Market Research Company
Customization of the report:
Maximize Market Research provides free personalized of reports as per your demand. This report can be personalized to meet your requirements. Get in touch with us and our sales team will guarantee provide you to get a report that suits your necessities.
About Maximize Market Research:
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
Contact info
Name: Lumawant Godage
Organization Address: MAXIMIZE MARKET RESEARCH PVT. LTD.
This Report Is Submitted By : Maximize Market Research Company
Address: Omkar Heights, Sinhagad Road, Manik Baug, Vadgaon Bk,Pune, Maharashtra 411051, India.
Contact: +919607195908 8989132284
Global vessel traffic management market
The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Market Definition
Vessel traffic management (VTM) system is an extension of vessel traffic services that is used to perform tasks of managing or monitoring vessel traffics in harbors, ports, and coastal areas. VTM is a highly developed integrated solution that is appropriate for surveillance and monitoring purposes.
Market Dynamics
The rapid growth of the marine industry, high adoption of marine safety protocols, and adoption of efficient navigation systems are major driving factors behind the growth of the market. Improving marine safety methods such as navigation, radio communications rules, identification systems, and electronic chart systems, increasing shipment transport activities by sea, rising governments investment in port expansion and construction, increasing demand for 3D VTM systems by harbor and port authorities, growing requirements of improving safety and efficiency of port services and increasing demand to protect life at sea are expected to improve the growth of the market during the forecast period. VTM system provides some benefits such as enhanced situational awareness, improved traffic analysis, and reduced risks associated with marine operations, which are ultimately propelling the growth of the market.
Nevertheless, high costs associated with the VTM equipment and installation and sometimes failure in the hardware and software errors in VTM systems are major restraining factors that could hamper the growth of the market.
Global Vessel Traffic Management Market: Segmentation Analysis
By component, the equipment segment dominated the market in 2019 and is expected to maintain its dominance at CAGR of XX% during the forecast period. The growing adoption of various communication, navigation, and surveillance systems in VTM is attributed to the growth of the market. These systems include automatic identification systems, VHF and RF communication systems, radar and CCTV, or video surveillance systems. Increasing use for the marine radar system, CCTV, drone, and AIS system to identify, track, and to find the position of vessels’ and to monitor sea traffic to safely navigate ship from one station to another is driving the growth of the market.
Global Vessel Traffic Management Market: Regional Analysis
Region-wise, Asia Pacific held the largest market share in 2019 and is expected to maintain its dominance at CAGR of XX% during the forecast period. The economies such as China, India, Japan, and South Korea are the major key contributors behind the growth of the market. The growth is attributed to the growing investments in the port development and port expansion projects across the region. Increasing sea transportation activities and rising government’s support to enhance port and coastal security is driving the growth of the market.
Asia Pacific region is stretching from the Indian Ocean, through the East and South China Seas, and out to the Pacific Ocean, the region has 8 of the world’s 10 busiest container ports and around two-thirds of the world’s oil shipments or delivery transports through the Indian Ocean to the Pacific is done annually. Therefore, increasing initiatives such as the VTM system by the governments and department of defence in the APAC region to manage vessel traffic at the ports, to give situational awareness and to provide enhanced security and protection to the ports is further propelling the growth of the market in the APAC region.
The objective of the report is to present a comprehensive analysis of the Global Vessel Traffic Management Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Vessel Traffic Management Market dynamics, structure by analyzing the market segments and projects the Global Vessel Traffic Management Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Vessel Traffic Management Market make the report investor’s guide.
Scope of Global Vessel Traffic Management Market
Global Vessel Traffic Management Market, By Component
- Equipment
o Communication
o Navigation
o Surveillance
- Solutions
o Sensor Integrators
o Routing Monitors
o Multi Sensor Trackers
o Electronic Navigation Charts
- Service
o Maintenance
o Operating
Global Vessel Traffic Management Market, By System
- Port Management Information Systems
- Global Maritime Distress Safety Systems
- River Information Systems
- AtoN Management & Health Monitoring Systems
Global Vessel Traffic Management Market, By Investment
- Brownfield
o Public Sector Project
o Private Sector Project
- Greenfield
o Public Sector Project
o Private Sector Project
Global Vessel Traffic Management Market, By End User
- Commercial
o Port & Harbor
o Inland Port
o Offshore
o Fishing Port
- Defense
Global Vessel Traffic Management Market, By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East and Africa
Global Vessel Traffic Management Market, Key Players
- Kongsberg
- L3 Technologies
- Transas
- Saab AB
- Thales
- Rolta India
- Japan Radio Co. Ltd
- Frequentis
- TERMA
- Tokyo Keiki Inc
- Indra
- Leonardo Finmeccanica
- Kelvin Hughes
More Information:
https://www.maximizemarketresearch.com/market-report/global-vessel-traffic-management-market/65508/Report Is Submitted By : Maximize Market Research Company
Customization of the report:
Maximize Market Research provides free personalized of reports as per your demand. This report can be personalized to meet your requirements. Get in touch with us and our sales team will guarantee provide you to get a report that suits your necessities.
About Maximize Market Research:
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
Contact info
Name: Lumawant Godage
Organization Address: MAXIMIZE MARKET RESEARCH PVT. LTD.
This Report Is Submitted By : Maximize Market Research Company
Address: Omkar Heights, Sinhagad Road, Manik Baug, Vadgaon Bk,Pune, Maharashtra 411051, India.
Contact: +919607195908 8989132284