About Vessel Traffic Management System
A vessel traffic management system (VTMS) is used to monitor and control vessel traffic in a specific maritime region. It gives vessels and shore-based authorities a way to communicate and coordinate, which promotes the safe and effective navigation of ships. Radar and AIS (Automatic Identification System) sensors, which offer real-time data on the movement and location of vessels, are common components of VTMS. In a control center located on land, this data is subsequently processed and presented on a graphical user interface so that operators can keep an eye on and control vessel traffic.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The key players are focusing on strategic partnerships and new product launches to increase their client base, strengthen their market position, and enhance their product and service offerings. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Kongsberg Gruppen (Norway), Thales Group (France), Saab AB (Sweden), Wärtsilä Oyj Abp (Finland), L3 Technologies (United States), Japan Radio Co. Ltd. (Japan), Tokyo Keiki Inc. (Japan), Leonardo Finmeccanica (Italy), Kelvin Hughes (United States) and Indra Sistemas (Spain) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Frequentis (Austria), TERMA (Denmark) and Rolta India Ltd. (India).
Segmentation Overview
AMA Research has segmented the market of Global Vessel Traffic Management System market by and Region.
On the basis of geography, the market of Vessel Traffic Management System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Use, the sub-segment i.e. Commercial will boost the Vessel Traffic Management System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Offering , the sub-segment i.e. Brownfield will boost the Vessel Traffic Management System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by System, the sub-segment i.e. Port Management Information Systems will boost the Vessel Traffic Management System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Integration of Unmanned Systems
Market Growth Drivers:
Increasing Maritime Trade and Stringent Regulatory Requirements
Challenges:
Cybersecurity risks
Restraints:
Lack of Standardization
Opportunities:
Growing Demand for Smart Ports and Expansion of the Maritime Industry
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.