Global Vessel Tracking Systems Market Overview:
A vessel tracking system, as the name suggests is a collection of equipment's which enable marine and naval vessels to track, identify and monitor a ship’s position, location and any other detail that might be important in maneuvering and stabilising a ship’s route and course. In today’s highly revolutionised world of marine travel, a vessel tracking system plays a very important role by bringing about long range connectivity not only between coast guards of nations but also among ships as well. Also, since the pioneering of the internet, many such vessel tracking systems have managed to incorporate internet connectivity as a part of their core objective thus providing a much better service Some of the key players profiled in the study are Big Ocean Data (United Kingdom), ORBCOMM Inc. (United States), SAAB Group (Sweden), Echol Tech Pte Ltd. (Singapore), Garmin International (United States), L-3 Communication Holding Ltd. (United States), Wartsila Oyb Abp (Finland), CNS Systems AB (Sweden), Raytheon Company (United States) and Harris Corporation (United States). According to Market Analyst at AMA, the Global Vessel Tracking Systems market may see a growth rate of 10.9%
On the basis of geography, the market of Vessel Tracking Systems 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 Tracking Technology, the sub-segment i.e. Automated Identification Systems will boost the Vessel Tracking Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Platform, the sub-segment i.e. Onshore-based Platform will boost the Vessel Tracking Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-users, the sub-segment i.e. Government will boost the Vessel Tracking Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing focus on security and tracking
Market Trend
- Number of sea trade is increasing due to the the presence of enormous coastline in the countries
Restraints
- Poor infrastructure growth associated with the product market
Opportunities
- Increasing partnerships among the military forces and private organisations with an aim to develop robust marine vehicle tracking systems
Challenges
Major Market Developments:
Transas Marine limited was acquired by Wartsila Oyj Abp in order to accelerate its Smart Marine ecosystem. However, the company is being allowed to operate as a separate entity, and will get to work within a global maritime company in delivering its solutions, bringing scale and value to the industry in need of innovation
ClipperData, the leading provider of comprehensive data sets, analysis and commentary on global crude and refined product movements, has entered into a long-term agreement to use the BigOceanData (BOD) AIS-based vessel tracking portal
Target Audience:
Automobiles manufacturer, Automobiles distributors and suppliers, Automobiles and parts provider, Vessel Tracking Systems manufacturer and supplier, Vessel Tracking Systems and raw materials generator, Research firm, Regulatory bodies and End users
Major Objectives Focused through this Study
To define, describe, and forecast the Global Vessel Tracking Systems market on the basis of product [
] , application [Commercial fishing, Tracking position and Others], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Vessel Tracking Systems market with respect to major geographies, namely, 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)
To strategically profile the key players and analyzing their market shares and core competencies in the Vessel Tracking Systems industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization:
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Vendors which are also part of the research are .
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Vessel Tracking Systems market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.