North America Vessel Monitoring System Market Report and Forecast 2024-2032

North America Vessel Monitoring System Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the North America vessel monitoring system market is projected to grow at a CAGR of 13.9% between 2024 and 2032. Aided by the escalating demand for advanced maritime technologies and the expanding applications of vessel monitoring systems in numerous marine industries, the market is expected to grow significantly by 2032.

A vessel monitoring system (VMS) is an advanced surveillance system used extensively in the maritime sector for real-time tracking and monitoring of ships. It plays an instrumental role in maintaining maritime security, ensuring safety, and enhancing efficiency. Apart from its prime surveillance functionality, a VMS finds its utility in a wide range of industrial applications, including fisheries, maritime logistics, offshore wind energy, and marine research.

The rise in demand for advanced maritime technologies is a significant driver for the North America vessel monitoring system market growth. As the marine sector grapples with heightened security concerns and enforces stricter fishing regulations, the demand for efficient and reliable vessel monitoring systems has seen a notable increase. The surge in digital transformation and incorporation of the Internet of Things (IoT) in the marine industry further bolster the demand for VMS, owing to their provision of real-time data and improved operational efficiency.

The widening application spectrum of VMS in various marine industries also plays a significant role in contributing to the North America vessel monitoring system market development. In the fisheries industry, VMS is employed to track fishing vessels and ensure compliance with fishing laws, thereby supporting sustainable fishing practices. For maritime logistics, VMS is leveraged for efficient fleet management and ensuring the timely delivery of goods. Additionally, emerging sectors such as offshore wind energy and marine research are increasingly adopting VMS for improved operational management and data gathering.

Furthermore, the burgeoning demand for maritime safety and conservation in North America has driven a greater focus on VMS as an essential tool for marine management. With increasing instances of illegal fishing activities and maritime accidents, the role of VMS in enforcing marine laws, tracking unlawful activities, and ensuring the safety of maritime personnel has become indispensable, further fuelling the North America vessel monitoring system market demand.

Market Segmentation

The market can be divided based on vessel type, application, and country.

Market Breakup by Vessel Type

• Fishing Vessel
• Cargo Vessel
• Service Vessel
• Passenger Ships and Ferries
• Others

Market Breakup by Application

• Fisheries Management
• Surveillance
• Others

Market Breakup by Country

• United States
• Canada
• Mexico

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the North America vessel monitoring system market. Some of the major players explored in the report by Expert Market Research are as follows:

• Remora Costa Rica
• ZenVMS
• MetOcean Telematics
• Pole Star Space Applications
• ROM Communications Inc
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.