Global Vessel Monitoring Systems (VMS) Market Growth (Status and Outlook) 2023-2029

Global Vessel Monitoring Systems (VMS) Market Growth (Status and Outlook) 2023-2029

Vessel Monitoring Systems (VMS) is a general term to describe systems that are used in commercial fishing to allow environmental and fisheries regulatory organizations to track and monitor the activities of fishing vessels. They are a key part of monitoring control and surveillance (MCS) programs at national and international levels. VMS may be used to monitor vessels in the territorial waters of a country or a subdivision of a country, or in the Exclusive Economic Zones (EEZ) that extend 200 nautical miles (370.4 km) from the coasts of many countries. VMS systems are used to improve the management and sustainability of the marine environment, through ensuring proper fishing practices and the prevention of illegal fishing, and thus protect and enhance the livelihoods of fishermen.
Vessel Monitoring System can be used to capture intelligence data for defense, state and civil applications.
LPI (LP Information)' newest research report, the “Vessel Monitoring Systems (VMS) Industry Forecast” looks at past sales and reviews total world Vessel Monitoring Systems (VMS) sales in 2022, providing a comprehensive analysis by region and market sector of projected Vessel Monitoring Systems (VMS) sales for 2023 through 2029. With Vessel Monitoring Systems (VMS) sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Vessel Monitoring Systems (VMS) industry.
This Insight Report provides a comprehensive analysis of the global Vessel Monitoring Systems (VMS) landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Vessel Monitoring Systems (VMS) portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Vessel Monitoring Systems (VMS) market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Vessel Monitoring Systems (VMS) and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Vessel Monitoring Systems (VMS).
The global Vessel Monitoring Systems (VMS) market size is projected to grow from US$ 460.8 million in 2022 to US$ 919.5 million in 2029; it is expected to grow at a CAGR of 10.4% from 2023 to 2029.
Global Vessel Monitoring Systems (VMS) key players include CLS Fisheries, Satlink, Wartsila Corporation, Visma, Iridium, etc. Global top five manufacturers hold a share over 30%.
Asia-Pacific is the largest market, with a share about 50%, followed by Europe and North America, both have a share over 10%.
In terms of product, Software is the largest segment, with a share over 58%. And in terms of application, the largest application is Fishery, followed by Commercial Vessel and Military.
This report presents a comprehensive overview, market shares, and growth opportunities of Vessel Monitoring Systems (VMS) market by product type, application, key players and key regions and countries.
Market Segmentation:
Segmentation by type
Software
Hardware
Segmentation by application
Fishery
Military
Commercial Vessel
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
CLS Fisheries
Satlink
Wartsila Corporation
Visma
Iridium
Inmarsat
Orbcomm Inc.
Beijing Highlander Digital
Technology
Applied Satellite Technology Ltd
Trackwell
Orolia
SRT Marine Systems Plc
NSSLGlobal
Pole Star Space Applications
Addvalue
BlueTraker

Please note: The report will take approximately 2 business days to prepare and deliver.