Global Vessel Tracking Systems Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Vessel Tracking Systems Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Vessel tracking software monitors the movements of ships, boats, and other marine vessels. Vessel tracking software displays the real-time positions of vessels on a map and information about each watercraft using radio signals from the automatic identification system (AIS) transponders located on each vessel. Businesses, ports, governments, and others use vessel tracking software to keep track of ships that carry cargo between ports worldwide.

Vessel tracking software can help businesses keep tabs on the status of shipments, plan the most efficient voyages, and be informed about maritime emergencies. Government officials use these tools for enforcing maritime regulations, search and rescue missions, and national security planning. The insights provided by vessel tracking software can help businesses more efficiently manage their global maritime shipping operations. Data collected by vessel tracking software can be exported and analyzed in other kinds of software, including geographic information systems or GIS software.

Market Overview:

The latest research study on the global Vessel Tracking Systems market finds that the global Vessel Tracking Systems market reached a value of USD 337.56 million in 2022. It’s expected that the market will achieve USD 453.66 million by 2028, exhibiting a CAGR of 5.05% during the forecast period.

Region Overview:

North America had the highest growth rate of all regions.

Company Overview:

L3Harris Technologies is one of the major players operating in the Vessel Tracking Systems market, holding a share of 17.97% in 2021.

L3Harris Technologies announced the completion of the all-stock merger between Harris Corporation and L3 Technologies in 2019. L3Harris Geospatial delivers scientifically proven technologies, data, and solutions-across multiple industries-that provide the necessary information to make accurate decisions and solve hard problems.

ORBCOMM is an American company that offers industrial Internet of things and machine to machine communications hardware, software and services designed to track, monitor, and control fixed and mobile assets in markets including transportation, heavy equipment, maritime, oil and gas, utilities and government.

Segmentation Overview:

Among different product types, Software segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the AIS segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Vessel Tracking Systems market covered in Chapter 3:

Garmin
L3Harris Technologies
Wärtsilä
MarineTraffic
Oceaneering (Portvision)
Wood Mackenzie (Vesseltracker)
Astra Paging (VT Explorer, VesselFinder)
Orbcomm
SAAB Group
Echol
CNS Systems
exactEarth
FleetMon
BigOceanData

In Chapter 4 and Chapter 14.2, on the basis of types, the Vessel Tracking Systems market from 2018 to 2029 is primarily split into:

Web
Software

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Vessel Tracking Systems market from 2018 to 2029 covers:

AIS
SAR
LRIT

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)