Global Vessel Monitoring System Market Size & Share to 2027

Global Vessel Monitoring System Market Size & Share to 2027

Global Vessel Monitoring System Market Size, Trends & Growth Opportunity, By Vessel Type (Cargo Vessels, Service Vessels, Fishing Vessels, Tankers, Passenger Ships & Ferries, and Others), By Application (Fisheries Management, Monitoring Control and Surveillance, and Others), By Region and Forecast till 2027

Global Vessel Monitoring System Market

Vessel monitoring systems are used by environmental and fisheries regulatory enterprises to track and monitor the fishing vessels and commercial vessels activities. The functionality of this system and its equipment depends on the requirements of a particular country’s vessel’s registry and the regional water in which the vessel operates. Sub-divisions in national monitoring system apply different functionalities to different vessel categories.

Market Drivers

An increase in seaborne trade across the world that results in the increasing investment in security and safety system is key driving factor which is expected to boost the global vessel monitoring system market growth. Furthermore, rise in demand for this system in developing and developed nations to monitor and tracking the vessels will positively influence the market growth. Also, increase in investments in manufacturing sector by developed countries will propel the global vessel manufacturing system market growth in near future. Moreover, rise in demand for new vessels for various applications in oil and gas industry and shipping industry as well as increase in production of vessels are projected to fuel the global vessel monitoring system market growth during this forecast period.

Market Restraints

However, high cost of vessel monitoring system components is the major restraining factor which is expected to hamper the growth of global vessel monitoring system market. This system is very expensive and it requires costly onboard requirement in United States, and Europe which is expected to hinder the market growth during this analysis period.

Market Segmentation

Global Vessel Monitoring System Market is segmented into vessel type such as Cargo Vessels, Service Vessels, Fishing Vessels, Tankers, Passenger Ships & Ferries, and Others. Further market is segmented into application such as Fisheries Management, Monitoring Control and Surveillance, and Others.

Also, Global Vessel Monitoring System Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Market Key Players

Various key players are discussed in this report such as Applied Satellite Technology Ltd., Visma, Trelleborg AB, Trackwell, Pole Star Space Applications, Orolia Maritime, ORBCOMM, CLS Fisheries, BlueTraker (EMA d.o.o.), and Beijing Highlander Digital Technology Co., Ltd.

Market Taxonomy

By Vessel Type

• Cargo Vessels
• Service Vessels
• Fishing Vessels
• Tankers
• Passenger Ships & Ferries
• Others

• Fisheries Management
• Monitoring Control and Surveillance
• Others

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

• What are the Key Opportunities in Global Vessel Monitoring System Market?
• What will be the growth rate from 2019 to 2027?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?
• What are the strategies adopted by key players?