South America Collision Avoidance and Object Detection Maritime Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Technology (LiDAR, Computer Vision, Radar, and Others), Application (Blind Spot Detection, Night Vision, and Others), and

South America Collision Avoidance and Object Detection Maritime Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Technology (LiDAR, Computer Vision, Radar, and Others), Application (Blind Spot Detection, Night Vision, and Others), and End User [(Unmanned Surface Vehicle, Ships, and Autonomous Underwater Vehicle (AUV)]

The collision avoidance and object detection maritime market in South America is expected to grow from US$ 17.05 million in 2022 to US$ 22.60 million by 2028. It is estimated to grow at a CAGR of 4.8% from 2022 to 2028.

Rapid Development of AI and ML Enabled Navigation Systems

The technological shift towards adoption of AI and ML in marine navigation system is a key trending factor that accelerates the deployment of collision avoidance and object detection system in the maritime industry which is propelling the market growth. The adoption of AI and ML provides added safety features in the navigation system for marine applications with precise accuracy and efficiency. The associated advantages of using the AI and ML in maritime industry enhances the predictive capabilities and make the operations more efficient. Some implementations include real-time analytics, improved scheduling, automated processes, and among others. The AI optimizes the navigational sense using machinery and engines' data transmitted by connected sensors allowing the predictive maintenance. Machine learning algorithms help optimize routes to minimize fuel consumption, using the vessel’s information. Furthermore, AI and ML integrated with collision avoidance and object detection systems automatically detects hazardous objects or small vessels in the path of the ship even during times of low visibility. The growing initiatives for development of AI-based navigation system from leading players is anticipated to propel the market growth. For instance, in June 2022, Sea Machines Robotics has unveiled AI-ris, a new marine computer-vision navigation sensor designed to improve safety and performance of vessels. Thus, such advantageous features of using AI and ML enabled navigation systems is anticipated to drive the market growth over the forecast period.

Market Overview

South America is segmented into Brazil, Argentina, Colombia, and several small island nations. The strong presence of tourism and commercial marine industries has contributed significantly to the notable number of marine vessels and marinas for sea-related leisure and sports activities. Though, the industry is heavily fragmented, presence of significant number of small players have facilitated in the development of port infrastructure and technological adoption for their seamless operation across prominent commercial ports throughout the Latin American countries. Furthermore, the rising inclination toward advanced technologies such as UAVs is significantly contributing to the market growth. For instance, in June 2022, TASA, a Peruvian fishing company, introduced its first unmanned surface vessel (USV) for oceanographic & marine resource monitoring and fish-finding activities. This UAV is integrated with collision avoidance sensors and object detection technologies to enhance situational awareness and mitigate collision risk. Thus, significant development and adoption of advanced technologies by the marine industry is driving the market.

South America Collision Avoidance and Object Detection Maritime Market Revenue and Forecast to 2028 (US$ Million)

South America Collision Avoidance and Object Detection Maritime Market Segmentation

The South America collision avoidance and object detection maritime market is segmented into by technology, application, end user, and country.

Based on technology, the market is segmented into LiDAR, computer vision, radar, and others. The radar segment held the largest market share in 2022. Based on application, the market is segmented into blind spot detection, night vision, and others. The others segment held the largest market share in 2022. Based on end user, the market is segmented into unmanned surface vehicle, ships, and autonomous underwater vehicle (AUV). The Ships segment dominated the market share in 2022. Based on country, the market is segmented into Brazil, Argentina, and the Rest of South America. Brazil segment dominated the market share in 2022. Benewake (Beijing) Co Ltd; Orlaco Products BV; Raytheon Anschutz GmbH; Garmin Ltd.; Sea Machines Robotics Inc.; Teledyne FLIR LLC.; and Furuno Electric Co Ltd are the leading companies operating in the collision avoidance and object detection maritime market in the region.

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