Pune, India, April 18, 2022 (GLOBE NEWSWIRE) — The automatic identification systems market the size was $242.2 million in 2020. The market size is expected to grow from $250.3 million in 2021 for $374.8 million in 2028 to a CAGR of 5.94% during the forecast period 2021-2028. The global market is expected to rise over the projected period, owing to the growing adoption of IoT to improve system performance. Fortune Business Insight™ publish this information in a report entitled, “2021-2028”.
An Automatic Identification System (AIS) is an automated tracking system used to display the location of other nearby vessels. AIS is a broadcast transponder system that operates in the VHF mobile maritime band. Additionally, the system is used in different applications to transmit information about critical environmental conditions. These factors are expected to drive the market over the forecast period.
List of Key Players Featured in the Report:
- Furuno Electric Co. Ltd (Japan)
- Japan Radio Co.Ltd. (Japan)
- Saab AB (Sweden)
- ExactEarth Ltd (Canada)
- Orbcomm Inc. (USA)
- Garmin Ltd (USA)
- Kongsberg Gruppen ASA (Norway)
- True Heading AB (Sweden)
- CNS Systems AB (Sweden)
- Wartsila OYJ Abp (Finland)
- ComNav Marine Ltd (Canada)
- L3Hariss Technologies Inc. (USA)
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By class, the market is divided into Class A AIS stations, Class B AIS stations and AIS-based stations.
Based on the platform, the market is segmented into on-board, airborne and offshore platform.
Based on application, the market is divided into fleet management, vessel tracking, maritime security, search and rescue and other applications.
Based on component, the market is divided into transmitter, receivers, central processing unit, display and others.
By geography, the market is categorized into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
Drivers and constraints:
Rising international maritime trade to propel market growth
The market is expected to witness significant growth in the coming years owing to the advancement in vessel tracking and monitoring technologies. Increasing seaborne trade and supply chain with well-equipped technical support is likely to boost the market. Furthermore, increasing international maritime trade is expected to support market expansion and increase industrial revenue generation. UNCTAD’s Maritime Transport Report 2020 predicted that maritime trade growth would increase by 4.8% in 2021. Merchant ships are mainly used for maritime trade. These factors are likely to ensure the growth of the automatic identification systems market over the forecast period.
However, cybersecurity threats associated with AIS are likely to hinder the growth of the Automatic Identification System market.
Browse Detailed Abstract of Research Report with TOC:
The report provides statistical data on market development trends and recent industry advancements. Various business growth strategies are highlighted, along with the impact of the COVID-19 pandemic around the world. Further, the drivers and restraints that affect the growth of the market are elaborated along with the scope for the potential expansion of the market. Major industry players are discussed according to segmented regions. Additionally, the report sheds light on the competitive strategies adopted by key players to gain global market share.
Asia-Pacific dominates the market share due to economic development
Asia-Pacific holds the highest Automatic Identification System market share during the projected period. Asia-Pacific dominated the market and was valued at USD 72.9 million in 2020. The growth is attributed to rapid economic development and growing maritime trade in the region. According to UNCTAD’s 2020 Maritime Transport Review, Asia contributed nearly 65% of global container port traffic and remained the leading cargo-handling position in container ports.
Europe holds the second-largest global market share owing to increased investment in autonomous development of advanced vessel projects. A growing number of vessels in the region are expected to see significant growth.
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Detailed Table of Contents:
- Search scope
- Market segmentation
- Research Methodology
- Definitions and assumptions
- Market dynamics
- Market factors
- Market constraints
- Market opportunities
- key ideas
- Key Industry Developments – Mergers, Acquisitions and Partnerships
- Latest technological advances
- Analysis of the five forces of carriers
- Supply chain analysis
- Quantitative Insights – Impact of COVID-19 Pandemic on Global Automatic Identification Systems Market
- Impact of the COVIC-19 Pandemic on the Global Automatic Identification Systems Market
- Measures taken by industry/business/government to overcome the impact
- Key development in the industry in response to the impact of COVID-19
- Global Automatic Identification System Market Analysis, Outlook and Forecast, 2017 – 2028
- Main results/summary
- Market Analysis, Outlook and Forecast – By Class
- Class A AIS
- Class B AIS
- AIS-based stations
- Market Analysis, Insights & Forecasts – By Platform
- Foreign-based platform
- Market Analysis, Outlook and Forecast – By Application
- Fleet management
- Vessel Tracking
- Marine Safety
- Search and rescue
- Other request
- Market Analysis, Outlook and Forecast – By Component
- central processing unit
- Display and others
- Market Analysis, Outlook and Forecast – By Region
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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Product innovation allows key players to maintain their position in the market
The major key market players are focusing on developing and designing advanced maritime traffic solutions to drive the market. Furthermore, companies are focusing on implementing various business development strategies such as mergers, acquisitions, and partnerships to expand their global reach. These strategies allow key players to gain a competitive advantage.
- May 2021: Unseen Labs announced its partnership with ORBCOMM to provide maritime surveillance services to government and commercial AIS customers. Relying on a state-of-the-art dedicated constellation of satellites, Unseen labs’ RF emission detection services enable maritime surveillance of “dark” vessels at sea, which turn off their AIS transponders or cooperative beacons to engage in illegal activities and evade authorities.
- February 2021: L3Harris Technologies (NYSE: LHX) has been awarded a contract by Fincantieri Marinette Marine for onboard integration and production of major subsystems aboard the US Navy’s FFG 62 guided-missile frigate. L3Harris is ready to support the construction of at least 10 ships by the Navy.
Read related information:
Autonomous Ships Market Analysis of the size, share and impact of COVID-19, by autonomy (partial automation, remotely controlled and fully autonomous), by solution (hardware and software), by vessel type (commercial (bulk carriers, tankers, cargo Containers and Others) ) and Defense), by End User (Line Adjustment and Modernization) and Regional Forecast, 2021-2028
Maritime Port Services Market Analysis of the size, share and impact of COVID-19, by service (container handling services, ship repair and maintenance services, shipping services, supply chain solutions services and logistics and mechanical and electrical engineering services) and regional forecast, 2021-2028
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