Dublin, Aug. 11, 2023 (GLOBE NEWSWIRE) -- The "Global Marine AIS Monitoring System Market 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global marine AIS monitoring system market is poised for significant growth, with an expected CAGR of 5.4% during the forecast period. Marine AIS (Automatic Identification System) plays a pivotal role in modern logistics, enabling real-time tracking and data analysis. Organizations that have not embraced AIS technology need to upgrade their systems to stay competitive. However, for those who have already adopted AIS, the integration of Marine AIS monitoring solutions offers enhanced data analysis and insights, making it a valuable tool for research, tracking, and emergency response situations.
Segmental Outlook
The global marine AIS monitoring system market is segmented based on product type and application. The product type segment includes onshore-based and vessel-based systems, while the application segment is further subdivided into fleet leasing & fleet management, logistics companies, and others. Among these applications, the fleet management sub-segment is expected to hold a significant market share during the forecast period.
Fleet Management Sub-Segment Leading the Market
The increasing number of ships has made fleet management a challenging task for shipping companies. With evolving reporting requirements and emission standards, effective fleet management becomes essential. Fleet management systems enable ships to share crucial information and updates, allowing operators to plan arrivals and departures in congested ports and pre-defined zones with limited time slots. Timely arrivals prevent additional costs associated with missed schedules. Real-time fleet management solutions help navigate ships through unforeseen climate situations, with the ability to trigger alarms instantly, allowing crews to make timely decisions.
Regional Outlook
The global Marine AIS Monitoring System market is segmented geographically into North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (Middle East & Africa and Latin America). Among these, the Asia-Pacific region is expected to witness significant growth, but North America is projected to hold a prominent share in the marine AIS monitoring system market.
North America Dominates the Market
North America is set to be a leading player in the global marine AIS monitoring system market, driven by its extensive coastal areas that require constant monitoring. Canada, in particular, boasts the world's longest coastline, covering approximately 202,080 km. The region's flourishing commercial and trade activities also contribute to the demand for maritime safety and surveillance, further supporting market growth.
Market Players
Major companies in the global marine AIS monitoring system market include Oceaneering International, SpaceQuest Ltd., Siren Marine, LLC, Boening, McMurdo Group, IEM Marine, Honeywell, and Atlantic Marine Electronics, among others. These market players adopt various strategies, such as mergers, acquisitions, partnerships, funding, and new product launches, to maintain their competitive edge.
Conclusion
The global marine AIS monitoring system market is expected to witness substantial growth, driven by the rising need for real-time tracking, data analysis, and enhanced fleet management. AIS technology offers valuable insights for research and emergency response scenarios, making it an indispensable tool for organizations operating in the marine industry. As companies continue to adopt AIS systems and explore the potential of monitoring solutions, the market's growth trajectory looks promising for the forecast period and beyond.
The report covers:
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global marine AIS monitoring system market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying 'who-stands-where' in the market.
Key Topics Covered
1. Report Summary
2. Market Overview and Insights
3. Competitive Landscape
4. Market Segmentation
5. Regional Analysis
6. Company Profiles
- Atlantic Marine Electronics
- Boening
- Caterpillar Inc.
- Exact Earth
- Honeywell
- IEM Marine
- McMurdo Group
- Oceaneering International
- Siren Marine, LLC
- SpaceQuest Ltd.
- Spire Global, Inc.
- Teledyne Brown Engineering
For more information about this report visit https://www.researchandmarkets.com/r/6g45y3
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