Dublin, Feb. 09, 2022 (GLOBE NEWSWIRE) -- The "Automatic Identification Systems - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Automatic Identification Systems Market to Reach US$310.9 Million by the Year 2026
The global market for Automatic Identification Systems estimated at US$231.3 Million in the year 2020, is projected to reach a revised size of US$310.9 Million by 2026, growing at a CAGR of 5.2% over the analysis period.
With AIS, it is possible to transmit accurate information, quickly and dynamically. All these advantages offered by AIS devices helped in market growth over the past many years. Another primary reason for increase in growth for the market for AIS devices is the expansion of applications. There are now several new maritime applications for which AIS has been made compulsory.
Initially, deployment of AIS on vessels was only for collision prevention and safety but the technology's flexibility enabled new applications like allowing cost-effective navigation. Oil companies and large shipping operators are the primary end-users of AIS devices. AIS was also employed for identifying how the pandemic impacted fishing activity globally.
Class A, one of the segments analyzed in the report, is projected to grow at a 5.6% CAGR to reach US$160.6 Million by the end of the analysis period.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Class B segment is readjusted to a revised 5.1% CAGR for the next 7-year period. This segment currently accounts for a 28.7% share of the global Automatic Identification Systems market.
The Class A segment is gaining from mandatory installation of Class A AIS on Safety of Life at Sea (SOLAS) vessels. These vessels encompass passenger ships of all sizes, vessels exceeding the 500 gross tonnage mark but not intended for international voyages, and vessels that exceed the 300 gross tonnage mark and move on international voyages.
While Class B AIS scores low over Class A options in terms of functionality, they can be used with Class A AIS for communications and operations.
AIS Base Stations Segment to Reach $70.7 Million by 2026
In the global AIS Base Stations segment, USA, Canada, Japan, China and Europe will drive the 4.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$43.8 Million in the year 2020 will reach a projected size of US$58.7 Million by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$9.1 Million by the year 2026.
The U.S. Market is Estimated at $76.4 Million in 2021, While China is Forecast to Reach $44.7 Million by 2026
The Automatic Identification Systems market in the U.S. is estimated at US$76.4 Million in the year 2021. The country currently accounts for a 32% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$44.7 Million in the year 2026 trailing a CAGR of 6.7% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.9% and 4.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.5% CAGR while Rest of European market (as defined in the study) will reach US$26.9 Million by the end of the analysis period.
North American and European markets are currently the largest for AIS devices. These regions depend heavily on water transportation for cross border trade. The large coastline of North America requires constant monitoring. This combined with growing trade and other commercial activities is promoting the need for enhanced maritime surveillance.
Also, quite a few AIS device manufacturers are based in this region. Growth is significant in the Asia-Pacific market, where countries like South Korea, India and China are trying to strengthen their maritime security and increase cross border trade.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- AIS Market to Come Out from Sea of Challenges Brought by COVID-19 Pandemic
- Impact of Pandemic on Underwater Sound Levels
- An Introduction to Automatic Identification Systems (AIS)
- Global Market Prospects & Outlook
- AIS-Powered Nowcasts for Effective Tracking of Seaborne Trade to Open New Avenues for AIS Technology
- Inconsistent Data Quality Remains Key Restraint for AIS Market
- Analysis by Class
- Analysis by Platform Type
- Analysis by Application
- Regional Analysis
- India for Inclusion of AIS-Related Clauses in its New Maritime Contracts
- Recent Market Activity
- Select Global Brands
2. FOCUS ON SELECT PLAYERS (Total 155 Featured)
- C.N.S. Systems AB
- ComNav
- exactEarth Ltd.
- Furuno Electric Co., Ltd.
- Garmin Ltd.
- Honeywell International Inc.
- Jotron AS
- Kongsberg Gruppen ASA
- Onwa Marine Electronics Co. Ltd.
- ORBCOMM, Inc.
- SAAB AB
- SRT Marine Systems plc
- Teledyne FLIR LLC
- True Heading AB
3. MARKET TRENDS & DRIVERS
- Diverse Application Areas Promise Growth of the AIS Market
- AIS and CAS Gain Traction in Maritime Applications
- Positive Outlook for Maritime Transport to Augment Growth of AIS Market
- AIS Becomes New Norm in Maritime Industry for Real-Time Vessel Tracking
- Rising Commercial & Recreational Maritime Activity: Opportunity Indicator for AIS
- Steady Growth in Seaborne Trade Volumes Drives Demand for Automatic Identification System
- Rise in Number of Container Ships and Gas Carrier Marine Freight Worldwide: An Opportunity for the Market
- Expanding Fleet of Cruise Liners Presents Favorable Outlook for AIS Market
- Shipbuilding Activity Trends Influence Dynamics of Automatic Identification System Market
- Transmission of Environmental Information over AIS for Ensuring Navigational Safety
- Automatic Identification System Gains Traction in Climate Recording Applications
- Reporting Weather Observations Using AIS Transmitters
- Real-time Monitoring of Ship Response to Major Storm Events
- Novel Opportunities Identified in Hydrography Survey Projects
- Automatic Identification Systems Steps In to Simplify Harbor Monitoring
- Emphasis on Migration from Onshore to Offshore Oilfield Operations to Augment Long-Term Growth Prospects
- Critical Importance of Tracking System in Offshore Environments Augurs Well for Future Growth
- Naval Defense Emerge as a Key End-Use Sector
- Fast Evolving Role of Unmanned Vessels Bodes Well
- Disruptions in Military Training and Defense Budget Cuts Amidst the Pandemic
- AIS Evolution in Full Swing with Regulatory Support & Technological Progress
- Select Technological Advancements
- AIS Spoofing Menace Highlights Need for AI to Help Businesses Stay on Top of Game
- Automatic Identification System Data: The Promises and Drawbacks
- Challenges in the AIS Domain
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/i9jqnk
