The Worldwide Vessel Traffic Management Industry is Expected to Reach $8.7 Billion by 2027
DUBLIN, June 8, 2022 /PRNewswire/ -- The "Global Vessel Traffic Management Market by End-user (Commercial, Defense), Component (Equipment, Solution, Service), Investment (Brownfield, Greenfield), System, Onboard Components (Equipment, Solution), and Region (2022-2027)" report has been added to ResearchAndMarkets.com's offering.
The Global Vessel Traffic Management Market is projected to grow from USD 5.8 billion in 2022 to USD 8.7 billion by 2027, at a CAGR of 8.4% during the forecast period.
The COVID-19 outbreak has led to several challenges for various industries such as aviation and consumer electronics. These industries faced many economic problems post the COVID-19 outbreak. Since the beginning of the outbreak, the transportation industry has been among the most severely hit sectors globally. Due to most countries imposing nationwide lockdowns and travel and transportation restrictions, the shipping industry was affected extremely. This outbreak has also put the shipping and marine industries in worse position since their workforces have been shut down for the sake of safety and preventing the spread of COVID-19.
With the support of the Maritime and Port Authority of Singapore, Fujitsu Limited, Singapore Management University (SMU), and A*STAR's Institute of High-Performance Computing (IHPC) announced their collaboration to develop innovative new technologies for vessel traffic management in the Port of Singapore (MPA). These predictive technologies will use artificial intelligence (AI) and big data analytics to help manage Singapore's port and surrounding seas, which see a lot of seaborne trade and traffic.
The technologies will also be evaluated using real-world data in order to enhance congestion predictions and the detection of probable accidents and other danger hotspots before they happen at sea. The Urban Computing and Engineering Centre of Excellence (UCE CoE), a public-private collaboration comprising of the Agency for Science, Technology and Research (A*STAR), SMU, and Fujitsu, was founded in 2014 to perform research and development for these new marine technologies.
Based on component, service segment is expected to have the largest market share in 2022 as well as witness the highest CAGR growth across the forecast period. Many ports are equipping VTMS systems to make their ports more efficient and reliable. With new systems require operation and maintenance services. These factors drive the market growth.
Based on system, Port management information system is expected to grow with largest CAGR. Most ports across the world have adopted some form port management information system for the efficient and reliable working of their ports.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Growth Opportunities in Vessel Traffic Management Market
4.2 Vessel Traffic Management Market, by End-user
4.3 Vessel Traffic Management Market End-user, by Commercial Sector
4.4 Vessel Traffic Management Market, by Investment
4.5 Vessel Traffic Management Market, by Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increased Vessel Congestion at Ports
5.2.1.2 Need for Automation
5.2.2 Restraints
5.2.2.1 Effect of Natural Disasters on Ports
5.2.3 Opportunities
5.2.3.1 Next-Generation Vessel Traffic Management Systems
5.2.3.2 Technological Advances in Maritime Traffic Management
5.2.4 Challenges
5.2.4.1 VTMS Facility Location
5.2.4.2 Automated Identification System (AIS) Disadvantages
5.3 COVID-19 Impact Scenarios
5.4 COVID-19 Impact on Vessel Traffic Management Market
5.5 Technology Analysis
5.5.1 AI in VTS
5.5.2 e-Navigation in Vessel Traffic Management
5.5.3 Global Navigation Satellite System (GNSS)
5.6 Trends/Disruptions Impacting Customers' Business
5.7 Pricing Analysis
5.8 Market Ecosystem
5.8.1 Prominent Companies
5.8.2 Private and Small Enterprises
5.8.3 End-users
5.9 Value Chain Analysis of Vessel Traffic Management System Market
5.10 Trade Data
5.10.1 Trade Analysis
5.11 Porter's Five Forces Model
5.12 Key Stakeholders & Buying Criteria
5.12.1 Key Stakeholders in Buying Process
5.12.2 Buying Criteria
5.13 Key Conferences & Events in 2022-2023
5.14 Tariff Regulatory Landscape for Shipping Industry
6 Industry Trends
6.1 Introduction
6.2 Emerging Industry Trends
6.2.1 AI and Machine Learning
6.2.2 Marine IoT
6.2.3 Blockchain and Big Data Analytics
6.2.4 Cybersecurity
6.3 Innovations and Patents Registrations, 2018-2021
6.4 Impact of Megatrends
7 Vessel Traffic Management Market, by Component
7.1 Introduction
7.2 Equipment
7.2.1 Communication
7.2.1.1 VHF Communication Systems
7.2.1.1.1 Increasing Usage in Short-Range Communication to Drive the Segment
7.2.1.2 RF Communications
7.2.1.2.1 Increasing Usage for Wireless Data Transfer and Voice Transfer Applications to Drive the Segment
7.2.1.3 Microwave and Network
7.2.1.3.1 Increasing Usage for Satellite Communications, Radar Signals, Smartphones, and Navigational Applications to Drive the Segment
7.2.1.4 Human Machine Interface (HMI)
7.2.1.4.1 Increasing Usage of HMI on Ports and Harbors to Drive the Segment
7.2.1.5 Servers
7.2.1.5.1 New Technological Trends to Drive the Segment
7.2.2 Navigation
7.2.2.1 Automatic Identification System (AIS) Receivers and Base Stations
7.2.2.1.1 Increasing Usage of AIS Receivers and Base Stations Creates Efficient Link Between the Sea and Monitoring Center
7.2.2.2 Direction Finders
7.2.2.2.1 Increasing Usage by Ports to Provide Navigational Aid for Ships
7.2.2.3 Radar
7.2.2.3.1 Increasing Usage to Detect Illegal Activities Across Shore and Coastline to Drive the Segment
7.2.3 Surveillance & Monitoring
7.2.3.1 Unmanned Aerial Vehicles
7.2.3.1.1 Increasing Usage of UAVs at Ports to Make Security More Efficient and Reactive
7.2.3.2 CCTV Surveillance Camera
7.2.3.2.1 Need for Latest Technology CCTV Cameras to Provide Optimum Security
7.2.3.3 Sensors
7.2.3.3.1 Advanced Sensor Technologies Used to Prevent Port Accidents
7.3 Solution
7.3.1 Sensor Integrator
7.3.1.1 Sensor Integrator Key to Providing Efficient Navigation and Decision-Making Capabilities
7.3.2 Electronic Navigation Chart (ENC)
7.3.2.1 ENCs Provide an Array of Advantages for Planning, Monitoring, and Executing Voyages
7.3.3 Multi-Sensor Tracker
7.3.3.1 Ensures Flexible Sensor Input Filtering to Provide Efficient Data to Create Traffic Maps
7.3.4 Routing Monitor
7.3.4.1 Increasing Usage to Reduce Risk and Minimize Transit Time
7.3.5 Others
7.4 Service
7.4.1 Maintenance Service
7.4.1.1 Periodic Upkeep of Equipment Vital for Offering Decision Making Support to Operators
7.4.2 Operation Service
7.4.2.1 Provides Critical Support for Decision Making to Operators Through Various Data Points
8 Vessel Traffic Management System Market, by End-user
8.1 Introduction
8.2 Commercial Sector
8.2.1 Ports and Harbor
8.2.1.1 Ports Serve as Commerce Transfer Centers and are Typically Located Near Natural Harbors
8.2.2 Inland Port
8.2.2.1 Increasing Usage for Leisure Purposes and Ferries and Fishing Operations to Drive the Segment
8.2.3 Fishing Port
8.2.3.1 Fishing Ports are Frequently Marketed as Ports That are Primarily Utilized for Recreational or Aesthetic Purposes
8.2.4 Offshore
8.2.4.1 Increasing Adoption of Advanced Technologies in Offshore Ports to Ensure Safe Operations
8.3 Defense Sector
8.3.1 Need to Prevent Piracy and Other Illegal Activities to Drive the Segment
9 Vessel Traffic Management Market, by System
9.1 Introduction
9.2 Port Management Information System
9.2.1 PMI is Single Source of Adequate and Accurate Information
9.3 Global Maritime Distress Safety System (GMDSS)
9.3.1 Ships Fitted with GMDSS Equipment are Safer at Sea and More Likely to Receive Assistance in Event of Distress
9.4 River Information System
9.4.1 RIS Combines Equipment and Related Hardware and Software Designed to Optimize Traffic and Transport Processes
9.5 Aton Management & Health Monitoring System
9.5.1 Goal of Aton Systems is to Promote Safe Navigation on Waterways
9.6 Others
10 Vessel Traffic Management System Market, by Investment
10.1 Introduction
10.2 Greenfield
10.2.1 Major Businesses Adopt Greenfield Investment Strategy to Breakdown Entrance Barriers
10.3 Brownfield
10.3.1 Brownfield Investment Used to Join a New Foreign Market Through Companies That Already Have a Presence There
11 Vessel Traffic Management Market, by Onboard Component
11.1 Introduction
11.2 Equipment
11.2.1 Communication
11.2.1.1 VHF Communication Systems
11.2.1.1.1 Increasing Usage in Short-Range Communication to Drive the Segment
11.2.1.2 RF Communications
11.2.1.2.1 Increasing Usage for Wireless Data Transfer and Voice Transfer Applications to Drive the Segment
11.2.1.3 Microwave and Network
11.2.1.3.1 Increasing Usage for Satellite Communications, Radar Signals, Smartphones, and Navigational Applications to Drive the Segment
11.2.1.4 Human Machine Interface (HMI)
11.2.1.4.1 Increasing Need for Advanced and Reliable HMI Systems on Ship Bridges to Drive the Segment
11.2.2 Navigation
11.2.2.1 Automatic Identification System (AIS) Receivers
11.2.2.1.1 Increasing Usage of AIS Receivers to Create Efficient Link Between Sea and Monitoring Center
11.2.2.2 Direction Finders
11.2.2.2.1 Increasing Usage by Ships to Establish Efficient Navigation Paths
11.2.2.3 Radar
11.2.2.3.1 Increasing Usage to Detect Illegal Activities Around the Vicinity of the Ship
11.2.3 Surveillance & Monitoring
11.2.3.1 CCTV Surveillance Camera
11.2.3.1.1 Need for Latest Technology CCTV Cameras to Provide Optimum Security Onboard Ships
11.2.3.2 Sensors
11.2.3.2.1 Advanced Sensor Technologies Used for Navigation and Ship Stability
11.3 Solution
11.3.1 Sensor Integrator
11.3.1.1 Sensor Integrator Key to Providing Efficient Navigation and Decision-Making Capabilities
11.3.2 Electronic Navigation Chart (ENC)
11.3.2.1 ENCs Provide an Array of Advantages for Planning, Monitoring, and Executing Voyages
11.3.3 Multi-Sensor Tracker
11.3.3.1 Ensures Flexible Sensor Input Filtering to Provide Efficient Data to Create Traffic Maps
11.3.4 Routing Monitor
11.3.4.1 Increasing Usage to Reduce Risk and Minimize Transit Time
12 Regional Analysis
13 Competitive Landscape
13.1 Introduction
13.2 Market Share Analysis, 2021
13.3 Revenue Analysis of Top 5 Market Players, 2020
13.4 Company Evaluation Quadrant
13.4.1 Stars
13.4.2 Emerging Leaders
13.4.3 Pervasive Players
13.4.4 Participants
13.5 Startups Evaluation Quadrant
13.5.1 Progressive Companies
13.5.2 Responsive Companies
13.5.3 Dynamic Companies
13.5.4 Starting Blocks
13.6 Competitive Benchmarking
13.7 Competitive Scenario
13.7.1 Deals
13.7.2 Product Launches
14 Company Profiles
14.1 Key Companies
14.1.1 Kongsberg Gruppen
14.1.2 Wartsila
14.1.3 Thales Group
14.1.4 Leonardo S.P.A.
14.1.5 Saab
14.1.6 Indra Sistemas
14.1.7 Tokyo Keiki
14.1.8 Hensoldt
14.1.9 Frequentis
14.1.10 Furuno
14.1.11 Japan Radio Co. Ltd.
14.1.12 Terma
14.1.13 Vissim
14.1.14 Elcome International LLC
14.1.15 ST Engineering
14.1.16 Marlan Maritime Technologies
14.1.17 Xanatos Marine Ltd.
14.1.18 Sea Surveillance AS
14.1.19 M-Nav Solutions
14.1.20 A.St.I.M. S.R.L.
14.2 Other Players
14.2.1 Marico Marine
14.2.2 Gem Elettronica
14.2.3 Horizonte AS
14.2.4 Scortel
14.2.5 Elman S.R.L.
15 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/8uz6r5
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