In terms of revenue, the global vessel monitoring system market was valued at US$ 688.28 million in 2019 and is projected to reach US$ 1,571.04 million by 2027; it is expected to grow at a CAGR of 11.3% during the forecast period.
Increasing demand from fisheries and cargo vessel sectors has boosted the need to have an eye on trade to curb unauthorized dealings. Countries such as Thailand and South Korea have started using VMS technology to monitor their vessels, ensuring that fisheries are carrying marine products legally. This aspect is creating more demand for vessel monitoring technology,thereby driving the market growth. Another factor is the need for a mandatory environment to install VMS. Backed by government support, VMS is a standard system to monitor and control fisheries worldwide. The European government has mandated that all European countries should have this system, enabling them to transmit the data quickly and allow the Commission to monitor effectively. Besides, increasing international trade of goods other than fisheries at a large scale is projected to influence the demand for advanced tracking solutions, such as VMS. The above-mentioned factors are likely to fuel the market growth during the forecast period.
The government bodies operating in the market are taking steps or passing guidelines to strengthenbusiness of fisheries which is impacting the market growth. For instance, in regionssuch as North America and Europe, the vessel management system needs to be heavily configured and calibrated which ultimately affects the cost of such systems. On the other hand, in developing regions such as Asia and Middle East & Africa, the configuration and calibration norms for vessel management system are quite relaxed. Regulatory norms are projected to influence the market growth.
The vessel monitoring system markethas been segmented in terms of application, vessel type, and geography. Based on application, the vessel monitoring system market is segmented into fisheries management, surveillance, and others. Based on vessel type, the market is segmented into fishing vessels, cargo vessels, service vessels, passenger ships and ferries, and others. In terms of geography, the vessel monitoring system market is segmented into North America, Europe, AsiaPacific, the Middle East &Africa, and South America.
The well-established vessel monitoring system market players include Applied Satellite Technology Ltd.; Addvalue Technologies; Beijing Highlander Digital Technology Co., Ltd.; Bluetraker; CLS Fisheries; Orbcomm; Orolia Maritime; Trackwell; Remora; and VISMA.
Impact of COVID-19 Pandemic on Vessel Monitoring System Market
The COVID-19 outbreak, which began in Wuhan, China, in December 2019, has spread at a fast pace worldwide. This has urged governments across the globe to impose strict restrictions on the movement of humans and vehicles. The lockdowns have resulted in lesser production of goods and commodities. The vessel monitoring market players also experienced a slowdown in the volumes attributing to the fact that the production units were operating with a limited workforce. With the imposition of lockdown across countries in North America, Europe, and Asia, the industries have been witnessing declining trend. The fisheries industry requires a significant number of human labor. However, the COVID-19 virus is spreading through human contact, which is affecting the functioning of the industry. Compared to that of 2017, the vessel activities were reduced by over 69% during the lockdown, the fishing activities were reduced by 84%, and the passenger traffic by 78%. This has had a negative impact on the market.
The global vessel monitoring system market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the vessel monitoring system market with respect to all the segments. It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions—North America, Europe, Asia Pacific, the Middle East &Africa, and South America. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the vessel monitoring system market.
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Vessel Monitoring System Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Vessel Monitoring System Market– Key Industry Dynamics
5.1 Market Drivers
5.1.1 Rising Need for Tracking due to Unauthorized Activities
5.1.2 Escalating Growth in Fisheries Application
5.2 Market Restraint
5.2.1 High Costs Involved
5.3 Market Opportunity
5.3.1 Growing opportunities for Cargo Tracking
5.4 Future Trend
5.4.1 Integration with Advanced Technologies
5.5 Impact Analysis of Drivers and Restraints
6. Vessel Monitoring System – Global Market Analysis
6.1 Vessel Monitoring System Market Global Overview
6.2 Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning – Global Market Players Ranking
7. Vessel Monitoring System Market Revenue and Forecast to 2027 – Application
7.1 Overview
7.2 Global Vessel Monitoring System Market Breakdown, By Application, 2019 & 2027
7.3 Fisheries Management
7.3.1 Overview
7.3.2 Fisheries Management Market Forecast and Analysis
7.4 Surveillance
7.4.1 Overview
7.4.2 Surveillance Market Forecast and Analysis
7.5 Others
7.5.1 Overview
7.5.2 Others Market Forecast and Analysis
8. Vessel Monitoring System Market Revenue and Forecast to 2027 – Vessel Type
8.1 Overview
8.2 Global Vessel Monitoring System Market Breakdown, By Vessel Type, 2019 & 2027
8.3 Fishing Vessel
8.3.1 Overview
8.3.2 Fishing Vessel Market Forecast and Analysis
8.4 Cargo Vessel
8.4.1 Overview
8.4.2 Cargo Vessel Market Forecast and Analysis
8.5 Service Vessel
8.5.1 Overview
8.5.2 Service Vessel Market Forecast and Analysis
8.6 Passenger Ships & Ferries
8.6.1 Overview
8.6.2 Passenger Ships & Ferries Market Forecast and Analysis
8.7 Others
8.7.1 Overview
8.7.2 Others Market Forecast and Analysis
9. Vessel Monitoring System Market – Geographic Analysis
9.1 Overview
9.2 North America: Vessel Monitoring System Market
9.2.1 North America: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.2.2 North America: Vessel Monitoring System Market, byVessel Type
9.2.3 North America: Vessel Monitoring System Market, by Application
9.2.4 North America: Vessel Monitoring System Market, by Key Country
9.2.4.1 US: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.2.4.1.1 US: Vessel Monitoring System Market, by Vessel Type
9.2.4.1.2 US: Vessel Monitoring System Market, by Application
9.2.4.2 Canada: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.2.4.2.1 Canada: Vessel Monitoring System Market, by Vessel Type
9.2.4.2.2 Canada: Vessel Monitoring System Market, by Application
9.2.4.3 Mexico: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.2.4.3.1 Mexico: Vessel Monitoring System Market, by Vessel Type
9.2.4.3.2 Mexico: Vessel Monitoring System Market, by Application
9.3 Europe: Vessel Monitoring System Market
9.3.1 Europe: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.3.2 Europe: Vessel Monitoring System Market, By Vessel Type
9.3.3 Europe: Vessel Monitoring System Market, By Application
9.3.4 Europe: Vessel Monitoring System Market, By Country
9.3.4.1 Germany: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.1.1 Germany: Vessel Monitoring System Market, by Vessel Type
9.3.4.1.2 Germany: Vessel Monitoring System Market, by Application
9.3.4.2 France: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.2.1 France: Vessel Monitoring System Market, by Vessel Type
9.3.4.2.2 France: Vessel Monitoring System Market, by Application
9.3.4.3 Russia: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.3.1 Russia: Vessel Monitoring System Market, by Vessel Type
9.3.4.3.2 Russia: Vessel Monitoring System Market, by Application
9.3.4.4 UK: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.4.1 UK: Vessel Monitoring System Market, by Vessel Type
9.3.4.4.2 UK: Vessel Monitoring System Market, by Application
9.3.4.5 Italy: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.5.1 Italy: Vessel Monitoring System Market, by Vessel Type
9.3.4.5.2 Italy: Vessel Monitoring System Market, by Application
9.3.4.6 Rest of Europe: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.3.4.6.1 Rest of Europe: Vessel Monitoring System Market, by Vessel Type
9.3.4.6.2 Rest of Europe: Vessel Monitoring System Market, by Application
9.4 APAC: Vessel Monitoring System Market
9.4.1 APAC: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.4.2 APAC: Vessel Monitoring System Market, By Vessel Type
9.4.3 APAC: Vessel Monitoring System Market, By Application
9.4.4 APAC: Vessel Monitoring System Market, By Country
9.4.4.1 Australia: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.1.1 Australia: Vessel Monitoring System Market, by Vessel Type
9.4.4.1.2 Australia: Vessel Monitoring System Market, by Application
9.4.4.2 China: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.2.1 China: Vessel Monitoring System Market, by Vessel Type
9.4.4.2.2 China: Vessel Monitoring System Market, by Application
9.4.4.3 India: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.3.1 India: Vessel Monitoring System Market, by Vessel Type
9.4.4.3.2 India: Vessel Monitoring System Market, by Application
9.4.4.4 Japan: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.4.1 Japan: Vessel Monitoring System Market, by Vessel Type
9.4.4.4.2 Japan: Vessel Monitoring System Market, by Application
9.4.4.5 South Korea: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.5.1 South Korea: Vessel Monitoring System Market, by Vessel Type
9.4.4.5.2 South Korea: Vessel Monitoring System Market, by Application
9.4.4.6 Rest of APAC: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.4.4.6.1 Rest of APAC: Vessel Monitoring System Market, by Vessel Type
9.4.4.6.2 Rest of APAC: Vessel Monitoring System Market, by Application
9.5 MEA: Vessel Monitoring System Market
9.5.1 MEA: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.5.2 MEA:Vessel Monitoring System Market, by Vessel Type
9.5.3 MEA:Vessel Monitoring System Market, by Application
9.5.4 MEA: Vessel Monitoring System Market, by Key Country
9.5.4.1 South Africa: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.5.4.1.1 South Africa: Vessel Monitoring System Market, by Vessel Type
9.5.4.1.2 South Africa:Vessel Monitoring System Market, by Application
9.5.4.2 Saudi Arabia: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.5.4.2.1 Saudi Arabia: Vessel Monitoring System Market, by Vessel Type
9.5.4.2.2 Saudi Arabia: Vessel Monitoring System Market, by Application
9.5.4.3 UAE: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.5.4.3.1 UAE: Vessel Monitoring System Market, by Vessel Type
9.5.4.3.2 UAE:Vessel Monitoring System Market, by Application
9.5.4.4 Rest of MEA: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.5.4.4.1 Rest of MEA: Vessel Monitoring System Market, by Vessel Type
9.5.4.4.2 Rest of MEA:Vessel Monitoring System Market, byApplication
9.6 SAM: Vessel Monitoring System Market
9.6.1 SAM: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.6.2 SAM: Vessel Monitoring System Market, by Vessel Type
9.6.3 SAM: Vessel Monitoring System Market, by Application
9.6.4 SAM: Vessel Monitoring System Market, by Key Country
9.6.4.1 Brazil: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.6.4.1.1 Brazil: Vessel Monitoring System Market, by Vessel Type
9.6.4.1.2 Brazil: Vessel Monitoring System Market, by Application
9.6.4.2 Argentina: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.6.4.2.1 Argentina: Vessel Monitoring System Market, by Vessel Type
9.6.4.2.2 Argentina: Vessel Monitoring System Market, by Application
9.6.4.3 Rest of SAM: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.6.4.3.1 Rest of SAM: Vessel Monitoring System Market, by Vessel Type
9.6.4.3.2 Rest of SAM: Vessel Monitoring System Market, by Application
10. Impact of COVID-19 Outbreak
10.1 Impact of COVID-19 Pandemic on Global Vessel Monitoring System Market
10.1.1 North America: Impact Assessment of COVID-19 Pandemic
10.1.2 Europe: Impact Assessment of COVID-19 Pandemic
10.1.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
10.1.4 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
10.1.5 South America: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
12. Company Profiles
12.1 ORBCOMM Inc.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Applied Satellite Technology Ltd
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Addvalue Technologies
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Beijing Highlander Digital Technology Co., Ltd.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 BlueTraker
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 CLS Fisheries
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Orolia Maritime
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Trackwell
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Remora Costa Rica
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Visma
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About
13.2 Word Index
LIST OF TABLES
Table 1. Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Table 2. North America: Vessel Monitoring System Market, by Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 3. North America: Vessel Monitoring System Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 4. US: Vessel Monitoring System Market, by Vessel Type –Revenue and Forecast to 2027 (US$ Million)
Table 5. US: Vessel Monitoring System Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 6. Canada: Vessel Monitoring System Market, by Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 7. Canada: Vessel Monitoring System Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 8. Mexico: Vessel Monitoring System Market, by Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 9. Mexico: Vessel Monitoring System Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 10. Europe Vessel Monitoring System Market, By Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 11. Europe Vessel Monitoring System Market, By Application– Revenue and Forecast to 2027 (US$ Million)
Table 12. Germany Vessel Monitoring System Market, By Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 13. Germany Vessel Monitoring System Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 14. France Vessel Monitoring System Market, By Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 15. France Vessel Monitoring System Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 16. Russia Vessel Monitoring System Market, By Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 17. Russia Vessel Monitoring System Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 18. UK Vessel Monitoring System Market, By Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 19. UK Vessel Monitoring System Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 20. Italy Vessel Monitoring System Market, By Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 21. Italy Vessel Monitoring System Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 22. Rest of Europe Vessel Monitoring System Market, By Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 23. Rest of Europe Vessel Monitoring System Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 24. APAC: Vessel Monitoring System Market, by Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 25. APAC: Vessel Monitoring System Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 26. Australia: Vessel Monitoring System Market, By Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 27. Australia: Vessel Monitoring System Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 28. China: Vessel Monitoring System Market, By Vessel Types – Revenue and Forecast to 2027 (US$ Million)
Table 29. China: Vessel Monitoring System Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 30. India: Vessel Monitoring System Market, By Vessel Types – Revenue and Forecast to 2027 (US$ Million)
Table 31. India: Vessel Monitoring System Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 32. Japan: Vessel Monitoring System Market, By Vessel Types – Revenue and Forecast to 2027 (US$ Million)
Table 33. Japan: Vessel Monitoring System Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 34. South Korea: Vessel Monitoring System Market, By Vessel Type– Revenue and Forecast to 2027 (US$ Million)
Table 35. South Korea: Vessel Monitoring System Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 36. Rest of APAC: Vessel Monitoring System Market, By Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 37. Rest of APAC: Vessel Monitoring System Market, By Application – Revenue and Forecast to 2027 (US$ Million)
Table 38. MEA: Vessel Monitoring System Market, by Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 39. MEA: Vessel Monitoring System Market Revenue Share, by Application (2019 and 2027)
Table 40. South Africa: Vessel Monitoring System Market, by Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 41. South Africa: Vessel Monitoring System Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 42. Saudi Arabia: Vessel Monitoring System Market, by Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 43. Saudi Arabia: Vessel Monitoring System Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 44. UAE: Vessel Monitoring System Market, by Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 45. UAE: Vessel Monitoring System Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 46. Rest of MEA: Vessel Monitoring System Market, by Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 47. Rest of MEA: Vessel Monitoring System Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 48. SAM: Vessel Monitoring System Market, by Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 49. SAM: Vessel Monitoring System Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 50. Brazil: Vessel Monitoring System Market, by Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 51. Brazil: Vessel Monitoring System Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 52. Argentina: Vessel Monitoring System Market, by Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 53. Argentina: Vessel Monitoring System Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 54. Rest of SAM: Vessel Monitoring System Market, by Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 55. Rest of SAM: Vessel Monitoring System Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 56. List of Abbreviation
The List of Companies - Vessel Monitoring System Market
1. Applied Satellite Technology Ltd.
2. Addvalue Technologies
3. Beijing Highlander Digital Technology Co., Ltd.
4. Bluetraker
5. CLS Fisheries
6. Orbcomm
7. Orolia Maritime
8. Trackwell
9. Remora
10. VISMA