SWOT Analysis of Global Vessel Monitoring System Market 2020, Key Business Strategies of Major Industry Players, and Forecast 2027
According to our latest market research on “Ship Monitoring System Market Forecast to 2027 – Impact of COVID-19 and Global Analysis – by application (fisheries management, surveillance and others) and vessel type (fishing vessels, freighters, service vessels, passenger vessels and ferries, and others) ‘, The market was valued at US $ 688.3 million in 2019 and is expected to reach US $ 1571.0 million by 2027; it is expected to grow at a CAGR of 11.3% from 2020 to 2027.
AsiaPacific dominated the Vessel Monitoring Systems (VMS) market in 2019 with a decent market share, followed by Europe. The market is analyzed based on historical, current and future trends in the region. The vessel monitoring systems market in the APAC region is further segmented into China, India, Japan, South Korea, Australia and the rest of the APAC region. The fishing industry occupies an important place among millions of people in ASEAN and around the world. Seafood products, such as fish, are the most traded products globally and therefore represent a substantial percentage of world trade in agricultural products. Countries in the region, such as China, Japan and the Republic of Korea, as well as Indonesia, Thailand, the Philippines and Vietnam, are known for their fishing activities. The larger the fish haulage business, the greater the use of the vessel monitoring system. The mentioned countries are likely to positively contribute to the growth of the market during the forecast period. For example, Thailand has monitored 7,000 fishing vessels using VMS to ensure that the vessels are transporting fish legally. Thanks to VMS, illegal fishing activity is reduced, helping countries like Thailand to curb illegal fishing activity. The aspects discussed above regarding the seafood trade and the advantage of VMS are likely to propel the market in the region. In addition, AST, a Singapore-based satellite communications equipment supplier, offers 2nd generation VMS + dual channel transponder (satellite and GPRS) satellite communications. This solution is designed to track and monitor fishing vessels in harsh European waters.
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Proposal Ship Monitoring System Market The report will encompass all qualitative and quantitative aspects including market size, market estimates, growth rates, and forecast, and therefore give you a holistic view of the market. The study also includes a detailed analysis of market drivers, restraints, technological advancements and competitive landscape along with various micro and macro factors influencing the market dynamics.
The Ship Monitoring System Market report sample includes proprietary analysis of the COVID-19 pandemic in the market space under review. The sample represents the overall study format which is designed to clarify the structure of the report and some data points demonstrated in order to provide insight into the quality of the study.
Furthermore, the comprehensive study of the Vessel Monitoring Systems market research is designed due to the fact that each segment is individually assessed and then put together to form the overall market, the study can be customized to meet your requirements. your exact needs.
The structure of the vessel monitoring systems market The report can be classified into the following sections:
Section 1: Scope of the report and research methodology
Section 2: Key points to remember
Section 3: Market variables and their impact on growth and analytical tools providing high level insights into market dynamics and growth pattern
Section 4: Market estimates and forecasts (with base year 2019, historical information from 2016 and 2018, and forecast from 2020 to 2028). Regional and country level estimates and forecasts for each category are summarized to form the global market.
Section 5: Competitive landscape. Attributes such as strategic framework, competitor categorization are included to provide elaborate details on market structure and strategic companies along with their impact.
The major / emerging players in the ship monitoring systems market The research includes:
- Applied Satellite Technology Ltd.
- Addvalue Technologies
- Beijing Highlander Digital Technology Co., Ltd.
- CLS Fishing
- Orolia Maritime
Company profiles of the Ship Monitoring System Market are represented individually for all major participants and indexes such as financial performance, strategic initiatives, product portfolio, and company overview.
The company overview provides information on the location of the company in which it is headquartered, as well as the established year, the number of employees from 2017, the regions where the company operates and the main areas of business.
The overall turnover of the company / segment for the years 2019, 2018 and 2017 is provided in the sub-heading âFinancial performanceâ (listed companies) with the analysis and explanation of the increase or decrease in it due to factors such as mergers and acquisitions. , profit or loss in any strategic business unit (SBU) and others.
Comparative analysis of products:
Product benchmarking includes the complete list of products belonging to the respective market along with the application and key features.
Information relating to the new product launch, strategic collaboration, mergers and acquisitions, regulatory approval and other developments of the company in the market are covered in the strategic initiatives section.
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The Vessel Monitoring System market research is designed to keep the focus on all major countries. While all of these countries and their market trends have been taken into account when composing it, detailed sections are only available for spearheads. In case you are interested in specific countries that are not covered by the current scope, please share the list and we can customize the study according to the geographic scope defined by you.
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