Asia-Pacific Vessel Monitoring System Market Report and Forecast 2024-2032

Asia-Pacific Vessel Monitoring System Market Outlook

The Asia Pacific vessel monitoring system market size is expected to grow at a CAGR of 10.7% during the forecast period of 2024-2032. The market is being driven by growing maritime trade, increasing vessel traffic on water routes, and rising demand for long range tracking and identification.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Key Trends in the Market

A vessel monitoring system (VMS) is a satellite-based monitoring system that provides information about the location, speed, and path of vessels to end users such as fishing vessel operators and cargo vessel operators. Fisheries management extensively use VMS, in addition to passenger ships, ferries, and service vessels. Additionally, the vessel monitoring systems enable enforcement agencies to concentrate their efforts in areas where there is a greater likelihood of violations.

• Increased vessel traffic, increased demand for long-range tracking and identification, and demand for safe navigation in international waters are key factors driving the demand for the Asia Pacific vessel monitoring system market. The positioning of the region as a significant manufacturers, particularly in countries like China, is surging the demand for cargo vessels to ship products globally, increasing the need for adequate vessel monitoring.

• Vessel monitoring systems are increasingly being integrated with features like surface temperature monitors, traffic and collision management, satellite communication, and real-time weather forecast owing to ongoing technological advancements. Technologies like artificial intelligence (AI) and machine learning (ML) are increasingly being incorporated into advanced vessel monitoring system software, thus aiding the Asia Pacific vessel monitoring system market.

• The widespread fishery industry in the region, supported by heightened consumption of seafood in countries like Japan, is surging the demand for VMS to manage fishery activities. Vessel monitoring systems enable governing bodies to identify any vessel and illegal fishing activities occurring in restricted areas or at restricted times. It also helps to identify and locate unidentified or non-permitted vessels that are operating in the region.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Market Analysis

By vessel type, the market is segmented into fishing vessel, cargo vessel, service vessel, and passenger ships and ferries, among others. Based on application, the Asia Pacific vessel monitoring system market is divided into fisheries management and surveillance, among others. The major countries for vessel monitoring systems in the Asia Pacific are China, Japan, India, ASEAN, and Australia, among others.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model, along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Asia Pacific vessel monitoring system market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

• The Highlander Company

• Addvalue Technologies Ltd

• Applied Satellite Technology Ltd

• GMT COMPANY, INC.

• CLS Group

• Others

Market Share by Vessel Type

Cargo vessels account for a sizable share of the Asia Pacific vessel monitoring system market due to the growing production and manufacturing capabilities in the region and increasing globalisation of trade. Typically, cargo ships are larger in size and are often equipped with cranes and other mechanisms for loading and unloading products being shipped. With increase in movement of cargo vessels in the Asia Pacific region, there is greater emphasis on adequate tracking and monitoring to prevent mishaps on the water, which is increasing the demand for the Asia Pacific vessel monitoring system market. Meanwhile, fishing vessels are also expected to witness steady growth in the coming years, due to the growing fisheries industry as well as rising demand for seafood.

Market Share by Application

Surveillance is account for a significant share of the Asia Pacific vessel monitoring system market due to the growing traffic on local sea routes increasing the need for safety on water. The precise geographic position of a vessel is shown by the VMS using global positioning systems (GPS), and the ability of inspectors to access VMS data in real-time allows them to pinpoint the precise location of vessels, enabling onboard inspections as needed. The process of tracking a vessel is made simple and quick by the use of VMS, and it helps to stop illegal actions at sea. Southeast Asian nations like Thailand and South Korea have been employing VMS technology to track their ships to make sure that fishermen are carrying marine products legally.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Competitive Landscape

The Highlander Company, founded in 2002 and based in Beijing, China, creates and offers electronic surveillance systems, both small scale and large scale, to aid various end users in keeping track of valuable assets. The company caters to maritime port authorities, private port operators, coastguards, aqua farmers, offshore oil and gas exploration and production companies, and wind farm operators, among others.

Addvalue Technologies Ltd., established in 1996 and headquartered in Bedok, Singapore is a leading provider of satellite-based communication systems. Modern communication terminals offered by Addvalue are available for usage in space, air, sea, and land. Additionally, the company provides its clients with significant engineering and integration services to aid in seamless incorporation of its products with client systems.

Applied Satellite Technologies Ltd, established in 1992 and headquartered in Norfolk in the United Kingdom is one of the leading satellite communication providers. An independent company focussed on providing practical services at an international, Applied Satellite Technologies helps its clients improve operational performance, resilience, cost efficiency, and crew safety. Its solutions are available for maritime and land, along with services for consultancy, installation, and repairs and servicing, among others.

Other market players include GMT COMPANY, INC. and CLS Group, among others.

Key Highlights of the Report