European Vessel Monitoring System Market Report and Forecast 2024-2032

European Vessel Monitoring System Market Outlook

The Europe vessel monitoring system market is expected to grow at a CAGR of 11.9% between 2024 and 2032. The market is being driven by the increasing maritime activities in the region supported by a vast coastline and the rising need to prevent accidents and criminal activities on water.

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Key Trends in the Market

A vessel monitoring system refers to a system which is developed to provide information about the accurate geographic position of a vessel. This system is designed to carry out fast and efficient tracking of a vessel in order to impede the chances of any criminal or illegal activities in the waters and reduce risks of accidents and collisions. The real-time insights provided by this system improve the safety and security of an oceanic territory.

• The increasing concerns pertaining to maritime accidents and disasters are the key driving factors of Europe vessel monitoring system market. Increasing risk of penetration of terrorists and criminals is heightening the security levels across the seas. Additional maritime threats include illegal immigration, piracy, trafficking, illegal fishing, illicit trade, and environmental crime.

• Projects such as the Maritime Integrated Surveillance Awareness (MARISA) initiative launched by the European Commission are heightening the focus of safety on water, with an aim to strengthen collaboration and information exchange. Such initiatives are increasing the incorporation of technology for maritime safety and bolstering the vessel monitoring system market in Europe.

• Increasing shift from traditional to satellite-based surveillance systems is another key trend in the Europe vessel monitoring system market as satellite-based systems offer significant benefits and enhanced features. The rising awareness about enhanced security and real-time positioning offered by vessel monitoring systems is likely to aid the market in the forecast period.

Market Analysis

Based on vessel type, the market is segmented into fishing vessel, cargo vessel, service vessel, and passenger ships and ferries, among others. On the basis of application, the market is classified into fisheries management, and surveillance, among others. Country wise, the market is divided into the United Kingdom, Germany, France, and Italy, 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 key players in the Europe vessel monitoring system market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• EMA d.o.o.

• CLS Group

• Trackwell

• Visma

• Pole Star Space Applications

• SRT Marine Systems plc

• Others

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Market Share by Vessel Type

Passenger ships and ferries, based on vessel type, accounts for a healthy share of the Europe vessel monitoring system market due to the thriving cruise ship and ferries sector across well-established economies of this region. Extensive waterways in the region are leading to widespread usage and demand for passenger ships and ferries, further supported by the robust tourism industry in Europe and sizable influx of tourists.

Strengthening supply chain of hydrogen and batteries is expected to increase the deployment of passenger vessels in the forecast period, leading to a greater growth of this segment. To improve the safety of passengers, vessel monitoring systems are increasingly used, thereby, heightening the growth of this segment. Furthermore, the growing innovations and increasing efforts by the market players to modernise the ferry-related operations across the busiest sea routes of Europe, are expected to add to the growth of the overall market in the coming years.

Market Share by Application

Based on application, fisheries management accounts for a significant share in the Europe vessel monitoring system market, due to the heightened deployment of fishing vessels across water routes in the region. Widespread consumption of seafood throughout Europe and increasing demand for seafood due to the rising awareness regarding its health benefits is surging the number of fishing vessels in Europe, heightening the importance of fisheries management.

In addition, vessel monitoring systems are beneficial for small scale operators as they enable recording of fish species, quantities, size, and catch locations. Furthermore, the increasing incorporation of small scale fishing vessels in European fleets is aiding the market growth. The rising adoption of satellite-based technologies to carry out location and identification of fishing vessels, to ensure security during fishing activities, is further fuelling the growth of this segment and the overall Europe vessel monitoring system market.

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Competitive Landscape

EMA d.o.o. is a leading electric company which develops technologies related to telematics and various solutions developed for environment sustainability. The company offers various services which cater to the demands of sectors such as government, maritime, aviation, energy, research, and industrial. EMA was established in 1991 and is headquartered in Celje, Slovenia.

CLS Group is a global leading market player in sustainable fisheries management which provides high-quality data, expertise, software, hardware, and value-added services. The product portfolio of this company includes vessel monitoring systems, electronic catch reporting, and fisheries intelligence services, among others. It was founded in 1986 and is currently headquartered in Toulouse, France.

Trackwell is a prominent software developing company which has a vast product portfolio including vessel monitoring systems, electronic reporting systems, electronic logbooks, and FLUX engines, among others. Some of the notable services of Trackwell include software with user friendly interface, and various tracking devices. Trackwell was established in 1996 and is based out of Gullbringusysla in Iceland.

Other market players include Visma, Pole Star Space Applications, and SRT Marine Systems plc, among others.

Key Highlights of the Report