North America Vessel Monitoring System Market Report and Forecast 2024-2032

North America Vessel Monitoring System Market Outlook

The North America vessel monitoring system market size is estimated to grow at a CAGR of 13.9% between 2024 and 2032.

Key Takeaways:

• As per NOAA, the US VMS supports law enforcement, preventing violations through targeted patrols in high-risk zones, with over 4,000 vessels monitored 24/7.

• Sophisticated navigation techs like GPS and radar enhance vessel tracking, cut fuel use, and streamline routes. Robotics and big data analysis boost efficiency, thus, driving the North America vessel monitoring system market growth.

• In 2021, the Marine Economy Satellite Account, a collaboration of NOAA and the U.S. Bureau of Economic Analysis, noted a 7.4% increase in its GDP contribution.

As per the National Oceanic and Atmospheric Administration (NOAA), the vessel monitoring system (VMS) is primarily employed for satellite surveillance, focusing on tracking the movements and positions of commercial fishing vessels. This system relies on satellite-based communication facilitated by transceiver units installed on board-specific vessels, which are mandated to carry them. These transceiver units transmit periodic position reports containing details such as vessel identification, time, date, and location. Subsequently, this data is mapped and presented on the user's computer interface.

As per the North America vessel monitoring system market report, under normal circumstances, vessels transmit position reports at hourly intervals. However, the frequency of these transmissions may be adjusted as vessels approach environmentally sensitive areas, potentially increasing the intervals. In instances where a vessel's location prompts concerns or necessitates further examination, alerts can be dispatched to VMS technicians and relevant personnel to initiate additional inquiries or communication with the vessel operator.

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Key Trends and Developments

The North America vessel monitoring system market growth is driven by an increasing focus on curbing illegal marine activities, a growing marine economy, and government initiatives.

North America Vessel Monitoring System Market Trends

The integration of state-of-the-art technologies like artificial intelligence (AI) and machine learning (ML) into advanced ship monitoring software is increasing, with the aim to provide superior insights for research and development. This software extends beyond maritime use, seamlessly integrating with ground, airborne, or drone platforms.

As per the North America vessel monitoring system market analysis, it helps authorities identify vessels and detect illegal fishing activities, assisting in monitoring and tracking unauthorised vessels breaching national borders. With continuous technological progress, vessel monitoring software now includes features such as surface temperature monitoring, traffic management, satellite communication, and real-time weather forecasting.

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Market Segmentation

North America Vessel Monitoring System Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Based on vessel type, North America vessel monitoring system market share is led by fishing vessels

The increased prominence of the automatic identification system (AIS) as an independent tool for monitoring fishing activities is a major catalyst for this sector, offering improved efficiency and safety.

Moreover, the integration of vessel monitoring systems in passenger ships and ferries is on the rise, aimed at minimising collisions and enhancing passenger safety by providing better awareness of vessel positions, thereby stimulating segment expansion in the coming years.

The enhancement of the North America vessel monitoring system market is driven by its utilisation in fisheries management

A fishing vessel monitoring system is a fisheries surveillance program wherein equipment installed on fishing vessels offers details about their location and operations. It improves safety in navigation, operational effectiveness, transparency, and security within the maritime sector, aiding the vessel monitoring system market in North America.

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Competitive Landscape

Companies are constantly adapting to the changing activities in the marine sector and government initiatives and regulations to stay ahead in the market.

Other key players in the vessel monitoring system market in North America are OrbitMI, Inc., ROM Communications Inc., Market Spectrum, Inc., and Addvalue Technologies among others.

North America Vessel Monitoring System Market Analysis by Country

The vessel monitoring system market in the United States is thriving, driven by the surveillance of both fishing and commercial vessels. Further, the rise in fish and fish product consumption within the United States contributes to the North America vessel monitoring system market development.

U.S. ANNUAL PER-CAPITA CONSUMPTION OF FISH AND SHELLFISH, IN POUNDS, 2016-2020

Fisheries and Oceans Canada's National Vessel Monitoring System, which relies on satellite technology for near real-time positional tracking, is experiencing growth during the forecast period.

Key Highlights of the Report