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Automatic Identification System Market: By Application ; By Class, And Region

Apr 02, 2023

Automatic identification system market: by application (fleet management, vessel tracking, maritime security, search and rescue, and other applications); by class (class a ais, class b ais, and ais base stations), and region – global analysis of market size, share & trends for 2021–2022 and forecasts to 2032.

New York, June 06, 2023 (GLOBE NEWSWIRE) -- announces the release of the report "Automatic Identification System Market: By Application ; By Class, And Region – Global Analysis of Market Size, Share & Trends For 2021–2022 And Forecasts To 2032" - PRODUCT OVERVIEW Automatic Identification System (AIS) refers to an automatic tracking system that uses transceivers on ships to trace the ships automatically preventing any type of collision. It is intended to provide two-way communication between various vessels and coastal authorities located on land. The technology may provide journey, dynamic, and static information on a particular ship to nearby coastal authorities as well as other nearby ships. Additionally, AIS equipment offers data that is presented on the screen, including unique identity, course, speed, and location. By enabling maritime authorities to detect and monitor vessel movements, this device is intended to help a ship's officer. MARKET HIGHLIGHTS The Automatic Identification System Market is expected to project a notable CAGR of 6.2% in 2032. Automatic Identification System Market is expected to surpass USD 521 million by 2032 from USD 258 million in 2021 at a CAGR of 6.2% in the coming years i.e., 2022-32. To improve the safety and security of ships, the government has established regulations that must be followed. In 2021, the International Maritime Organization (IMO) established a new standard requiring all ships to be equipped with AIS, which can automatically transmit data about the ship to other ships and to coastal regulators. All ships with a gross tonnage of 300 or more that are engaged in international journeys, all cargo ships with a gross tonnage of 500 or more that are not engaged in international voyages, and all passenger ships of any size are required to have AIS installed under the legislation. Thus, strict government regulation is anticipated to fuel the demand for automatic identification systems. AUTOMATIC IDENTIFICATION SYSTEM MARKET: SEGMENTS Class A AIS segment is expected to grow with a higher CAGR during 2022-32 Automatic Identification System Market is categorized on the basis of Class into Class A AIS, Class B AIS, and AIS Base Stations. In 2021, Class A AIS had the highest market share. This segment's dominating market share is thought to be a result of its widespread implementation of vessels of 300 gross tonnages by International Maritime Organization (IMO). Moreover, the cargo delivery services and rising international trade has proved to be important factor for growth of the industry. The Vessel Tracking segment is expected to grow with a higher CAGR during 2022-32 Automatic Identification System Market is categorized on the basis of Application into Fleet Management, Vessel Tracking, Maritime Security, Search and Rescue, and Other Applications. Vessel Tracking is expected to dominate in the forecast period. This application gives border control authority's improved control over maritime traffic. One of the main driving forces behind the industry over the projection period will be the increase in maritime traffic worldwide as a result of increased commercial activity. Two of the key factors influencing the adoption of AIS technology were maritime security and surveillance. The coast guard and navy pushed for increased visibility and effective security assistance since maritime traffic was regarded as a significant threat vector. As a result, revenue growth in the marine security market is expected to increase in the time to come. MARKET DYNAMICS Growth Drivers Rising International Seaborne Commerce Activities Stringent Government Policies Restraint Cyber Security Threats AUTOMATIC IDENTIFICATION SYSTEM MARKET: Key Players • Orbcomm Inc Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis • Furuno Electric Co. Ltd • Exactearth Ltd • Kongsberg Gruppen ASA • SAAB Transponder Tech AB • L-3 Communications Holdings Inc • Garmin International Inc • Honeywell International Inc • Raytheon Ltd. • CNS Systems AB • Other Prominent Players AUTOMATIC IDENTIFICATION SYSTEM MARKET REPORT ALSO CONTAINS ANALYSIS ON: Automatic Identification System Market Segments: • By Application o Fleet Management o Vessel Tracking o Maritime Security o Search and Rescue o Other Applications • By Class o Class A AIS o Class B AIS o AIS Base Stations • Automatic Identification System Market Dynamics • Automatic Identification System Market Size • Supply & Demand • Current Trends/Issues/Challenges • Competition & Companies Involved in the Market • Value Chain of the Market • Market Drivers and Restraints • Reasons to Purchase this Report • Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors • Provision of market value (USD Billion) data for each segment and sub-segment • Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market • Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region • Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled • Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players • The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions • Includes in-depth analysis of the market of various perspectives through Porter's five forces analysis • Provides insight into the market through Value Chain • Market dynamics scenario, along with growth opportunities of the market in the years to come • 3-month post-sales analyst support.Read the full report: ReportlinkerReportLinker is an award-winning market research solution. 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