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Vessel Traffic Management Market by Component, Investment, Systems, End User, Component, Region - Global Forecast to 2023

Vessel Traffic Management Market: Global Forecast until 2023

  • February 2018
  • 250 pages
  • ID: 5353235
In this report:
The equipment segment is expected to lead the market at USD ##.## million in 2018, and the service segment is projected to grow at a CAGR of ##.## % over the forecast period.
The solution and service segments of the VTM market are expected to grow at CAGRs of ##.##% and ##.##% respectively from 2018 to 2023.

Summary

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Growing demand for maritime situational awareness and safety are factors driving the vessel traffic management market

The vessel traffic management market is projected at ~$2.9B in 2018 and is projected to extend ~$4.1B by 2022, at a compound annual growth rate of ~7.5 percent between 2017 and 2022. Growing demand for the implementation of technologies, including Global Navigation Surveillance Systems, e-navigation, cloud computing, Internet of Things in busy commercial ports is one of the main factors driving the vessel traffic management market.

High cost of the Vessel Traffic Management equipment and installment is a factor restraining the exponential rise of the VTM market

Established on component, the equipment segment is estimated to result the vessel traffic management market in 2018

Established on component, the equipment segment is estimated to result the vessel traffic management market in 2017. The increase of this segment can be connected to the growth in demand for AIS, base stations & receivers, VHF communication systems, CCTV surveillance cameras, and radars

Established on investment, the brownfield segment is expected to lead the vessel traffic management market during the outlook period

Established on investment, the brownfield segment of the vessel traffic management market is forecasted to lead the vessel traffic management market during the estimate period. Rise of this segment is influenced by factors, including port saturation, need for river information systems, and security on offshore platforms

Established on systems, the port management information systems segment is estimated to result the vessel traffic management market in 2017

Established on systems, the port management & information systems segment is estimated to result the vessel traffic management market in 2018.

The large demand for port management information systems is leading to an rising focus of vessel traffic management system manufacturers towards providing e-navigation, multi-sensor trackers, and routing monitor sensor integrators to existing ports equipped with VTM equipment

Established on end-user, the commercial traffic management segment is projected to dominate the vessel traffic management market from 2018 to 2023

Established on final user, the commercial vessel traffic management segment is forecasted to dominate the vessel traffic management market from 2018 to 2023. This increase can be accredited to the growing vessel traffic, illegal immigration, terrorist activities, and saturation at ports

Asia-Pac (APAC) is estimated to result the vessel traffic management market in 2018, and is expected to grow at the highest compound annual growth rate (CAGR) during the outlook period

APAC is estimated to result the vessel traffic management market in 2018, which can be attributed to rising port expansions, construction of new ports, and increase in government involvement towards coastal & port security. Furthermore, high investments for the development of inland waterways to foster the interconnected mode of transport are forecasted to lead the vessel traffic management market.

Distribution of profile of primary members taking part in the vessel traffic management market:

• By Company category: Tier 1 - 20.0 percent, Tier 2 - 55.0 percent, and Tier 3 - 25.0 percent

• By Description: C Level Executives- 50.0 percent, Directors - 25.0 percent, and Others - 25.0 percent

• By Area: North America (NA) - 45.0 percent, EU - 20.0 percent, Asia-Pac - 20.0 percent, Latin America area - 5.0 percent, and Middle East area & African continent - 10.0 percent

Main firms across the globe providing vessel traffic management equipment are Kongsberg, L3 Communication, Transas, Saab (STO:SAAB-B), Thales, Rolta India, Japan Radio Co. Ltd.

, Frequentis, TERMA, Tokyo Keiki Inc., Indra, Leonardo Finmeccanica, and Kelvin Hughes.

Segment Research

The study examines the vessel traffic management market based on component, (equipment, solutions, and service). Equipment is further broken down into communication (VHF communication, RF communication, microwave & network, HMI, servers), navigation (radars, AIS, direction finders), and surveillance & monitoring (sensors, CCTV surveillance cameras, UAVs).

Equivalently, the solution segment is further split into sensor integrator, routing monitor, e-navigation, multi sensor tracker). Equivalently, the service segment is further divided into maintenance and operating service (info, traffic organization, navigation advice and assistance).

The vessel traffic management market by investment is broken down into brownfield and greenfield. Brownfield and greenfield are further split into public market and private sector projects.

By systems is divided into port management, and information systems, overall maritime distress safety systems, river information systems, and AtoN management & health monitoring systems. By end-user is broken down into commercial (inland port, port & harbor, fishing port, and offshore) and defense markets. These segments and sub-segments have been mapped across main regions, that is, North America continent, Europe (EU), Asia Pacific (APAC), Middle East (ME), African continent, and Latin America area.

Why acquiring this study can help you:

From an insight prospect, this market research has emphasized different levels of analyses -industry study, market share research of top players, competitive leadership and company descriptions, which together comprise and examine basic views on the competitive landscape, coming out and the high-development segments in the vessel traffic management market, high-growth areas, and sector drivers, opportunities, and alternatives.

This study furnishes highlights on the following points:

• Market Uptake: Exhaustive data on vessel traffic management provided by the top actors in the sector

• Product Development/Innovative products: In-depth understanding on up-on-coming technologies, analysis & growth activities, and recent product launches in the vessel traffic management market

• Market Development: Highlighted information about lucrative sectors - the market research examines the vessel traffic management market across different regions

• industry diversification: Complete information about recent products, untapped areas, recent evolutions, and market investments in the vessel traffic management market

• opposing assessment: Detailed assessment of market shares, increase strategies, products, and manufacturing competences of key players in the vessel traffic management market

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