Global Automatic Identification System Market Is Expected
Newark, NJ, June 02, 2021 (GLOBE NEWSWIRE) – According to the report published by Fior Markets, the global automatic identification systems market is expected to increase from $ 247 billion in 2020 and reach $ 390.7 million by 2028, with a CAGR of 6% over the forecast period 2021-2028.
The significant increase in the use of sea lanes for trade and travel has also raised concerns about the safety of sea lanes. The use of Class A, especially in large commercial vessels, to help plan vessel traffic management courses has resulted in the growth of the AIS market. Class B is also gaining popularity because it primarily supports lower RF transmissions and operates on the basis of simpler protocols. Shipping companies widely use fleet management solutions to manage their fleets efficiently and profitably, thus driving the growth of the AIS market.
The Automatic Identification System is a specialized automated tracking system used to prevent vessel collisions by vessel traffic management services. AIS continuously transmits the identity, speed and other relevant information of a vessel to the base station located along the coastlines. These systems are fully automated and therefore require no human intervention, which is one of the main reasons for its vast applications. These systems are unaffected by rain and can provide a longer wavelength, which facilitates improved monitoring of vessel movements, especially at night. With proper display to provide dynamic data, AIS can provide fast and accurate information, which will give an alert about the risk of collision.
The growth of the Automatic Identification System Market is primarily influenced by factors such as the development of Satellite Communication; The increase in world trade which has increased maritime traffic has led to the increasing adoption of AIS. The factors limiting the growth of the market are errors due to faulty equipment settings, which can lead to emergency and besides, some types of vessels such as fishing vessels cannot be fitted with AIS, and these factors pose a challenge for market growth. Despite all the restraining factors, the growing safety concerns regarding vessel monitoring are most likely a great opportunity for the future growth of the market.
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The major players operating in the automatic identification systems market are Japan Radio Co. Ltd. (Japan), Orbcomm Inc., Furuno Electric Co. Ltd., Exactearth Ltd., Kongsberg Inc., ORBCOMM (US), SAAB Transponder Tech AB, L-3 Communications Holdings Inc., Garmin International Inc., Honeywell International Inc. , Raytheon Ltd. and Thales Group.
Class A segment dominated the market and held the largest market share of 45% in 2020
The global automatic identification systems market is segmented into Class A, Class B, and AIS base stations on the basis of the class. The Class A segment dominated the market and held the largest market share of 45% in 2020. This growth is mainly due to the advantages offered by the Class A, such as the choice not to display base stations Class B AIS to avoid confusion due to too many vessels. This factor, along with mandatory regulations, has fueled the growth of this market.
The vessel-based platform dominated the market and held the largest market share of 67% in 2020
On the basis of the platform, the global automatic identification systems market is segmented into onshore and vessel. The vessel-based platform dominated the market and held the largest market share of 67% in 2020. This growth is mainly due to the growing demand for vessel traffic management, and vessel navigation monitoring. , especially in sensitive areas, has a significant impact on market growth.
The maritime security segment dominated the market and held the largest market share of 38% in 2020
On the basis of applications, the global automatic identification systems market is segmented into vessel tracking, maritime security, fleet management, and other applications. The maritime security segment dominated the market and held the largest market share of 38% in 2020. This growth is largely due to advancements in technology and growing government concerns about maritime security. The improvement of its security solutions has driven the growth of the market.
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Regional Segment of Automatic Identification System Market
- North America (United States, Canada, Mexico)
- Europe (Germany, France, United Kingdom, Italy, Spain, rest of Europe)
- Asia-Pacific (China, Japan, India, rest of APAC)
- South America (Brazil and rest of South America)
- Middle East and Africa (UAE, South Africa, rest of MEA)
On the basis of geography, the global automatic identification systems market is classified into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. North America dominated the market and held the largest market share of 42% in 2020. This growth is largely due to the freight business and extensive sea travel in the developed economies of Canada and the United States. on the implementation of advanced security solutions, which have contributed to the growth of the AIS market. The Asia-Pacific market is expected to experience a high growth rate mainly due to reliance on water transport for cross-border trade and avoiding security loopholes along maritime borders.
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About the report:
The Global Automatic Identification Systems Market is analyzed on the basis of its value (Million USD). All segments were analyzed on a global, regional and national basis. The study includes analysis of over 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges to gain critical insights into the market. The study includes the model of the five forces of the wearer, the attractiveness analysis, the analysis of raw materials and the analysis of the position grid of the competitors.
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