Global Automatic Identification System Market will multiply at an impressive CAGR of 4.8% by 2027 & Top Key Players Honeywell International Inc., Orbcomm Inc., Furuno Electric Co. Ltd., Garmin International Inc., Kongsberg Maritime, SAAB Transponder Tech

The Global Automatic Identification System refers to an automatic tracking technology which provides the information about the traffic of the marines. Automatic identification system helps in better traffic management and prevention of possible maritime collision. It has been observed that automatic identification systems are mainly used for providing safety to the vessels.
Global automatic identification system market is expected to flourish at a CAGR of 4.8% during the forecast period. Further, the market of automatic identification system is expected to garner USD 272 Million by the end of 2024. In recent years, marine industry has witnessed huge growth all over the globe. Increasing demand for better maritime traffic management and advancement in marine transportation is expected to drive the growth of the global automatic identification system market.

In the terms of regional platform, North America dominated the overall automatic identification system market in 2016. Further, North America region is expected to continue its dominance over the forecast period. This can be attributed to the high maritime security in the region. Further, rising government participation in the adoption of automatic identification system is expected to foster the growth of the automatic identification system market. In North America region, U.S. accounted for the largest market share of automatic identification system market. Additionally, rising adoption of automatic identification system by the U.S. Coast Guard is anticipated to garner the growth of the market in the nation. Further, Canada is also expected to contribute significantly to the growth of automatic system identification market due to the stringent government rules and regulations. Further, Canadian government has made it mandatory to install automatic identification system in the vessels. This factor is expected to fuel the growth of automatic identification system in the nation.

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Stringent Rules & Regulations
Strict rules and regulations regarding the implementation of automatic identification system are rapidly increasing the market size of the global automatic identification system market. As per the U.S. Code of federal regulations, AIS requirement is must for the fleet destined or departing from the port of U.S. Similarly, International Convention for the Safety of Life at Sea (SOLAS) convention of International Maritime Organization mandated the carriage of automatic ship identification system in fleets.

The report titled “Global Automatic Identification System Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global automatic identification system market in terms of market segmentation by platform, by class and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

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This report also provides the existing competitive scenario of some of the key players of the global automatic identification system market which includes company profiling of Honeywell International Inc., Orbcomm Inc., Furuno Electric Co. Ltd., Garmin International Inc., Kongsberg Maritime, SAAB Transponder Tech AB, L-3 Communications Holdings Inc., Raytheon Ltd., Exactearth Ltd. and Thales Group. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Global automatic identification system market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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