Press release
Automatic Identification System Market To Witness the Highest Growth Globally in Coming Years 2021-2025| Saab AB, Furuno Electric Co. Ltd, ExactEarth Ltd
The Automatic Identification System Market research report added by MarketInsightsReports is an in-depth analysis of the latest trends, market size, status, upcoming technologies, industry drivers, challenges, regulatory policies, with key company profiles and strategies of players. The research study provides market introduction, Automatic Identification System Market definition, regional market scope, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Automatic Identification System Market size forecast, 100+ market data, Tables, Pie Chart, Graphs and Figures, and many more for business intelligence. This research report also provides post COVID-19 impact analysis of the Automatic Identification System industry.The automatic identification system market was valued at USD 244.36 million in 2019 and is expected to reach USD 331.06 million by 2025, at a CAGR of 5.6% during the forecast period from 2020 to 2025.
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Top Companies in the Global Automatic Identification System Market: –
Saab AB, Furuno Electric Co. Ltd, ExactEarth Ltd, Orbcomm Inc., Garmin Ltd, Kongsberg Gruppen ASA, True Heading AB, Japan Radio Company Ltd., C.N.S. Systems AB, Wartsila OYJ Abp, ComNav Marine Ltd, L3 Technologies Inc.
Regional Analysis:
Furthermore, to broaden the understanding, researchers have studied the global Automatic Identification System market from a geographical point of view, considering the potential regions and countries. The regional analysis will assist the market players in making sound decisions regarding their future investments.
Automatic Identification System Market report includes the following geographic areas such as North America, Europe, China, Japan, Southeast Asia, India and ROW.
Industry news and Development:
April 2020 - Saab AB delivered the first GlobalEye Swing Role Surveillance System aircraft to the United Arab Emirates. The GlobalEye aircraft also comes with comprehensive features such as Star SAFIRE 380-HD round-the-clock electronic surveillance system, Leonardo Seaspray 7500E marine target radar coupled with AFAR in the ventral fairing, HES-21 radio and electronic reconnaissance system, airborne defense complex, and AIS automatic defense identification system.
- In December 2019 - exactEarth Ltd., it had announced the renewal of its contract with Antrix Corporation Ltd., the commercial arm of the Indian Space Research Organization (ISRO), to provide satellite-AIS data services to the Indian Navy. The two-year subscription revenue contract is estimated to be valued at USD 1.2 million in total. exactEarth will provide live and archived data from exactView RT which is the company's second-generation real-time satellite-AIS data service.
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Key Market Trends
Fleet Management is Expected to Hold Significant Share
- The increase in global trade and oil demand is the reason for large global fleets. Currently, shipping operators and oil companies operate a large number of fleets. According to data published by Alphaliner for the top 100 shipping companies, only one shipping company operated less than five ships in its fleet. Companies, like Maersk, MSC Mediterranean Shipping Company, COSCO Group, and CMA CGM Group, had more than 500 ships in their fleet, as of March 2019. However, with the growing number of ships, it has become difficult for shipping companies to manage and analyze these large fleets, as the reporting requirement and emission standards are continuously evolving around the world.
- Shipping companies are now using fleet management solutions available in the market to run their fleet more efficiently and profitably. For instance, India-based company Orion Marine Concepts launched its fleet management application called NAU Fleet Performance in February 2019. One of its prominent features is the integration of vessel reported data and AIS data overlay. With the help of the fleet management solution, shipping companies can control their fleet in real-time, due to which ships can navigate any unforeseen climate situation. The fleet managers are now able to trigger alarms with no lead-times, due to which the crew on the vessel can make timely decisions.
North America is Expected to Hold Significant Share
- The North American region accounts for the largest market share in the automatic identification system market. The region has a large coastal area that requires continuous monitoring. The increasing commercial activities and trade in the region are propelling the need for maritime safety and surveillance. Also, many AIS solution providers are based in this region; hence the region dominates the market. The key benefits, like better navigation, maritime traffic management, enhanced coastal surveillance for security, improvement in monitoring the movements of other vehicles, and prevention from collisions, are several factors driving the growth in the adoption of AIS in the region.
- Furthermore, there are many investments made by the government to ensure maritime safety. For instance, in March 2019, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) updated the advisory document involving the risks for parties with regards to petroleum shipments to Syria. The update adds to the list of deceptive shipping practices used, like disabling the automatic identification system (AIS); to mask the destination of the cargo destined for the government of Syria. These practices are done to complicate the clarity on the destination of petroleum bound for Syria.
Following are major Table of Content of Automatic Identification System Industry:
Automatic Identification System Market Sales Overview.
Automatic Identification System Market Sales Competition by Manufacturers.
Automatic Identification System Market Sales Analysis by Region.
Automatic Identification System Market Sales Analysis by Type.
Automatic Identification System Market Analysis by Application.
Automatic Identification System Market -Manufacturers Analysis.
Reasons to Invest:
Market Size Forecasts: The authors of the report have provided accurate estimation of the global Automatic Identification System market size based on value and volume
Market Trend Analysis: This section of the report throws light on the approaching trends and developments in the global Automatic Identification System market
Future Prospects: The report here offers crucial information on the rewarding opportunities in the global Automatic Identification System market
Automatic Identification System market report allows an understanding of the market and benefits from any lucrative opportunities that are available. Researchers have offered a comprehensive study of the existing market scenario while concentrating on the new business objectives. There is a detailed analysis of the change in customer requirements, customer preferences and the vendor landscape of the overall market.
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Irfan Tamboli (Head of Sales) – Market Insights Reports
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About Us:
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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