Automatic Identification System Market 2021 by Technology Advancements and Growth Analysis- , L3 Technologies Inc, exactEarth Limited, Orbcomm Inc

The Automatic Identification System Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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 (2020-2025). 

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Competitive Landscape:

Top Companies: Saab AB, Furuno Electric Co. Ltd, exactEarth Limited, Orbcomm Inc., Garmin Ltd, Kongsberg Gruppen ASA, True Heading AB, Japan Radio Company Ltd., C.N.S. Systems AB, Transas Marine Limited, ComNav Marine Ltd, L3 Technologies Inc.

Market Scope:

Automatic identification system (AIS) is an automated tracking system that displays other vessels in the vicinity and uses transponders on ships and is used by vessel traffic services (VTS). 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.

Industry News and Updates:

- February 2019 Garmin will acquire the Dutch smart training company called Tacx to expand its reach into the indoor training market. This offers a ride simulation feature, including racing against other users online in one of six virtual worlds and the ability to prepare for a competition by importing GPS data in advance of the race route.
- October 2018 - The government of Canada planned to invest USD 7.2 Million in exactEarth for over three years to support the development, management, and expansion of exactView RT, the company's real-time satellite-AIS service. This will further improve and enhance the exactView RT platform with the introduction of new real-time data services, analytics, and applications.

Key Market Trends:

Vessel Based Platform to Account for Significant Share
- The expansion of the maritime industry is considerably increasing marine traffic. To ensure the smooth facilitation of trades and other services, it is essential for all the ships and vessels on the water to maintain proper maritime communication. Vessel-based AIS allows users to track marine traffic in real time, thereby reducing the risk of collisions during transits.
- Due to the increasing number of voyaging ships, the concern toward the safety of the people and goods in the vessel are more and this has enabled the adoption of the market.
- The increasing government regulations across several countries in favor of the installation of AIS system in vessels is a crucial factor influencing the growth of vessel-based AIS platform.

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What are the market influences that are explained in the report?

-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

-Analytical Tools: The Global Automatic Identification System Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

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