Marine Automatic Identification System (AIS) Monitoring System Market Analysis By Industry Size, Share, Revenue Growth and Demand Forecast To 2028

The global marine AIS monitoring system market is anticipated to grow at a significant CAGR during the forecast period (2022-2028).

An automatic identification system (AIS) is a tracking system that automatically displays other vessels in the area. Marine AIS is the backbone of modern logistics, providing real-time tracking and analyzing data. Changes in trade laws and regulations, as well as the evolution of sea transportation, are the primary factors driving the growth of the market. AIS was initially installed on ships for the purpose of collision avoidance and safety, however, the technology's flexibility allowed for additional applications such as cost-effective navigation. The principal end-users of AIS equipment are oil firms and large maritime enterprises.

(Get 15% Discount on Buying this Report)
A full report of Global Marine Automatic Identification System (AIS) Monitoring System Market is available at: https://orionmarketreports.com/marine-automatic-identification-system-ais-monitoring-system-market/108755/

Marine AIS monitoring systems must be installed on international voyaging ships with a gross tonnage of 300 or more and passenger ships of any size, according to the International Maritime Organization's International Convention for the Safety of Life at Sea. The Malaysian Southern Region Marine Department issued Port Circular No. 02/2021 in February 2021, alerting the maritime community that all vessels approved to operate may be required to keep their AIS activated at all times.

In recent years, sea freight has seen a substantial increase all around the globe. On a global scale, significant investments are being made in the marine industry, resulting in the growing demand for AIS, particularly for marine monitoring. For instance, the UK government had developed a five-year plan (2019 - 2021) for maritime trade and investment that focuses on five key areas, including green maritime, digital technologies, autonomous vessels, marine science, maritime professionals, and business services. Additionally, in 2019, Myanmar announced the installation of AIS on its coastal and fishing vessels to maintain maritime security. AIS stations are anticipated to be erected at 19 jetties to control AIS and exchange navigation information, with an AIS range of 48-80 kilometers.

Furthermore, due to some innovative launches by the market players, the market growth is boosted. For instance, in August 2021, Tron AIS TR-8000 MkII, an upgraded AIS for the maritime industry, has been launched by Jotron. The AIS is designed for inland waterways and conforms with Bridge Alert Management (BAM) regulations. Blue flag information transmissions for safe navigation on European interior waterways have also been included in this system.

Among all applications, the fleet leasing and fleet management segment is propelling the market growth forward. Ships can connect with one another through the fleet management system, transmitting important information and updates. Companies such as Big Ocean Data are currently introducing features to their fleet management solutions including a 5-day weather forecast and risk-based routing. Such facts are expected to fuel the growth of this segment in the market.

Market Coverage
• The market number available for - 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Type
o By Application

• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World

• Competitive Landscape- Jotron, Oceaneering International, Inc., Spire Global, Siren Marine, LLC., and Seas of Solutions, among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Marine AIS monitoring system Market Report by Segment

By Type
• Onshore-Based
• Vessel-Based

By Application
• Fleet Leasing & Fleet Management
• Logistic Companies
• Others

Media Contact:

Company Name: Orion Market Reports
Contact Person: Mr. Anurag Tiwari
Email: info@orionmarketreports.com
Contact no: +91 780-304-0404

About Us:

Orion Market Reports (OMR) endeavors to provide an exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and the most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.

This release was published on openPR.