Maritime Real Time Positioning System Market is slated to Witness Tremendous Revenue Growth of US$ 1,395.6 million by 2027- The Insight Partners

According to our latest market study on "Maritime Real Time Positioning System Market Forecast to 2027 - COVID-19 Impact and Global Analysis - by Component (Hardware, Software, and Services), Technology (RFID, GPS, and Others), Application (Fleet Management, Inventory and Asset Management, and Crew Tracking), and Vessel Type (Fishing Vessels, Cargo Vessels, Service Vessels, Passenger Ships and Ferries, and Others)," the market was valued at US$ 158.2 million in 2019 and is projected to reach US$ 1,395.6 million by 2027; it is expected to grow at a CAGR of 31.8% from 2020 to 2027.

Maritime Real-Time Positioning System Market business research report assesses the current as well as upcoming performance of the market, also brand-new trends in the market. It provides product overview and highlights of product and application segments of the market including price, revenue, sales, sales growth rate, and market share by product. The market statistics within the report is displayed in a statistical format to offer a better understanding upon the market dynamics.

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Competitive Landscape: Maritime Real-Time Positioning System Market: DIMEQ AS, Envision Enterprise Solutions America Inc., Favendo GmbH, Intrasys (Pte.) Ltd., Martek Marine, MER Group, Orbcomm Inc., Shipcom Wireless Inc, Vector Infotech Pte Ltd., Zebra Technologies Corporation

The global maritime real time positioning system market with 36.81% revenue share, followed by Europe. The US, Canada, and Mexico are major economies contributing to the maritime real-time positioning system market in North America. Continuous technological advancements, led by notable investments by tech giants in R&D activities, have created a stir in the competitive market across the region. The constant technological developments in the last few years have notably enhanced tracking and monitoring of ships and other vessels.

"Maritime Real-Time Positioning System Market research report delivers a comprehensive study on production capacity, consumption, import and export for all major regions across the world. Report provides is a professional inclusive study on the current state for the market. Analysis and discussion of important industry like market trends, size, share, growth estimates are mentioned in the report."

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The developing satellite services have the task of tracking the ships worldwide and ensuring high-end safety of the ships from numerous threats. Using satellite-based monitoring systems, a large number of vessels are monitored efficiently by vessel owners and marine agencies for an extended period. Besides, an automatic identification system also assists in tracking giant vessels crossing waters globally by providing real-time information about vessels' movement. Marine-Traffic, VesselFinder, Vesseltracker, and FleetMon are some of the ship tracking applications developed to track and collect real-time information on maritime activities.
Impact of COVID-19 on Maritime Real Time Positioning System market

Coronavirus or COVID-19 outbreak first began in Wuhan, China, during December 2019, and since then, it has spread at a fast pace across the globe. The coronavirus outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global electronics &semiconductor industry is one of the primary sectors suffering severe disruptions, such as supply chain breaks, technology events cancellations, and office shutdowns. China is the global hub of manufacturing and the largest raw material supplier for various industries, and it is also one of the worst-affected countries. The lockdown of different plants and factories in China has affected the global supply chains and negatively impacted the manufacturing of various electronic goods.

The use of maritime real-time positioning systems is gaining high momentum across Europe. To enhance Maritime Situational Awareness, the use of maritime data fusion and tracking, automatic anomaly detection, and situation prediction is observed in Europe to ensure high-end marine security and safety-including irregular migration, border surveillance, and countering illegal activities at sea, such as unregulated fishing and smuggling. In terms of value, Europe is among the leading traders of fisheries & aquaculture products worldwide. The region is a net importer of fisheries & aquaculture products, majorly fresh, frozen, and chilled. Denmark, Sweden, Spain, and the Netherlands are the major countries in importing aforesaid fisheries.

Chapter Details of Maritime Real-Time Positioning System Market:
Part 01: Executive Summary
Part 02: Scope of The Report
Part 03: Maritime Real-Time Positioning System Market Landscape
Part 04: Maritime Real-Time Positioning System Market Sizing
Part 05: Maritime Real-Time Positioning System Market Segmentation by Product
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis

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