Press release
Vessel Traffic Management Market Set to Grow at the Fastest Rate- Time to Grow your Revenue
The Vessel Traffic Management Market report provides an analysis of the market from 2022 to 2027. It discusses the industry and technology trends that are currently prevailing in the Vessel Traffic Management Market, along with the drivers, restraints, challenges, and opportunities. The Vessel Traffic Management Market is projected to grow from USD 5.8 billion in 2022 to USD 8.7 billion by 2027, at a CAGR of 8.4% during the forecast period. Major port expansion and modernization programs are key factors contributing to the growth of the market across regions.Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=226816165
Based on End User, the Commercial Sector of the vessel traffic management market is accounted for the largest share during the forecast period. Many countries are investing in building and expanding new and existing commercial ports to increase their strategic and geo-political position across regions. This one of the key factors for the market growth.
Based on investment, Brownfield investment is expected to lead the market in the forecast period. Many countries especially in the Asia Pacific Region, Middle East and Africa are going major port expansion and modernization program. This is to meet the rising trade activities across these regions.
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Asia Pacific Region is home to Countries like China, India, Australia and Japan among other countries that have a large volume in trade. China is a major exporter and importer of many essential and industrial goods. These factors drive the need for major port activities across regions. These a major factor for higher CAGR growth in the region.
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