Automatic Identification System Market Size, Share,Industry, Forecast and outlook (2024-2031)

The automatic identification system can provide dynamic, static and journey data on a single ship to many ships in the area as well as neighboring coastal authorities. For example, a 2002 amendment to the Diplomatic Conference on Maritime Security requires ships weighing 300 to 50,000 tons to have automatic identification systems.Major modifications to international trade laws and regulations and also the evolution of marine transport, have all had an impact on the development of technology required to deal with rising marine traffic. The International Maritime Organization modified the need to carry navigational equipment and mandated that all ships have automated identifying systems in 2000.During the forecast period, Asia-Pacific is the fastest growing regions in the global automatic identification system market about 1/4th of the market. Rising government rules for AIS deployment in the region are driving market expansion.

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Market Dynamics

The government has made necessary regulations for the implementation of AIS to improve ship safety and security. In recent years, sea freight has grown significantly over the world. Globally, significant investments are being made in the marine industry, which has resulted in an increase in demand for AIS, particularly for vessel tracking. Strict government regulation is expected to drive the growth of the market for automatic identification systems.For example, UK developed a Five-Year Maritime Trade and Investment Plan that focused on five major areas: Green Maritime, Digital Technologies, Autonomous Vessels, Marine Science, Maritime Professional and Business Services. Myanmar also declared the implementation of AIS on its coastal and fishing vessels to improve maritime security. AIS stations are anticipated to be erected at 19 jetties to control AIS and share navigation information, with an AIS range of 48-80 km.

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Segment Analysis

Fleet management are expected to cover a share of around 40.1% of the global market during the forecast period 2023-2030. Ships can communicate with one another via the fleet management system, transmitting vital information and updates. The arrival and departure of ships in preset zones can be planned by the operators. The is especially important while travelling through busy ports and pre-defined zones where they must book slots that are only available for a short time. Shipping companies must pay for these slots and they may have to pay much more if they do not arrive on time.Companies like Big Ocean Data are enhancing their fleet management solutions with features like a 5-day weather forecast and risk-based routing. As the European Union (EU) plans the forthcoming EU monitoring, reporting and verification (MRV) legislation to monitor emissions, fleet management solutions will be crucial for ships operating in the EU in the future. The fleet management system may decrease the amount of time and effort needed to track speed, fuel consumption, pollution and job statistics.

Competitive Landscape

The major global players in the market include Orbcomm Inc, Furuno Electric Co. Ltd, Exactearth Ltd, Kongsberg Gruppen ASA, SAAB Transponder Tech AB, L-3 Communications Holdings Inc., Garmin International Inc, Honeywell International Inc, Raytheon Ltd. and CNS Systems AB.

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