Global
Vessel Traffic Services Market is valued approximately USD XXX billion in
2019 and is anticipated to grow with a healthy growth rate of more than XX %
over the forecast period 2019-2026. A vessel traffic service (VTS) is a marine
traffic monitoring system established by harbour or port authorities. The VTS
systems use automatic identification system, VHF radiotelephony radar and
closed-circuit television (CCTV) to keep track of vessel movements and provide
navigational safety in a limited geographical area. These services are
implemented by authority with an aim to improve the safety and efficiency of
vessel traffic and protect the environment. The services have the ability to
interact with the traffic and respond to traffic positions in the VTS area.
Application of vessel traffic services provides a unified operational traffic
scenario in real-time that supports efficiency in protection of water
environment, security of port infrastructures, improvement of navigation safety
and traffic planning. Vessel traffic services are instigated in the water and
equip vessels with an access to information with the help of transmissions by
airing it on very high frequency (VHF) radio. The upsurge in the vessel
movements specially through the exports and imports of merchandise across the
globe is expected to drive the market. As per the International Maritime
Organization, 90% of the global trade is carried by the maritime route. As per
US Bureau of Transport Statistics, Vessels moved 41.9% of the freight by value
and 70.7% of the freight by weight of the US International Trade in 2018.
Moreover, the advancement in the management services through the adoption of
IoT and big data further fuels the market growth. However, High Cost of the
installation impedes the growth of the market over the forecast period of
2020-2026.
The regional analysis of global Vessel Traffic
Services market is considered for the key regions such as Asia Pacific, North
America, Europe, Latin America and Rest of the World. North America is the
leading/significant region across the world in terms of market share owing to
the developed infrastructure and rapid adoption of the advanced technology.
Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR
over the forecast period 2020-2026. Factors such as rising vessel traffic in
the region owing to the increasing import and export activities would create
lucrative growth prospects for the Vessel Traffic Services market across
Asia-Pacific region.
Major market player included in this report
are:
Signalis
Indra Sistemas S.A.
Saab AB
Kongsberg Gruppen
Transas
Lockheed Martin Corporation
Vissim Tokyo Keiki
Frequentis AG
Vissim AS
SR Technologies
The objective of the study is to define market
sizes of different segments & countries in recent years and to forecast the
values to the coming eight years. The report is designed to incorporate both qualitative
and quantitative aspects of the industry within each of the regions and
countries involved in the study. Furthermore, the report also caters the
detailed information about the crucial aspects such as driving factors &
challenges which will define the future growth of the market. Additionally, the
report shall also incorporate available opportunities in micro markets for
stakeholders to invest along with the detailed analysis of competitive
landscape and product offerings of key players. The detailed segments and
sub-segment of the market are explained below:
By Type:
Information Service (INS) & Navigational
Assistance Service (NAS)
Traffic Organisation Service (TOS)
Others
By
Application:
Port Service
Coastal Service
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study
are as follows:
Historical year-2016, 2017, 2018
Base year-20198
Forecast period-2020 to 2026
Target Audience of the Global Vessel Traffic
Services Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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Ken Research
Ankur Gupta, Head Marketing &
Communications
+91-9015378249