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Automatic Identification System Market worth $225.05 Million by 2020
According to a new market research "Automatic Identification System Market by Class (Class A, Class B, & AIS Base Stations), Platform (Vessel-Based, and Onshore-Based), Application (Fleet Management, Vessels Tracking, Maritime Security, Other Applications), and Geography - Global Forecasts & Analysis (2014-2020)", The global market for AIS is estimated to reach $225.05 million by 2020, registering a CAGR of 4.33%. Asia-Pacific is expected to register a higher CAGR, led by India
Browse 107 market data tables and 45 figures spread through 160 pages and in-depth TOC on “Automatic Identification System Market - Global Forecasts & Analysis (2014-2020)"
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Evolution of marine transport and fundamental changes in international trade has had a direct impact on the development of new technologies needed to manage the growing marine traffic. Globalization is considered to be the most important factor that has built and expanded the marine transport industry to what it is today.
Increasing world trade and growing marine traffic are considered as the major factors leading to the transformation of marine transport. Over the last few years, the use of the AIS has witnessed a drastic increase. The concerned authorities made significant investments to integrate the system into ships, which helped in reducing marine accidents and enhancing marine traffic management.
The global market for AIS has been bifurcated on the basis of platforms (vessel-based and onshore-based), on the basis of Classes (Class A, Class B, and AIS Base Stations), on the basis of applications (fleet management, vessels tracking, maritime security, and other applications) and by geography, including major region and countries.
The total market for AIS in this specific region is projected to have a larger share compared to other regions. It is reported that large-scale terrestrial AIS development program, implemented by the concerned authorities in this specific region, is the major factor that will drive the demand of automatic identification systems, further fuelling the growth of the market.
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