Vessel Traffic Management Market

Vessel Traffic Management Industry worth $8.7 billion by 2027

According to a research report "Vessel Traffic Management Market by End User (Commercial, Defense), Component (Equipment, Solution, Service), Investment (Brownfield, Greenfield), System, Onboard Components (Equipment, Solution), and Region - Global Forecast to 2027" published by MarketsandMarkets, 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. Vessel traffic services (VTS) are shore-based systems that range from simple information messages to ships, such as the location of other traffic or weather-related hazard alerts, to comprehensive traffic control inside a port or canal. Ships entering a VTS region are required to report to the authorities by radio and may be traced by the VTS control center. Ships must listen for navigational or other warnings on a designated frequency, and they may be called directly by the VTS operator if there is a danger of an incident or, in regions where traffic flow is limited, for guidance on whether to continue.

Browse 240 market data Tables and 49 Figures spread through 214 Pages and in-depth TOC on "Vessel Traffic Management Market by End User (Commercial, Defense), Component (Equipment, Solution, Service), Investment (Brownfield, Greenfield), System, Onboard Components (Equipment, Solution), and Region - Global Forecast to 2027"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/vessel-traffic-management-market-226816165.html

The Service Segment is estimated to lead the vessel traffic management market in 2022

Based on Component, the Service segment of the vessel traffic management market is accounted for the largest share during the forecast period. It is vital for VTM system to work efficiently to provide critical decision-making capabilities to the operator and captain. For this, periodic or yearly upkeep of the equipment and solution need to be conducted.

The Port Management Information System segment is expected to grow at the highest CAGR during the forecast period

Based on system, the port management information system segment accounted for a share of 32% of the vessel traffic management market in 2022. The need for advanced and smart ports and supporting solution is driving the VTS market.

The Asia Pacific region has accounted for the largest market share in 2022 as well has witnessed highest CAGR growth during the forecast period.

The Asia Pacfic region accounted for the largest market share of 34.14% in the year 2022 as well as witnessed the highest CAGR growth of 10.7%. The presence of major trading countries like China, India, and Singapore to drive the market growth in this region.

Key players operating in the vessel traffic management market include Kongsberg Gruppen (Norway), Saab SA (Sweden), Leonardo S.p.A. (Italy), Wartsila (Finland), Thales Group (France), among other solution, service and equipment providers. These players offer comprehensive solution to key stakeholders in the market.

Don’t miss out on business opportunities in Vessel Traffic Management Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Vessel Traffic Management Market Size,  Share & Growth Report
Report Code
AS 6043
PR Published ON
5/12/2022
Choose License Type
BUY NOW
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Vessel Traffic Management Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
CUSTOMIZED WORKSHOP REQUEST
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2024 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status
...

Digital Virtual Assistant - MarketsandMarkets

Home