Regional Outlook: Global Vessel Traffic Service – Emerging Markets in Developing Countries

Regional Outlook: Global Vessel Traffic Service – Emerging Markets in Developing Countries

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The Latest Research Report Vessel Traffic Service provides information on pricing, market analysis, shares, forecast, and company profiles for key industry participants. – MarketResearchReports.biz”

Vessel Traffic Service (VTS) is a type of modern marine time monitoring system developed using multiple sensors. Its objective is to enhance safety, improve the efficiency of maritime traffic, and protect the marine environment. Authorities using vessel traffic service have experienced improvement in sea traffic efficiency and safety and also a reduction in environmental pollution. Implementation of vessel traffic services provides an integrated operational traffic scenario in real-time that supports efficiency in traffic planning, improvement of navigation safety, protection of water environment, and security of port infrastructures. Vessel traffic services are implemented in the water and provide vessels with an access to information with the help of transmissions by airing it on very high frequency (VHF) radio. With constant growth in the volume of cargo vessels and number and size of merchant’s vessels, the role of vessel traffic services has recently become a matter of discussion.

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Key purpose of vessel traffic services is the improvement of maritime safety and proficiency of navigation, safety of life at the sea, and protection of the maritime environment and neighboring shore areas from the adverse effects of marine traffic. In addition, vessel traffic service also helps in traffic organization and navigational assistance. These factors are anticipated to support the growth of the vessel traffic service market during the forecast period.

The global vessel traffic service market can be segmented based on technology, product type, end-user industry, and geography. On the basis of technology, the market can be categorized into radars, Automatic Identification Systems (AIS), radio communications and voice integrator, meteo/hydro equipment, CCTV surveillance camera, Unmanned Aerial Vehicles (UAV), sensors, and others. Radars can be sub-segmented into x-band and s-band. The sensors segment can be further classified into multi-tracking sensors and meteorological sensors. The CCTV surveillance camera segment is expected to dominate the vessel traffic service market during the forecast period due to increasing demand for the camera in offshore platforms and ports. Based on product type, the vessel traffic service market can be divided into INS, NAS and Transport and Offshore Services (TOS) and others. On the basis of end-user industry, the vessel traffic service market can be segmented into commercial sector and defense sector. The commercial sector can further be classified into inland port, fishing port, offshore and port and harbor. The commercial segment is expected to dominate the vessel traffic service market during the forecast period owing to rise in sea trade and increase in commercial vessels in the offshore.

By geography, the global vessel traffic service market can be segmented into North America, South America, Asia Pacific, Europe, and Middle East & Africa. The vessel traffic service market in North America is anticipated to expand at a substantial growth rate during the forecast period. This is due to the large number of ports established in the region. Asia Pacific is expected to be a lucrative market for vessel traffic service during the forecast period due to port expansion and increase in the number of port developments projects. In addition, increase in transportation through sea and involvement of government in port and coastal security are some of the key factors driving the growth of the vessel traffic service market.

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Key players operating in the vessel traffic service market are focused on providing solutions according to requirements, such as, implementation of different technologies, upgrade, and expansion of existing systems. Major players compete with other players based on parameters, such as, price and quality of the products. The main vendors operating in the global vessel traffic service market include Thales Group, Leonardo, Kongsberg Gruppen, Transas, Indra Sistemas, Signalis, Japan Radio, Terma, and Vissim Tokyo Keiki.

MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.

The report provides the following information:

  • Tailwinds and headwinds molding the market’s trajectory
  • Market segments based on products, technology, and applications
  • Prospects of each segment
  • Overall current and possible future size of the market
  • Growth pace of the market
  • Competitive landscape and key players’ strategies

The main aim of the report is to:

  • Enable key stakeholder’s in the market bet right on it
  • Understand the opportunities and pitfalls awaiting them
  • Assess the overall growth scope in the near term
  • Strategize effectively with respect to production and distribution

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