Study papers on Vessel Traffic Management market and regional forecast. Vessel Traffic Management market players are Kongsberg (Norway), L3 Communication (US), Transas (Ireland), Saab AB (Sweden), Thales (France), Rolta India (India), Japan Radio Co. Ltd. (Japan), Frequentis (Austria), TERMA (Denmark), Tokyo Keiki Inc. (Japan), Indra (Spain), Leonardo Finmeccanica(Italy), and Kelvin Hughes (UK).
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Vessel traffic management market is estimated at USD 2.87 billion in 2018 and is projected to reach USD 4.12 billion by 2022, at a CAGR of 7.50% from 2017 to 2022. Increasing demand for the implementation of technologies, such as Global Navigation Surveillance Systems (GNSS), e-navigation, cloud computing, Internet of Things (IoT) in busy commercial ports is one of the key factors driving the vessel traffic management market.
High cost of the Vessel Traffic Management (VTM) equipment and installment is a factor restraining the exponential growth of the VTM market.
- Vessel Traffic Management (VTM) Systems Manufacturers
- Technology Providers
- System Integrators
- Vessel Traffic Management (VTM) Simulation Service Providers
- Service Providers
- Solution Providers
- Equipment Providers
- Port Authorities
Asia Pacific is estimated to lead the vessel traffic management market in 2018, which can be attributed to increasing port expansions, construction of new ports, and rise in government involvement towards coastal & port security.
Moreover, high investments for the development of inland waterways to promote the interconnected mode of transport are projected to lead the vessel traffic management market.
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Based on component, the equipment segment is estimated to lead the vessel traffic management market in 2017.The growth of this segment can be attributed to the increase in demand for AIS, base stations& receivers, VHF communication systems, CCTV surveillance cameras, and radars.
Based on systems, the port management & information systems segment is estimated to lead the vessel traffic management market in 2018. The high demand for port management information systems is leading to an increasing focus of vessel traffic management system manufacturers towards providing e-navigation, multi-sensor trackers, and routing monitor sensor integrators to existing ports equipped with VTM equipment.
2 Market Share Analysis: 2016
3 Competitive Scenario
3.1 New Product Launches
3.3 Partnerships, Agreements, and Collaborations
3.4 Expansions & Acquisitions
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The report analyzes the vessel traffic management market on the basis of component, (equipment, solutions, and service). Equipment is further segmented into communication (VHF communication, RF communication, microwave & network, HMI, servers), navigation (radars, AIS, direction finders), and surveillance & monitoring (sensors, CCTV surveillance cameras, UAVs).
Similarly, the solution segment is further segmented into sensor integrator, routing monitor, e-navigation, multi sensor tracker). Similarly, the service segment is further segmented into maintenance and operating service (information, traffic organization, navigation advice and assistance).
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