North America Vessel Monitoring System Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Application (Fisheries Management, Surveillance, and Others) and Vessel Type (Fishing Vessels, Cargo Vessels, Service Vessels, Passenger Ships and Ferries, and Others)
Market Introduction
The vessel monitoring system (VMS) is a satellite-based monitoring system providing data to end-user (operators of fishing vessels, cargo vessels) related to location, speed, and course of vessels. The VMS is heavily used for fisheries management. This system also finds its application in service vessels, passenger ships, and ferries. The fisheries managers have begun using vessel monitoring system decades ago to track exact locations and monitor the fishing vessels activity to strengthen the effectiveness of fisheries management measures. The VMS gathers vessel positions with help from satellite signals and transmits data to the communication server, which is further communicated to the land-based station/room. By using VMS, the task of tracking vessel becomes easy and fast, and assist in preventing wrongdoing activities at sea hence driving the North America vessel monitoring system market. Factors like growing necessity for tracking due to unauthorized activities and rise in fisheries application is expected to create a significant demand for VMS in the coming years, which is further anticipated to drive the North America vessel monitoring system market.
Furthermore, in case of COVID-19, the US is the worst-hit country in North America, with millions of infected individuals facing severe health conditions across the country. The continuous growth in the number of infected individuals has led the government to impose lockdown across the nation’s borders. The majority of the manufacturing plants are either temporarily shut or operating with minimum staff; the supply chain of components and parts is disrupted; these are some of the critical issues faced by the North American countries. As a result, North America vessel monitoring system market has been affected badly. North America is one of the most important region for the adoption and growth of new technologies owing to favorable government policies to boost innovation, and high adoption of automation in various industries especially in developed countries such as the US and Canada. The coronavirus outbreak's impact is anticipated to be quite severe in the year 2020 and likely in 2021. Hence, the ongoing COVID-19 crisis and critical situation will impact the vessel monitoring system market growth of the North America region negatively for the next few quarters.
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Market Overview and Dynamics
The North America vessel monitoring system market is expected to grow from US$ 153.89 million in 2019 to US$ 413.18 million by 2027; it is estimated to grow at a CAGR of 13.5 % from 2020 to 2027. Integration with latest technologies is expected to surge the North America vessel monitoring system market. Advancements in automatic identification system (AIS)-based tools for vessel tracking are expected to deliver new capabilities related to on-demand and actionable business intelligence. The upcoming advancements in tools will give the waterway users real-time solutions to various critical business process optimization challenges associated with each mile-marker, berth, terminal, anchorage and buoy. Each terminal has unique set of mandates, and all the relevant ship characteristics need to be compared with the present terminal condition & restrictions. This industry is now moving to enterprise terminal management tools that help in streamlining the dock scheduling process while making it simpler to match the existing ship & cargo characteristics with the restrictions of terminal dock. As automatic identification system and other relevant asset tracking solutions become a crucial part of the incident response plans, the industry is projected to see a significant return on investment. Integration of latest technologies with VMS will not only provide streamline and optimized operations but will also provide some real time solutions to companies, which will drive the North America vessel monitoring system market.
Key Market Segments
In terms of application, the fisheries management segment accounted for the largest share of the North America vessel monitoring system market in 2019. In terms of vessel type, the fishing vessels segment held a larger market share of North America vessel monitoring system market in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the North America vessel monitoring system market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Applied Satellite Technology Ltd, CLS Fisheries, ORBCOMM Inc., Orolia Maritime, and Remora Costa Rica.
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- To understand the North America vessel monitoring system market landscape and identify market segments that are most likely to guarantee a strong return
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North America Vessel Monitoring System Market Segmentation
North America Vessel Monitoring System Market - By Application
- Fisheries Management
- Surveillance
- Others
North America Vessel Monitoring System Market - By Vessel Type
- Fishing Vessels
- Cargo Vessels
- Service Vessels
- Passenger Ships and Ferries
- Others
North America Vessel Monitoring System Market - By Country
- US
- Canada
- Mexico
North America Vessel Monitoring System Market - Company Profiles
- Applied Satellite Technology Ltd
- CLS Fisheries
- ORBCOMM Inc.
- Orolia Maritime
- Remora Costa Rica
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Vessel Monitoring System Market Landscape
4.1 Market Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America Vessel Monitoring System Market– Key Industry Dynamics
5.1 Market Drivers
5.1.1 Growing Necessity for Tracking due to Unauthorized Activities
5.1.2 Rising Fisheries Applications
5.2 Market Restraint
5.2.1 High Initial Cost
5.3 Market Opportunity
5.3.1 Rising opportunities for Cargo Tracking
5.4 Future Trend
5.4.1 Integration with Latest Technologies
5.5 Impact Analysis of Drivers and Restraints
6. Vessel Monitoring System Market– North America Analysis
6.1 North America Vessel Monitoring System Market Overview
6.2 North America Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning – Market Players Ranking
7. North America Vessel Monitoring System Market Revenue and Forecast to 2027 – By Application
7.1 Overview
7.2 North America Vessel Monitoring System Market Breakdown, By Application, 2019 & 2027
7.3 Fisheries Management
7.3.1 Overview
7.3.2 Fisheries Management Market Forecast and Analysis
7.4 Surveillance
7.4.1 Overview
7.4.2 Surveillance Market Forecast and Analysis
7.5 Others
7.5.1 Overview
7.5.2 Others Market Forecast and Analysis
8. North America Vessel Monitoring System Market Revenue and Forecast to 2027 – By Vessel Type
8.1 Overview
8.2 North America Vessel Monitoring System Market Breakdown, By Vessel Type, 2019 & 2027
8.3 Fishing Vessel
8.3.1 Overview
8.3.2 Fishing Vessel Market Forecast and Analysis
8.4 Cargo Vessel
8.4.1 Overview
8.4.2 Cargo Vessel Market Forecast and Analysis
8.5 Service Vessel
8.5.1 Overview
8.5.2 Service Vessel Market Forecast and Analysis
8.6 Passenger Ships & Ferries
8.6.1 Overview
8.6.2 Passenger Ships & Ferries Market Forecast and Analysis
8.7 Others
8.7.1 Overview
8.7.2 Others Market Forecast and Analysis
9. North America Vessel Monitoring System Market – Country Analysis
9.1 Overview
9.1.1 North America: Vessel Monitoring System Market, by Key Country
9.1.1.1 US: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.1.1 US: Vessel Monitoring System Market, by Vessel Type
9.1.1.1.2 US: Vessel Monitoring System Market, by Application
9.1.1.2 Canada: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.2.1 Canada: Vessel Monitoring System Market, by Vessel Type
9.1.1.2.2 Canada: Vessel Monitoring System Market, by Application
9.1.1.3 Mexico: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.3.1 Mexico: Vessel Monitoring System Market, by Vessel Type
9.1.1.3.2 Mexico: Vessel Monitoring System Market, by Application
10. Impact of COVID-19 Pandemic On North America Vessel Monitoring System Market
10.1 North America: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
12. Company Profiles
12.1 ORBCOMM Inc.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Applied Satellite Technology Ltd
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 CLS Fisheries
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Orolia Maritime
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Remora Costa Rica
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. North America Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Table 2. US: Vessel Monitoring System Market, by Vessel Type –Revenue and Forecast to 2027 (US$ Million)
Table 3. US: Vessel Monitoring System Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 4. Canada: Vessel Monitoring System Market, by Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 5. Canada: Vessel Monitoring System Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 6. Mexico: Vessel Monitoring System Market, by Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 7. Mexico: Vessel Monitoring System Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 8. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Vessel Monitoring System Market Segmentation
Figure 2. North America Vessel Monitoring System Market Segmentation – By Country
Figure 3. North America Vessel Monitoring System Market Overview
Figure 4. North America Vessel Monitoring System Market, by Country
Figure 5. North America Vessel Monitoring System Market, By Vessel Type
Figure 6. North America Vessel Monitoring System Market, By Application
Figure 7. North America: PEST Analysis
Figure 8. Ecosystem Analysis
Figure 9. Expert Opinion
Figure 10. North America Vessel Monitoring System Market: Impact Analysis of Drivers and Restraints
Figure 11. North America Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 12. North America Vessel Monitoring System Market Breakdown, By Application, 2019 & 2027 (%)
Figure 13. North America Fisheries Management Market Revenue and Forecast to 2027 (US$ Mn)
Figure 14. North America Surveillance Market Revenue and Forecast to 2027 (US$ Mn)
Figure 15. North America Others Market Revenue and Forecast to 2027 (US$ Mn)
Figure 16. North America Vessel Monitoring System Market Breakdown, By Vessel Type, 2019 & 2027 (%)
Figure 17. North America Fishing Vessel Market Revenue and Forecast to 2027 (US$ Mn)
Figure 18. North America Cargo Vessel Market Revenue and Forecast to 2027 (US$ Mn)
Figure 19. North America Service Vessel Market Revenue and Forecast to 2027 (US$ Mn)
Figure 20. North America Passenger Ships & Ferries Market Revenue and Forecast to 2027 (US$ Mn)
Figure 21. North America Others Market Revenue and Forecast to 2027 (US$ Mn)
Figure 22. North America: Vessel Monitoring System Market Revenue Share, by Key Country (2019 and 2027)
Figure 23. US: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. Canada: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. Mexico: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 26. Impact of COVID-19 Pandemic on North American Country Markets
- Applied Satellite Technology Ltd
- CLS Fisheries
- ORBCOMM Inc.
- Orolia Maritime
- Remora Costa Rica
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America vessel monitoring system market.
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- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the vessel monitoring system market, as well as those hindering it
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