South 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 system 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 VMS 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 this system, the task of tracking vessel becomes easy and fast, and assist in preventing wrongdoing activities at sea. Factor, such as increasing demand of VMS in fisheries and cargo vessel sectors to have an eye on trade to curb unauthorized dealings will affect the vessel monitoring system market in SAM. Also, other factor such as upswing in fisheries applications is expected to create a significant demand for VMS in the coming years, which is further anticipated to drive the SAM vessel monitoring system market.
Furthermore, in case of COVID-19, Brazil has the highest number of COVID-19 cases, followed by Peru, Chile, Colombia, and Ecuador, among others in SAM region. The government of SAM has taken an array of actions to protect their citizens and contain COVID-19’s spread. The COVID-19 outbreak has majorly caused Brazil’s vessel monitoring system market disruption in 2020. Currently, Brazil holds for the 2nd rank in terms of confirmed cases in the global COVID-19 infected countries. The country produces 1.3 million tons of fish annually, with 700,000 tons by capturing fisheries &600,000 tons from the aquaculture fisheries, as per the United Nations’ Food and Agriculture Organization. However, due to covid-19, the fisheries sector has affected negatively and therefore, the fish processors of Brazil are asking government for subsidized credit, tax breaks, and emergency loan guarantees. Low fisheries business due to COVID-19 will create a negative impact on vessel monitoring system market for SAM region.
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Market Overview and Dynamics
The SAM vessel monitoring system market is expected to grow from US$ 21.43 million in 2019 to US$ 39.28 million by 2027; it is estimated to grow at a CAGR of 8.3 % from 2020 to 2027. Surge in cargo monitoring opportunities is expected to escalate the SAM vessel monitoring system market. An increasing seaborne trade across the SAM results in the rising investment in safety and security system which boosts the growth of the SAM vessel monitoring system market. Further, advancements in repair, restoration and upgrade of vessels is projected to fuel the growth for SAM vessel monitoring system market. Additionally, increase in trade activities backed retrofitting of old system with new advanced VMS to optimize and streamline the operations are among other factors forecasted to create growth opportunities for VMS market players in SAM. Advancements including near real-time tracking provides a brief analysis of the fleet, including risks, security threats, and various regulatory territories. So, factors like technological advancement, upgradations, safety and security, increase in trading, tracking etc. are expected to create opportunities for cargo monitoring, which will ultimately drive the vessel monitoring system market in SAM.
Key Market Segments
In terms of application, the fisheries management segment accounted for the largest share of the SAM vessel monitoring system market in 2019. In terms of vessel type, the fishing vessels segment held a larger market share of SAM 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 SAM 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, Orolia Maritime, Remora Costa Rica, and Visma.
Reasons to buy report
- To understand the SAM vessel monitoring system market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for SAM vessel monitoring system market
- Efficiently plan M&A and partnership deals in SAM vessel monitoring system market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form SAM vessel monitoring system market
- Obtain market revenue forecast for vessel monitoring system market by various segments from 2020-2027 in SAM region.
SAM Vessel Monitoring System Market Segmentation
SAM Vessel Monitoring System Market - By Application
- Fisheries Management
- Surveillance
- Others
SAM Vessel Monitoring System Market - By Vessel Type
- Fishing Vessels
- Cargo Vessels
- Service Vessels
- Passenger Ships and Ferries
- Others
SAM Vessel Monitoring System Market - By Country
- Brazil
- Argentina
- Rest of SAM
SAM Vessel Monitoring System Market - Company Profiles
- Applied Satellite Technology Ltd
- CLS Fisheries
- Orolia Maritime
- Remora Costa Rica
- Visma
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. SAM Vessel Monitoring System Market Landscape
4.1 Market Overview
4.2 SAM PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. SAM Vessel Monitoring System Market– Key Industry Dynamics
5.1 Market Drivers
5.1.1 Increase in Need for Monitoring due to Illegal Activities
5.1.2 Upswing in Fisheries Applications
5.2 Market Restraint
5.2.1 High Set up Cost
5.3 Market Opportunity
5.3.1 Surge in Cargo Monitoring Opportunities
5.4 Future Trend
5.4.1 Collaboration with Modern Technologies
5.5 Impact Analysis of Drivers and Restraints
6. Vessel Monitoring System Market– SAM Analysis
6.1 SAM Vessel Monitoring System Market Overview
6.2 SAM Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning – Market Players Ranking
7. SAM Vessel Monitoring System Market Revenue and Forecast to 2027 –By Application
7.1 Overview
7.2 SAM 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. SAM Vessel Monitoring System Market Revenue and Forecast to 2027 – By Vessel Type
8.1 Overview
8.2 SAM 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. SAM Vessel Monitoring System Market – Country Analysis
9.1 Overview
9.1.1 SAM: Vessel Monitoring System Market, by Key Country
9.1.1.1 Brazil: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.1.1 Brazil: Vessel Monitoring System Market, by Vessel Type
9.1.1.1.2 Brazil: Vessel Monitoring System Market, by Application
9.1.1.2 Argentina: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.2.1 Argentina: Vessel Monitoring System Market, by Vessel Type
9.1.1.2.2 Argentina: Vessel Monitoring System Market, by Application
9.1.1.3 Rest of SAM: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.3.1 Rest of SAM: Vessel Monitoring System Market, by Vessel Type
9.1.1.3.2 Rest of SAM: Vessel Monitoring System Market, by Application
10. Impact of COVID-19 Pandemic on SAM Vessel Monitoring System Market
10.1 SAM: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
12. Company Profiles
12.1 Applied Satellite Technology Ltd
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 CLS Fisheries
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 Orolia Maritime
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 Remora Costa Rica
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 Visma
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. SAM Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Table 2. Brazil: Vessel Monitoring System Market, by Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 3. Brazil: Vessel Monitoring System Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 4. Argentina: Vessel Monitoring System Market, by Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 5. Argentina: Vessel Monitoring System Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 6. Rest of SAM: Vessel Monitoring System Market, by Vessel Type – Revenue and Forecast to 2027 (US$ Million)
Table 7. Rest of SAM: Vessel Monitoring System Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 8. List of Abbreviation
LIST OF FIGURES
Figure 1. SAM Vessel Monitoring System Market Segmentation
Figure 2. SAM Vessel Monitoring System Market Segmentation – By Country
Figure 3. SAM Vessel Monitoring System Market Overview
Figure 4. SAM Vessel Monitoring System Market, by Country
Figure 5. SAM Vessel Monitoring System Market, By Vessel Type
Figure 6. SAM Vessel Monitoring System Market, By Application
Figure 7. SAM: PEST Analysis
Figure 8. Ecosystem Analysis
Figure 9. Expert Opinion
Figure 10. SAM Vessel Monitoring System Market: Impact Analysis of Drivers and Restraints
Figure 11. SAM Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 12. SAM Vessel Monitoring System Market Breakdown, By Application, 2019 & 2027 (%)
Figure 13. SAM Fisheries Management Market Revenue and Forecast to 2027 (US$ Mn)
Figure 14. SAM Surveillance Market Revenue and Forecast to 2027 (US$ Mn)
Figure 15. SAM Others Market Revenue and Forecast to 2027 (US$ Mn)
Figure 16. SAM Vessel Monitoring System Market Breakdown, By Vessel Type, 2019 & 2027 (%)
Figure 17. SAM Fishing Vessel Market Revenue and Forecast to 2027 (US$ Mn)
Figure 18. SAM Cargo Vessel Market Revenue and Forecast to 2027 (US$ Mn)
Figure 19. SAM Service Vessel Market Revenue and Forecast to 2027 (US$ Mn)
Figure 20. SAM Passenger Ships & Ferries Market Revenue and Forecast to 2027 (US$ Mn)
Figure 21. SAM Others Market Revenue and Forecast to 2027 (US$ Mn)
Figure 22. SAM: Vessel Monitoring System Market Revenue Share, by Key Country (2019 and 2027)
Figure 23. Brazil: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. Argentina: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. Rest of SAM: Vessel Monitoring System Market – Revenue and Forecast to 2027 (US$ Million)
Figure 26. Impact of COVID-19 Pandemic on SAM Country Markets
- Applied Satellite Technology Ltd
- CLS Fisheries
- Orolia Maritime
- Remora Costa Rica
- Visma
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the SAM vessel monitoring system market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the SAM vessel monitoring system market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth SAM market trends and outlook coupled with the factors driving the vessel monitoring system market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution