Automatic Identification System Market Analysis Looking Forward Industry Growth till 2030

 

Market Overview:

Automatic Identification System Market Analysis Size is anticipated to reach USD 374.99 Million by 2030, registering a CAGR of 6.5% during 2022-2030
The ships have a tracking system called an automated identification system (AIS). The technology is designed for coastal navigation and to raise the bar for maritime safety. It offers crucial details about the location and identity of ships that are operating close to other ships and shore stations. The International Maritime Organization (IMO) specifies that all passenger ships, ships of 500 gross tonnes or more operating in territorial waters, ships of 300 gross tonnes or more sailing in international seas, and cargo ships must all be fitted with AIS technology. AIS transponders operate independently and broadcast data at predetermined intervals.

The expansion of the global market for autonomous identification systems is anticipated to be fueled by rising maritime transport and better navigation and maritime traffic management. International trade is centred on maritime travel, and this transport may be tracked in real time. Cargo ships are outfitted with AIS technology, which continuously and reliably transmits radio signals to transmit data on identity, speed, and location. Additionally, a lot of private service providers capture these radio signals and organise them into ordered data feeds using satellites and ground receivers.

The COVID-19 pandemic's extraordinary disruption also contributed to a further fall in the growth of the maritime transport sector globally in 2020. As a result, the global maritime transport industry's near-term outlook is not promising but given that maritime transport is an essential component of how well global supply chains operate, the sector is anticipated to grow favourably and help the supply chain as a whole move toward a sustainable recovery. Consequently, it is anticipated that throughout the projected period, rising maritime transport and advancements in maritime traffic management will propel the expansion of the global Automatic Identification System Market Analysis.

 

Key Players:

 

ExactEarth Ltd (Canada), Kongsberg Gruppen ASA (Norway), SAAB AB (Sweden), Furuno Electric Co. Ltd. (Japan), L-3 Communication Holdings Inc. (US), Orbcomm Inc. (US), True Heading AB (Sweden), Garmin International (Switzerland), CNS Systems AB (Switzerland), Japan Radio Co Ltd. (Japan)

Segmental Analysis:

By Class

The Class A Segment is Expected to Dominate the Automatic Identification System Market Analysis: During the forecast period, 2021 to 2027, the class A segment is anticipated to dominate the market and show a higher CAGR. The requirement for class A automatic identifying systems aboard Safety of Life at Sea (SOLAS) vessels can be blamed for the growth. All passenger ships, regardless of size, as well as vessels with a gross tonnage of more than 300 and above 500 that are involved in international voyages are considered SOLAS vessels. The International Convention for the Safety of Life at Sea mandates that class A AIS be installed aboard SOLAS ships.

In addition, the class A AIS is utilised for AIS application-specific communications, such as meteorological and hydrological information, electronic broadcast warning to sailors, and other marine safety data. As a result, it is anticipated that demand for class A AIS will increase significantly throughout the projected period, which will in turn fuel the expansion of the class A segment of the Automatic Identification System Market Analysis.


The Demand for Class B Segment is Expected to Increase: The purpose of Class B AIS is for non-SOLAS vessels. Commercial, domestic, and recreational boats are non-SOLAS vessels. Comparatively speaking, Class B AIS is less functional than Class A AIS. They can work in conjunction with the Class A AIS for operations and communications, though. Thus, during the predicted period, the demand for class B AIS is likely to develop positively.

 

By Platform

 

The Vessel-Based Segment is Expected to Witness Higher Growth in the Market: During the review period, the segment based on vessels is anticipated to increase rapidly and to have a higher CAGR. Strong demand for vessel-based AIS has been generated by the increasing integration of AIS-based advanced technologies into maritime vessels across the globe. The need for vessel-based AIS systems is also being driven by major economies across the world buying more ships to strengthen their naval fleets. As a result, the segment of vessel-based AIS is anticipated to post a higher CAGR throughout the forecast period.

 

The onshore-based segment is expected to grow considerably: In 2020, the onshore-based category held the lower but still significant Automatic Identification System Market Analysis share of the two segments. This is because AIS is used for collision avoidance on land. Additionally, the influence that onshore-based AIS has on onshore-based services, such as port management, vessel traffic service (VTS), and other such key services, is important and valuable for the expansion of the global maritime transport business.

 

Regional Analysis:

As per the United Nations Conference on Trade and Development (UNCTAD), more than 80% of global merchandise trade in terms of volume and over 70% by its value in 2017 was carried out by the international shipping industry. However, in 2019, the global merchandise trade contracted by 0.5% in terms of volume. The major factors responsible for this decline included the rise in global trade tensions and tariffs, which, in turn, resulted in a decrease in imports from developing countries, including China and other emerging economies of the world.

 

Full report @ https://www.marketresearchfuture.com/reports/automatic-identification-system-market-10567

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