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DUBLIN--(BUSINESS WIRE)--Nov 23, 2022--
The "Automatic Identification System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global automatic identification system market size reached US$ 257.97 Million in 2021. Looking forward, the publisher expects the market to reach US$ 358.95 Million by 2027, exhibiting a CAGR of 5.66% during 2021-2027.
Companies Mentioned
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
An automatic identification system (AIS) is a tracking system that uses transponders on ships to identify other vessels in the area. It is mainly used by vessel traffic service providers to provide safety to participating vessels. Primarily employed to monitor ships and better control marine traffic, it also assists in the prevention of possible maritime collisions.
Automated identification systems function by providing pertinent information, such as unique identification, course speed, and vessel position, which can be displayed on a screen in conjunction with the marine radar. Automatic identification requires the use of transceivers on marine vessels, which when equipped with transceivers, facilitate easy monitoring and tracking. AIS is also being used for the large-scale transmission of critical information regarding environmental conditions to emergency response providers, mariners, and forecasters.
The market is primarily driven by the escalating demand for monitoring and tracking vessels at sea due to a considerable rise in marine traffic, along with the rapid expansion of the naval sector. This can be attributed to the increasing international seaborne trade activities. In line with this, the augmenting need for safety and security of the vessels is acting as another significant growth-inducing factor for the AIS market.
Moreover, the incorporation of satellite AIS, Big Data analytics, and the Internet of Things (IoT) connectivity to deliver efficient visibility and control is providing an impetus to the market.
Apart from this, continual technological advancements in navigation and maritime traffic management systems, such as remote traffic control systems and remote container management (RCM) solutions, are further creating lucrative growth opportunities in the market.
Furthermore, the increasing stringency of marine safety regulations is resulting in a higher product uptake on the global level. Some of the other factors contributing to the market growth include the emergence of smart global ocean trade and supply chains, flourishing e-commerce industry, inflating disposable income levels, and extensive research and development (R&D) activities.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global automatic identification system market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on class, component, platform and application.
Breakup by Class:
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Key Questions Answered in This Report:
For more information about this report visit https://www.researchandmarkets.com/r/ykt2un
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KEYWORD:
INDUSTRY KEYWORD: DATA MANAGEMENT AUTOMOTIVE GENERAL AUTOMOTIVE TECHNOLOGY OTHER AUTOMOTIVE SOFTWARE
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 11/23/2022 08:33 AM/DISC: 11/23/2022 08:33 AM
http://www.businesswire.com/news/home/20221123005286/en