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Marine Traffic Management Solutions Market

Marine Traffic Management Solutions Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027

Marine traffic management solutions  provide real-time information on the movement of ships and the current location of ships in harbors and ports. Marine traffic management solution enable efficient operation of ports, and safe management and enhanced efficiency of traffic on waterways. Additionally, it protects the environment, supports law enforcement and coast guards, performs underwater surveys, and performs precise navigation.  

Marine traffic management solutions offer safety, security, and protection of the environment. This factor drives the market. These solutions support planning, traffic monitoring, environmental protection, automatic identification, and coastal security. Moreover, advancements in the IT and telecommunication industry have created strong growth potential for all other industry verticals. Emergence of IoT (Internet of Things), connected devices, machine learning, deep packet inspection, and augmented and virtual reality is expected to fuel the market growth over the forecast period.  As the marine industry is generally heavily regulated by environmental, safety and nuclear legislation, fluctuations in governments can hamper the market growth. Growth in autonomous ships is expected to create significant opportunities for the market over the forecast period.

The global marine traffic management solutions market can be segmented based on type, component, end-user, and region. The marine traffic management solutions market can be divided based on type into surveilled and non-surveilled. The marine traffic management solutions market can be categorized based on component into software and professional services. The software component can be classified into port management, monitoring, platform protection, Secure AIS Data Communications, pilotage management, geomatics (navigation solution), and others (Information Systems). The geomatics component is important in difficult navigational or meteorological circumstances or in case of defects or deficiencies. Professional services can be classified into installation & integration, auditing & consulting, and support & maintenance.  In terms of end-user, the marine traffic management solutions market can be segmented into commercial and defense. The commercial end-user segment is estimated to account for the largest market share during the forecast period due to rising security in ports & harbors, inland waterways, and offshore platforms.

Based on region, the global marine traffic management solutions market can be segmented into North America, South America, Europe, Asia Pacific, and Middle East & Africa. Europe is expected to dominate the market during the forecast period. The U.K. is expected to register significant growth rate due to rising focus on expanding marine capabilities, and expand the international customer base in naval and commercial shipping markets. The marine traffic management solutions market in Asia Pacific is expected to expand at the highest rate over the forecast period due to presence of countries such as India, China. The marine traffic management solutions market in India is expected to grow at a significant rate as the Indian telecommunications network is the third largest network in the world. Moreover, the industry is projected to grow at a speed of 46%-50% in the near future. This rapid growth is due to various proactive decisions of the Indian government for the telecommunication industry. Middle East & Africa and South Africa are expected to create moderate incremental opportunities in marine traffic management solutions over the forecast period.

With demand for emerging technologies such as IoT, machine learning, and connected vehicle solutions, companies in the marine traffic management solutions market focus on development of advanced solutions with far more capabilities and enhanced performance, thus enhancing safety. Besides, marine traffic management solutions market players now provide traffic management software integrated with machine learning and AI based technologies. Companies offer both subscription and perpetual pricing model for marine traffic management solutions.

Companies in the marine traffic management solutions market are focusing on expanding their business through strategic partnerships and collaboration. Technological developments in networking also increases competitiveness. Key companies operating in the global marine traffic management solutions market are Leonardo – Societa per azioni, Saab AB, Transas, GEM elettronica, Kongsberg Gruppen, Vissim AS., Terma A/S, Thales Group, Kongsberg Gruppen, Indra Sistemas, S.A. and others

Marine Traffic Management Solutions Market

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